Wolverine Resources Corp (WOLV)

[Mr. Zen]

Caribou property area facts

Wolverine Exploration Inc. acquisition June 2013


In a recent announcement the company has acquired over 3,400 hectors in the prolific Caribou gold region of British Columbia. Lee Costerd CEO of Wolverine Exploration has been a mine superintendent, prospector / explorer in the Caribou Quesnel region of British Columbia for over 20 years and brings to Wolverine the Eureka / Lightning Creek property nestled between the famous Wingdam mine (which is under contract to be sold for over $16,000,000) and in close proximity to Barkersville Gold which claimed in a press release to have found the richest gold deposit in North America (about 10% of its Caribou project in central British Columbia is estimated to host as much as 65-90 million ounces of gold).
The new Wolverine Exploration Caribou area Eureka / Lightning creek property shares the Bonanza Thrust and the Eureka Thrust with these other two companies and the placer gold found at the Wingdam and the Lightning Creek property so far is believed by geologists and other mining professionals to have come from a hard rock lode source somewhere in the immediate area rather than a glacier till source. The property Wolverine has acquired is a hardrock section of the region and encompasses approximately half of the mountain abutting the Wingdam mine property.
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Caribou area factoids
Wingdam mine video (a must see)
http://www.youtube.com/watch?v=WyjgaKbgQOg&feature=share
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Barkerville Gold Mines Ltd. ("the Company" or "Barkerville Gold") is a public company traded on the TSX Venture Exchange (BGM) and the Frankfurt exchange (IWUB). The Company is focused on the Historic Cariboo Goldfields, terminus of the famous Cariboo Gold Rush.

The Company commenced operations in the Cariboo Goldfields in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 1,174 square km (117,442.5 hectares) or 290,207 acres over a 65 km long by 20 km wide belt. On the Cariboo Gold Project, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining.
Source: http://www.barkervillegold.com/s/About.asp?ReportID=461996
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Article Vancouver Sun
And while Teck’s potential project in British Columbia is the Galore Creek gold and copper mine (it is a 50-per-cent joint partner in the deposit with NovaGold Resources Inc.) would be a mammoth, $5.5 billion effort in the province’s remote northwest, Barkerville is moving more quickly ahead with a much smaller operation in the old gold region of B.C.’s Cariboo that people tend to overlook.
Somewhat overlooked, Barkerville, on Nov. 29, received its final mine permit to start construction on its Bonanza Ledge property near Wells, which is itself just outside Quesnel.
Source: http://blogs.vancouversun.com/2011/12/08/barkerville-rings-up-another-small-win-for-mining/
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Barkerville Gold issued a press release on June 28, 2012, stating that an area encompassing about 10% of its Caribou project in central British Columbia is estimated to host as much as 65-90 million ounces of gold.
“If proven to be accurate, this would make the discovery one of the largest gold discoveries in the history of mining exploration worldwide,’’
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Jun 28, 2012
Barkerville Announces a NI 43-101 Compliant Indicated Resource of 10,626,100 oz's Gold on Cow Mtn with a NI 43-101 Compliant Geological Potential of 65 - 90 Million oz's Gold in an Area Encompassing Approximately 10% of its Cariboo Gold Project
Vancouver, BC - Barkerville Gold Mines Ltd. (TSXV:BGM) (the "Company" or "Barkerville") announced today a NI 43-101 compliant, indicated resource estimate for the Gold Quartz open pit model on Cow Mountain as well as a NI 43-101 compliant estimation of the geological potential of the 6.4 km Island Mountain, Cow Mountain and Barkerville Mountain trend. This trend is the central portion (where the Company has focused its exploration activities) of a larger 67 km trend on the Company's 1,118 sq. km property.

Published on Nov 27, 2012
Mining of the previously inaccessible "Deep Lead Channel" of Lightning Creek in the Barkerville Gold Camp of BC. The Windam Project hosts a rich alluvial channel that could not be previously mined because of an overburden of "Cariboo Slum", a thick unconsolidated layer of silts and gravels immediately over the gold bearing gravels. This slum oozed into the tunnels when contact with the gold bearing gravels was made, creating havoc and ruining the mine workings. Omineca Mining and Metals (OMM:TSX-V) has announced its intention to acquire CVG MIning. For more information see www.ominecamining.com
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Omineca Executes Letter of Intent to Acquire CVG Mining Ltd.
Cranbrook, B.C.; 05 October, 2012: Omineca Mining and Metals Ltd. (“Omineca”) (TSX-V:OMM) announces that an arm’s length Letter of Intent (“LOI”) dated September 18th, 2012, (with an effective date of October 4th, 2012) has been executed whereby Omineca has the exclusive right to acquire all issued and outstanding shares of CVG Mining Ltd., a private British Columbia corporation (“CVG”). The primary asset held by CVG is its 100% interest in the Wingdam Gold Project located along Lightning Creek near the Wells-Barkerville area of central British Columbia, 45 km east of Quesnel. Under terms of the proposed Agreement, Omineca will issue 47,471,548 common shares at a deemed price of $.35/share, representing a purchase price of $16,615,041 and issue a $5,400,000 convertible debenture, detailed below,in connection with the assumption by Omineca of certain debt related to the property. Coincident with the proposed transaction will be the appointments of Mr. Tom MacNeill CGA, CFA and Mr. Andrew Davidson, CA to the Board of Omineca, joining the current Board of Directors.
About the Wingdam Project
The Wingdam Project provides a unique opportunity for Omineca to acquire near-term gold production in a proven district. The property overlies both placer and hard-rock tenures along the Deep Lead Channel of Lightning Creek, where topographic conditions have created a deep overburden accumulation which effectively resulted in a large portion of the channel being excluded from conventional surface placer mining activity. Historic and recent results from drilling and seismic surveying show that the channel floor width varies from 6 to 39 m wide and extends 2,430 m along the length of the property. In effect, the gravels comprising the Wingdam Project are pristine, despite the extensive historical economic activity which took place both up-stream and down-stream. On the Wingdam property, drilling and geophysical surveys indicate that the Deep Lead Channel occurs throughout the entire 2.4km length of the Wingdam property, extending upstream and downstream an undetermined distance. “The Deep Lead Channel contains some of the highest placer gold concentrations historically reported in all of the Cariboo Mining District and perhaps British Columbia that remains unmined” (Stephen Kocsis, P.Geo; Wingdam Property NI 43-101 Report, October 2nd, 2012). Numerous attempts have been made to mine the Deep Lead Channel in the Wingdam area since the late 1880s, but all were hampered by an influx of water and unstable ground conditions and were ultimately abandoned.
Since acquiring the property in 2009, CVG combined the Australian deep-lead mining method with a ground-freeze method and in 2012 successfully completed a 2.44m x 2.44m crosscut drift 23.5m across the Deep Lead Channel along the bedrock/gravel interface. This effort not only proved the applicability of the freeze method, but also provided a bulk sample whereby “the gold recovered from the 23.5-meter drift advance across the paleochannel true width amounted to 173.495 ounces of raw placer gold (900 fineness) from 140 bank cubic meters. The refined-equivalent gold grade across this width amounted to 34.55 g/m3 or 0.453 oz/tonne. The grade across a central portion of the paleochannel totaling 14.8 m (3.8 to 18.6m) averaged 46.30 g/m3 or 0.608 oz/tonne.
Abundant elongated gold flakes up to 5 mm long were visible on bedrock across a 5.5-meter distance (6.5 to 12.0m). Seven consecutive discrete samples (0.036 to 0.054 m3) collected along this distance returned gold grades ranging from 71.35 to 185.62 g/m3 (0.936 to 2.436 oz/tonne). The discrete sample gold grades represent the entire extent of the 5.5-meter distance and 2.44-meter mine height” (Kocsis, 2012).
The abundance and physical nature of the placer gold recovered during the 2012 test mining operation indicates that it is locally derived. Little or no systematic exploration work has been carried out on the property to test for the occurrence of lode gold, leaving good potential for the exploration and possible discovery of in-situ (hard-rock) gold mineralization in addition to the presence of a proven placer deposit.
Tim Termuende, P.Geo., President and CEO of Omineca commented recently: “We are excited by the opportunities presented by the acquisition of CVG. Although the Wingdam project has proved challenging to past operators, modern mining technology appears to hold the answer to the economic extraction of gold within the Deep Lead Channel. The recent successful completion of a crosscut tunnel by CVG using freeze-mining technology bodes well for future production scenarios at Wingdam. In addition, the recent upswing in gold prices and the general consensus among many financial experts that gold prices will continue to rise suggests that acquisition is well-timed. In addition to near-term production potential, the project is fully permitted and will have a very small environmental footprint”.


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About CVG Mining Ltd.
CVG Mining Ltd. is a private British Columbia corporation that was formed in 2009 with the sole purpose of exploring deposits in the Cariboo mining district of central British Columbia. CVG currently holds approximately 6600 hectares of mineral claims and placer claims/leases, the primary asset being its 100% interest in the Wingdam Gold Project located along Lightning Creek near the Wells-Barkerville area, 45 km east of Quesnel, British Columbia. CVG is controlled by a group of private Saskatchewan corporations. 49 North Resources Inc., a company listed on the TSX Venture Exchange, indirectly owns, but does not control, approximately 76% of CVG, with an additional 17% owned, but not controlled, by 49 North 2011 Resource Flow-Through Limited Partnership and the balance owned by the founders and operators of CVG (approximately 7%).

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From Omineca press release May 2 2013
The abundance and physical nature of the placer gold recovered during the 2012 test mining operation indicates that it is in part, locally derived. Little or no systematic exploration work has been carried out on the property to test for the occurrence of lode gold, leaving good potential for the exploration and possible discovery of in-situ (hard-rock) gold mineralization in addition to the presence of a proven placer deposit.
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All of the above information is independently verifiable from press releases or Canadian Sedar filings.