Lake Pythonga

TSX.V: CVN

The Lake Pythonga property is located at approximately 15 kilometers west of the town of Maniwaki in the NTS 31K08. It consists of 110 claims divided into three blocks. A total of 57 claims are under option from Investments Horizons Inc., with the remaining claims owned by Cavan Ventures Inc.

The region explored is part of Pythonga Terrane and is composed of metasediments, amphibolite, quartz-feldspar gneiss and calc-silicate rocks. This set has been metamorphosed to upper amphibolite grade to granulite.

The property contains two major types of ore deposits. The first is the skarn, the second is the rare earth pegmatites. For the first type, research has focused on rusty paragneiss along contact with calc-silicate rocks. The results are mixed. The second type seems to be more promising. The search for these pegmatites is by using a discriminating instrument such as scintillometer.

Exploration works are at the primary phase. The property has undergone a basic prospecting which mainly included the review of roads and trails. Following the assay results of the first exploration period, 89 meters of channel sampling was carried out on the richest sites.

The bulk of the campaign comprises about 360 testing sites with 80% of them were selected for the rare earths. At the time of this writing, less than half of the results are available.

The best rare earth values obtained correspond to five samples with values higher than 2.1% total rare earths (REE). Of these four are higher than the limit of detection of certain elements. In addition, several dozens of samples with values ranging between 0.1% and 0.9% total rare earths were obtained. Base metals do not seem to show an economic interest.

The property has revealed a real economic potential for rare earths. The land is just at the beginning of its exploration and the contents obtained are rich. There is still much work to do. Among these may be suggested geophysical and geochemical surveys, mechanical stripping and channel sampling.

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