Puella Bay JV

The Puella Bay JV is a joint venture between Ken de Graff and VMS Ventures. The Property consists of 17 claims totaling 3,453 ha. Base metal massive sulphide mineralization hosted within a sequence of volcanic rocks and exhalite are indicative of volcanogenic massive sulphide type base metal mineralization (“VMS”). Historic trench examination revealed highly altered felsic volcanic rocks mineralized with sphalerite, chalcopyrite and pyrite mineralization, indicating the presence of widespread hydrothermal activity capable of producing an economic base metal massive sulphide-type deposit. This deposit type is representative of Flin Flon-Snow Lake belt VMS deposits including the Reed Mine. 

Geological information for the Puella Bay JV is difficult to obtain because of widespread overburden and loose swamp cover. Based on historic and current drill hole information and a limited amount of outcrop mapping the area is characterized by a sequence of variably altered felsic volcanic rocks locally mineralized with sphalerite, chalcopyrite, galena and iron sulphides. This sequence is flanked to the north by epiclastic sedimentary rocks and to the south by basalt. Graphitic argillite units are intercalated with the felsic volcanic rocks.

The Company reported a 1,202 metre drill program in 2009, designed to test 4 targets developed from airborne geophysical surveys and to obtain geological information in areas of the property with poor outcrop exposure. Drilling intersected layered siltstones, argillite, graphitic argillite and a felsic rock of unknown affinity and in the area adjacent to base metal mineralized trenches intersected 300 m of altered and pyritized felsic volcanic rocks. Alteration included pervasive sericite, biotite and pyrite with local minor amounts of sphalerite, chalcopyrite, galena and arsenopyrite in late veins that cross cut the early synvolcanic alteration. 

No work planned at this time.