Carlisle Goldfields Limited
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 67 Yonge Street, Suite 1001 Toronto, Ontario Canada M5E 1J8 |
| Tel No.: | (416) 368-0028 |
| Fax No.: | (416) 703-3695 |
| Web Site: | www.carlislegold.com |
| Corporate Email: | cmcgill@boathousecapitalgroup.com |
| Contact Person: | Carl McGill |
| Position: | Director, Corporate Development |
| Traded Market: | TSX |
| Traded Symbol: | CGJ |
| Outstanding Shares: | 32.6 Million |
| Public Float: | 17 Million |
| 52 Week High: | $ 0.50 |
| 52 Week Low: | $ 0.20 |
| Present Price: | Click Here |
INTRODUCTION
Carlisle Goldfields Limited is a Canadian based gold exploration and development company that owns three geographically diverse properties in Manitoba, Ontario and British Columbia. Carlisle's initial focus is on its wholly owned approximate 20,000 hectare land position in the Lynn Lake Greenstone Belt of Manitoba where approximately 433,000 ounces of gold and 1,308,000 ounces of silver were produced between 1986 to 1999. Primary focus within the Lynn Lake package is on the former MacLellan Mine, where approximately 144,000 ounces of gold and 432,000 ounces of silver were produced between 1986 and 1989.
PROJECT IN HAND
(1) Goodfish Property, Ontario
The Goodfish Property consists of 16 patented claims (mining rights only) in the southwestern corner of Morrisette Township, Ontario, Lander Lake Mining Division, and 8 km northeast of the Town of Kirkland Lake. This is an excellent address for gold properties in Canada. Management considers the Goodfish Property as a future exploration project be and as such does not intend to conduct any exploration on the property at the present time.
(2) Doc Property, British Columbia
The Doc Property consists of the Eldorado 2 and Eldorado 4 claims totalling 400 hectares in the Unuk River Mineral District, Skeena Mining Division of British Columbia, about 55 km northwest of Stewart, 35 km south of the current producing Eskay Creek Mine. Management considers the Doc Property to have future potential and does not intend to conduct any exploration on the property at the present time.
(3) Lynn Lake Properties, Manitoba
The Company's principal properties are the Lynn Lake Properties consisting of 182 mining leases and 126 mining claims in the Lynn Lake Greenstone Belt of Northern Manitoba, covering approximately 20,000 hectares, near the town of Lynn Lake. Included in the land package are the formerly producing BT and Farley Lake Open Pit Mines which produced 292,233 ounces of gold and the former underground MacLellan Mine which operated from 1986 to 1989 produced 144,000 ounces of gold and 432,000 ounces of silver. The Company's plan up to the end of 2007 focuses on the MacLellan Mine Property.
Carlisle's Phase I work program at its MacLellan Mine property is underway with a drilling program consisting of 25 to 30 drill holes totalling 10,000 to 12,000 metres to be drilled before the end of 2007. The primary objective is to confirm the "historic geological reserves" presently reported to be in the order of 1,076,000 tonnes grading 6.51 grams of gold per
tonne. A further goal is to demonstrate that these resources may be doubled by further delineating drilling to the 525 metre level. This program will cost approximately $2,500,000.
In addition compilation and assessment of targets on the remainder of the property will continue with a view to generating additional targets for resource development. Once the drilling program is completed Carlisle will produce a revised and updated resource estimate for the property. It is anticipated that the above program will cost $1,500,000.
It is expected that the resource will be of sufficient size and quantity to justify proceeding to advanced exploration at the MacLellan mine, including dewatering the mine workings, detailed sampling and mapping of the mine openings, and closely spaced underground diamond drilling. This would be followed by a further resource update and a detailed pre-feasibility study by the end of 2007. It is anticipated that this effort alone will cost $5,000,000.
Additional airborne geophysical surveys, followed by ground base work may also be initiated on the remainder of the properties to provide a basis for identifying future exploration targets. Diamond drilling of targets identified by work to the southwest of MacLellan could also occur in 2007. This additional cost would equate to approximately $1,000,000.
Total capital requirements amount to approximately $10,000,000.
Management believes that it may be in a position to make a production decision in the second quarter of 2008. Capital expenditures required to reach production are estimated to be in the range of $40,000,000.
MANAGEMENT
Carlisle Goldfields Limited has a well management team with experience in different areas.
Stephen Mlot, P.Eng., President & Chief Executive Officer, Director
Mr. Mlot is registered as a Professional Engineer in Ontario. He received his Engineering (Mining) degree from McGill
University, Montreal, Quebec (1977). Mr. Mlot has significant experience in the mining industry, with particular emphasis in planning and management of mine development and operations, and minesite construction projects. He also has extensive experience in mining project evaluation and feasibility analysis. From 1996 to 2002, Mr. Mlot served as a director of Patricia Mining Corp. in addition to being the President between 1996 and 1999, and was involved in all aspects of corporate management. He was a director of Claim Lake Resources Inc., a reporting issuer in Ontario, from 2001 until 2004, and was a director of Leitrim Group Inc., a company listed on the TSX Venture Exchange from April 1, 2004 until May, 2006 and Mr. Mlot was a director of Limerick Mines Limited, a reporting issuer in Ontario, from 2003 to 2006. His prior work experience includes service with major mining companies, government, and mining service firms.
John Steele, Chairman of the Board, Manager of Exploration, Director
Mr. Steele is a geophysicist receiving his education at the University of Toronto and at the University of British Columbia. His undergraduate courses were Honours Mathematics and Physics with a final year speciality in Geophysics. His Masters work involved marine magnetic surveys geology to prove continental drift and his Ph.D. work developed Maximum Entropy Power Spectral techniques as applied to large data sets. His career initially involved contact geophysics with 3 companies. He then acted in a Staff Geophysicist position with a major company.
Carl McGill, Director, Corporate Development
Mr. McGill is a Director of the Company. Mr. McGill has over 25 years of experience in the financial services industry. Mr. McGill has been a principal of Boathouse Capital Advisory Group Inc., a private Toronto-based merchant bank. From 2003 to 2006, Mr. McGill was a self-employed consultant providing services to several mining companies in connection with obtaining financing. From 2002 to 2003, Mr. McGill was Vice-President, Professional Associates Division of Kings Gate Wealth Management Services Limited, a privately held corporation providing wealth management services. From 2001 to 2002, Mr. McGill was a Vice-President, Private Client Division of the Retirement Counsel of Canada, a financial services company. From 1998 to 2001, Mr. McGill was an Investment Advisor with BMO Nesbitt Burns, a financial services company. Mr. McGill has assisted the Company with its fund raising activities and has provided financial counsel to the Company.
Harvey McKenzie, CA, Chief Financial Officer
Mr. McKenzie is a Professional Manager with over 35 years experience in a variety of industries with specific experience in the mining industry, financial services and I.T. sectors. He has a record of achievement as a hands on Chief Financial Officer, General Manager, Project Manager and Treasurer with excellent credit assessment and IT skills and Director of foreign entities. His strong interpersonal skills complement an ability to establish solid client relationships and rapport with all levels of staff, bankers and regulatory bodies.
Paul Fornazzari, Corporate Secretary
Mr. Fornazzari is a partner in the prestigious law firm Gowling Lafleur Henderson LLP. He is a leader in the firm's corporate finance, securities and public M&A group. Mr. Fornazzari is currently a director of Latin American Minerals Inc., a very active junior exploration company focused on the acquisition and development of exploration opportunities in South America.
NEWS UPDATE
On October 11, 2007, Carlisle Goldfields Ltd. announced that the Company is now planning its phase II, 2007 to 2008 drilling program set to commence in early November, 2007. The main target will continue to be the MacLellan/Nisku mine where 12,000 metres of drilling under the phase I program was most recently completed. An updated resource estimate (NI 43-101) based on this drilling program is expected within the next 30 days. It is anticipated that this report will confirm in excess of the historical 220,000 ounce gold estimate.
The objective of the phase II program will be to further define and increase the resource base of all of the Company's Lynn Lake greenstone belt properties (including MacLellan/Nisku) to the 800,000 to 1.2 million-ounce level.
On October 3, 2007, Carlisle Goldfields Ltd. reported that the Company's recent trading involving shares of Glencairn Gold Corp. have shown large upswings in volume and downward pressure on its price; a price which management feels severely understates the value of the assets of the Company.
Glencairn Gold Corporation, a holder of more than 10% of Carlisle Goldfields Ltd., announced September 5, 2007, its intention to sell four million shares of its holdings. At the close of business on September 26, 2007, this selling was completed. In discussions with Glencairn, Peter Tagliamonte, President and CEO, stated, "We regret needing to sell this portion of our company's position in Carlisle at this time." He further stated that this action does not reflect negatively on growth opportunities within Carlisle.