Previous to Cascadero acquiring the property it had been subject to soil and rock geochemistry, airborne and ground geophysics and geological mapping since its discovery in 1990. The area is largely overburden covered by prospecting and mapping to the north and west has established that the prospect is likely underlain by intrusive rocks belonging to the Black Lake suite. This work confirms the potential of Pine North as a high-priority copper-gold porphyry prospect. The prospect has never been drilled.
The prospect is probably the eastern portion of a >6,000 metre mineralized zone consisting of the Pine West (pyrite), Ryan Creek (zinc dominant) and the Pine North copper-gold soil and coincident IP anomaly on the north side of the Finlay Valley. This mineralized zone is situated directly across from the Pine-Tree-Fin deposits, also identified over a >6,000 metre strike length by geochemistry, IP geophysics and core drilling, on the south side of the Finlay Valley. The Pine-Tree-Fin deposits have been subject to several programs of drilling and each has produced significant intervals of copper-gold and copper-moly mineralization. However, the deposits are cut by wide unmineralized dykes that compromise deposit integrity.
In 2005, the Company completed 4 core holes on the Ryan Creek showing that is the central portion of the mineralized zone. All core holes encountered minor narrow dykes within long intervals of low-grade Cu-Pb-Zn-Au mineralization that is zinc dominant, such as 0.37% Zn over 178 metres in RC-05-01.
The MMI geochemical program suggests that Pine West-Ryan Creek-Pine North mineralized system is copper dominant to the east in the area of the Pine North coincident geochemical and geophysical anomalies. This zonation of mineralization conforms to an accepted deposit model that describes and explains the formation of porphyry metal deposits.
The Company intends to conduct a 4 core hole (1,200 metre) reconnaissance style drill program on Pine North in the 2007 field season.
The Toodoggone is well endowed with copper-gold mineralized porphyries and several prospects and showings have been drilled that exhibit copper-gold and copper-molybdenum mineralization. The intrusions are nested throughout the Toodoggone volcanic arc, an area of 90 kms north south by 40 kms east west. Age dating has determined that the mineralized intrusions range in age from about 196 to 219 million years old. Canada's second largest mine, the 55,000 tonne per day Kemess South copper-gold mine, operated by Northgate Minerals (NGX-T), is about 29 kms southwest and the developed Kemess North is about 23 kms southwest of Pine North.
The Pine North prospect is subject to a 3% NSR that can be reduced to 1% on base and 1.5% on precious metals by way of cash payments.
MMI assaying was conducted by SGS Laboratories of Toronto. Fieldwork, data compilation and interpretation were under the supervision of Dave Kuran, P.Geo who is the Qualified Person for the Company.
Chief Executive Officer
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During the 2006 field season, the Company completed a 49 sample MMI geochemical sampling program between Ryan Creek to the western edge of the Pine North prospect, a distance of 2,400 metres. The MMI data further defined Pine North as a large-scale copper-gold porphyry prospect. The property is in the Toodoggone Region in north central BC and is 100% owned by Cascadero.