Redstone
The Redstone copper property is located approximately 200 kilometres south west of Norman Wells in the Nahanni Mining District, Northwest Territories. The property is comprised of five mining leases (5,662 hectares/ 13,990 acres) and 55 mineral claims (29,562 hectares/ 73,018 acres) in the Redstone copper belt and spans an area from Coates Lake in the south to the Keele River 150 kilometres to the north.
The current independent NI 43-101 compliant Mineral Resource Estimate for the Coates Lake Project, at a 3.00% copper cut-off grade is:
The principal copper occurences at Coates Lake were discovered by regional prospecting during 1961. In 1963, a program of detailed geological mapping and a drill program totaling 1,619 metres in diamond drill holes was completed. At that time, the importance of these "red-bed copper" deposits and their similarity to the Rhodesian Copper Belt was recognized by the late Dr. J.A. Coates. Twenty seven drill holes totaling 5,283 metres were completed in 1964. In 1970 the property was optioned to Cerro Mining Company of Canada Limited and in 1971 the company drilled three diamond drill holes totaling 1,375 metres. Shell Canada Resources Limited optioned the property in 1975 and 1976 and completed five diamond drill holes for a total of 4,052 metres of drilling in the central and northern parts of the property. This was followed by an additional 3,200 metres of drilling in three holes during 1977.
In 2005, Lumina Resources completed an exploration program that included a semi-regional, GIS based compilation of all available geological, geochemical, geophysical and topographical data, as well as satellite, mineralogical and metallogenic data pertaining to the Redstone copper belt and specifically the mining leases at Coates Lake. This was followed by an Induced Polarization orientation survey over areas underlain by known copper mineralization. Once the characteristics of the mineralized units had been identified, a follow-up IP survey was carried out to determine the location and attitude of copper mineralization in areas outside of the known resource at Coates Lake.
In addition, Lumina Resources completed a regional, geological evaluation of the Redstone copper belt. Work included a structural and stratigraphic assessment of the broader Coates Lake area and sampling of the copper-bearing bed from Coates Lake north to Keele River. This work culminated in the staking of 55 new claims (73,000 acres) in late 2005 and early 2006.
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