REPORT CM DESTORADA GROUP MONTGOMERY TOWSHIP …

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REPORT CM DESTORADA GROUPMONTGOMERY TOWSHIP

ALOCHA DISTRICT - CUT,

by

John C. Rogers

LOCATION

Situate in the northern part of Montgomery Township, District of Algoma, Ontario and consisting of a block of claims, nine in number, more particularly described as follows:

SSM 22811 N.E. l of N. i Lot 9, Con. VI, SSM 22812 S.E. i of N. J'Lot 9.Con, VI,

SSM 22813 N.E. i of S. * Lot 9, Con. VI, SSM 22816 N.W. i of N. J Lot 8,Con, VI,

SSM 22817 N.E. i of N. i Lot 8, Con. VI, SSM 22815 S.W. i of N, i'Lot 8,Con, VI,

SSM 22818 S.E. i of N. J Lot 8, Con. VI, SSM 22814 N.W, i of S. * Lot 8,Con. VI,

and SSM 22819 N.E. i of S. J Lot 8, Con, VI.

TRANSPORTATION AND ACCESS

Property may be reached by motor road from Dean Lake, a station on the Soo Branch of the C.P.R. via Iron Bridge, distant seven miles, thence by the White River Road twenty miles to the tote road at the Junction of Grassett, Township 175, Montgomery and Parkinson Townships, thsnce five and a half miles by tote road to Williamson Like and the property.

HISTORY 1 9**' /* 5'C-

About 1934 the writer made a general inspection of this area and called it to the attention of one of the large companies as a promising area for copper and possibly cobalt, In 1941 I revisited this section and examined, the D.C. Gagne find and at the same time noted other interesting showings and structure which had not had work done upon it, This year, I showed my report to Mr. John Penelton and he and associates immediately went in and staked the ground outlined above,

GEOLOGY

The general geology in this section is similar to the Gowganda series, consisting of coarse granite pebbled conglomerate! pink and some gray quartzites and slates cut by sills of diabase and large Intrusions of coarse gabbro. Specifically, a large mass of gabbro, having a length of six miles and with a maximum width of one mile, lies roughly parallel and three-quarters of a mile south of a multiple quartz vein system which occurs in two main breaks approximately 500 feet apart. This vein system can be traced, four and one-half miles in a direction S. 70 - 75 degrees E. The general dip of the vein systems appears to be vertical and any deviation from that dip only occurs at local bulges along strike. Several cross faults were noted, but movement on either side was not great,

FINDS y

At the tine of my reconnaissance, little work had been done in this area, but several outcrops of well-mineralized quartz-ohalcopyrite vein material were exposed* Jh the preliminary report by James E* Thomson on "Copper, Nickel, Lead and Zinc Deposits of Ontario" he gives from Dr, E, S, . Moore's unpublished report on Lots 2-6, Con. V and Lots 6-8, (ton, VI, ; Montgomery Township "Main north vein system traced at intervals for 18,000 feet open at both ends, up to 20 feet wide. Strike N, 75 degrees W. dip vertical to 60 degrees S, South vein parallel and 500 feet from north vein, traced 2500 feet, up to 20 feet wide. Assays mostly between Ijfc and 55? Cu. across widths of 4 to 14 feet."

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The finds covered by the claims in this particular group are now

partially opened up in claims SSM 22812 and SSM 22815 and as described by Mr. Penelton, consist of three sections exposed by trenches and pits showing mineralized zones from twenty to forty feet wide over a strike length of 500 feet. A zone of high-grade chalcopyrite, having a minimum width of eight feet, is claimed to lie within this mineralized zone* Character samples of the zone, taken by Mr. P"?nelton during the staking, gave the following assays,

875^ Ore zone .03 oz. Au,, 1,05 oz, Ag,, 8,56/S Cu, Thesesamples do not represent average channel samples, but were taken to represent the different degrees of mineralization. My recollection of surface channel samples taken at the time of my second visit by Mr, Fraser of Falconbridge and Mr, Mosher, were from 2,555 to 3^ Cu. over an average widtn of eight. to ten i..fjeeJo but these samples were not taken at the showings in question, which

I considered, at that time, would average at least 5# Cu. over mining width

where exposed,

RECOMMENDATIONS AND CONCLUSIONS

From my study of this area, where structural conditions and geology

appear ideal for the deposition of sulphides, more particularly chalcopyrite,

I believe that the possibilities of finding an ore-body of major proportions may exist. Therefore, as a first step in developing this ground I suggest that a contract of 3000 feet of E, core drilling be arranged and a preliminary

series of holes spaced at intervals of 100 feet be drilled along strike, so- inclined as to cut the vein system at a depth of not more than ICO feet* Dependent on results obtained, deeper holes may be drilled to outline the rake

of shoots intersected,Respectfully submitted,

Dated at Toronto, Ontario, this 3rd day of March, 1952,

"John C. Rogers"

John C. Rogers.

CERTIFICATE

I, JOHN C. ROGERS, Suite HOI, Victory Building, 80 Richmond Street West, Toronto, in the County of York, Province of Ontario do hereby certifyt

1. THAT I am a Graduate of and have the degree of Bachelor of Science in Geology from Lehigh University,

2. THAT I have been practising my profession as Consulting Geologist

for 30 years,

3. THAT I have no interest direct, indirect, or expected in the property or securities of Destorada Mines Limited other than th*t I hold a ; vendor's interest of 15,000 shares or .435? of the capital stock of the company providing the company proceeds with its option on this property,

4. THAT I have made the accompanying report Sased chiefly on personal ;' examinations of the property made in 1934 and in 194 , but also based ir on the report of James E, Thomson referred to therein.

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"John C, Rogers"

John C. Rogers,

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DESTORADA MIMES LIMITED (No Personal Liability)

Incorporated under the laws of the Province of Chtarlo

BALANCE SHEET

February 29* 1952 .

CURRENT ASSETS:

Cash in bank

MINING CLAIMS at cost:

ASSETS

a.57

13 mining claims in Destor Township, Province of Quebec acquired for 1,200,000 shares at 2f each and #5,000 paid in cash 829,000,00

9 mining claims in the Township of Montgomery, District of Algoma, Province of Ontario, acquired for cash (see note) 1,000.00 30,000.00

DEFERRED CHARGES AND OTHER ASSETS:

Advance to prospectors Exploration expenses Organization expenses

679.5536,107.62

2,400.00 39,187.17

Note:In the event that the company decides on or before

June l, 1952, to retain the 9 mining claims in the Township of Montgomery, it must issue and allot to the prospector 100,000 shares of the Company's capital stock t.s further consideration for the claims. In the event that the company sells or other wise disposes of the claims prior to June l, 1952, it must pay to the prospector 10/S of the total consideration received,

LIABILITIES CURRBJT LIABILITIES:

Accounts payable and accrued liabilities

CAPITAL AND SURPLUS: Capital Stock:

Authorized - 3,500,000 shares of fcl.OO each

Issued -550,005 shares for cash

S69.208,74

l 878.24

Less discount

1,200,000 shares for claims Less discount

shares

550,005.00506,250.00 143,755.00

01,200,000.001,176,000.00 24,000.00

*67,755*00

575.50 68,330,50

Approved:"R. Glandfield" Director

"Edw, N, Johnson" Director

AUDITORS' REPORT

We have examined the balance sheet of Destorada Mines Limited (No Personal

Liability) as at February 29, 1952, and have obtained all the infornattori

explanations we have required. Our examination included a general review

the accounting procedures and such tests of accounting records and other '

supporting evidence for the period from January l, 1947 to February 29/1952;'

as we considered necessary in the circumstances.

In our opinion the above balance sheet is properly drawn up BO as to exhibit

a true and correct view of the state of the affairs of the company as at

February 29, 1952, according to the best of our information and the explanations

given to us and as shovn by the books of the company,"Gunn, Roberta and Oo^ft -

Toronto, March 13, 1952. Chartered

DESTORADA MINES LIMITED

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(No Personal Liability)

STATEMENT OF EXPLORATION AND ADMINISTRATIVE EXPENSES DEFERRED

Exploration expenses:

Diamond drilling (8,669 feet)Line cuttingSurface exploration and

prospectingSurveyingEngineering salaries and

expensesAssayingTemporary building and

equipment written off

Administrative and general expenses:

Head office and secretarialfees

Licenses and feesTransfer apent and registrarInsuranceLeâl and auditOther expensesProvincial capital and office

taxesInterest

Nov. 12/45to

Dec, 31/46

323,673.20840,00

561.50100,00

3,195.45103.87

328,474.02

3 1,500.00356.00

6.315* .32

99.09

3 2,019.72

130,493.74

Jan, 1/47to

Feb. 29/52

* 804.04

34.5629.00

783.82

3 1,651.42

e 250,001,726,75

379.03294.12925,00123.89

240.0023,67

0 3,962.46

5 5,613.88

Total

323,673.20840,00

1,365.54100.00

3,230.01132.87

783.82

330,125.44

3 1,750.002,082,75

385.34352.44925.00222.98

240.0023.67

3 5,982.18

336,107.62

STATEMENT OF SURPLUS

For period from November 12. 1945. to February 29. 1952

Profit on sales of securities 3 1,575.50

Deduct! :, : ,

Cost of mining claims abandoned JLf OOpfOO

Balance at February 29, 1952 l 575*50

"

DESTORADA MINES LIMITED (No Personal Liability)

l, Destorada Mines Limited (No Personal Liability) hereinafter

referred to as "the Company" was incorporated by Letters Patent dated

November 12, 1945, under Part XI of The Companies Act (Ontario). The

Head Office of the Company is at Suite 607, 320 Bay Street, Toronto,

Ontario.

2. The Officers and Directors of the Company are as follows i

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President and Director

Vice-presidentand Director

Director

Director

Director andSecretary- Treasurer

Rowland Glandfield,60 Dynevore Road, Toronto,Ontario.

Harry Thomas Hooper, 39 Courtland Avenue, Toronto, Ontario,

Rosol Pepperesa, Arntfield, Quebec.

Michael Abraham, 184 Cold- stream Avenue, Toronto, Ontario.

Edward Neil Johnson, Q.C., 8 Kingscourt Drive, Toronto, Ontario,

Stockbroker

Manager

Prospector and Developer


Barrister-at- Law.

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The promoters of the Company are K. H, Mcvittie, H. R. Bain and J. E*

Se anion, Stockbrokers, whose addresses are o/o Bain Newling tt Co,,

80 Richmond Street West, Toronto, and Rosol Pepperess whose address is

Arntfield, P.Q,

3. The Auditors of the Company are Gunn Roberta 6 Co,, Chartered

Accountants, 36 Toronto Street, Teronto,

4. The Registrar and Transfer Agent of the Company is The Canada

Trust Company, 110.Yonge Street, Toronto, Ontario,

5. The Company has an authorized capital of 13,500,000 divided

into 3,500,000 shares of the par value of 31,00 each, 1,750,005 sharer^

are issued and outstanding as fully p&id and non-assessable, t '

6. No Bonds or debentures of the Company are outstanding and the

Company does not propose issuing any bonds or debentures,

7. 530,000 of the original 1,200,000 vendor shares are presently

escrowed with The Canada Trust Company, as Trustee, subject to release ,,/,

only on the consent of the Ontario Securities Conraission and'upon the v

consent in writing of. the Company. The shares are subject to transfer pr

other alienation only with the written consent of the Commission, , : ,

8. The Comj)any has sold for cash to date (exclusive of the shares :

agreed to be sold under the underwriting agreement referred to in - "^

paragraph 13 hereof) 550,005 shares at the following prices: ; -y,;.v,

(a) 5 shares at $1,00 per share 200,000 shares at 5( per share 100,000 shares at 7J* per share 200,000 shares at lOJt per share

50,000 shares at 12j| per share

(b) total cash received for the shares sold as aforesaid was 143,755.00

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(c) no commissions were paid on the sale of the said shares,

9. There have been no securities of the Company other than the said

shares sold for cash by the Company,

10. 1,000,000 shares and $5,000 cash were issued and paid respectively

to K. H. Mcvittie, H, R. Bain and J, E. Scanlon, 80 Richmond Street West,

Toronto and 200,000 shares w*** issued to Rosol Pepperess of Arntfield, P,Q,,

in 1945 as consideration for he transfer to the Company of 13 mining claims

situate in Destor Township in the Province of Quebec, which claims are still

held by the Company, but on which no further development work is contem

plated at the present time,

11. The official designation and location of all properties of the

Company are as follows:

(i) (a) 13 mining claims situate in the Township of Destor in the Province of Quebec, more particularly described as

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Mining claims R51101, R51102, R51020, R51021, R51050, R51051, R51041, R51042, R51043, R51044, R51045, R51046, R51047, Destor Township, Quebec, held under Development Licenses 7191, 7192, 7193, 7194, 7195 issued in the Company 1 s name.

(b) 9 mining claims situate in the Township of Montgomery in the District of Algoma, Province of Ontario, more particularly described as follows;

Mining claims SSM22811-19 inclusive being parts of Lots 8 and 9, Concession 6, in the said Township of Montgomery, District of Algoma.

The Company is the recorded owner of all of the above mentioned

mining claims and the same are not subject to any leasas or options,

(id) (a) By agreement in writing dated November 14, 1945 made by the Company with J, B, Keachie, 320 Bay Street, Toronto, the Company agreed to purchase the 13 mining claims in the Province of Quebec above mentioned for 129,000 payable 55,000 in cash and the balance by issuing and allotting 1,200,000 of its capital stock Messrs. K. H. Mcvittie, H. R. Bain and J. E* Scanlon all of 80 Richmond Street West, Toronto, on whose behalf the said J. B. Keachie entered into the said agreement, received the 15,000 cash and 1,000,000 shares of stock and Rosol Pepperess of Arntfield, Quebec, received the balance of 200,000 shares of stock. As mentioned in paragraph 10 above the Company v does not propose doing any further development work on "v^ ; these claims at the present time,

(b) Under a prospecting agreement dated November 19, 1951 made by the Company with Michael Abraham of 184 Coldstream ';; Avenue, Toronto, Ontario, Michael Abraham staked and, ..^ ; ,.- recorded and transferred into the name of the Company tn*\f 9 mining claims situate in the Township of Montgomery, -)-1 r referred to in (i) (b) above, in consideration for whiolp-'^ the Company paid Abraham 91,000 and agreed, upon commencing development work thereon to cause to be delivered to~f, Abraham 50,000 fully paid shares of the Company and in event of the Company retaining the claims after June 1,;-^ ^v 1952, to issue and allot to Abraham 100,000 additional^ * shares of the capital stock of the Company as fully paid and non-assessable. In the event of the Company disposing i of the claims prior to June l, 1952, or having decided on or before the said date to allow the claims to lapse and then disposing of them by way of a bona fide sale to a ' stranger, Abraham is entitled to receive 10* of whatever consideration is received by the Company for the claimsi,

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(iii) The vendors of the 13 mining claims situated in the Province of Quebec who received 1,200,000 shares of the capital stock of the Company therefor have agreed with the Company to contribute the 50,000 shares to be given to Michael Abraham upon the commencement of development work by the Company on the 9 mining claims situate in Montgomery Township in the District of Algoma, as provided in the Agreement dated November 19, 1951 referred to in Paragraph (ii) (b) hereof.

12. There has been no development work done on the 13 mining claims situate in the Province of Quebec since 1946 and as stated above the Company does not intend doing any further work on these claims at the present time. A temporary building erected on this property and other equipment thereon have been written off.

Particulars relating to the 9 mining claims situate in the Township of Montgomery, District of Algoma are as follows:

This property consists of the 9 mining claims more particularly described in Paragraph 11 (i) (b) above, which claims are situate in the northern part of Montgomery Township in the District of Algoma. The property may be reached by motor road from Dean Lake, a station on the Sault branch of the C.P.R. via Iron Bridge distant 7 miles, thence by the White River Road 20 miles to the tote road at the Junction of Grassett, Township 175| Montgomery and Parkinson Townships, thence 5i miles by tote road to Williamson Lake and the property.

The claims were staked and recorded in November of 1951 and so far as is known no development work of any extent has ever been done on the property. No underground exploration or development work has been done thereon and there is no underground plant or equipment. The only surface exploration and development work done to date by the Company was that dore in connection with the location of the finds on mining claims SSM22812 and 22815 and in connection with the staking and recording of the claims. There is no surface plant or equipment on the property. The known history of the property is as set out in the report of John C, Rogers dated March 3, *952 which said report is incorporated with and forms part of this prospectus. Save as aforesaid no work has been done or improvements made on the property by the present management,

13. By Agreement dated the 7th day of March 1952 made by the Company with Berwick Securities Limited of 45 Richmond Street West, Toronto, Berwick Securities Limited subscribed for 200,000 shares of the capital stock of the Company at 7^f per share agreeing to make payment therefor on the date on which the Company receives a letter from the Securities Commission of Ontario acknowledging receipt and filing of a prospectus relating to the affairs of the Company. Berwick Securities Limited was also granted options to purchase shares of the Company as follows t

200,000 shares at the price of 10* per share within 3 months after the date of the filing of the prospectus aforesaid

100,000 shares at the price of 12^ per share within 6 months after the date of the filing of the prospectus

200,000 shares at the price of 15* per share within 9 months after the date of the filing of the prospectus



* Effective date - the 27th day of March, 1952,

120,000

.12,500'-::; -.

.30,000 ;;^,:;,••^.^S-v'-v-.. :: 'v:|f

25,000

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50,000 shares at the price of 35^ per share within

18 months after the date of the filing of the prospectus


100,000 shares at the price of 50^ per share within24 months after the date of the filing of

_____ the prospectus

1,000.000

817,500

17,500

50.000

*212,500

In the event of default in any payment the Company may give 15 days notice

of such default to the optionee, which may remedy the default within such,

period, failing which its further rights under the agreement are forfeited,

In event of default an amending statement will be filed within 20 days from

the date of such default. There are no sub options. The following are tne

names and addresses of all persons having more than a 5/6 interest in Berwick

Securities Limited, viz: C. A. Lister, 80 Richmond Street West, Toronto,

Ontario.

14. The Company presently intends expending so much of the proceeds

received from the sale of shares under the firm commitment from Berwick i

Securities Limited referred to in Paragraph 13 as may be necessary to perform

3,000 feet of E, core drilling to consist of the drilling of a preliminary

series of holes spaced at intervals of IX feet along the strike, so inclined

as to cut the vein system at a depth of not more than 100 feet. Depending

upon results obtained deeper holes may be drilled to outline the rake of

shoots intersected.

15. The Company has been incorporated since November 1945,

16. The Company does not propose creating or assuming any indebtedness

which is not shown in the balance sheet as of February 29, 1952, filed here

with and accompanying this prospectus, other than current amounts for

diamond drilling, engineering and head office expenditures in connection

with its development programme as outlined above,

17. (a) The principal business in which each director or officer of the

Company has been engaged during the past 3 years is as follows i

Rowland Glandfield

Harry Thomas Hooper

Rosol Pepperess

Michael Abraham

- Stockbroker and partner in the firm of Bain Newling 6 Co., Toronto,

- Manager, Saphir Tavern, Toronto,

- Prospector and Developer atArntfield, Quebec, Self employed.

Edward Neil Johnson, Q.C, -

Prospector and Developer at Toronto, Ontario, Self employed,

Barrister-at-Law and partner in the firm of Harris, Keachie St Johnson, Toronto,

(b) Rosol Pepperess was one of the vendors of the 13 mining claims

situate in the Province of Quebec held by the Company, receiving 200,000

shares of its capital stock in payment for his interest therein.

Michael Abraham staked and recorded the 9 mining claims in X\

Montgomery Township, Ontario, on behalf of the Company, and, if the Company

retains the same beyond June l, 1952, is entitled to receive 100,000 shares

of its capital stock in payment for his services. The vendors of the Quebec

Claims have also agreed to contribute 50,000 shares of the capital stock of

the Company held by them to Michael Abraham upon the Company commencing

development work on the Ontario mining claims in satisfaction of the

obligation of the Company under its prospecting agreement with Abraham,

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(c) No remuneration was paid by the Company to any of its directors

during its last financial year, nor does the Company expect to pay any such

remuneration during the current financial year. No remuneration has been

paid to any of the officers of the Company during the past financial year

and it does not expect that the total remuneration payable to officers as

such during the current financial year will exceed the sum of ^2,50^,00,

18. years,

No dividends have been paid by the Company during the past five

19. The following are the names and addresses of the persons who by

reason of beneficial ownership of shares of the Company are in a position to

elect a majority of the directors of the Company, vizj

H, R. Bain, c/o Bain Newling ft Co., 80 Richmond Street West,Toronto,

J. E. Scanlon, c/o Bain Newling fc Co., 80 Richmond Street West,Toronto,

K. H, Mcvittie, c/o Bain Newling it Co., 80 Richmond Street West,Toronto,

Rosol Pepperess, Arntfield, P.Q,

There is no arrangement known to the signatories for the sale of vendor

stock.

20. The foregoing constitutes full, true and plain disclosure of all

material facts in respect of the offering of securities referred to above

as required by Section 38 of The Securities Act (Ontario) and there is no

further material information applicable other than in the financial

statements or reports where required.

Dated this '2Uh' -day of March, 1952,

"R. Glandfield"

Director

"H. T, Hooper"Director

"M. Abraham"

Director

"Edw, N, Johnson"

Director

"Rosol Pepperess"

By his Agent

Director

"Sdw. N. Johnson"

m

To the best of our knowledge, information and belief

going constitutes full, true and plain disclosure of all materiali.^^^,^

in respect to the offering of securities referred to above as require^ by

Section 38 of The Securities Act (Ontario) and there is no further ^;fe

material information applicable other than in the financial statei^n^;^^

reports where required. In respect of matters which are not withiv 6w'^

knowledge, we have relied upon the accuracy and adequacy of the foregoing

Dated this "2Athtiay of March, 1952.

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BERWICK SECURITIES LIMITED

"H, H, Prittie" "Chaa. A. Lister"________Underwriter and Optionee,

(Corporate

PROSPECTUS

of


K Destorada Mines Limited (No Personal Liability)

hereinafter referred to as "the Company" was incorporated

by Letters Patent dated November 12, 1945, under Part XI of

The Companies Act (Ontario), The Head Office of the Company

is at 607 Canada Permanent Building, 320 Bay Street, Toronto,

Ontario.

2, The Officers and Directors of the Company are as

follows:

President and Rowland Glandfield, Director 60 Dynevore Road,

Toronto, Ontario,

Stockbroker

Manager



Barriater-at- Law.

The promoters of the Company are K, H. Mcvittie, H. R. Bain

(now deceased) and J. E, Scanlon, Stockbrokers, and the above

mentioned Rosol Pepperess. The address of Messrs. K. H. Mcvittie

and J, E. Scanlon is 80 Richmond Street West, Toronto,

Ontario,

3. The Auditors of the Company are Gunn, Roberta tt Co,,

Chartered Accountants, 36 Toronto Street, Toronto, Ontario.

4. The Registrar and Transfer Agent of the Company le

The Canada Trust Company, 110 Yonge Street, Toronto, Ontario*

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V* V ice-President Harry Thomas Hooper,

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andDirector

Director

Director

Director andSecretary-Treasurer

39 Courtland Avenue,Toronto, Ontario.

Rosol Pepperess,61 Horne Avenue,Rouyn, P, Q,

Michael Abraham,184 Cold stream AvenueToronto, Ontario.

i

James Thompson Garrow,34 Chestnut Park Road,Toronto, Ontario

5, The Company has an authorized capital of S3, 500, 000,

divided into 3, 500, 000 shares of the par value o! SI. 00 each,

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2,276,671 shares are issued and outstanding as fully paid

and non-assessable,

6. No Bonds or debentures of the Company are out

standing and the Company does not propose issuing any bonds or

debentures,

7. 480, 000 of the original l, ZOO, 000 vendor shares

are presently escrowed with The Canada Trust Company, as

Trustee, subject to release only on the consent of the Ontario

Securities Commission and upon the consent in writing of the

Company. The shares are subject to transfer or other

alienation only with the written consent of the Commission,

8. The Company has sold for cash to date (including

66,666 of the shares agreed to be sold under the underwriting

agreement referred to in paragraph 13 hereof) 976,671 shares

at the following prices;

(a)

(b)

(c)

S shares at SI. 00 per share 210,000 shares at 5{ per share 366,666 shares at 7.1/2^ per share 350,000 shares at 10{ per share 50,000 shares at 12 1/2? per share

total cash received for the shares sold as aforesaid was S79,255,00

no commissions were paid on the sale of the said shares.

9. There have been no securities of the Company other

than the said shares sold for cash by the Company.

10. 1,000,000 shares and S5,000 cash were issued and

paid respectively to K. H. Mcvittie, the late H. R. Bain and

J. E, Scanlon, 80 Richmond Street West, Toronto, and 200,000

shares were issued to Rosol Pepperess of Rouyn, Quebec, in

1945 as consideration for the transfer to the Company of

13 mining claims situate in Destor Township in the Province

of Quebec, which claims are still held by the Company, but on

which no further development work is contemplated at the

present time.

11, The official designation and location of all

properties of the Company are as follows;

3-

(i) (a) 13 mining claims situate in the Township of Destor in the Province of Quebec, more particularly described as follows;

Mining claims R51101, R51102, R51020, R51021, R51050, R51051, R51041, R51042, R51043, R51044, R51045, R51046, R51047, Destor Township, Quebec, held under Development Licenses 7191, 7192, 7193, 7194, 7195 issued in the Company's name,

(b) 14 mining claims situate in the Township ofMontgomery in the District of Algoma, Province of Ontario, more particularly described as follows:

Mining claims SSM22811-19 inclusive and SSM23134-38 inclusive being parts of Lots 8 and 9, Concession 6, in the said Township of Montgomery, District of Algoma,

(c) Four mineral claims totalling approximately 200 acres situate South-east of Murmac Bay, Beaverlodge Lake area, Athabaska Mining District, Province of Saskatchewan, being mineral claims Gamp Numbers 10, 11, 12 and 13,

The Company is the recorded owner of all of the

mining claims referred to in (a) and (b) above. The claims

referred to in (c) above are recorded in the name of Gene

Scanlon who holds the same in trust for the Company, under a

declaration of trust dated January 14, 1954. None of the said

claims are subject to any leases or options*

(ii) (a) By agreement in writing dated November 14, l? \5, made by the Company with J, B, Keachie, 320 Bay Street, Toronto, the Company agreed to purchase the 13 mining claims in the Province of Quebec above mentioned for |29,000 payable |5,000 in cash and the balance by issuing and allotting 1,200,000 of its capital stock* Messrs* K, H. Mcvittie, the late H. R, Bain and J* E* Scanlon all then of 80 Richmond Street West, Toronto on whose behalf the sa^d J* B* Keachie entered into the said agreement, received the SS, 000 cash and 1,000,000 shares of stock and Rosol Pepperess of Rouyn, Quebec, received the balance of 200,000 shares of stock, As mentioned in paragraph 10 above the Company does not propose doing any further development work on these claims at the present time, ' v

- '' -/.y ' l ;-i ' '

(b) Under a prospecting agreement dated November 19, 1951, made by the Company with Michael Abraham of 184 Coldstream Avenue, Toronto, Ontario i Michael Abraham staked and recorded and transferred into the name of'the Company the 14 mining claims situate in the Township of Montgomery, referred to in (i) (b) above, in consideration for which,the Company paid Abraham Si, 500 and agreed, upon commencing development work thereon to cause to be delivered to Abraham 50,000 fully paid shares of the Company and in the event of the Company retaining the claims after June l, 1952, to issue

l

00

(c)

(iii)

.4.

and allot to Abraham 100,000 additional shares of the capital stock of the Company as fully paid and non-assessable, The aforesaid 50,000 shares and 100,000 shares were duly transferred and allotted respectively to Abraham in accordance with the terms of the said agreement, The said 50,000 shares were donated by previous vendors, The Company does not propose doing any further de velopment work on these claims at the present time,

The Company acquired the four mineral claims referred to in 11 (i) (c) above from Gamp Syndicate, whose address is 80 Richmond Street West, Toronto, for the sum of $3I 750 which amount has been paid by the Company*

No person or company has received or is to receive from any vendor a greater than five per cent interest in the shares or other consideration received or to be received by the vendor.

12, (a) Claims in Destor Township, Quebec

There has been no development work done on the

13 mining claims situate in the Province of Quebec since

1946 and the Company does not intend doing any further work

on these claims at the present time. A temporary building

erected on this property and other equipment thereof have

been written off,

(b) Claims in Montgomery Township, Ontario,

The Company does not at present intend doing

further development work on these claims, although the surface

exploration and shallow diamond drilling done thereon in 1952

warrants additional work when funds are available,

In 1952 the Company expended on this property in actual

mining operations a sum in excess of S27,000*00 resulting in

the mapping out of two extensive copper ore bodies, The

two ore bodies have an indicated tonnage of 210,000 tons

with an indicated grade of $lO, 00,

There is no underground or surface plant or equip*

ment on this property,

(c) Claims in Beaverlodge Lake Area - Saskatchewan

These claims constitute a group of four claims

totalling approximately 200 acres situated in the Murmac

-5-

Bay locality on the east side of Beaverlodge Lake, The

claim group lies four miles south of the Eldorado Mine and

adjoins the property of Black Bay Uranium Limited on the

north-east.

The claims comprise Gamp Numbers 10, 11,12 and

13 and were staked in the spring of 1952 by K* S, Oliver who

has conducted surface prospecting thereon under the direc

tion of the former c "ners* No diamond drilling or other

sub-surface work has been performed on these claims, and

there is no underground plant or equipment, There is no

surface plant or equipment on the property and no work

has been done or improvements made as yet by the present

owner,

Widespread radio-activity occurs in the Murmac

Bay locality and numerous finds of pitchblende have been

made in this section during the past field season. Recent

exploration on adjoining properties would indicate that

these claims occupy a midway position along an indicated

belt of pitchblende mineralization.

For further details regarding these claims

reference should be made to the report of E, K, Fockler

dated January 15, 1954, which is attached and forms part

of this prospectus,

13. By Agreement dated the 13th day of January, 1954,

made by the Company with Newling b Co*, of 80 Richmond

Street West, Toronto, Newling b Co, subscribed for 100,000

shares of the capital stock of the Company at 7 1/2^ per shats

agreeing to make payment therefor as to S5,000* 00 thereof.

on the execution and delivery of the agreement and as to

the balance of S2, 500,00 on the effective date, being the

5th day of February, 1954, Newling b Co, was also.

granted options to purchase shares of the Company as

t , , follows:

-6-

100,000 shares at the price of 7 1/2? per share within 3 months after the effective date

200,000 shares at the price of 101 per share within 6 months after the effective date

200,000 shares at the price of 151 per share within 9 months after the effective date

200,000 shares at the price of 20tf per share within 12 months after the effective date

200,000 shares at the price of 25{ per share within 15 months after the effective date

S 7,500

30,000

30,000

40,000

50,000

|U7,500900,000

In the event of default in any payment the Company may give

15 days' notice of such default to the optionee, which may

remedy the default within such period, failing which its

further rights under the agreement are forfeited. In event

of default an amending statement will be filed within 20 day*

from the date of such default, Newling tt Co, proposes selling

the said shares taken up under the above mentioned agreement

to registered dealers at an advance in each instance of If

per share. There are no sub-underwriting or tub-option

agreements and none are contemplated save for the purpose of

giving effect to the foregoing proposal. The following

are the names and address of all persons having more than

a W interest in Newling fc Co., via: R,S, Newling,

Rowland GUndfield, J. C, Steen, K, H, Mcvittie, J, W, Hicks,

and Charles A. Lister, all of 80 Richmond Street West, Toronto,

Ontario.

The share purchase and option agreement dated

March 7, 1952, as amended by agreements dated June 25 and

September 9, 1952, made by the Company with Berwick Securities

Limited of Toronto, has been cancelled. Under that agreement".' '. - " -^ i

Berwick Securities Limited took down 350,000 shares of the -:

Company at prices ranging from 7 1/2^ to 10^ per share,

:-.

-7-

enGO

14. The Company has expended approximately S5,000 of

the proceeds already received from the current sale of shares

of the Company in acquiring for S3, 750, 00 the mineral claims

described in paragraph 11 (i) (c) above and in paying certain

liabilities of the Company, The balance of proceeds received

from the sale of shares will be used to the extent required

and so far as reasonably possible in surface exploration

on the said claims,

15. The Company has been incorporated since November,

1945,

16. The Company does not propose creating or assuming

any indebtedness which is not shown in the balance sheet as of

January 15th, 1954, filed herewith and accompanying this

prospectus, other than current amounts for exploration!

engineering and head office expenditures in connection with

its development programme as outlined above,

17. (a) The principal business in which each director or

officer of the Company has been engaged during the past 3

years is as follows:

Rowland Glandfield

Harry Thomas Hooper

Rosol Pepperess

Michael Abraham

James Thompson Garrow

- Stockbroker and partner in the (irm of Bain Newling. It Co, and in the firm of Newling (c Co., Toronto,

- Manager, Saphir e Tavern, Toronto.

- Prospector and Developer at Rouyn, Quebec* Self employed*

- Prospector and Developer at Toronto, Ontario. Self employed, ,

- Barrister-at-Law and partner in the firm of Harris, Keachie, Garrow fit Davie*, Toronto*

v/t

(b) No officer or director of the Company holds or

held any interest in the properties of the Company, except

as follows:

Rosol Pepperess was one of the vendors of the

t i t;

-8-

13 mining claims situate in the Province of Quebec held by

the Company, receiving 200,000 shares of its capital stock

in payment for his interest therein.

Michael Abraham staked and recorded the 14 mining

claims in Montgomery Township, Ontario, on behalf of the

Company, and received 100,000 shares of its capital stock

in payment for his services, The vendors of the Quebec

claims als* contributed 50, 000 shares of the capital stock

of the Company held by them to Michael Abraham in satisfaction

of the obligation of the Company under its prospecting

agreement with Abraham,

(c) No remuneration was paid by the Company to any of

its directors during its last financial year, nor does the

Company expect to pay any such remuneration during the current

financial year. No remuneration has been paid to any

of the officers of the Company as such during the past financial

year and it does not expect that the total remuneration

payable to officers as such during the current financial

year will exceed the sum of SI, 500, 00,

18. No dividends have been paid by the Company during

the past five years.

19. The Company does not know of any persons who

by reason of beneficial ownership of ehares of the Company or

by reason of any agreement in writing are in a position to

elect a majority of the directors of the Company,

There is no arrangement known to the signatories for the

sale of vendor stack.

Vendor stock as released from escrow and shares

previously sold for cash may be sold by the holders thereof -y

but the proceeds will net accrue to the treasury of the

Company, -: ,

20. The foregoing constitutes full* true and plain '

'

-9-

CD GQ

i M

P';' Sifte *"

fi:

disclosure of all material facts in respect of the offering

of securities referred to above as required by Section 38 of

The Securities Act (Ontario) and there U no further material

information applicable other than in the financial statements

or "eports where required,

DATED this "4th" day of "February" 1954,

"R. Glandfield"

Director

"M. Abraham"

Director

"Harry Hooper"

Director

"J. T. Garrow"

Director

"Rosol Pepperess"

rirector

By his Agent "J, T, Garrow'

To the best of our knowledge, information and belief the foregoing constitutes full, true and plain dis closure of all material facts in respect to the offering of securities referred to above as required by Section 38 of The Securities Act (Ontario) and there is no further material information applicable other than in the financial statements or reports where required, In respect of matters which are not within our knowledge, we have relied upon the accuracy and adequacy of the foregoing.

Dated this "4th" day of "February" 1954, ,

NE W MUG fe CO.

"J, G, Steen" "K, H, Mcvittie"

IMi

*s l

Underwriter and Optionee

Sp*''.:

COS

JM'*0

C/l

MONTGOMERY i se NOUVEL oso

REPORT ON DESTORADA CLAIMS

BEAVERLODGE LAKE AREA, SASKATCHEWAN

The holdings under description constitute a group

of four claims totalling approx, 200 acres situated in the

Murmac Bay locality on the east side of Beaverlodge Lake,

The claim-group lies four miles south of the Eldorado mine

and adjoins the property of Black Bay Uranium Ltd. on the

north-east,

The mining locations, comprising claims Camp Nos,

10, 11, 12 and 13, were staked in the spring of 1952 by

K. S. Oliver who has conducted surface prospecting thereon

under direction of the Gamp Syndicate, the former owner, No

diamond drilling or other sub-surface work has been performed

on this ground,

The geology of the general area in which the

Destorada property is located has been studied and mapped in

some detail by the Geological Survey of Canada and is repro

duced on map.sheet No. 1015A covering the Goldfields-Martin

Lake Area, As shown thereon, the claim-group is almost

entirely underlain by bedded mofic-type rocks of the local

T a 2.1 n series.

Structural features of the Murmac Bay locality

attracted the interest of Mr, Oliver initially, and it was on

this geological aspect that the s taking s were marked out,

Direction of bedding indicates local folding apexing on and

adjacent to the Destorada ground. This condition in turn

suggests fracture-development and structural conditions

generally considered to be favorable for deposition of

uranium-bearing ores. Widespread radioactivity occurs in the

Murmac Bay locality and numerous finds of pitchblende have

been made in this sector during the past field season.

Although no discoveries of pitchblende or important

radioactivity was detected on the Destorada claims during the

wr J K,

if

" V;';. ;-y

ff

limited amount of geiger-reconnaisance conducted thereon in

1952, recent exploration on the adjoining property of Black

Bay Uranium Ltd. is reported to have disclosed highly

impressive occurrences of pitchblende ore, one of which lies

about one-half mile west of Oestorada g r our, J and strikes

north-easterly toward the claim-group. Adjacent to the north

east of the holdings, finds of pitchblende have been made on

properties held by Red Poplar Gold Mines Ltd,, and D. F, Hurd

et al. The occurrences mentioned appear to lie within a

northeastly-trending belt extending from the south-central

portion of the Black Bay property for a distance of at least

five miles to the occurrence near the east end of Melma Lake

on the Red Poplar ground. The Destorada claims thus occupy

a midway position along the indicated belt of pitchblende

mineralization.

In view of the reported highly encouraging

results of current exploration in the apparent uranium-bearing

belt described, I recommend systematic geiger-survey and

detailed geological mapping of the Destorada claims at first

opportunity during the ensuing field season,

"E. K. Fockler"E, K, Fockler

Consulting Mining Geologist

Toronto, Jan, 15, 1954

CERTIFICATE

The Directors, Destorada Mines Ltd,

Dear Sirs;

In accordance with the requirements of the Ontario Securities Commission, this letter is intended to be used as a certificate to accompany my report dated Jan, 15, 1954 entitled Report on Destorada Claims, Beaverlodge Lake Area, Saskatchewan,

I, the undersigned, am a graduate of the University of Toronto (Geology and Minerology) and have been practicing my profession for twenty-six years, having maintained my office at the above address for the past sixteen years in the capacity of Consulting Mining Geologist,

ffife:' ' -3-

:

I certify that I have no interest, nor do I expect to receive any interest, either directly or indirectly in the property or securities of Destorada Mines Limited.

My report is based on my personal knowledge of the Beavcrlodge Lake Area, Saskatchewan, and on published maps and reports of the Geological Survey of Canada covering that area,

Yours truly,

"E, K. Fockler"

E. K, Fockler

'A'-"f.''.'':.'-'-. : - :\ . . ; ' '''.-r:. 1.

^^ 'S'T:^.^;;^'-^1 '-" -.. .."'.' . "'y ', ." . -i' -- * i,'*^''

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Incorporated under the laws of the Province of Ontario

BALANCE SHEET

January 15, 1954

C*

ASSETS CURRENT ASSETS:

Cash in Bank S 139,19 Prepaid expenses 240,00 379.19

MINING CLAIMS at cost:

13 mining claims in Destor Township, Province of Quebec acquired for 1,200,000 shares at 2^ each and S5,000 paid in cash S 14 mining claims in the Township of Montgomery, District of Algoma, Province of Ontario, acquired for 100,000 shares at 10f each and SI, 500 paid in cash 4 mineral claims in the Beaverlodge Lake area, Athabaska Mining District, Province of Saskatchewan acquired for cash

DEFERRED CHARGES;

29,000,00

11,500.00

3,750,00 44,250.00

Exploration and administrativeexpenses S 66,801.31Organization expenses 2,400. 00

Note:The Company has agreed to sell 33, 334 shares of its capital stock for the sum of |2, 500 payable forthwith upon it receiving a letter from the Ontario Securities Commission acknowledging the receipt and filing of a prospectus with respect to the affairs of the Company, and has granted an option on 900,000 shares at prices ranging from 7 1/2? to 25f per share expiring on dates up to 15 months after the date of filing such prospectus.

LIABILITIESCURRENT LIABILITIES

CAPITAL AND SURPLUS: Capital Stock;Authorized - 3,500,000 shares of 51,00 each.

Issued - 976,671 shares for cash i

Less discountl, 300,000 shares for claims

Less discount

976,671,00897.416.00

SI, 300,000,00 1,266,000,00

2,276,671 shares

Surplus

Approved:

"R, Glandfield"

"J, T, Garrow"

Director

Director

69,201.31

3, 830,50

Nil

S 79.Z55.00

34,000,00

$l13,255,00

575.50

1113,830.50

C 1 \

AUDITORS' REPORT

We have examined the balance sheet of Dectorada Mines Limited (No Personal Liability) as at J?ruary 15, 1954 and have obtained all the information and explanations we have required. Our examination included a general review of the accounting procedures and such tests of accounting records and other supporting evidence for the period from March l, 1952 to January 15, 1954, as we considered necessary in the circumstances.

In our opinion the above balance sheet is properly drawn up so as to exhibit a true and correct view of the state of the affairs of the Company as at January 15, 1954, according to the best of our information and the explanations given to UP and as shown by the books of the company*

"Gunn, Roberts and Co*" Chartered Accountants.

Toronto, January 26, 1954,


STATEMENT OF EXPLORATION AND ADMINISTRATIVE EXPENSES DEFERR~5S

Exploration expenses: Nov, 12/45 Mar. 1/52 Totalto to

Feb. 29/52 Jan. 15/54

Diamond drillingLine cuttingSurface exploration and

prospectingSurveyingSalaries and "xpenses of

engineers, geologists, etc.AssayingTemporary building and

equipment written offOther expenses at property

Administrative and generalexpenses:

Head office and secretarialfeesLicenses and feesTransfer agent and registrarInsuranceLegal and auditOther expensesProvincial capital and officetaxesInterest

STATEMENT

$23,673.20840.00

1,365.54100,00

3,230.01132.87

783.82

$30 I 125.44

S 1,750.002,082.75

385. 34352.44925.00222.98

240. 0023.67

S 5,982.18

136,107.62

S21,782,25

95.00

4,315.08256.55

123,99

126,572.87

S 1,400.00702.15527,02

1*025.00406,65

60.00

14,120.82

$30.693,69

$45,455.45840, 00

1,460.54100,00

7,545.09389.42

783. 82123.99

156,698,31

S 3*150,002, 784, 90

912.36352.44

1*950.00629,63

300, 0023,67

SI 0,103. 00

$66,801,31

OF SURPLUS

For the period from November 12, 1945

Profit on sale of securities

Deduct:

to January 15

Cost of mining claims abandoned

Balance, January 15, 1954

, 1954

l 1,575,50

1,000*00

$ 575,50

V^'v.. i

' P ros (x (f vi of

DESTOHADA MINES LIMITEDUNDER THE SECURITIES ACT, (ONTARIO)

AND THE SECURITIES ACT, SASKATCHEWAN

1. Destorada Mines Limited (hereinafter called "the Company") was incorporated by Letters Patent dated 12th

November, 1945, under Part XI of The Companies Act (Ontario). The head office of the Company is 170 Bay Street, Toronto, Ontario.

2. President and Director: ROWLAND GLANDFIELD, Broker-Dealer, 60 Dyncvore Road, Toronto, Ontario.

Vice-President and Director: STANLEY BRUCE LANDELL, Mining Executive, 241 Rose Park Drive, Toronto, Ontario.

Secretary.Treasurer ami Director: HYLPA MORIARTY, Secretary, 112 Mildcnhall Road, Toronto, Ontario.

Director: ROBERT TRAIL GRAY, Golf Professional, 97 Hill Crescent, Scarborough, Ontario.

Director: JOHN THOMAS BRAZIER, Executive, 151 Wallace Avenue, Toronto, Ontario.

Promoters: K ENNETH HALL McVITTIE, Security Salesman, JO Rosemary Lane, Toronto, Ontario.

JOSEPH EUGENE SCANLON, Security Salesman, l Humber Trail, Toronto, Ontario.

Henry Rupert Bain was also a promoter of the Company but is now deceased. Rosol Pepperess, 6 1 Horne Avenue,

Rouyn, Quebec, was also a promoter of the Company but has no linger any connection with it except as the holder

of a small number of escrowed shares.

3. A uditors; G UNN, ROBERTS 8c CO., Chartered Accountants, 36 Toronto Street, Toronto, Ontario.

4. Rr&iitrer anJ Transfer A^-nt: THE CANADA TRUST COMPANY, 110 Yonge Street, Toronto, Ontario.

5. The authorised capital of ilw Company consists of 3,500,000 common shares of a par value of S 1.00 each,

of which 2,535,005 shares have been issued.

6. There are no bonds or debentures outstanding nor does the Compjny propose to issue any.

7. A total of 480,000 shares are held in escrow by The Canada Trust Company subject to release pro rata to all

persons entitled thereto upon the consent of the Ontario Securities Commission and the directors of the Company, The

written consent of the Ontario Securities Commission is required for any transfer or other alienation of (hares within

the escrow.

S. The following shares have been told for cash:5 shares at H.00 per share . ,. . . .......... ........................................... l 5.00

210,000 shares at .05 per share . . .......-... ...., . ........... ............................~ 10,500.00

.0754 per share... .. .. ........ ....................................................... 46,875.00

.10 per share . . .. . . .... .. ... ... ......... .... - ....-..... . .......... 3 5.000.00

,125/i per share.. . . . ...... . ...,. ... .... ... .......... ............... { .2)0.00

625,000 shares at150,000 shares at50,000 shares at

1,235,005 t 98,00.00

No commisison was paid nor it any payable in respect of the said shares. There are no securities of the Company

other than shares.

9. No shares have been issued or are to bc issued nor was any cash paid nor is any payable to any promoter for

promotional or other services.

10. (a) By agreement dated 14th November, 1945, the Company agreed with James Bicknell Keachie, 210 Wtnletl

Avenue, Toronto, Ontario, to purchase thirteen unpatented mining claims in Destor Township, Province of Quebec,

for the sum of 129,000.00 payable i5.000.00 in cash and the balance by alloting and Issuing 1,200,000 shares of the

capital stock of the Company. The four promoters mentioned in paragraph 2 hereof, on whose behalf James Bicknell

Keachie was acting, received all of the 1,200,000 shares and the'*5.000.00. 1,080,000 of the said shares were deposited in escrow with The Canada Trust Company subject to release only with the consent of the Ontario Securities Com*

mission and the director, of the Company. Since that date 600,000 of such shares have been released from escrow,

After an extensive exploration and diamond drilling programme the claims, upon the recommendation of the Company l

engineers, was abandoned.

(b) By agreement dated 18th November, 1949, between the Company and Ross Toms, Prospector, 180

Hillhurst Boulevard, Toronto, Ontario, Ross Toms agreed to stake for the Company thirty unpatented mining claim*

in the Chibouâmau District, Province of Quebec, adjacent ̂ t^'TMSlMl^Wi*5 WiifliffiP"nMftv iunilet

in consideration of the turn of H,000.00 paid to him bf the\UUpaiyUirhaidWuit\Ver4j4WW] abandoned when the drilling carried out by Lake Surprise Mining Company. Limiud proved limner

M

,~" '•••' " "'i?"'* 1o.:;?fc

THIS IS EXHIBIT. Q DATE^/sM^.SSM-125

lv(c) GROUP l

The Company Si the recorded holder of the following unpatented mining claims situate in the Township of Montgomery, District of Algoma, Province of Ontario:

SSM-22811 to SSM-22819, both inclusive SSM-23134 to SSM-23138, both inclusive

being parts of Lots 8 and 9, Concession 6 . The group of nine claims were staked pursuant to an agreement dated 19th November, 1951, between the Company and Michael Abraham, 184 Coldstream Avenue, Toronto, Ontario. The consideration was that the Company paid Michael Abraham 11,000.00 and agreed upon commencing development work thereon to cause to be delivered to Michael Abraham 50,000 shares of the capital stock of the Company, and in the event of the Company retaining the claims after 1st June, 1952, to allot and issue to Michael Abraham 100,000 additional shares of the capital stock of the Company. The aforesaid shares were duly transferred and allotted and issued to Michael Abraham in accordance with the terms of the said agreement. The said 50,000 shires were donated by the promoters on a pro rata basis.

The group of five claims were staked by John Penelton, now deceased, in April, 1952, at a cost of {500.00 to the Company. '

(d) GROUP 2

The Company i* vhr beneficial holder of the following unpatented mining claims situate in the Beaver- lodge Lake Area, Athabaska Mining District, Province of Saskatchewan:

GAMP Numbers 10, 11, 12 and 13 GAMP Fractions Numbers l, 2 and 3.

The claims were acquired 13th January. 1954, from Gamp Syndicate, 80 Richmond Street West, Toronto, Ontario, for the sum of {3,750.00. Toe claims are held for and on behalf of the Company pursuant to a Declaration of Trust executed by Rowland Glandfield, 60 Dynevore Road, Toronto, Ontario.

(e) To the knowledge of the signatories hereto no person received or is entitled to receive from any vendor a greater than Y'/c interest in the vendor considerations mentioned above.

11. An account of the accessibility, known history, surface and underground exploration and development r-* Groups l and 2 is contained in the report of E. K. Fockler dated 8th November, 1955, to which reference it hereby made and which forms a part of this prospectus. There b no surface or underground plant or equipment on either groups. All of the work mentioned in the said report was done while Rowland Glandfield was President and Director of the Company, but before any of the other Directors took office.

12. The Company proposes to expend the proceeds from the current talet of its securities in carrying out the recommendations of the Company's engineers in relation to the further development of Groups l and 2 and in acquiring additional claims if recommended by the Company's engineers and in general corporate purposes.

13. (a) Pursuant to various underwriting and option agreements during the period from November, 1945 to April, 1955, between the Company and Robert Davies, 2 6 Adelaide Street West, Toronto, Berwick Securities Limited, 10 Richmond Street West, Toronto, Ontario, Newling tt Co. Ltd., 80 Richmond Street Wett, Toronto, Ontario, and Stanley Bruce Landell, 241 Rose Park Drive, Toronto, Ontario, the Company told a total of 1,225,000 tharet of its capital stock at prices ranging from 5c to 12^c per share. A total of 10,000 shares of the Company's capita! stock was purchased by Messrs. Mcvittie and Scanlon in February, 1953, at 5c per share.

(b) By agreement dated 17th November, 1955, between the Company and Minerva Mining Corporation Limited, 170 Bay Street, Toronto, Ontario (hereinafter called "the Underwriter"), the Underwriter subscribed {or and agreed to pay for 200,000 shares of the capital stock of t IK Company at lOc per share for the turn of 120,000.00 payable as follows:

{10,000.00 within seven days of 7th December, 1955 (hereinafter called "the effective date"); {10,000.00 within two months of the effective date.

In consideration of this firm purchase the Company granted to the Underwriter the sole and exclusive option to purchase all or any part of an additional 700,000 shares as follows:

/'-- - 200,000 shares at 12 '/ic per share payable within six months of the effective date; 200,000 shares at 15c per share payable within nine months of the effective date; 200,000 shares at 17 [4c p*r share payable within twelve months of the effective date; 100,000 shares at 20c - ^r share payable within fifteen months of the effective date.

In the event of default by the Underwriter in exercising its options the Company hat the right to cancel the agreement by giving- the Underwriter fifteen (15) days' notice in writing of its intention to do to. The Company undertake*, in the event of default, to file an amendment to this prospectus within tweny (20) days of tuch default, providing the shires of the Company are still in the course of primary distribution. There are no sub-options or tub-underwriting agreements outstanding, or proposed, at the present time, except as mentioned in paragraph l J (c) hereof, nor doct the Underwriter propose to assign its agreement. The underwriter has not entered into this agreement f or or on behalf

of any other person or Company. The only person who has more than a 5^ interest in the Underwriter is Alan Mill* Abernethy, 25 Post Road, Todmorden, Ontario.

(c) The Underwriter has advised the Company that St proposes to distribute the shares purchased by it pursuant to the aforementioned agreement in either of the following ways:

(i) by engaging the services of registered security dealers to sell the shares on its behalf as agents under an arrangement whereby the Underwriter may pay such dealers a commission up to 25^ of the sale price of the shares so sold on its behalf and also to pay the promotional expenses of such dealers including mailing, advertising etc., not to exceed l O'/c oi the selling price of the shares; and

(ii) by granting sub-options or sub-underwriting agreements to registered security dealers at prices not in excess of le per share above the price required tc be paid by the Underwriter to the Company pursuant to the above-mentioned agreement.

14. There is no indebtedness to be created or assumed other than commitments in the regular course of the Com- pany's business which is not shown in the Balance Sheet as at )0th September, 1955, which accompanies md forma a part of this prospectus.

15. (a) The following are the particulars with regard to the principal business in which each director has been engaged during the past three years:

ROWLAND GLANDFIELD Partner, Newling Be Company, members of Toronto Stock Exchange until Jlst March, 1955; President of Newling Ac Company Limited who were members of the Toronto Stock Exchange until 28th October, 1955, now Broker-Dealers.

STANLEY BRUCE LANDELL Assistant to the President, Minerva Mining Corporation Limited, Toronto, Ontario.

HYLDA MORIAKTY Secretary with Minerva Mining Corporation, Toronto, Ontario.

ROBERT TRAIL GRAY Golf Professional, Se i r bore Golf ft: Country Club Limited, Scarborough, Ontario.

JOHN THOMAS BRAZIER Office Manager, McQuay Norris Manufacturing Co, Ltd., Mount Dennis, Ontario.

(b) None of the directors 01 officers of the Company, either personally or as a partner in a firm, has ever had any interest, direct or indirect, in any property acquired or to be acquired by the Company.

(c) During the period lith January, 1954 to Kth September, 195), the Company paid a total remuneration to its directors of (275.00 being at the rate of (25.00 per director for each director*' meeting attended. During the same period the sum of (500.00 was paid on account of head office and secretarial services. Other than the atare no director or officer received any remuneration during such period. It is anticipated that each director will receive 125.00 per meeting for each meeting attending during the current financial year and that head office and secretarial service* will amount to (100.00 per month.

16. No dividends have been paid by the Company.

17. The signatories hereto do not know of any persons who, by reason of beneficial ownership of shares of the Company or any agreement in writing, are in a position to i'ccl or cause to bc elected a majority of the director* of the Company.

IS. There is no arrangement for the sale of vendor shares but the signatories hereto are advised that the bolder* of any vendor shares that arc now free or may hereafter be released from escrow may offer such share* together with ihares previously sold for cash for sale or distribution to the security dealer or dealers now or hereafter engaged ia the distribution of the shares purchased pursuant to the agreements mentioned in paragraph l) or any subsequent agreement entered into by the Company for the sale of its shares. If such is done the proceed* resulting from the (ale and resale of such shares will not accrue to the treasury of the Company.

The foregoing constitutes full, true and plain disclosure of all material facts in respect of the offering of securities referred to above as required under Section 58 of The Securities Act, (Ontario), also Section Jl of the Saskatchewan Securities Act, 1954, and there is no further material information applicable other than in the financial statements or reports where required.

PROMOTERS DIRECTORS

JOSEPH EUGENE SCANLON ROWLAND GLANDFIELDSTANLEY BRUCE LANDELL

CO KENNETH HALL MCVITTIE HYLDA MORIARTY : -' ROBERT TRAIL GRAY '^ JOHN THOMAS BRAZIER

K* DATED at Toronto, this 28th day of November, 1955.

To the best of our knowledge, information and belief, the foregoing constitute! full, true and plain disclosure of all material facts in respect of the offering of securities referred to above as required by Section 38 of The Securities Act, (Ontario), also Section 38 of the Saskatchewan Securities, Act, 1954, and there is no further material information applicable other than in the financial statements or reports where required. In respect of matters which are not within our knowledge we have relied upon the accuracy and adequac) of the foregoing.

UNDERWRITER

MINFRVA MINING, CORPORATION I.IMITKP

ALAN MILLS AutRNtrHY

DATED at Toronto, this 28th day of November, 1955.

Geologist's Report on Mineral }1olilings of

DESTOHADA MINES LIMITEDPresent mineral holdings of Destorada Mines Limited comprise a group of fourteen mining claims {approximately

560 acres) in Montgomery Township, district of Algoma, Ontario, and a group of four claims (approximately 200 acres) and three fractional claims, in the beaver lodge Lake Uranium Area, Northern Saskatchewan. The Algoma property contains promising showings of copper-sulphide ore, and received limited exploratory diamond drilling during 1952. The Beaverlodge group received initial drill-testing during the summer of 1955.

Results of exploratory work performed on the copper-bearing occurrence on the Algoma location definitely warrant further investigation of this prospect. Findings on the Beaverlodge ground are inconclusive, and although no significant radioactive mineralization was detected, local geological conditions appear to be sufficiently favourable to justify additional study and limited exploration of these holdings.

ALGOMA PROPERTY

The fourteen unpatented claims in Montgomery Township, Onurio, are situated in Lots 8 and 9, Concession VI, and are registered in The Mining Division of Sault Ste. Marie, Ontario, under numbers S.S.M. 22811 to 22819 inclusive and S.S.M. 231.M to 23138 inclusive.

Access to the property is via the Vi'hiie River road from the village of Iron Bridge on the Sudbury Sault Ste. Marie Highway. The claims lie approximately twenty miles by road north of the trunk highway, or about twenty- seven miles from Dejn Lake Station on the Sault Branch of the Canadian Pacific Railway. Montgomery Township is roughly one hundred miles west of the city of Sudbury, and twenty-live mile* west of the principal mining operations in the Blind River Uranium Area.

Geology of the Montgomery Township area is typical of the Pro-Cam brian Conplex underlying the North-shore region of Lake Huron. Quartritcs, slates and boulder conglomerates of the Gowganda Series constitute the principal sedimentary rocks of the locality in which the claims arc situated. Large masses of gabbro and extensive sills of diabase intrude the bedded rocks in the immediate vicinity of the Destorada property.

An unusually extensive system of multiple quartz veins trending slightly north of west, traverses the north- central portion Montgomery Township for a traceable distance of four and one-half miles. Copper-bearing sulphide mineraliaztiim is exposed at several points in association with the veining. The Destorada claim-group covers a length of slightly more than three-quarters of a mile on strike of the main vein-structure. Exposures of copper-sulphides occur at intervals over a traceable distance of 1,600 feet in hillside outcropping! of the main vein. LUewhcre on the claims the line-of-str!ke is drift-covered,

A programme of approxirp'tely t,000 fevt of exploratory diamond drilling, involving twenty-three bore holes, was carried out in the area of the showings during the summer of 1952, under the direction of John C* Rogers, geologist. Intersections of the main vein above the 15U foot horizon were recovered in seventeen holes at nearly regular, 100 foot intervals over a strike length of 1,768 feet. Six holes were put down below that horizon in the central section of the occurrence. Three of these deeper borings intersected the main vein at about the 2)0 foot horizon, and three intersections lie at about the 475 foot horizon.

Fourteen intersections of the main vein yielded copper content of commercial importance, Arithmetical average of these intersections is 2.55 '/c copper per ton for an average core length of 9.S feet. Four intersections of the vein gave sub-marginal values in copper averaging 0.44',{ copper over 13.8 feet core length, l-'ive holes recovered only poorly minerali/.ed quart/.

m^m^tf'S'' - Eleven of the seventeen intersections above the 150 foot horizon returned commerical values in copper. Each of the three intersection* at the 250 foot horizon are of commercial tenor. Although the three intersections at the 47S foot horizon recovered relatively barren vein-quartz, there is uncertainty whether the main vein, proper, was encountered by these steeply-inclined boring*. Seven intersections of subsidiary quartz veins wer obtained, but in each case, copper content is sub-marginal in value. Content of metals other, than copper appears to be negligible.

The following tabulation, based on data contained in a report by J. C. Rogers dated September 8, 1952, summarizes results of bore-hole exploration performed to that date.

EAST SECTION

Bore-Section Lateral Diltance

: 0 Westi 100 Vest

200 West1 250 West

300 West384 West

J 468 Westi* S lg Westf 518 Veili\- 5*8 West

(518 West661 West

i **8 West1 718 West

i 74* WestS .858 Weit

9*8 Westli 469 Weu

^ 5*8 West

{(S West

HoltNe.

109

819

7IS

1U1*

.2

17JJ

20

456

21

22

2)

Apprex. Vertical Depth ef Vela

Interact!**, Feel

70MO1401251*5155125257274135250

25no290

11050

135490

475

475

Cere Lenfth

Feet

7.05.0

14.05.08.0

12.08.3

20.05.09.04.45.3*.0*.0

12.08.03.0

Unreported

Unreported

Unreported

A May Averafe % Copper Per To*

1.442.001.342.000.352.65

11.381.401.002.757.001.002.741.32

0.630.402.38

Quartz

Quartx

Quartz

Remarks

Main VeinMain VeinMain VeinMain VeinMain VeinMain VeinMain VeinMain VeinSub. VeinMain VeinMain VeinSub. VeinMain VeinMain Vein

(U'.O.S'.O lost core Main VeinMain Vein

Intersection of main vein doubtful

Interjection of main vein doubtful

Intersection of maini * a f B

WEST SECTION

le re-Sec tie*Lateral Dittaace

13*8 West14*8 West15*8 West1*68 West1**8 West17(8 West

HoleNe.

151413111112

Appro*. VerticalDepth ef Vela

Interaction, Feet

115130

SO2470

115

CoreLenftk

Feet

1*.041.022.0

2.027.015.0

Away A rerafe(ft Copper

Per To*

QuartzQuartz

1.582.7*0.401.20

vein doubtful

Remark*

Main Vein Main Vein Main Vein Sub. Vein Main Vein Main Vein

Estimate of grade and tonnage of ore indicated by the foregoing bore-hole intersections u lummarited ai follows, from computations made by the writer.

OreHeck

EastCentreWest

Section

25E. - 275W.330W.- 730W.

1520W.-1820W.

Ore Loaf thIndicated

300*400'300'

AverageTrve

Width*'.07'.5

17'.0

PercentCopper

1.583.541.00

Tett/Ft.SlopeDepth

15025042)

Ton*Indicated

24,000

81,000*8,000

ONHoriM*

Surface- ISO'Surface-300'Surf ace- ISO'

Composite average of the three ore-blocks above-designated gives a total of 172,000 tom grading Z .26% copper (119.44 per ton gross value at current quotation of 43c per Ib. for copper metal).

SM -I35:

Tonnage indicated in the East and Centre Blocks is classed as pay-ore at existing metal prices. The combined East and Centre ore-blocks grade J.09% copper (J26.57 per ton current grosi value) for an aggregate of 104,000 ton*, u indicated by drill-intersections. These blocks are essentially component lections of an orebody 7JO feet in strike length, averaging 7'.0 in true width, and open at either end. The indicated gross value of payable ore preiently outlined in this orebody ii approximately 12,750,000. Recoverable value of the indicated tonnage in the East and Centre blocks is estimated at approximately J2,200,000 at a term price of 40c per Ib. for copper metal.

In the West Block, average copper content appears to be sub-marginal over the full width of mineralization. The occurrence may contain mineahle shoots over stoping width. The orebody in which this block is outlined is open to the west and untested below the 125 foot horizon.

Inasmuch as the ore-body structure on the Destorada gtound has been probed only to shallow depth for the most part, and at close intervals for a strike length of not more than 1,)00 feet, it is probable that substantial tonnages of commercial grade ore exist in the untested portions of the occurrence, both laterally and at depth. Indicated ore of payable and marginal grade in the drilled portion of the Showings area now amounts to 82 J tons per foot slope depth, with average copper content of J.87% over an aggregate strike length of 1,000 feet. Supplementary drilling within the Showings area and along its immediate, drift-covered extensions conceivably could indicate aggregate ore length in excess of 2,000 feet, possessing ore-potential approaching 2,000 tons per foot slope depth.

In order to adequately probe the structure down to the )00 foot horizon on regularly-spaced sections along its probable minimum strike length of 2,500 feet, an additional twenty-two holes, amounting to approximately 7,500 foot of drilling, will bc required. In addition, three or more widely-spaced holes to probe structure at the 500 foot horizon are desirable. The proposed programme of 10,000 feet of drilling should permit reasonably accurate appraisal of ore-potential down to 450 feet slope depth (three mine levels). Overall cost of the recommended drilling will amount to approximately $40 1000. Operations can be effectively conducted in any season.

BEAVERLODGE PROPERTY

The Destorada holdings in the Beaverlodge Lake Uranium Area of northwestern Saskatchewan are located at Murmac Bay ir. the north-central portion of the camp. The claim-group is adjoined on the west by the operating property of Black Bay Uranium Mines Limited. The producing Crown-owned Eldorado mine lies three miles to the north.

The claim-group is designated, Gamp claims Nos. 10 to H, inclusive, and was staked by K. S. Oliver in 1952.

Preliminary work on the claims consisted of geiger-reconnaisance and prospecting which detected small local occurrences of radioactive mineralization.

During the past Held season, detailed gtlofical mapping was carried out over a structurally-favourable portion of the ground, and a boundary-survey of the group completed to establish sizable ground fractions designated Gamp Nos. J, 2 and 3.

Based on features disclosed by the mapping, a programme of exploratory diamond drilling ensued on June lith, under the direction of Graham H. Duff, geologist. Drilling was terminated on August 4th on completion of twelve closely-spaced, shallow holes aggregating 2,884 feet. All operations on the Destorada claim-group during recent months have been performed under a participation arrangement with Jackson Basin Mining Co. Limited, which holds ground adjoining to the north.

In respect to results of drilling, G. H. Duff, in a concluding progress report dated August 8, 1955, makes the following observations:

"The contact zone was intersected in all drill holes and there was a continuity of structure and rock types.

It would appear that the contact it a fault contact and the graphite, which varies in intensity, is concentrated in the low pressure tections of the contact. The contact has alto been folded in certain sections . . ."

"Several faults were outlined from surface mapping and drilling . . ."

"From a geological point of view, the most favourable areas for locating ur i .ium under the existing conditions, are in the low pressure area* connected jointly with the faulting and folding. Some of these rones have been tested and others have not."

Mr. Duff makes recommendations as follows respecting the Gamp claims and fractions: -

". . . detail work be carried out along the new contact area." (on the Gamp fractions.)

"That drilling be resumed when conditions become more favourable and the detail work is completed on the new ground . . ." (the Gamp fractions.)

Toronto, Ontario, November 8, 1955.

"E. K. FOCKLER" E. K. FOCKLER, Consulting Geologist

6

li . S

Certificate of QualificationTo Accompany Report by E. K. fockier,

dated November S , 7.9 J J

on DESTORADA MiNES LIMITED

I, E. K. FOCKLER, of the City of Toronto, in the Province of Ontario, hereby certify as follows!That I am a consulting geologist residing in Toronto and maintaining an office at 80 Richmond Street West,

Toronto l, Ontario.

That I am a graduate from the University of Toronto (Geology and Mineralogy, 1927) and that I have been practicing my profession for twenty-eight years, having maintained my office at the above addrcu for the past eighteen years in the capacity of consultant.

That I have no interest, nor do I expect to receive any interest, either directly or indirectly in the propertiet or the securities of Destorada Mines Limited.

That my report on the said properties is based on my personal study of reports, drill-hole records, and other records on file at the head office of Destorada Mines Limited.

That, on August 14, 1952, in company with Mr. John Penelton the Company's resident representative, I personally inspected the surface showings and bore-hole intersections on the Algoma property o,f Destorada Mine* Limited.

That I am familiar with the general geology of the Bcaverlodge Lake Uranium Area and have inspected and f x a mined a number of mining properties in that region.

Toronto, Ontario, November 8, 1955.

E. K. FOCKLER

: :ialii

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'"'**

OESTOHADA MINES LIMITED(Incorporated under the laii's of the Province of Ontario)

BALANCE SHEET — SEPTEMBER 30, 1955

ASSETS

CURRPNT ASSI.TS:Cash in bank . ....... . ............................... .... ..... ............. ....... ............. .... ................ ................. * 12,703.95

MINING CLAIMS at cost:H claims in Montgomery Township, District of Algoma, Ontario, acquired for

100,000 shares issued at lOc per share and 11,500 cash . . ... . . i 11,500.004 claims in the Bcavcrlodge Lake area, Athabaska Mining District, Saskatchewan,

acquired for cash .... .. .... . . . . . . . ...... . .. . . . 5,750.00——————— 15,250.00

DUKRRLO CHARGES:Exploration and administrative expenditures . . .... . . . . .........- .. ...... .....,. -... t 44.59J.71Organization expenses . ...... . .. ... .... ... ..... . . . ............ .......... .... ... ....... 2,400.00

——————— 46.99J.71

t 74,947.**

LIABILITIES

CUR*F,NT LIABILITIES ... .. -., ....... .... ......... .... .. . . .. . -. ..... ................. . ..... ........— ..— ....... ...—— $ NU

CAPITAL STOCK AND DcriciT: Capital stock:

Authorized — 3,500,000 shares of *! each

Issued —1,235,005 shares for c.sh . . .. . . . ................ ...... ........ M.235,005.00

Less discount . .. . .. . ......... 1,1)6,375.00———————— \ 9 8.6JO.O*

1,300,000 shares for mining claims . ........ ................ *1, 500,000.00U*s discount . . . .. . .. .. ................ 1,266,000.00

———————— J 4, 000.00

2,535.005 shires t 1J2.6JO.OODeduct deficit . .... . ........ ....... ............ . ..... . ... . . .... ...... ............ . .-.. .... 57,6*2. J4

—————— . 74,947.66

NOTE:Subsequent to the date of the balance sheet the company agreed to veil 200,000 share* of it*

capital stock at lOc per share payable after the prospectus has been accepted for filing by the Ontario Securities Commission as follows:

) 1 0,000 within seven days i 1 0,000 within two months

md granted an option on an additional 700,000 shares as follows:No. of Pric* EatrclMbl* Afttr SS.r., ffi Sk* r* AcctpUBC* lor Piling

200,000 !2J'jC w ithin 6 months200,000 I 5c within 9 months200,000 17'iC w ithin 12 months100,000 20c w ithin 15 months

J 74,947.**

Approved:"R. GLANDFIM-D", Director "STANLEY B. LANOELL", Director

(Subject to tt.f auJilor'i tt^trt on next

Ot

, ''

AUDITORS' REPORTVe have examined the balance sheet of Destorado Mines Limited as ac September JO, 1955, and have obtained all

the information and explanations we have required. Our examination included a general review of the accounting procedures and such tests of accounting records and other supporting evidence as we considered necessary in the circumstances.

In our opinion the above balance sheet is properly drawn up so as to exhibit a true and correct view of the Itate of the affairs of the company as at September JO, 19JJ, according to thf best of our information and the explanations given to us and as shown by the books of the company.Toronto, November 18, 1955.

"GUNN, ROBERTS k Co."Chartered Accountants.

./jK i .

DESTOMDA MINES LIMITEDSTATEMENT OF EXPLORATION AND ADMINISTRATIVE

EXPENDITURES DEFERREDFrom incorporation on tJoi'tmbtr 12, I94f to Septtmlxr J O, J9JJ

Exploration expenditures:Destor Township—Quebec (claims since abandoned) ...........................4...........™ t 29.2J7.84Montgomery Township—Ontario ............... ................. ...................................... 27,440.47Beaver lodge Lake Area—Saskatchewan ... ...... . ..... ......................^...........,.......... 4.50J.J4

t 41,201.65Deduct expenditures writen off in respect of Quebec claims abandoned .--..-.^.-.-... 29.2J7.84

——————— t J 1,94 J.I l

Administrative and general expenditures:Head office and secretarial fees .................................................................~.-......~. l J,*SOOOLicenses and fees ...........,..................................................... ........~.-..................... ),285.47Share issue and transfer expense ................................................................................. 1,5W.4JInsurance ...... ^........ ...........,.~....-..........~................... ............,................................. J52.44Legal fees and expenses ......-................—.-.....—.........—.... ...............................—-. 2,819.97Audit Fees .... ...........................................................,................-.........—......—. 425.00Directors' fees .................™..................................- .......... .................—.—..—— 275.00Publicity and prospectors expenses .......................................................——...——.— W9.4)Maps ........................................................................,........... ..............^............—. UJ.8*Other expense ,^........-..................™.................................................—.™......™.... iJl.iJProvincial capital and office taxes ........ ....... . ........ ...,..................~..............—..-... J 0.00Interest ......,.......................™............ .................. ....-......^.......-......-.—.......-.—.~. *J.*7

————— 14,149.90

* 4M9J71 Deduct consideration received for option on company's mining claims (now expired) ......—,—...-....-. 1,500.00

Balance deferred at September JO, W5 .... ................................. . ..............—........-...—-—-—~. t 44,59571

9

* "TT!' ;"Ktyjyh

mSTATEMENT OF DEFICIT

From incorporation on November 12, 194} to September J O,

Amounts written off jMinine claims acquired for 1,200,000 shares issued at 2c per share and 16,000 cash—

claims since abandoned .—...__~....—.._.~._.____...._......_........—.- l 30,000.00Exploration expenditures in respect of abandoned mining claims ^ ,-...........__-.~ 29,257.84

Less profit on sale of securities .__.___..-..~.....-......~.............™~............._......_-*....——......Deficit at September 30, 195J __..............™.™-.^.....-..—....___._.....—...~......__.——...™.™

t 59.2J7.84 1,575.50

S 57,682.34

igg';?li""ir-•*

DESTflMM MINES LIMITEDDETAILS OF EXPLORATION EXPENDITURES

From incorporation on November 12, 194} lo Srptembrr )0, 19}}

Destor Township—Quebec (claims since abandoned):Diamond drilling ............................. ...Line cuttir ̂ ~............. .....................-Surface ex^.oration and prospecting ...................Surveying .......... ....-..............^............ ..............Salaries ;nd expcnitei of engineers, geologist*, etc. Assaying ,........... ........................ ........................Temporary buildingt and equipment written off

... l 2J.673.20 840.00 561.50 100.00

3,195.45 103.87 783.82

t 29,257.84

(j:CD*** i

Montgomery Township—Ontario:Diamond drilling ............ ,........................... .. ...... ......................... ........ ... t 21,782.25Surface exploration and prospecting ...........,............ ..Salaries and expenses of engineers, geologists, etc. ...Assaying ....... ........ ....... ........ ............ ,. ....... .Other expenses at property .... . . .... . .....

Beaverlodge Lake Area—Saskatchewan:Line cutting ,.........................,......... . . .Salaries and expenses of engineers, grologiitt, etc.

10

899.044,349.64

285.55123.99

l 1,072.65 3,430.69

t 27,440.47

$ 4,503.34

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ONTARIO

DEPARTMENT OF MINES

SAULT STL MARIE MININGJSAULT STE. MARIE. ONTARIO

November 10, 1952.

MONTGOMERYt5C NOUVEL 900

Dr. J. E. Thomson, Department of Mines, Parliament Buildings, Toronto, Ontario,

Dear Dr, Thomson:

I am enclosing diamond drill logs

covering drilling on the Destorada Mines,

and Sudbury Contact Mines Ltd. both in the

Township of Montgomery.

These were submitted in duplicate

and we are forwarding one copy on to you.

S'"

H.!.'j','"

is."" ?.

|:Mt K -

CI

..K-

WNM/mm

End.

Yours very truly,

W. N. Mi)ler, Mining Recorder.

mm J

Mr. V.N. Miller, Mining Recorder t Sault Ste.Marie, Ontario*

Mor.21, 1952

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Dear Mr. Miller:

This le to acknowledge the receipt of diamond drill logs covering drilling on the Destorada Mines and the Sudbury Contact Mines, both in the township of Montgomery.

This information is not wuch use to us unless the exact location of the holes is known* - Generally a plan showing the exact location with respect to claim boundaries is included with the logs. However, I understand fro* Mr. McFarland that only one plan is required under the present regulation, and that it must be kept in your office. Is there any way in which you could make a copy of this plan for us? A pencil tracing or sketch would suffice*

I hear that the Mining Act is to be amended shortly, and will require two copies of the plans, so that this problem will eventually disappear.

If it is inconvenient for you to nake a copy of the plans showing the exact location of these holes we may be able to get it from the head office of Destorada and Sudbury Contact.

\

office.With good wishes to ereryone in your

Sincerely yours,

J.B. Thomson

i

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ALGOMA

; 1-!NCH^40 CHAINS

ontgomery

DISTRICTALGOMA

- CHAIN

Montgomery Twp.

REPORT CM DESTORADA GROUP MONTGOMERY TOWSHIP …

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