Foundation Resources Inc. (FDN:CA)

Foundation Resources a mineral exploration company focused on the exploration and development of its flagship Coldstream Gold Project located in the Shebandowan Greenstone Belt, 115 Km North West of Thunder Bay, Ontario. The Company’s NI 43-101 resource estimate reported September 20, 2011 by Wardrop delineated a total inferred mineral resource of 763,276 ounces gold and an indicated resource of 96,400 ounces gold on the Osmani deposit, which is one of five highly prospective gold targets that Foundation has within this 16 km long Coldstream Gold Trend.

3 new points

1. NI 43-101 compliant resource on the Osmani Gold Deposit
2. 100% owned Coldstream Property
3. 4 additional targets identified and drill ready

Projects

The Coldstream Property

The 6,410-hectare Coldstream Gold Property is located along the Trans Canada Highway 115 km west of the City of Thunder Bay in northwestern Ontario. The area is road accessible and has excellent infrastructure with a major power line and CN rail line passing just north of the property. Skilled labour is readily available locally.

Since acquisition of the Coldstream Gold Project in 2009, the company has embarked upon 5 drill programs, totaling 21,494 metres of drilling and surface exploration programs consisting of mapping/prospecting, trenching, sampling and geophysical IP and magnetic surveys. The company recently completed a NI 43-101 resource estimate (763,276 ounces of gold ‘Inferred’ and 96,400 ounces of gold ‘Indicated’) and a scoping metallurgical test work (96.1% gold recovery) on the Osmani Gold Deposit (formerly known as the East Coldstream Deposit). These aggressive exploration work conducted during the short history of the company has provided investors with a consistent stream of drill and surface results.
The Coldstream gold property, located within the most western part of the SGB , is host to one former Cu-Au producer, the North Coldstream Mine (102 million pounds of Cu, 440,000 oz of Ag and 22,000 oz of Au from 2.7 million tons of mined ore), and five gold deposits/prospects:
1.Osmani Gold Deposit

2.Iris Zone

3.Goldie Zone

4.Span Lake Prospect

5.Burchell West Grid
These five mineralized areas sit on and adjacent to the same mineralized corridor, i.e., Coldstream Gold Trend, as the Moss Lake Gold Mine’s (TSX-V: MOK) deposit, which hosts 1.5 million ounces of gold.
Click here for more information on the Coldstream Gold Project

The Plan

1. In fill and step out drilling to expand current resource
2. Follow up drilling on previously identified mineralized zones
3. Update the 43-101 resource calculation