COPPER/GOLD – Colorado Resources Ltd. June 18 reported the completion of its 2014 phase I drilling programs at its North Rok project and the Eldorado project optioned from Sunrise Resources Ltd. At North Rok, Colorado completed 2,191 meters of diamond drilling in five holes. This program followed the recommendations of an NI 43-101 report to target the expansion of the known inferred resource and drill untested kilometer-scale geophysical anomalies that cluster around the existing resource. At the optioned Eldorado property, Colorado drilled four holes for a total of 892 meters. This drilling followed up on last year's 71-meter drill intercept of 0.33 grams per metric ton gold and 0.14 percent copper over in hole in EL13-004 and to drill test adjacent altered areas for increased copper and gold values in a geological setting similar to the East Zone at Red Chris. Colorado anticipates assay results from the Eldorado drilling in late June and North Rok in early July. Colorado Resources President and CEO Adam Travis said, "We are very pleased with the progress Colorado has made in the last month at both North ROK and Eldorado. Our technical team has delivered the Phase I projects on time and under budget. We eagerly await the assay results from both these projects in the Red Chris area and look forward to commencing our 2014 work program shortly at the Company's KSP property in the Snip Camp."
COPPER/GOLD – Copper Fox Metals Inc. June 18 reported results for its 2013 Schaft Creek Joint Venture exploration and geotechnical program with Teck Resources Ltd. The objectives of the program were achieved in that mineralization was intersected about 300 meters east of the 2012 resource block model in the Paramount zone and also to the west. Copper Fox said the results of the geotechnical studies to provide updated data on slope stability were positive. The Schaft Creek Joint Venture approved a 2014 program consisting of a comprehensive series of studies to review all aspects (including metallurgical, pit slope design, geological modeling and environmental) of the Schaft Creek project in northwestern British Columbia and to update and optimize various parameters with a goal to improving the economics of the Schaft Creek deposit. In addition to the ongoing optimization work; a field program of mapping and core re-logging is planned to collect additional structural information for pit slope design purposes and to update the geological model for the Schaft Creek deposit. The geological modeling on Schaft Creek could have implications on the potential size of this deposit as well as provide indicators that would aid future exploration on the other targets identified within the Schaft Creek property. Environmental monitoring studies will also continue through 2014. The 2014 program is estimated to cost about C$2.5 million.
ZINC/LEAD/SILVER – Canada Zinc Metals Corp. June 17 said it has begun drilling at Akie, the company’s flagship exploration project in northeastern British Columbia. The 1,600-meter drill program is focused on the Cardiac Creek SEDEX zinc-lead-silver deposit. The first drill hole, A-14-111, is targeting the edge of the deposit’s high-grade core along strike of hole A-07-49 and up-dip of hole A-10-73B. Other targets, representing approximate 100-meter step-outs, will seek to expand the high-grade core up-dip of holes A-08-56 and A-08-57 and up-dip of hole A-11-98. A single target is planned to extend the high grade core to the southeast along strike of A-13-105 and another planned target represents a significant step-out along strike of hole A-13-106 with the intent of expanding the known northwestern limits of the deposit. The current planned program is expected to continue through to the end of July. Additional work will include targeted soil sampling to extend historical soil survey coverage on Yuen North and a planned airborne gravity survey on the Akie, Mt. Alcock and Yuen North properties.
INFRASTRUCTURE – Dolly Varden Silver Corp. June 17 reported that Kitsault Hydro Electric Corp. has begun upgrading the Kitsault Valley Road that originates in the village of Alice Arm and continues 34 kilometers (21 miles) along the Kitsault River, providing access to the Torbrit, North Star and the Wolf deposits on the Dolly Varden property. Kitsault Hydro is funding the road upgrade as part of its planned re-development of the eight mega-watt Kitsault Storage Dam hydro power facility that provided power to the Torbrit mine in the 1950s and lies on the northern border of the Dolly Varden property. The road is an all-weather resource road that was substantially upgraded from 2004 to 2008. This year’s upgrade is expected to open road access up to kilometer 26 (mile 16), near the portal area of both the Torbrit and North Star deposits. Dolly Varden and Kitsault Hydro have agreed to cooperate and share resources where possible to facilitate the road upgrade being funded by Kitsault Hydro. If re-commissioned, the hydro facility could provide power to the Dolly Varden operations in the future. Dolly Varden President and CEO George Heard said, “The Dolly Varden Property is in a very advantageous location, being in an excellent geologic location and having access to nearby infrastructure. Road access, proximity to tidewater, and nearby potential power sources should reduce future capital and operating costs, benefitting the exploration and development of the Dolly Varden property.”
BENEFITS AGREEMENT – Seabridge Gold Inc. June 13 said it has entered into a comprehensive benefits agreement with the Nisga'a Nation establishes a long-term cooperative relationship under which the Nisga’a Nation will support development of the KSM copper-gold project in northwestern British Columbia, participate in economic benefits from the project and provide ongoing advice. "This formal expression of support from the Nisga'a Nation is a major step forward for KSM. As the only Treaty nation involved in the KSM environmental assessment process, the Nisga’a’s views carry considerable weight. This agreement validates Seabridge’s open, transparent and flexible approach to working with the Nisga’a Nation and First Nations generally on development of the KSM project, and the KSM project is better for it,” said Seabridge Chairman and CEO Rudi Fronk. The agreement includes commitments by Seabridge regarding jobs and contracting opportunities at the KSM project, education and training, financial payments and a framework for working together on ongoing development matters. This comprehensive agreement also addresses concerns expressed by the Nisga’a Nation around the potential environmental and social impacts of the KSM project. "We appreciate Seabridge’s open and direct approach to working with the Nisga’a Nation,” said Nisga’s Nation President Mitchell Stevens. “They began consulting with us very early on in the development of the KSM project design. They listened to our concerns and took them seriously. They have been very responsive to our concerns around the environmental and social impacts of the project on Nisga’a Treaty interests. As well, Seabridge has demonstrated a real willingness to assist the Nisga’a Nation in creating genuine economic opportunities and building the capacity of Nisga'a citizens." Highlights of the agreement include: Nisga’a Nation agreement to provide letters in support of KSM to regulators and potential investors in Seabridge or the project; financial payments to Nisga’s Nation upon the achievement of certain project milestones and annual production payments based on a percentage of net profits, with the net profits payable normalizing after the project has recovered its capital costs; commitments to education and training of Nisga’a citizens so that they will be better able to take advantage of the economic benefits at KSM; mutual cooperation on completing the operational permitting process for the project; a framework to achieve employment targets and ensure Nisga'a businesses will have preferred access to contracting opportunities; cooperation on responding to social impacts which Nisga’a Villages may experience as a result of the project. The benefits agreement is to remain in effect throughout the life of the KSM project and will apply to future partners in the project.
NICKEL/GOLD/COBALT– Westhaven Ventures Inc. June 12 reported that ground geophysics has begun at its Ben property, located midway between the Mount Polley and Gibraltar Mines, about 50 kilometers (31 miles) north of Williams Lake, B.C. The purpose of the survey is to follow up on last fall’s drill campaign that confirmed both anomalous nickel and gold mineralization. Hole BN13-03 intersected 70.6 meters grading 0.31 percent nickel and 0.012 percent cobalt from bedrock surface to 87 meters depth and hole BN13-02 intersected 15.0 meters grading 0.18 percent nickel from surface to 19.0 meters depth. Hole BN13-02 intersected two intervals containing gold, including 1.5 meters grading 0.59 grams per metric ton gold and 2.8 meters grading 0.57 g/t gold. The induced polarization and magnetic survey also will evaluate the eastern part of the property where geologists have traced a broad zone of alteration and geochemical anomalies that can be traced over a distance in excess of 10 kilometers (six miles). Prospecting conducted earlier this year uncovered highly serpentinized ultramafic rocks that returned values of 0.20, 0.21 and 0.22 percent nickel. Westhaven President and CEO Gren Thomas said, “Last year’s reconnaissance IP program is what led us to drill 70 meters of 0.31 percent nickel. We are confident that IP and magnetic surveys are going to continue to be instrumental in the delineation of drill targets moving forward.”
