HISTORIC EXPLORATION

Previous exploration on the property has not been well funded. GASPEX prospected new lumbering roads that exposed blocks of mineralized basalt and quartz veins in the early 1960's. Basalt blocks assayed 0.5% to 6.0% copper in these exposed rocks. One quartz-pyrite boulder contained 0.49 oz/ton gold, 2.6 oz/ton silver and 7.88% lead. A second similar boulder assayed 0.113 oz/ton gold and 1.74% antimony.

McIntyre Mines Ltd. acquired this property in 1974, performed some exploration, and abandoned it during a time of low copper prices after holding it for two years. Focusing on an aeromagnetic anomaly located southwest of Lac de la Branche Nord, McIntyre made magnetic and Induced Polarization surveys and drilled eight holes totaling 1400 meters. The most significant assay from this drill core was 1.23% copper over a core length of 1.2 meters.

SOQUEM acquired the property in 1983 and cut 22.6 km of grid lines, collecting and analyzing 535 soil samples for Cu, Pb, Zn, Ag and As (but not Au). They also conducted a magnetometer survey, and 8.6 km of-induced-polarization survey. This work located two sites for trenching, one north of Lac de la Branche Nord and the other west of Lac Des Pics; trenching of the Branche Nord (the principal anomaly) located a quartz-pyrite vein yielding samples with 15% to 20% pyrite and chalcopyrite that assayed 1.10% Cu, 0.24 oz/ton Au and 10.8 g/t Ag. Five veins of note were identified and examined.

One Vein was sampled at 25 points and 5 of the 25 samples contained gold values between 2.54 and 38.4 grams per tonne gold, with accompanying base metal and silver values. The gold and silver were found to be associated with copper, nickel and cobalt values in the basaltic host rock.

Two other veins, southwest of and near Lac Des Pics respectively, contained interesting copper and silver values but only low amounts of gold. These veins differed from the three veins of the principal anomaly in that they formed-a stockwork of quartz/calcite/bornite mineralization within an altered (chloritized) basalt host rock. SOQUEM performed an Induced Polarization survey over the area containing Vein 4 and Vein 5 that determined this area to be anomalous. This anomaly may indicate the area to be underlain by a significant stockwork body of copper with accessory metal mineralization. This anomalous area has not been adequately explored nor has its limits been determined.

The ASPM group staked the property immediately when it became available in 1984, and have held it until this year, when they entered their Agreement with First Source. These private prospectors held this property during a prolonged period of low metal prices, and performed only minimum surface exploration work requirements. Through this work, they have been successful in locating a number of new copper/gold occurrences, some along new lumbering roads.

A consulting geologist examined the property late in 1990, and wrote an evaluation report of the economic geology of this property in 1991. This report was filed with the Quebec ministry of mines in 1992. This is the most recent report on this property. The report summarized previous work, provided assay data, and recommended new exploration for disseminated copper, gold, silver and veins of silver, lead, zinc, and antimony. This exploration is yet to be performed.