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Projects
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Messabi
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| Last: |
0.06 |
| High: |
0.06 |
| Low: |
0.06 |
| $Chg: |
+0.03 |
| Volume: |
5000 |
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Introduction
The Mesabi property is located 36 km northeast of Kamloops B.C and is accessible by paved highway. Copper and magnetite mineralization was originally discovered on the property in 1915 and by the 1940's some hand trenching had been completed. In 1966, following a ground magnetic survey which documented a strong magnetic anomaly on the south side of the property, Madison Oil Limited drilled four diamond drill holes totalling 250 m to test the anomalies. Results included 4.5 m grading 1.67 per-cent copper and .48 g/t gold in semi massive magnetite with the hole bottoming out in mineralization. The three other holes encountered mineralization but were not sampled or assayed. In 1980, Cominco Limited completed a geochemical survey, geological mapping and flux-gate magnetometer survey. Cominco's work documented a strong northwest-trending magnetic anomaly and associated cooper-in-soil anomaly over a strike length of 1.4 km. In 1997, the property was examined by Echo Bay Mines Ltd. who collected 104 soil samples, which yielded values up to 4500 ppm copper and 2920 ppb gold. Echo Bay strongly recommended drilling the property, but exited the exploration program due to financial reasons.
Regional Geology
The property is situated within the Upper Triassic to Lower Jurassic Nicola Group, which forms part of the Quesnel Trough, a volcanic and sedimentary arc sequence affected by Upper Triassic to Jurassic intrusions. The Quesnel Trough extends for over one thousand km from northern Washington State to north-central British Columbia, and hosts alkalic porphyry copper-gold deposits as well as gold-skarns, and numerous porphyry occurrences.
Ownership
Candorado entered into an option agreement and can earn 100 per-cent of the property subject to a 2 per-cent NSR.
2007 Exploration
The company plans to drill test the copper/gold in soil anomalies beginning in the summer.
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