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as of 11:29am EDT, 4/24/2017

Davidson Tisdale Property

 
Davidson Tisdale is a high grade gold deposit in North-Eastern Timmins, Ontario, located approximately 5 km along strike from the Hollinger, McIntyre and Coniaurum, which have produced over 31 million ounces of gold at 7.7 grams per tonne average production grade. Covering 459 hectares from 28.5 contiguous claim units in the Tisdale Township of the Timmins gold camp, the Davidson Tisdale property is 100% owned by Lexam and neighbours Tahoe Resources in the north and Goldcorp in the south.

Davidson Tisdale was subject to minor exploitation in 1988 by Getty Canadian Metals, with a total of 7,300 ounces of gold produced at grade 8.91 gpt. Discovered in 1911, it has been explored intermittently over the years, with focus on the historical underground workings. Much of the drilling was concentrated on two main areas in the south, the Main Zone and the S-Zone, with the deepest hole intersecting mineralization below 400 metres. Previous drilling results yielded highly encouraging grades over good widths.

To date the Company has obtained the following permits for Davidson Tisdale: water, industrial sewage works, air and noise emissions and a closure plan for open pit excavation.

Significant Drill Intercepts from the Davidson Tisdale Project
    Hole # Northing Easting Azimuth Dip Depth     From     (m)     To      (m)   Width    (m)  Grade  (gpt)  
     04-304  9913.0  10207.0  150  -45  38  16.1  20.5 4.4 38.55  
     03-310  9925.5  10113.5  330  -80  203  163.0  166.4 3.4 341.10  
     03-312  9925.5  10113.5  150  -63  162  67.3  70.8 3.5 29.86  
     03-315  9956.0  10067.0  150  -76  226  161.1  165.7 4.6 197.34  
     04-326  9833.0  10124.0  330  -56  317  251.9  260.4 8.5 30.05  

Several shafts have been developed on the property with a decline ramp driven to a vertical depth of 250 metres. Successful high grade deep drilling indicated that this deposit is open at depth and that it has the potential for further bonanza grades. Over 71,000 metres have been drilled to date on the southern part of Davidson Tisdale, which remains an important exploration target for extending the potential at depth and the areas of high grade gold mineralization.

NI 43-101 resource estimates for Davidson Tisdale were calculated in 2003 for the S-Zone and in 2013 for the Main Zone:

Davidson Tisdale Resource Estimate
    Tonnes Grams per Gold
    (000's) Tonne (oz)
      S-Zone Underground        
      (at cut-off grade 2.0 gpt Au) Measured  338  5.5  59,800
  Indicated   415   4.52   60,400
  Inferred  386  4.68  58,200
     Main Zone Open Pit        
     (at cut-off grade 0.5 gpt Au) Measured  452  2.44  35,500
  Indicated  173  2.43  13,500
      Main Zone Underground        
    (at cut-off grade 2.6 gpt Au) Measured  18  6.64  3,800
  Indicated  41  4.91  6,500
  Inferred  71  4.20  9,600

For the S-Zone see "Davidson Tisdale Gold Property, Timmins, Ontario Technical Report" dated November, 2003. For the Main Zone see "Technical Report & Updated Resource Estimate on Buffalo Ankerite, Fuller, Paymaster, Davidson Tisdale Gold Deposits" dated June, 2013.

The acquisition completed in 2014 is adding key adjoining mineral claims to the north. The known geology of these claims encompasses favourable structures, such as four parallel hydrothermal alteration zones of over 2 km strike length. The northern land addition is relatively unexplored, with very few known drill holes completed by predecessors. Intriguing historic assay results from these claims include a surface grab sample that returned 31.2 gpt gold and a diamond drill intercept (DBK-87-6) of 26.1 gpt gold over 1.0 m at 39 metres below surface.

Exploration on the newly acquired mineral claims to the north is envisioned to include property compilation, SGH geochemistry, geological mapping/ prospecting and a follow up drill program.

A preliminary economic assessment including the Davidson Tisdale Property has been completed in 2014 on open pit scenarios. For more information on this study please see our PEA page.

For a larger property map please click here.
To view Lexam's drill results on the property please click here.
To view project area photos please click here.
To view our resource page, please click here.

Projects

Timmins Gold Camp
        Buffalo Ankerite
        Davidson Tisdale
        Fuller
        Paymaster
        PEA
Baca



   

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