The company has determined that Quebec has the potential for strategic importance for a number of reasons.
According to the Fraser Institute, in 2010 Quebec ranked in the top 3 of world's most attractive jurisdictions for mineral exploration and development.
Implementation of the government's "Plan Nord" is underway:
$2,100,000,000 government investment earmarked over the next 5 years.
Overall 25-year plan expected to lead to over $80,000,000,000 in investment.
Potential government interest and participation in port, power and other infrastructure projects.
Roberts Lake Property - The Company's purchase of 128 claims at Roberts Lake, in Northern Quebec along the extensive Ungava Bay iron formation is part of this strategic plan. In addition to the previous importance of Quebec's geo-political situation, Roberts Lake is an important acquisition from an industry leverage perspective.
The claim appears to hold large deposits of iron ore and sits in close proximity to neighbouring Oceanic Iron Ore Corp's (FEO) large Roberts Lake iron ore claims. We believe its value is enhanced by its strategic location because it would consolidate Oceanic's land holding in Ungava if sold or optioned to them.
Gulfside Mineral Ltd = 50 claims, 2123 hectares (21.23 km²)
Oceanic Iron Ore Corps = 50 claims, 2128 hectares (21.28 km²)
Claims cover 50% of the iron formation in Roberts Lake not already staked by Oceanic.
Would significantly increase tonnage and grades reported in Oceanic's NI 43-101.
Geological and magnetic data indicate claims could provide an addition to Oceanic's stated iron ore reserves.
21km in the middle of Oceanic's ground would consolidate Oceanic's land holding in the Ungava
Proximity to Payne Bay also provides the property potential close access to a deep water port for global access.
www.gulfsideminerals.com/s/quebec.asp
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