At the time of writing Vale has mobilized exploration teams to the area.May 18 2010
Furthermore the world’s second largest mining company (Vale) has shown by their own staking activities, that we are not alone in thinking that the area deserves further exploration work.
Ken Stead (Prospector), discovered gold-copper mineralization on June 25,1997 and performed additional sampling on the licence(5643M) in July and August of that year. Additional claims were subsequently staked by Cornerstone Resources.
An independent examination on behalf of Cornerstone Resources, by KIEX Consulting Ltd., confirmed the findings of Ken Stead
www.mineprospector.com/documents/Pike_Property_Report.pdf Everything listed here is from this report... color=red]Although it might be selfserving by the company that wrote it why wouldn't be true.....?[[/color]After this report seems to be a multiple company NDA.....
Pike Property Exploration History
The historic work described above was also reported by Hutchings, C. 1998: in a Report on geological, geochemical, geophysical, and prospecting on the Princess Property, Newfoundland, July 2 1997 to June 5 1998. (Cornerstone Resources Inc. 30 pages.) [NFLD/2678]
Minor pyrite and galena occurrence in a mafic dyke which cuts felsic volcanic close to a contact/fault with mafic volcanics (Hutchings,1998).
The host rock for the mafic dyke is a purplish-pink, massive, Mn-oxide and hematite bearing felsic volcanic, which is feldspar porphyritic (<4 mm) locally as well as some places where flow banding occurs. Flow patterns occur near mafic dyke in quartz (Rmz-040) and pyrite occurs in the felsic near the contact with the dyke.
Sample Rmz-040 is a sample from the green mafic dyke with quartz, and contains a silvery metallic mineral (Molybdenite?)
on adjacent mineral claims. Historic samples from these copper occurrences are significant, some having assayed up to 21.1% Cu, 1194 ppb Au, and 3.02 oz/t Ag in past sampling. The existence of Alkalic gold-rich porphyry copper deposits with high REE are not uncommon and it this case we believe it to be of important value -
F&P firmly believes that the Pike property could hold excellent potential for discovery of Rare Earth Minerals associated with porphyry style copper deposits and/or rich Pb vein hosted mineralization within felsic volcanic rocks and mafic dykes on the property. The property sits on a suite of subaerial mafic and peralkalic felsic lava and pyroclastic rocks, which is related to (by similar trace-element character) the subvolcanic Louil Hills peralkaline granite (O’Brien et al., 1988; see Figs. 1 & 3)
Cache believes that the prealkaline and prealkaline related volcanic and high level plutonic rocks of the Bull Arm Formation hold excellent potential for discovery of Rare Earths and other minerals. Cache Exploration Inc is a mineral exploration and development Company, headquartered in Vancouver BC is, with a focus on rare earth mineral deposits in Canada.
Additional mineral claims have now been staked to the north of the Cache Exploration Inc acquisitions and Kat Exploration has also added to their land holdings to the south.
