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Cassiar Moly
The technical information and work program recommendations referred to below were derived from and are qualified by a technical report entitled "Review of Mt. Haskin and Cassiar Moly Molybdenum Prospects Cassiar District Northwestern British Columbia, Canada", dated December 1, 2007 and prepared by Eric Ostensoe, P. Geo., an independent a NI 43-101 Qualified Person. The information provided below must not be relied upon by itself and every visitor to this site should review the report in its entirety. The report is available on this site through the following link (CLICK HERE) and at http://www.sedar.com/.
The Property
Overland access to the Cassiar Moly property is from provincial highway 37, the Stewart-Cassiar road, to Cassiar townsite area and thence by a 10 km mining road that parallels Limestone Creek before crossing that stream and passing around Limestone Mountain and rising to alpine terrain and the Cassiar Moly adit. Most of the road is adequate for purposes of early stage exploration work but parts are in need of repairs and maintenance.
The "Cassiar Moly" property, located 22 km southwest of Mt. Haskin, is situated in the Cassiar batholith. It comprises coarse and fine molybdenite in porphyritic quartz monzonite host rocks and is located in proximity to the Storie Project, a similar deposit where exploration by Columbia Yukon Explorations Inc. is active and at a much more advanced stage. Cassiar Moly has not been drilled but was explored by means of 3500 feet (1067 m) of crosscut and drift in an adit that in 1967 and 1968 was driven 700 vertical feet (210 m) below the outcropping mineralization. A program of prospecting and other work is recommended.
Geology of the Cassiar Moly Area
The following description of the geology of the Cassiar Moly property is taken in its entirety from a report by D. D. Campbell, Ph.D., P. Eng., senior partner, Dolmage, Campbell and Associates, consulting geological and mining engineers, which group had recommended and directed a comprehensive exploration program to evaluate the property.
The Cassiar Moly property is situated in
"...three (known) finely crystalline monzonite stocks that are intrusive into the quartz monzonite that underlies most of the property. The quartz monzonite is part of a pluton which is intrusive along the eastern border of the Cassiar Batholith, the edge of which lies one mile east of the property.
"The ore occurrences on the property consist of isolated molybdenite showings within the quartz monzonite country rock over an area of one square mile. In the centre of this area a finely crystalline monzonite stock, termed latite, is intrusive into the quartz monzonite and on the surface it is richly mineralized with molybdenite, quartz and minor chalcopyrite, both as fracture-fillings and replacement disseminations. Outcrop samples of these showings range from 0.20% Mo across 12 feet to 3.6% across 5 feet. The area of intense mineralization, which encompasses the latite stock as well as the fringing quartz monzonite, is approximately the size of a mineral claim and would aggregate 13 million tons per 100 vertical feet" (Campbell, 1968).
The Cassiar Moly property has good exploration potential for development of viable porphyry-style intrusion-related molybdenum deposits. The property is centered on a monzonitic intrusion with quartz stockwork and disseminated molybdenite mineralization that was investigated many years ago. Little attention was directed to this and nearby molybdenite properties during recent decades when metal prices were very low. Most metal prices, particularly those of molybdenum, are now strong, in some cases reaching historic highs, even when currency inflation is considered.
The Cassiar Moly property has been explored by underground development and, possibly, underground drilling that has focused on several narrow and very high grade zones of molybdenite. Current elevated prices and strong world demand for molybdenum justify exploration based on a conceptual model of a large, low grade, open pit mineable deposit with possible higher grade zones that can be mined by underground methods. Exploration is recommended.
Recommendation
The report also recommends relocating the high grade showings on the nearby Cassiar Moly property and trenching and drilling these as soon as possible.
Management is particularly interested in duplicating and expanding the historically reported high grade showings of MoS2 on both the surface outcrop and the adit zones.