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Craig Lake Project


The Corporation owns a 100% working interest, subject to a 3% net smelter returns royalty, in 1 mineral disposition covering 2,764 hectares near Craig Lake, Saskatchewan near Flin Flon, Manitoba.

The project area is within 1.7km of the former producing Westarm Mine operated by Hudson Bay Mining and Smelting from 1978-1985 and from 1994-1996. Reported grades circa 1981 at Westarm were 3.82% Cu, 1.5% Zn, 17.4g/t Ag, and 1.37g/t Au.

Work to date includes flying a helicopter-borne versatile time domain electromagnetic ("VTEM") geophysical survey, carrying out a ground mobile metal ion ("MMI") survey, completing 4 test drill holes, and carrying out a downhole geophysical survey using the Crone Geophysics Borehole PULSE EM System ("PEM"). The downhole geophysics detected a significant high-conductance source below the drill holes outlining a steeply-dipping plate measuring in excess of 300 metres by 300 metres along strike and down dip. The downhole survey was then followed up with a surface Crone deep penetrating time domain electromagnetic survey (“DPEM TEM”) to confirm and better define the downhole anomaly. The DPEM survey resolved the downhole results into two separate targets, T1 and T2, with T1 consisting of 3 separate, steeply-dipping plates measuring 500 metres by 500 metres in two dimensions, and T2, located 800 metres north of T1, representing a single plate measuring 800 metres by 800 metres along strike and down dip. This exact type of PEM system has been very successful in discovering deposits in the Flin Flon-Snow Lake area and worldwide.

A surface mobile metal ion (“MMI”) survey in the area of the geophysical targets yielded anomalous values for Cu, Zn, Ag and Au as well as for Ni.

Permits to carry out a two-hole drilling program, have been received from the Saskatchewan Ministry of Environment.

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