McBride is an 898 hectare property located 15 kilometers southwest of Lynn Lake, Manitoba. Gold mineralization at McBride is hosted within sulfide-rich graphitic and siliceous metasediments and associated diorite dikes and sills under shallow post-mineral cover. The mineralization occurs along the E-W trending Johnson Shear Zone that separates the Precambrian greenstones of the Lynn Lake Belt on the north from a felsic plutonic terrane to the south. The Johnson Shear Zone has produced gold from the nearby Burnt Timber gold mine located 14 kilometers east of the Property.
Between 1982 and 2007, a total of 60 diamond drill holes were completed on the property by multiple operators. Locally, drill intercepts of 2.43 grams per metric tonne gold over 9.14 meters in the hanging wall target zone and 3.18 g/T over 10.67 meters in the footwall provide interesting targets for further exploration.
Nevgold completed an Option Agreement on the McBride property with Sypher Resources Limited ("Sypher") as announced in September, 2010. Under the terms of the Agreement, Sypher can earn a 100% interest in the project by issuing Nevgold 500,000 shares of common stock with a deemed value of at least $500,000 and complete an aggregate $600,000 work commitment within a 4 year period to earn their full interest in the Property. In the event that McBride reaches the production stage, Nevgold has reserved a 3% Net Smelter Royalty on all production. Sypher plans to combine results from a ground magnetics survey with a detailed soil survey (MMI) to find additional drill targets under the thin glacial cover.
