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| Projects | | Friendly Lake | | |||||||||||||||||||
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| | Location, Infrastructure and Resources: • Friendly Lake property covers 72 km² of rolling terrain 29 km west of Little Fort in south BC. • Property is transected by a network of logging and exploration roads accessible from Highway 24. • Kamloops, Barriere, Little Fort and Clearwater located along the North Thompson valley are strongly resource oriented communities that can provide an ample source of labour and services. History: • Exploration since the 1960s has focused on search for porphyry style copper deposits. • In 2004, Lithic Resources conducted geophysical and geochemical surveys along with 2,373 metres of drilling in the search for alkalic Cu-Au deposits. Geology: • Friendly Lake lies within the Quesnel Trough, a prolific north-northwest trending geologic belt host to numerous base and precious metal porphyry and skarn type mineral deposits along with current and formerly producing mines. • Major deposits in the southern Quesnel Trough include the Afton-Ajax (New Gold), Copper Mountain, Mt Polley (Imperial Metals), Highland Valley, Brenda, Craigmont and the Hedley gold skarns. • Extensive but generally shallow glacial till covers much of the property and surrounding region. Mineral Occurrences: • Three base and precious metal occurrences are documented on the Friendly Lake property. • These include the Bogg - intrusion breccia hosted Cu-Au-Pt-Pd, the RO -- volcanic hosted Pb-Ag and the FL -- volcanic hosted Cu-Mo-Pb-Zn occurrences. Historic Exploration Results: • The Bogg Showing contains significant amounts of platinum group metals with B.C. Geological Survey sampling yielding 3.3% Cu, 25 g/t Ag, 208 ppb Pt and 149 ppb Pd. • Lithic Resources delineated large Cu-Au-Mo geochemical and geophysical anomalies some of which remain unexplored. • Gold mineralized intrusive and quartz vein float were discovered but not traced to source. 2007 Exploration Program Highlights: • Evaluation of an airborne geophysical anomaly led to discovery of a new Cu-Zn showing. • Detailed grid sampling revealed strong, Pb-Zn-in-soil anomalies north of the new showing. Recent Developments: • The announcement of a major molybdenum discovery at Newmac Resource's Crazy Fox property 10 km east of Friendly Lake demonstrates a new and exciting potential for the region. Some of the largest drill intersections of molybdenum bearing intrusive rock reportedly came from beneath several hundred metres of Nicola volcanics. • The molybdenum potential on Friendly Lake was never fully assessed largely due to previously low metal prices. • A review of the Friendly Lake exploration data however indicates a similar geologic setting, a large (2 km²) molybdenum-in-soil anomaly, regional geochemical stream anomalies as well as the documented FL mineral occurrence in the eastern part of the property. Within the soil anomaly, drill hole FL04-10 intersected highly anomalous amounts molybdenum in Nicola volcanics sporadically for over 200 metres. At a depth of 212 metres a 1.75-metre sample graded 0.34% Mo. 2008 Exploration Program Candorado is planning an exploration program that includes prospecting, mapping and additional geochemical surveys in the area of the newly discovered Cu-Zn showing and the large molybdenum-in-soil anomaly. Trenching and/or drilling will further test the newly discovered mineralized zones and geochemical anomalies. Friendly Lake Fact Sheet
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