Crowrea & Empress Properties – British Columbia, Canada (molybdenum)


Property Overview


TARGET:   MOLYBDENUM

Location
The Empress is a 5,833 hectare property situated just 15 kilometers south of Brenda Mines, a former copper-moly producer near Summerland.

Ownership
This project is a 50/50 joint venture with Goldrea Resources Corp. (GOR:TSX.V).

Geology
The molybdenite mineralization at the Crowrea property is hosted in a silica flooded fine to medium-grained quartz monzonite, which has intruded a  megacrystic quartz monzonite. Mineralization occurs as flakes, blebs and occasionally in veinlets and fracture coatings. The molybdenite is hosted near  or on the hanging wall of a dike-like body that strikes northwest and dips steeply northeast at 50 to 65 degrees. Here the dike is 20 metres to 30 metres thick.

During summer 2008, a drilling program consisting of 19 BQTW drill holes totaling 3,493 meters (11,429 feet) was drilled in the central portion of a 730 x 360 meter area of mineralization (molybdenum, copper and gold).  A NI43-101 Resource Study was completed by Norm Tribe & Associates Ltd. Which quotes:

   0.02% Mo cut-off     0.05% Mo Cut-off
Indicated    3,996,155 tonnes  @ 0.0605% Mo     1,703,000 tonnes  @ 0.094% Mo
Inferred    3,498,000 tonnes  @ 0.0619% Mo     1,657,498 tonnes  @ 0.094% Mo

 

Property Background


January 3, 2008
Released results of diamond drilling from 9 holes ranging from 156.7 to 260.6 meters in the Empress porphyry project. Geochemical analysis results from the first 3 drill holes include DDH07-EMP-1 with 18m from 3m at 0.077% Mo, including 6m from 147m at 0.077% Mo. In addition at DDH07-EMP-2 intersected 24m from 3m at 0.080% Mo and at DDH07-EMP-3 returned 21m from 3m depth at 0.064%.

September 24, 2007
Announced drill results. Highlights include hole DDH07-05 which intersected 3m @0.146% Mo from 50.6m

August 7, 2007
Announced that it has completed the first phase of diamond drilling. The 1st phase consisted of 10 holes totaling 712m.

April 17, 2007
Announced the acquisition of the HP molybdenum claims.

April 3, 2007
Reported that its diamond drill program was ready to begin. Phase I drilling on the Crowrea is designed to infill along the potential strike of the dike 450 metres southeast toward the “Noranda showing” and 650 metres to the Swamp anomaly. The dike was identified by drilling in 2005, containing grades up to 0.292 per cent Mo over 10.6 metres, with a potential strike length over 1,100 metres.

April 3, 2007
Announced that diamond drilling exploration programs were being prepared. Phase I drilling on the Crowrea was designed to infill along the potential strike of the dyke 450 meters southeast towards the “Noranda showing” and 650 meters to the “Swamp anomaly”.

March 22, 2007
Reported an update on the exploration program.

March 3, 2007
Announced the commencement of its phase I drilling, ddesigned to infill along the potential strike of the dike 450 metres southeast toward the Noranda showing and 650 metres to the Swamp anomaly.

January 31, 2007
Reported that no exploration was done on the property during the quarter. A diamond drill program testing the possibility of a controlled structural trend over 1,100 meters on the Crowrea Molybdenum property located west of Summerland was scheduled to begin in early fall of 2007.

October 5, 2005
Announced the results of a diamond drill program. Highlights from the drill program include: 10.6 m grading 0.292% Mo (from 10.6 m) in hole 05-06; 3.7 m grading 0.149% Mo (from 5.9 m) in hole 05-10; and 2.4 m grading 0.275% Mo (from 4.9 m) in hole 05-15. All the released holes were drilled within a broader zone of low moly values and the higher grade values will be checked for MoS2. The identified composite “dyke” is open along strike and down-dip. Projecting to the southeast, the “dyke” intersects the “Noranda zone” approximately 450 m from the “Discovery zone”. The structure is also open to the northwest.

October 5, 2005
Molycor Gold and Goldrea Resources have announced the results of a diamond drill program at the CrowRea Molybdenum Property located in British Columbia, Canada. Highlights from the drill program include: 10.6 m grading 0.292% Mo (from 10.6 m) in hole 05-06; 3.7 m grading 0.149% Mo (from 5.9 m) in hole 05-10; and 2.4 m grading 0.275% Mo (from 4.9 m) in hole 05-15. All the released holes were drilled within a broader zone of low moly values and the higher grade values will be checked for MoS2. The identified composite “dyke” is open along strike and down-dip.

September 30, 2005
Diamond drilling program on the property has been completed. The program consisted of 26 vertical diamond drill holes, approximately 35 metres in depth, at 10-metre centres in the “Discovery zone.” Mineralization varies in width up to 40 metres, north/south, and 70 metres, east/west, and is open to the west. Assaying is being done by EcoTech labs in Kamloops, B.C., and is currently continuing. Four holes were also completed on the Noranda zone approximately 250 metres to the east. Assays from previous drilling include angle hole 95-03-09, which returned 39 metres (128 feet) of 0.273 per cent MoS2 (0.164 per cent Mo).

August 31, 2005
Drill collared favorable siliceous quartz monzonite at surface. The first 12 of 14 holes have intersected favorable molybdenum bearing phases of quartz monzonite. Two holes have hit mega cryst on the north and south boundaries of the structure.

July 14, 2005
A diamond drilling program entailing approximately 1,500 m in 40 drill holes has commenced. Molycor and Verdstone acquired the HP claims in 1995 and in 1997 carried out geochemical and geophysical surveys adding more molybdenum soils anomalies to the ones previously identified by Cominco Inc. The property was subsequently dropped by the Companies due to the low price of moly. Cominco Inc. originally acquired the claims in 1979 and performed soil and geochemical surveys analyzing for copper, molybdenum, zinc, lead identifying several molybdenum soils anomalies. Cominco drilled in 1980 with two percussion holes to a depth of 195 meters (639.6 ft) encountering a maximum grade of up to 0.091% Mo near the bottom of hole # PDH-HP-80-1, followed by six percussion holes totaling 588.3 meters (1929.6 ft) which returned low values in 1981. (BC Assessment report dated Oct, 1997) Cominco Inc. originally acquired the claims in 1979, and performed soil and geochemical surveys analyzing for copper, molybdenum, zinc and lead, identifying several molybdenum soils anomalies. Cominco drilled in 1980 with two percussion holes to a depth of 195 metres encountering a maximum grade of up to 0.091% Mo near the bottom of hole No. PDH-HP-80-1, followed by six percussion holes totalling 588.3 metres, which returned low values in 1981. Anaconda Canada Explorations Ltd. carried out work between 1968 and 1970 consisting of geological mapping, soil and silt sampling, IP, ground magnetometer and refraction seismic surveys, trenching, and diamond drilling. In 1981, the exploration program consisted of 3,428 metres of percussion drilling in 42 holes with grades up to 0.05 per cent Mo over 48 metres in PDH No. 9.