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Verticalnaya Project
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Osilinka Project
Pinchi Project
Technical Reports
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The Company's Pinchi copper-gold project covers 28,760 hectares in north central British Columbia, approximately equidistant from the Kemess Mine to the north and Mount Milligan to the south.
It lies within the Quesnel Trough, a geological trend that hosts numerous porphyry gold-copper deposits including Kemess and Mount Miligan while, to the south of Pinchi, there is the more recently established Kwanika property of Serengeti Resources Inc on which 75 million tonnes at 0.41% copper and 0.42% gold have been reported at a 0.40% copper equivalent cut-off. There is significant exploration activity in the area.
The Pinchi project encompasses strong NW trending rift-related faults (Western and Central Faults) which show evidence of strong alkalic alteration and mineralization. The lands also cover the junction of the Pinchi and HaHa faults, where a strong magnetic anomaly is associated with the altered Duckling Creek Complex.
The Pinchi project is adjacent to the Lorraine/Jajay property formerly owned by the Company and currently under option by Teck Corporation. In 2008, the Company's interest was transferred to Lorraine Copper Corp, the shares in which were spun out to the Company's shareholders. There is potential that the mineralization trend may continue in the Pinchi property.
The Company has established various exploration targets on the property, following a 710 line-kilometer EM resistivity and magnetic airborne survey conducted in 2007. An NI 43-101 compliant technical report dated December 15, 2007 was completed by Barry J. Price MSc, PGeo of B.J. Price Geological Consultants Inc.
In 2008, the Company commenced investigation of one of the targets, in the southwest of the property near the juncture of the Pinchi and HaHa faults by line cutting and a limited IP survey.
In 2009, the Company entered into an agreement with Amarc Resources Ltd. ("Amarc") and Amarc commenced exploration of the property. Amarc is managed by the Hunter Dickinson group of companies.
Amarc has stated that its 2009 program will test strong, extensive and coincident, aeromagnetic and induced polarization (IP) geophysical anomalies underlying a region covered by glacial gravels and no outcrop. Under the terms of the option agreement with the Company, Amarc has the right to earn a 60% interest in the Pinchi property by expending $151,000 on exploration before November 30, 2009 and an additional $3 million over the ensuing three calendar years. Amarc can earn a further 15% interest by spending an additional $4 million on exploration over the subsequent two calendar years. Upon the earlier of Amarc exercising its second option to earn a total 75% interest or electing to remain at 60% interest, the two parties will enter into a joint venture agreement to further develop the property.
Technical Report
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