Hushamu
Location
The Hushamu property is located on northern Vancouver Island, approximately 25 kilometres west of Port Hardy and 360 kilometres northwest of Vancouver, British Columbia. The property consists of 215 mineral claims within the Nanaimo Mining Division and covers approximately 37,000 hectares (91,000 acres) immediately north of, and parallel to, the western end of Holberg Inlet. The Hushamu deposit is situated about 29 kilometres from the reclaimed BHP Island Copper Mine. The marine load-out infrastructure, and hydro power to the Island Copper property remains in place.
The claims cover a highly prospective porphyry copper district that measures 60 kilometres in length and eight kilometres in width. The district includes the previously mined Island Copper deposit in the south (345 million tonnes @ 0.41% Cu, 0.19 g/t Au), the Hushamu deposit in the central region and the Red Dog deposit in the north. Numerous additional copper/gold porphyry showings have been identified within the belt including the Pemberton Hills, NW Expo, Goodspeed and South Macintosh areas.
The current independent NI 43-101compliant Mineral Resource estimate for the Hushamu deposit, at the 0.2% copper cut-off, is:
During 2005, a multi-faceted mineral exploration program including historic data compilation, airborne geophysics (2687 line-kilometre), diamond drilling (3155 metres in 18 holes), geological mapping, prospecting, geochemical surveys (3842 soil samples) and alteration studies was conducted on the Hushamu property. The 2005 program was the first major exploration in the area since 1994. The highlight of the 2005 exploration program was the discovery of porphyry-style copper-gold-molybdenum mineralization at the NW Expo. This area had seen relatively little exploration in the past but in 2005, hole EC-228 intersected 1.0 g/t Au and 0.17% Cu over 95 metres.
Overall, the 2005 results indicate that significant potential exists on the property for the discovery of new porphyry-style deposits.
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