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|MISEHKOW RIVER PROPERTY,
PICKLE LAKE GOLD AREA, ONTARIO
The Misehkow River property covers a regional iron formation which is favorable as a host for gold deposits in the Pickle Lake gold area. Two blocks of claims total 41.6 square kilometres in area and cover 22.5 km of iron formation lithology. The property has notable historical gold assay value drill intercepts of up to 0.362 ounces/ton over 2.2 feet and value/width intercepts of up to 0.11 ounces/ton over 21.0 feet. A high grade gold intersection target=’new’>1.26 oz. / 43.1 ft. including 4.04 oz/13.1 ft. drilled at Pickle Lake by PC Gold highlights the high grade gold potential for the area. A VTEM airborne survey done in 2009 was interpreted in July 2010. The interpretation indicates 5 target areas on which 16 holes have been recommended for drilling. Drilling is expected to begin by November 2010.
Drill program facilities consisting of camp, ATV trails, helicopter pads and core racks have been built. Fuel is currently being flown in for the camp and diamond drill unit. Rock sampling and assaying of outcrops near the drill targets has been completed. The Company has signed a Memorandum of Understanding with the Mishkeegogamang First Nation and employs several of their residents.
PARRES AND PARRES TWO PROPERTIES,
SNOW LAKE MINING CAMP, MANITOBA
These properties total 55 square km in area. The Parres property straddles a 4 km stretch along Highway 393 following the mine stratigraphy between the former Stall/Rod copper-zinc and the Osborne copper-zinc mines. The Lalor Lake gold and copper-zinc deposits were recently discovered by HudBay Minerals Inc. 20 km southwest of the properties in a similar geological
environment. The New Britannia gold mine as well is located about 15 km southwest of the properties, also in a similar geological environment. Jiminex completed a Mega VTEM35 in February 2010 and a geophysical interpretation in April 2010. The consultants have recommended 12 drill holes and drilling is slated for October 2010.
Jiminex personnel are currently cutting drill and helicopter pads for the October 2010 diamond drill program. A consultant geologist with 14 years experience as a mine geologist at Snow Lake and an assistant geologist have been retained for the program
NORTHERN EAGLE GOLD PROPERTY, HEMLO GOLD AREA, ONTARIO
The property is situated nearby to the 22 million ounce Hemlo gold deposit currently being mined by Barrick Gold Corporation. This property is 44 km in area and represents the best target area in the mining camp in which to locate another Hemlo-style gold deposit. Northern Eagle is essentially untested by drilling below depths which could contain most of the Hemlo-style gold deposit. Caracle Creek International Consulting Inc. completed an interactive Gocad computer geotechnical data model in March 2010.
The model was used to select locations for testing using the Titan 24 geophysical system which can see down to 1,500 meters or more. The survey was completed by Quantec Geoscience in August 2010. Quantec has recommended 15 holes to test targets never tested on the property. Drilling is planned for early 2011.
October 2010 TSX-V: JIM
NORTHERN EAGLE GOLD PROPERTY BUSINESS STRATEGY 2010-2011
To increase shareholder value by:
- completing initial drilling on all 3 properties.
- increasing awareness of Jiminex Inc. through
increased marketing strategies.
- acquiring additional high quality gold properties
- forming joint ventures on selected properties|
|28,510,116 Outstanding Shares (basic)
3,060,000 Escrowed or Hold Shares
25,450,116 Float Shares|
James R. B. Parres, BScA., President, CEO & Director
Allan J. Willy, P.Eng., P.Geo., VP Exploration, QP, Secretary & Director
David Chan, CGA, Chief Financial Officer
Clinton Barr, P.Geo., Independent Director
Mark Billings, MBA, Independent Director
Edward Ierfino, B. Comm., Independent Director
Scott Jobin-Bevans, Ph.D., P.Geo., Independent Director
Audrey M. Parres, Director
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