About Forest Gate Energy Inc.
Forest Gate Energy Inc. is a publicly-listed exploration and mine development resource company, whose assets also include oil and gas production properties. The company trades on the TSX Venture Exchange under the symbol FGE. Forest Gate is seeking to create shareholder value primarily by focusing on iron ore exploration and mine development through its Mineral Exploration Division.
Abitibi Region of Quebec:
Cuff Lake Iron Property
Located in the Abitibi region of Quebec, approximately 60 miles southeast of Val d'Or and 110 miles northwest of Maniwaki, and 145 kilometres away from Peshing, Forest Gate¡¯s other iron ore property.Consists of 150 contiguous mining claims and extend in an east-west direction over a distance of 16 km (10 miles). Iron rich bands form several magnetite rich locations each varying from 1.5 to 2 km (5,000 - 6,500 feet) in length, 61m (200 feet) to 152m (500 feet) in width, with an average 91m (300 feet), and having down dip extensions greater than 250m. The magnetite rich bands trend approximately east-west and dip at 45o to 55 o toward the north. Metallurgical testing by Expo Iron Ltd indicated that ore ground to minus ten mesh and treated on a dry magnetic drum would retain 34.7% of the material, 99.1% of which was magnetite and assayed 44.2% soluble iron. These concentrates continued to contain high sulphur (3.74%).
Pershing Iron and Gold Property:(252 contiguous, unpatented mining claims):
Pershing Iron Property:
Forest Gate intersected significant iron grades in the banded iron formation at its 100% owned Pershing Property.
Sampled magnetite-rich intervals within a banded iron formation (BIF) unit that was intersected with drill hole FG11-03. These magnetite intervals on average were found to contain 29.3% iron.
The same banded iron formation unit found in drill hole FG11-03 was also intersected in drill holes FG11-01 and FG11-02, with a core interval of approximately 100 metres. It is estimated that the magnetite (iron) rich bands form approximately 40 % of these banded iron formation units. The magnetite rich intervals contain up to 85% magnetite content and occur as bands ranging from 0.3 metres to 15 metres.?
The nature of the banded iron formation unit in these holes is very similar both in magnetite content and thickness to the banded iron formation units observed in historical drill log reports found elsewhere on the property.
Pershing Gold Property:
Forest Gate Intersected high-grade gold in addition to iron during a five-hole drill program at its 100%-owned Pershing gold property.
Drill hole FG11-05 intersected gold mineralization: 145 grams of per ton in the first screen analysis. The second screen analysis on a second sample of the same mineralized intersection assayed 44.6 grams of gold per ton suggesting the presence of free gold. The first screen analysis is discounted due to the nugget effect.
Drill hole FG11-05 was drilled in a new, unexplored area of the Pershing property known as the Marquis Block. The Marquis Block is located 1.7 kilometres north of the Simon Block which is where most of the historical work was concentrated and where all of the early gold showings were found.
Hole FG11-04 was also drilled in the Marquis Block and returned values of 18.3 grams of gold per ton over 0.10 metres and 10.5 grams of gold per ton over 0.20 metres.
The results from drill holes FG11-04 and FG11-05 warrant a more detailed geophysical survey. This survey is now being planned for this autumn. The survey will be followed with a comprehensive drilling program.
Holes FG11-01, FG11-02 and FG11-03 contained immaterial amounts of gold. As previously reported, FG11-03 contained high-grade iron. Forest Gate is planning to more detailed petrographic analysis of core from holes FG11-01, FG11-02, FG11-03 and core from adjacent historical drill holes.
Thirty-five samples were selected from hole FG11-03 and submitted for major element oxide analysis with the objective of sampling two iron-rich intervals over of a core-interval of 29 metres and 25 metres respectively.
*Source: Please see Forest Gate Energy news releases for details.
Alberta Oil & Gas Property:
- Kelsey: Currently, approx. 48 BOEPD. Forest Gate has 38% interest.
- Net Production to Forest Gate: approx. 19 BOEPD.
*Source: Emerald Bay Energy Inc., Calgary, AB