 | 
| |
Lady Ermalina Chemainus Claims100% ownership
These claims cover 550 hectares of ground on a NW trending section of the Sicker formation (a strong exploration target for VMS Copper/Lead/Zinc deposits). Within this block, the Lady A, B and C showings were drilled for magnetite in 1953. A 1953 report indicates an, (non-43-101 compliant) inferred iron resource of 360,000 long tons of 25% Iron in the Lady A zone and 2,367,000 long tons of 18% iron in the Lady C zone.
This "iron formation" has been re-interpreted as a possible exhalative from a massive sulphide ore zone at depth, as is common in the New Brunswick camp. The thickness of the zone in the Lady C area (up to 150 feet thick) in two horizontal drill holes across the steeply dipping mineralization suggests the possibility of worthwhile size to the zone. This section is 1.5 km northwest of, and on strike with, the Randy North Zone discovered by Laramide Resources and 5 Km northwest of the Coronation zone which has a reported resource of 529,000 tonnes of 1.01% Cu, 1.22% Pb, 5.87% Zn, 0.15oz/T Au, 3.21 oz/T Ag. These deposits, and the Mt. Sicker mines 13km SE, are all in the Paleozoic Sicker formation, of equivalent age to the Myra Falls formation hosting the Westmin deposits including the large VMS high grade HW ore body now operated by Breakwater Resources. The Lady showing is easily accessible by logging roads for a drill program and has a major power line traversing the project.
While the main focus of the company is creating value through the acquisition and development of uranium projects, the company is actively seeking out joint venture part-ners to add value to these non-core assets.
| | |
