The Company has entered into a Property Option Agreement to acquire a 100% interest in seven (7) mineral claims known as the Caledonia, Cascade and Bluebell, subject to a NSR between 1-2%. Located in the Nanaimo Mining District of northern Vancouver Island, the claims are adjacent to the joint venture partnership between Freeport-McMoRan and Northisle Copper and Gold Inc. Under the terms of this joint venture partnership agreement, Freeport-McMoRan can earn up to a 65% with C$24 million in exploration expenditures over seven years. Freeport-McMoRan is currently one of the world’s largest copper producers.
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.
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).”
“Sampling in 2007 from trenching returned values of581.7 g/tonne Silver (16.97 oz./ton), 4.42% Copper, 0.13% Lead, 8.97% Zinc from the skarn deposit. Metallurgical testing indicates that flotation gives high recovery rates for Silver and Copper. Discussions have been initiated regarding shipping a 10,000 tonne bulk sample to the Myra Falls mill” (J.T Shearer P.Geol report 2013).
Northern Vancouver Island, British Columbia
Seven (7) Mineral Claims
- Polymetallic Silver, Copper, Lead, Zinc Deposit
The Surrounding Region
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.
The Caledonia project is subject to a staged, four year option agreement whereby the company may earn a 100% interest in the project by making cash payments totalling $100,000 plus share issuances totalling 1,000,000 shares and making a minimum exploration expenditure of not less than $200,000. This agreement is subject to a 2% NSR. The transaction is subject to TSX Venture Exchange approval and all shares issued are subject to a four month and a day hold period under applicable Securities Laws.
We’d be happy to answer any questions about this project.
Click below to submit a form with any query you might have.Contact Us