The Tulameen Platinum Project is located below Grasshopper Mountain along a 4.5 km stretch of the Tulameen River and Britton Creek, near the village of Tulameen and approximately 22 km west-northwest on a straight line from Princeton, BC. Including a large block of claims 10 km to the south of the river along Newton Creek, the property covers a total of 1,258 hectares (3,110 acres). During the late 1800?s, the Tulameen District was the most important producer of platinum in North America.
The Tulameen Platinum Project covers a sizeable part of the dunite core of the ultramafic unit (Alaskan-type) that hosts platinum, iridium, rhodium and osmium mineralization, and which is often accompanied by chromite and magnetite. It is this part of the dunite core that has been eroded by the Tulameen River over time and resulted in the release of most of the 20,000 ounces platinum that had been historically mined by placer operations along the Tulameen River and its tributaries. It is thus our belief that the Company?s Tulameen Platinum Project property hosts the source of most of the historical placer platinum production in the Tulameen District.
Previous drilling and assays of drill core and chip samples in the area of the Company's "D" claims are documented to have returned consistently significant platinum values. BC Assessment Report 27009 filed with British Columbia in 2002 describes a channel sample that returned an assay of 7.78 grams per tonne platinum over 3.5 metres, including 10.17 grams per tonne platinum across 2.0 metres in chromitiferous dunite. Assay results for chromium were reported to be very high, ranging from 8.67% to 24.97% chromium. In two other zones, the best samples ran 15 grams per tonne platinum in one zone, while results from diamond drill core analysis in the second zone returned platinum values of 30.89 grams per tonne over 3.05 metres. In addition, sampling of two historic quarries obtained values ranging from 8 to 64 grams (2.06 ounces) per tonne platinum (BC Assessment Report 27009, pages 19-25).
The northern portion of the property features several other known platinum-bearing zones. The Ridge Zone (MINFILE 092HNE207) is a platinum-chromite showing that outcrops along a northwest-trending ridge on the southern slopes of Grasshopper Mountain.
According to BC Assessment Report 17170, samples from the Ridge Zone has assayed up to 1.45 grams per tonne platinum. This zone has a strike length of 150 metres and a width of 50 metres, with an average assay of 0.55 grams per tonne platinum. The Ridge Zone connects with two adjacent platinum-chromite occurrences known as the Creek Zone and the South Zone. Samples collected from the South Zone, which has a strike length of approximately one kilometer, assayed up to 1.4 grams per tonne platinum. In between the Ridge Zone and the South Zone, the Creek Zone assayed up to 4.4 grams per tonne platinum (Newmont Exploration). The Creek Zone has a strike length measuring 600 metres (0.37 miles) long and a width of 60 metres.
In 2009, an assessment on an adjacent claim near Olivine Mountain yielded assays as high as 26.94 and 15.97 grams per tonne platinum from samples taken within 100 metres of the Company?s claim boundary (AR 28750). The samples had been collected from an extension of the platiniferous dunite rocks that extend south from Olivine Mountain.
The H&H showing on Hines Creek lies approximately 3 kilometres due east of the main zones. According to MINFILE 092HNE205, a grab sample from the H&H analyzed 3.6% copper, 0.066 grams per tonne gold, 17.1 grams per tonne silver, 0.247 grams per tonne platinum, and 0.730 grams per tonne palladium (Assessment Report 17280, page 9, sample W461). A quartz vein up to 10 centimetres wide outcrops 50 metres to the south. A grab sample of this vein assayed 0.810 grams per tonne gold and 0.025 grams per tonne platinum (BC Assessment Report 17280, page 9, sample W637).
Olivine Resource & Opportunity
In addition to the well-established evidence of extensive Platinum Group Metals (PGM) mineralization on the property, the Company notes that the ground covered by the Tulameen Platinum Project is believed to also host a 15 million tonne drill-delineated historical resource of olivine. An industrial mineral, olivine is a magnesium iron silicate that is also known as peridot and chrysolite. As documented in MINFILE 092HNE189 and the aforementioned BC Assessment Report 27009, the resource estimate for the Olivine deposit was initially compiled in 1989 by Dia Met Minerals Ltd., the company led by Charles Fipke that discovered the first diamond mine in North America. The reports states, "The industrial mineral potential for olivine was evaluated by diamond drilling in an area located immediately northeast of the confluence of the Tulameen River and Britton Creek by Dia Met Minerals during the period from 1986 to 1989. Dia Met re-sampled an area recognized as having potential for olivine from the CANMET study, and on the basis of these results, thirty-one (31) percussion drill holes totaling 4,626 feet were completed. The drill core was submitted for LOI (loss on ignition) tests. Dia Met outlined a zone containing 15 million tonnes in the category of geologically indicated reserve, including marginal grade, to a depth of 170 meters, with a surface dimension of 105 meters by 270 meters along the north side of the Tulameen River within the dunite core of the Tulameen complex." The Company notes that the Dia Met drilling has not yet been verified since the Company acquired the property. It is therefore considered a historical estimate and it should not be relied upon. The Company also reiterates that the Tulameen Platinum Project property covers a sizeable part of the dunite core of the Tulameen Ultramafic complex, and to date only a small portion of it has been assessed for its olivine content. As such, it is expected that additional deposits of commercial grade olivine are yet to be defined upon further exploration and evaluation.
Olivine is used in foundries, refractories, sand blasting, soil conditioning and heat storage units, and sells for $50 to $100 per ton, depending on the grade. More importantly, and of great interest to the Company, the olivine mineralization derived from the dunites is known to also have potential application as raw feed for mineral CO2 sequestration to help moderate global warming by slowing the growth of carbon emissions in the atmosphere. In the global carbon market, each ton of carbon sequestered is called a carbon credit. Using sequestration, companies can buy or generate these credits, which are then sold or traded by companies to offset their own carbon dioxide (CO2) emissions. The Company continues to research this potential new opportunity to take advantage of the carbon credit market, and will report further findings and developments as we proceed forward.
Sources: BC Assessment Report 27009, BC Assessment Report 17170, BC Assessment Report 29903 , BC MINFILE 092HNE128, BC MINFILE 092HNE207, BC MINFILE 092HNE205, BC MINFILE 092HSE159, BC MINFILE 092HSE232 BC MINFILE 092HNE189 Analysis of PGE Mineralization in Tulameen District
[ 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.
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