The original vision for Debut’s Nakina Project (“Nakina”) began on August 19, 2011 when the Company signed an option to earn a 70% operating interest in twenty-eight (28) unpatented mining claims, located 125 kilometres north of Nakina, in the James Bay Lowlands region of north-western Ontario (see Red Project Location box).
The 28 claims cover a cluster of 33 distinct magnetic features that are interpreted to be potential kimberlite pipes as determined by analysis of airborne magnetic data north of Nakina, generated in 2010 by the Ontario Geological Survey.
Select targets pictured below:
To expand the project scope at Nakina, the Company acquired a 100% interest in fifty-seven (57) unpatented mining claims on July 24, 2012.
The Vendor retained a 2% net smelter return royalty (NSR), one half of which may be purchased by Debut for $3M for a period of 6 months after the claims are put into commercial production.
The additional mining claims are located north-east and south-west of the original Nakina property.
Nakina now covers a total of 85 unpatented mining claims (consisting of 436 total claim units) and has developed into a much larger ‘area play’ for the Company (see Red Box for expanded Project Area).
Debut began the process of consulting with local First Nations re concluding Early Exploration Agreements for Nakina in September 2011.
Consultation obligations with Aroland First Nation have recently concluded and the company may now proceed with early exploration on Aroland Traditional Lands.
The first phase of drilling represents an initial expenditure of $750,000, with plans to drill test 20 high priority targets with a hollow stem auger capable of coring bedrock once it is reached; therefore enabling the identification of kimberlite. This will be followed immediately by a program utilizing a diamond drill to reach deeper targets.
Each drill target has been surveyed for the existence of any archeological, sacred or cultural values and all required agreements are in place with Aroland.
Consultation with Marten Falls First Nation for an agreement to permit exploration work on Marten Falls Traditional lands, in the northeastern portion of the project, is still ongoing.