The Red Bird molybdenum property consists of three mineral claims situated in the Skeena Mining Division of west central British Columbia 133 kilometers southwest of Burns Lake and 105 kilometers north of Bella Coola. The property covers an area of 444.49 hectares centered on latitude 53°17’44” North and longitude 127°00’34” West in NTS map area 93E/6.
The Company presently holds a 25% undivided interest in the Red Bird Property. The Red Bird Property represents an advanced molybdenum, copper and rhenium porphyry target. The Red Bird Property comprises 3 tenures for a total of 444.49 ha. All three of the tenures expire on June 30, 2026. There is no further work required to keep these tenures in good standing.
A 2007 drill program was carried out by Volt Carbon (formerly Torch River) under the supervision of QP Andris A Kikauka, P Geo. The program consisted of the completion of 10 core holes for an aggregate length of 2,645 metres during the period July – September, 2007. The resource estimation was completed by G.H. Giroux, P.Eng. who visited the property in August 2007. A technical report was been prepared in compliance with the requirements of National Instrument 43-101 and Form 43-101F1 and was intended to be used as supporting documentation filed with the Alberta Securities Commission, the British Columbia Securities Commission and the TSX Venture Exchange. Information used in the preparation of this report includes a number of internal company reports prepared by Craigmont Mines Limited detailing diamond drilling results and a preliminary economic analysis of the subject property completed in 1979 and 1980.
The 2007 drill campaign resulted in a 103% increase in indicated tonnes at slightly lower grade at a 0.03% Mo cutoff. The total resource (indicated and inferred) stands at 195.5 million lbs of Molybdenum.