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McFauld's Lake
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Canstar's McFauld's Lake 1 and 3 properties in northwestern Ontario are located close to the heart of what is arguably the best base metals 'area play' in Canada at the present time. Currently under option to United Reef Limited (TSX-V: URP), the property is contiguous to the southeast with the Spider Resources/KWG Resources property where high grade zinc-copper-silver-lead-gold mineralization has been discovered in ongoing drilling since 2003. This includes an 18.8 m intersection of 8.02% copper in hole McF-04-57. In addition, the area is receiving significant attention with the recent discovery of high-grade-platinum group metal mineralization by Noront Resources. Drill intersections of up to 6.25% nickel, 2.75% copper, 1.85 g/t platinum, 10.23 g/t palladium, 3.0 g/t gold and 10.3 g/t silver over 46.6 meters have been reported. A recent drill program conducted by United Reef failed to explain the source of the anomalies.
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