Goldie Gold
 
  Churchill Uranium
 
  On Strike Uranium
 
  Stares/Calvert
 
  Savant Lake
 
  Wedge
 

 

 

Wedge Property, Ontario

The five-claim (832 hectare) Wedge Property is located in Blackwell and Laurie Townships, of the Shebandowan Greenstone Belt, Thunder Bay Mining Division. The Company holds 100% interest in the Property subject to a 3% Net Smelter Royalty held by the vendors. The property was acquired in 2002 as a result of previous exploration work consisting of gridding, geological mapping, sampling and IP geophysical surveys. Samples collected from outcrop showings from previous work returned assays up to 17.2 g/t Au (Kaspar showing), 14.5 g/t Au (Wedge showing), and 11.4 g/t Au (Creek showing). In the spring of 1993, the Company initiated a single-hole diamond drill program to test an extensive IP geophysical anomaly. This hole (the discovery hole) intersected 2.27 g/t Au over a quarter length of 9.13 metres, including a 5.89 g/t Au over 3.03 metres.

A follow-up drilling program consisting of 1,773 meters was undertaken at the Creek showing, and a subsequent program consisting of 917.6 meters at the Wedge and South showing was completed during 2003. The drilling completed at the Creek zone has demonstrated that the mineralization extends vertically to 115 meters and over a strike length of 80 meters, and is open along strike and to depth. Drilling at the Wedge zone returned a weighted average of 0.28 g/t Au across a true width of 9.5 meters, over 186 meters strike length. In addition, a third zone of mineralization (the South zone) was identified approximately 650 meters south of the Creek zone. This zone returned 0.342 g/t Au over 10.75 metres, including 0.73 Au over 4.0 meters.

The significance of the 2003 drilling campaign on the property has been the identification of multiple parallel gold-bearing zones that appear to have extensive strike lengths, with sufficient widths to indicate potential for zones of economic gold mineralization, along strike and/or at depth.

In addition to the three gold-bearing zones identified on the property, four similar zones, based on geological and geophysical interpretation, which extend over a strike length of 1,500 meters across a stratographic interval of approximately 1 kilometer, have yet to be drilled.

On May 1, 2005 the Company signed an option agreement with Hinterland Minerals Inc (“HMI”) to earn a 50% interest in the 52-unit Wedge property in consideration of $235,000 of exploration expenditures over a three year period. The property is subject to an underlying 3% royalty on all metal production with a provision to buy-backup to 1.5% of the royalty for $1,000,000. Upon Hinterland earning its interest RJK will form a joint venture with Hinterland which will include the adjacent 200 claim unit Shabaqua property which is held 50% by RJK and 50% by Hinterland. Non-participation in the joint venture by either party will result in their respective interests being a diluted profits interest for $1 million cash.

During 2004 the Company joint ventured with Hinterland Metals Inc. (“Hinterland”) whereby Hinterland and RJK agreed to joint venture their respective interests on the contiguous 3,200 hectare Shabaqua Property. Additionally, Hinterland may earn a 50% interest in the 832 hectare Wedge property by matching RJK’s exploration expenditures completed on the property to date of approximately $235,000.

In June 2005 a 471 line kilometer VTEM airborne was conducted over the property by Geotech Inc. This survey generated at least 20 high priority targets for ground follow-up. Later in the year, Hinterland attempted a limited program of excavator mechanical stripping of some of these targets, however, overburden depths made this program mostly unsuccessful.