Available project (R)

A global increase in the demand and price of iron and titanium concentrates, particularly in China and emerging South Asian markets has stimulated the exploration for these metals in the Province of Quebec. Over the last decade, the Lower North Shore of Quebec has witnessed a surge in mining exploration owing to its numerous Fe-Ti showings and deposits associated with anorthosite complexes. This prompted Canamara Iron and Titanium Corp. to acquire 285 claims covering 14,661.5 hectares thus forming the Peninsula property. The distribution of these claims was strategically oriented to surround or partially cover active zones of exploration. There are six groups of claims nearby the Lake TiO and Lake Grader mines, the Mills and Springer prospects, all property of Rio Tinto, and the Romaine Titanium prospects. To the exception of Lake TiO which is currently in operation, all the other prospects have Historical Resources estimates established over the last forty years. The Peninsula titanium property is located in the St. Lawrence Lower North Shore of Quebec and dispersed within the Puyjalon, Parker, Longfellow and Vigneau Townships; NTS map sheets 12L05, 06, 11 and 12. The property is situated 32 km NNE of the town of Havre-St-Pierre and 220 km east of the town of Sept-Iles. The claims are 100% owned by Mr. Fayz Yacoub (246 claims) and Mr. Ramy Yacoub (39 claims).

The Peninsula Titanium property has the capacity to host substantial tonnage of Titanium in several deposits located within the plutonic Havre St. Pierre Anorthosite Suite (HSPAS) which exposes a number of showings and deposits of ilmenite and magnetite of varying dimensions principally in the Lake Allard and Puyjalon areas. The principal focus of exploration for Canamara is the Lake Puyjalon showing located just six kilometers south of the Lake TiO Fe-Ti open pit mine. The main Puyjalon showing forms an anvil-like protrusion jetting in Lake Puyjalon and consists of a succession of centimeters to meter-thick layers of leucoanorthosite and ilmenite leuconorite including meter-thick sub-concordant layers of ilmenitite-norite and several horizons of massive ilmenitite 15 to 30 cm- thick. The entire sequence is 25 to 50 meters in thickness and is overlain by 50 m of anorthosite and leuconorite containing lenses of ilmenite aggregates.

Results of a heliborne magnetic geophysical survey show a small negative anomaly overlying the anvil protrusion in the Lake Puyjalon related to the Peninsula showing. This constitutes the first target within a 750 x 600 m area revealing several horizons of massive ilmenitite 15 to 30 cm thick (Hocq, 1982). A strong magnetic anomaly shows negative values of < -7400 nT that roughly coincide with the contours of the ilmenitite/ilmenitite norite unit south of Lake Ellen. According to Hocq (1982), the anomaly corresponds to numerous thick layers of ilmenitite. A 1600 x 650 m area covering the zone of strongest magnetic lows forms the second target zone. The aeromagnetic survey was also carried out over the Southern Mills claims at the periphery of the Mills property. The Mills oxide-mineralized body (ilmenitite) presents a significant negative magnetic anomaly, whereas the FVD contour map further reveal other negative anomalous areas that may correspond to hidden oxide-rich bodies containing unknown amounts of hemoilmenite.

There is another north east oriented negative anomaly to the south worthy of investigation (1 km x 300m).The search for Fe-Ti-mineralized occurrences in the remaining property claims must focus on four key lithologies: 1) Massive or layered ilmenitite body/vein injected in barren anorthosite, 2) Massive and layered ilmenitite in norite and/or noritic ilmenitite, 3) Layered ilmeniteĀ±magnetite/Ti-magnetite pods and layers contained within norite/leucogabbro and 4) Layered ilmenite+Ti-magnetite within jotunite (hyperstene diorite)-enderbite and gabbronorite. Surveying of the other key areas of the Peninsula property, notably around the Rio Tinto's Mills and Springer prospects should be done by helicopter. Sampling of the Fe-Ti-bearing outcrops followed by geochemical assays will determine follow-up exploration. Canamara Iron and Titanium Corp. intend to carry out a two phase exploration program on the Peninsula property. The first phase will initially consist of a heliborne mag survey to be completed on the remaining claims of the property that were not submitted to the 2011 geophysics program. Line cutting, ground-based magnetic and gravimetric surveys and rock sampling will be carried out on the Lake Puyjalon, Southern Mills and Lake Ellen prospects. The proposed budget for Phase I exploration is $895,784 and includes the cost of larger scale exploration on the remaining property claims. Phase II, expecting to cost $2,217,574, is devoted to a drilling program on the Puyjalon and potentially the Southern Mills and Lake Ellen prospects and includes 6650 m of DDH core.

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Geological Report