Exploration Results

Exploration Results:
Exploration completed on the property consists of surface mapping and sampling, geophysical surveys and diamond drilling.  

The lithology, alteration and style of mineralization suggest that two distinct levels of an IOCG style mineralization occur on the property. These areas are designated the Feeder Zone which represents the lower portion of an IOCG system and the Strata Bound Zone which is interpreted to represent the upper portion of an IOCG system.

Mapping and Sampling:
Mapping and sampling of the various mineralized outcrop within Feeder and Strata-bound zones have yielded the following range of copper-gold-silver-cobalt values.  

A brief description of each of the Feeder zone and the Strata bound zone is provided below.

Feeder Zone
Two coincident geophysical and copper in soil anomalies and at least twelve, fault-bounded massive, magnetite-hematite replacement bodies (up to 80 feet wide and 600 feet long) occur within this zone.   The magnetite bodies exhibit variably oxidized, disseminated and fracture – controlled copper mineralization (malachite to oxidized chalcopyrite/bornite).  Rock sampling of the massive magnetite-hematite replacement bodies and associated peripheral alteration has yielded grades ranging between 0.75% and 4.90% copper.   This zone exhibits the intense, alteration typical of IOCG mineralization.  

The geophysical anomaly is 2,700 foot long and 1,300 foot wide and within the geophysical anomaly; a 100 foot wide by 1,800 foot long copper-in-soil anomaly (copper values ranging between 100 and 400ppm) occurs. Previous sampling of the exposed replacement body and alteration zone has returned copper values up to 1.80%. 

Strata-bound Zone
Detailed mapping within a portion of the carbonate alteration zone has located four stacked units that exhibit massive iron carbonate-albite-hematite alteration. These stacked units host at least 10 copper showings and/or zones of copper mineralization (up to 50 feet long and 30 feet wide) as well as leached gossanous specular hematite replacement bodies (referred to as “leached caps).  The stacked units have been folded and where mapped range from 50 to 400 feet in width with strike lengths that vary from 1,000 feet to over 2,500 feet. 

Unit #1 hosts several “leach caps”.  The largest leached cap is approximately 300’ long and 75’ wide.  Copper mineralization appears to have been leached from these bodies leaving residual copper concentrations up to 1,400 ppm.    The absence of significant copper-in-soil anomalies (greater than 100 ppm copper) within this target area is interpreted to be due to the leaching of the copper mineralization.

Unit #2 hosts the Copper Kettle mine workings where previous sampling of oxidized copper mineralization (malachite-azurite) exposed in outcrop and the shaft returned grades ranging from 2.1% to 7.5% copper. Several copper showings and leached caps also occur in this unit. The Copper Kettle mine workings area exhibits a strong (100 to 4,760 ppm) copper-in-soil anomaly that measures approximately 600 feet long and 300 feet wide.

Unit #3 is the largest and most deformed strata-bound alteration unit located to date within the alteration zone. Several areas of copper oxide - oxidized sulphide mineralization and a “leached cap” occur within this unit. The oxidized sulfide mineralization consists of fine-grained disseminated chalcopyrite, bornite and locally massive chalcocite.  Assays from these zones of copper mineralization returned up to a maximum of 15.6% copper and 0.82g/t gold.  The leached cap is approximately 160 feet long and 90 feet wide and located 150 feet northeast from and 40 feet topographically above significant copper mineralization exposed in outcrop and rubble. This area is associated with a weak IP-chargeability anomaly that measures 350 feet long and 230 feet wide and a copper-in-soil (50ppm - 529ppm) anomaly (400’ long and 300’ wide).

Unit #4 exhibits several significant copper-gold showings and a weak IP-chargeability anomaly.   Further field work is needed to define these targets prior to diamond drilling. 

Soil Geochemical Survey:
A detailed soil geochemical survey (600 samples collected on grid lines 150 to 300 feet apart and sample intervals of 100 feet on each line) has outlined three strong (greater than 100ppm) copper-in-soil anomalies associated with three of the five geophysical targets located on the property.

Drilling Results:
The results of the diamond drilling programs completed in late 2006 and early 2007 to test the geophysical and geochemical anomalies are set out below.  The drilling indicates that “manto” style copper-silver +/- gold and cobalt mineralization and associated alterations representing an IOCG style of mineralization occur on the property.

DHBV06-1 tested the depth extent of a large magnetite body that was intersected at a vertical depth of approximately 300 feet.   The replacement body thinned out at depth and is partially replaced by pyrite. A 24 foot thick (true thickness) interval contains scattered disseminated chalcopyrite.  The interval from 334 feet to 338 feet in the hole assayed 0.19% copper and 6.3g/t silver.  

DDHBV07-2 intersected widespread, fault-fracture-controlled stockwork pyrite (1%-7%) – chalcopyrite (< 1%) – hematite – specular hematite (1% -10%; locally semi-massive) mineralization and associated intense chlorite-epidote-albite alteration. The sulfide zone intersected in this hole is at least 400-feet wide (true thickness) and 450-feet deep. Widespread chalcopyrite disseminations and replacement blebs are concentrated on the west side of the mineralized interval.   Copper values range from 333ppm to 0.10% over an interval of 140 feet (true thickness).

DDHBV07-3 tested Unit#3 and its associated copper-gold showings.  A major (up to 80 feet true thickness) fault-shear zone encountered during drilling appears to have cut off much of the down-dip extension of the alteration unit.   Disseminated pyrite (1%-3%) and hematite (1% - 2%) occur from approximately 211 to 254 feet in the structure including significant (2%-3%; locally greater) stockwork and botryoidal textured chalcopyrite mineralization in the interval from 237.7 – 238.2.  This target remains essentially untested.         

Alteration Units #1 and #2 which hosts the old Copper Kettle mine workings and copper showings were tested by DDH BV07-4.   Drill results indicate that these units merge at depth. The strongest sulfide mineralization consisting of disseminated and fractured-controlled pyrite with trace amounts of chalcopyrite occurs from 86 feet to 94 feet and from 133 feet to 316 feet.  No significant base or precious metal values are present in the thicker pyritic zone. A thin zone (86’ – 94’) of argillic alteration, assayed 0.17% copper, 0.60 ppm silver and 0.01 ppm gold.

DDH-BV07-5 tested a deep (> 600’), modest to strong IP anomaly in the “feeder zone” area.  This hole is located several hundred feet west of an outcrop that assayed 0.14% copper over 13 feet. The interval from 826 feet to 898.2 feet intersected widespread and intense phyllitic (sericite, sericite – clay) alteration that hosts low-grade disseminated to stockwork pyrite-bornite-chalcopyrite (1%-3% total) mineralization.

DDH BV07-6 tested the up-dip extention to the west of the mineralized unit intersected in DDH BV06-5 and surface copper showing.  A thin zone of copper mineralization was intersected in this hole.

Geophysical Survey  
Surface and borehole source IP surveys completed in October 2006 have identified two new chargeability anomalies. The first anomaly is at least 3000’ long and 1,100’ wide.  Two copper showings occur immediately adjacent to the IP anomaly consisting of localized bornite and/or chalcopyrite disseminations and veinlets hosted in a strata-bound albite-Fe-carbonate-hematite alteration unit.  Sampling results from these outcrops are shown below (northwest showings).   

The second anomaly (the Northeast Showing) occurs at the northeast end of the property. Mapping and sampling in this area located a narrow 10 – 50 foot wide northwest-trending strata-bound albite-Fe-carbonate-hematite alteration unit.  The unit has been traced at least 3,000 feet along strike to the northwest. Chalcopyrite occurs over a distance of 300 feet in outcrop. The widest part of the zone yielded a weighted average of 0.35% copper and 0.122 ppm gold over 13 feet true thickness.  Assays from the mineralized zone are shown below (northeast showings). The mineralized zone is coincident with the strong chargeability anomaly that is open in both directions.

Significant Outcrop Sample Assay Results: