COPPER PROJECT: CALEDONIA

Copper Claims

Overview

The Property is located in the Nanaimo Mining District of northern Vancouver Island, south of the town of Port Hardy B.C., and adjacent to the joint venture partnership between Freeport-McMoRan and Northisle Copper and Gold Inc.

The Caledonia, Cascade and Bluebell claims are 7 km north-west of BHP’s past producing Island Copper mine which was responsible for extracting 345 million metric tonnes @ 0.41% Cu, 0.017% Mo, 0.19 g/t Au, and 1.4 g/t Ag.  During its prime operating period the Island Copper mine was Canada’s third-largest copper producer. The Caledonia, Cascade and Bluebell claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine.

Total Claims: Seven (7) Mineral Claims known as the Caledonia, Cascade and Bluebell

Total Area: 1,741 Hectares

Geology

The nearby town of Port Hardy is a main distribution centre for the north end of Vancouver Island. It has an airport with 3 daily flights to Vancouver, a hospital, schools and a college. All parts of the North Island project are accessible from Port Hardy through a network of logging roads.

A marine load out structure and a hydro power line exist at the reclaimed Island Copper Mine. One of BC’s largest wind farm complexes is situated adjacent to the northwest end of the property and the power line connecting the wind farm to the main BC power grid passes immediately north of the North Island Project.

Caledonia

Caledonia Site

History

In 1929, 0.9 tonnes of ore was shipped from the property, grading 514.2 grams per tonne Silver and 7.3 per cent Copper (Malcolm, 1969). A chip sample collected across 1.8 metres in 1926 assayed trace gold,418.2 grams per tonne Silver, 2.0 per cent Copper, 0.8 per cent lead and 10.0 per cent Zinc (Minister of Mines Annual Report 1926).”

Historical Estimate: Underground development by Cominco outlined possible reserves of 68,000 tonnes grading 704.2 g/mt tonne Ag, 6.1 % Cu, 7.45 % Zn, 0.6 % Pb and 0.34 g/mt Au in a 3 to 5 metre wide zone over a strike length of 100 metres (George Cross News Letter #221, 1981; Statement of Material Facts July 5, 1972 – North Island Mines Ltd., D.C. Malcolm, April 24, 1972). Later work has expanded the surface mineralized zone for a strike length of 600 metres over a 300-metre width. (George Cross Newsletter #221, 1981).

Sampling in 2007 from trenching returned values including 581.7 g/mt Ag(16.97 oz./ton), 4.42% Cu, 0.13% Pb, 8.97% Zn from the skarn deposit. Metallurgical testing indicates that flotation gives high recovery rates for Ag and Cu. (J.T Shearer P. Geol report 2013).

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