|
Previous exploration and government reports
indicate that the Puella occurrence contains widespread pyrite
mineralization and near solid laminae of pyrite, sphalerite and galena
as well as minor chalcopyrite and arsenopyrite. These minerals and
alteration are commonly associated with VMS type mineralization. Grab
samples from trenches at the occurrence contain up to2.9% Zn and 1.9% Pb.
The Company staked additional claims in the area to cover the along
strike projection on the Puella Bay mineralization, as well as the
remainder of the felsic volcanic complex that hosts the known
mineralization. |
|
|
A Company geologist mapped a portion of the mineralization in 2007 and reports
that there is extensive chlorite and sericite alteration associated with the
known quartz and sulphide veins. A VTEM survey is being flown over the area in
winter 2008.
Value Proposition
Geological Setting: Flin Flon - Snow Lake
Greenstone Belt. Proterozoic Marine Volcanic Rocks
VMS Target: Multiple 5,000,000 Tonne (plus) Copper-Zinc deposits
World Class Deposits: Flin Flon, Manitoba (Cu, Zn, Au, Ag) 60,000,000 Tonnes
Kidd Creek, Ontario, (Cu, Pb, Zn, Au, Ag) 150,000,000 Tonnes
Value Proposition: 5,000,000 Tonnes grading 2.5% Copper equals 50 lbs/tn at price of
2.25/lb totals US$112.50/tn plus 4.5% Zinc which equals 90 lbs/tn at a price of
$.70/lb totals US$63/tn for Zinc.
Total contained metal (Gross Metal Value) = $175.50 X 5,000,000=US$877 million US
(Excluding Gold and Silver credits which can be
significant in these deposits)
Disclaimer: This value will,
obviously, be discounted significantly, as it represents the value of metal
prior
to all the costs associated with mining, but we provide it to give
readers some context; |
