[ NI 43-101 Technical Report, September 2014 ] The Mount Washington Project (formerly known as the Mt. Washington/Connie Hill Property) is located on east-central Vancouver Island, approximately 25 kilometres due west of Courtenay BC, and extends for 10 kilometres from Constitution Hill and Wolf Lake west to Mount Washington. The property presently covers 2,421 contiguous hectares (5,980 acres). Access to the property is by a network of well-maintained paved and gravel mining and logging roads. Electric power and ample water for drilling is available nearby. Port facilities and year-round accommodations, construction supplies, services and labor are also readily available in the Campbell River-Courtenay area. Murex Breccia Zone
The primary target area on the property is currently the Murex Breccia Zone, located approximately 3 km due east of Mount Washington. As summarized in BC MINFILE 092F 206,?"the Murex zone represents an area of roughly 700 by 700 metres. The mineralization is thought to be the result of replacement but also has characteristics in common with porphyry-type deposits. The zone has been tested by a number of diamond-drill holes. One hole drilled in 1989 cut strong breccias with pyrrhotite-chalcopyrite mineralization about 30 metres below the surface. A 4 metre section of core assayed 4.08 per cent copper, 32.91 grams per tonne silver and 6.31 grams per tonne gold (George Cross News Letter #5, January 8, 1990)".
A National Instrument 43-101 Technical Report (AR 34200) filed with the Ministry of Mines in 2013 and authored by Mr. Jacques Houle, P.Eng., documents extensive drilling and development on the Mt. Washington project over the course of several decades until 1992, when the bottom fell out of the metals market and mine development in the area came to virtual halt. Included in the report is an exhaustive history of development at the Murex Breccia Zone, delineated by outcrop. trench mapping. sampling, and as many as 45 drill holes. A total of five sub-zones have been identified within the Murex deposit, labeled Zones A, B, C, D, and E. Noteworthy examples from the report show diamond drilling on the Murex by Noranda in 1988 yielded significant intercepts, as follows:
NMX-88-17 yielded 0.25m. @ 3.7 g/t gold, 46 g/t silver and 9.7% copper from 196.5 to 197.21 m. from a massive sulphide vein in Zone A Later drilling yielded two significant intercepts 100 metres apart stepping out 100-200 metres east of a 1986 drill hole cluster in the D Zone, as follows:
NMX-89-25 yielded 4.0 m. @ 6.5 g/t gold, 30 g/t silver and 4.1% copper from 29 to 33m., including: 1.0 m. @ 21 g/t gold, 71 g/t silver and 9.3% copper from 29 to 30 m. in a massive sulphide vein in basalt with pyrrhotite, chalcopyrite and pyrite NMX-89-26 yielded 6.5 m. @ 0.23 g/t gold, 7.3 g/t silver and 1.1% copper from 16.2 to 22.7 m. in a siliceous basaltic breccia with pyrrhotite and chalcopyrite In his NI 43-101 report Mr. Houle states his opinion that "underground, steeply-dipping, bulk mineable, clustered, breccia deposits totaling 100 million tonnes @ 1 g/t gold, 5 g/t silver, 0.50% copper, 0.01% molybdenum, 5 g/t tellurium and 0.5% arsenic" represents a reasonable exploration target model that can be used as a starting point. From this the Company believes that the Murex and Oyster (described below) breccia deposits combined represent a potential in-situ resource of at least 200 million tonnes @ 1 g/t gold, 5 g/t silver, 0.50% copper, 0.01% molybdenum, and 5 g/t tellurium, especially when other similar breccia deposits known to be hosted on the property are factored in.
Upon review of historical aeromagnetic surveys of the Murex Breccia area, the Company has staked additional ground to the south and east of the Murex where several additional breccia bodies have been discovered over a broad area, and where a large aeromagnetic high has been determined to be centered on the property. The newly staked ground now covers the entire magnetic anomaly, which is approximately 1.5 kilometers in length and 1 kilometer in width. All known copper-gold-silver mineralization at the Murex contains pyrrhotite and is magnetic, suggesting that the magnetic anomaly may indicate the presence of additional mineralization.
Slocan in southeastern British Columbia. The property covers 604 hectares (1,493 acres) over several reverted crown grants and includes five other past-producing mines; the Colorado (MINFILE 082FNW161), the V&M (MINFILE 082FNW191), the Senator (MINFILE 082FNW164), the Sapphire (082FNW190), and the Homestake (MINFILE 082FNW213), in addition to the Coronation (MINFILE 082FNW162). Primary mineralization is gold, silver, lead, and zinc. The highest combined historical assays for ore shipped to the mill are 27.7 grams (0.89 ounces) per tonne gold, 13,000 grams (418 ounces) per tonne silver, and 20% lead.
According to MINFILE 082FNW162, the Coronation was reported to have produced ore grading as much as 13,000 grams (418 ounces) per tonne silver and 20% lead. The BC Assessment Report 18603 report notes that a sample of tetrahedrite-bearing ore from the portal assayed 2.1 grams per tonne gold and 6,000 grams (192 ounces) per tonne silver, and a sample from the Coronation dump assayed 0.4 gram per tonne gold, 2,414 grams (77.6 ounces) per tonne silver, 1.2% lead and 10.9% zinc. The same report documents samples from the Senator adit that assayed 6.1 grams per tonne gold and 1,080 grams (34.7 ounces) per tonne silver over 0.3 metres on a quartz-pyrite vein. MINFILE 082FNW164 documents that ore shipped from the Senator mine assayed 14.38 grams per tonne gold (0.46 ounces) and 1,390 grams per tonne silver (44.38 ounces). It was also reported (MINFILE 082FNW191) that one of the V&M mine adits shipped ore that assayed an average of 11.27 grams per tonne gold and 1,959 grams per tonne silver (63 ounces). Past-production at the Homestake mine (MINFILE 082FNW213) averaged 22.3 grams (0.72 ounces) per tonne gold, 2,610 grams (83.93 ounces) per tonne silver, 0.13% lead and 0.15% zinc. Recorded production at the Sapphire mine averaged 27.73 grams per tonne gold (0.89 ounces) and 1,413 grams per tonne silver (45.4 ounces).
In July 2012 the Company conducted a work program at Coronation Gold under the supervision of Mr. Dan Oancea, P.Geo. Prospecting, sampling and a short geophysical survey were undertaken over two prospective parts of the property. Samples were collected from mineralized host rocks and vein materials. Seven of these samples were sent to ALS Chemex Labs in Vancouver for analysis, and the most significant assays have been reported as follows:
C05: 1.53 grams per tonne gold, and 265 grams (8.52 ounces) per tonne silver; C07: 25.9 grams (0.83 ounces) per tonne gold, and 2,590 grams (83.27 ounces) per tonne silver; C08: 17.45 grams (0.56 ounces) per tonne gold, and 479 grams (15.4 ounces)per tonne silver. The Company considers these results to be entirely consistent with previous assessments as well as the historical ore grades from the 6 past-producing mines on the property, all of which are in close proximity. Accordingly, we believe Coronation Gold to be a property of merit that justifies further follow up work during the upcoming season.
Sources: BC Assessment Report 18603, BC MINFILE 082FNW161, 082FNW162, 082FNW164, 082FNW190 082FNW191 082FNW213
Market Data 
Markets 
AI
