Newman Todd Project, Ontario
Confederation Minerals Ltd. (“Confederation”) has entered into an Option Agreement with Redstar Gold Corp. (TSX.V: RGC) to acquire up to 70% of the Newman Todd Project, located in the highly prospective Red Lake Mining District of Northern Ontario.
Exploration on the property is focused on the Newman Todd Structure (NTS), a large-scale gold-bearing alteration/deformation zone within the Red Lake Greenstone Belt with similar geological characteristics to the nearby Red Lake Mine Complex (GoldCorp) and the East Bay Deformation Zone in Rubicon's Phoenix zone.
In 2011, Confederation commenced an aggressive exploration program of drilling and mapping within the NTS which will continue throughout 2013. Results to date have been highly successful, with drilling yielding numerous very high-grade intersections, many greater than 20 g/t gold, with individual values up to 343 g/t.
Green River Potash Project, Utah
Confederation owns 15.5% of Magna Resources Ltd. (CNSX: MNA), a publicly traded company dedicated to the acquisition and development of potash mineral deposits in the United States and elsewhere. Magna Resources Ltd. wholly owns American Potash LLC, which in turn owns and operates the Green River Potash Project in Utah. American Potash’s area of interest covers key land positions in known potash-bearing sedimentary cycles in Utah’s Paradox Basin.
Confederation Lake Project, Ontario
Confederation Minerals Ltd. has a substantial land position within the Archean Confederation Lake Greenstone Belt in the highly prospective Red Lake Mining District of Ontario. The Company completed the requirements to the original Optionors Perry English and Rubicon Minerals Corporation and now owns a 100% interest, subject to a 2% NSR, which can be reduced to a 1% NSR for a payment of $1,000,000. Exploration by Confederation has confirmed the presence of a significant geochemical anomaly at the northeastern end of the property which may indicate an extension of mineralization from the adjacent, past-producing South Bay Mine. The South Bay Mine – a copper-zinc-silver volcanic-hosted massive sulfide (“VMS”) deposit – was operated by Selco from 1971 to 1981 and produced 1.45 million tonnes of ore grading 2.3% copper, 14.7% zinc and 120.0 g/t silver.