Project History

Chu Chua was discovered in 1978 by Craigmont Mines. Chu Chua is located approximately 30km north of Kamloops, British Columbia, with excellent access and infrastructure. The deposit is a Cyprus-type volcanogenic massive sulphide body hosted in two steeply dipping lenses of massive pyrite-chalcopyrite and magnetite up to 40m thick, with a known strike length of 400m and a known depth of 250m.

Key Points

• 100% interest
• 98 historical diamond drill holes totalling over 19,000m in resource area
• Inferred resource of 2.5 million tonnes averaging 2.0% copper, 9.4 g/t silver, 0.5 g/t gold and 0.3% zinc
• Grades for resource estimate capped at 5.9% copper, 32 g/t silver and 1.4 g/t gold
• Over 92% copper recovery producing a 22% copper concentrate
• 75% of deposit lies within 100m depth from surface
• Mineralization occurs over 480m strike length and 180m depth

Resource And Metallurgy

A NI 43-101 compliant resource estimate by APEX Geoscience Ltd. completed in 2012 reported an Inferred Resource of 2.5 million tonnes averaging 2% copper, 9.4 g/t silver, 0.5 g/t gold and 0.3% zine, using a 1% copper cut-off.

Metallurgical work conducted by ALS Metallurgy on core samples from Chu Chua reported copper recoveries up to 92%. A single preliminary flotation test produced a 22.4% copper concentrate and further testing may result in improved concentrate copper grades.