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Cassiar Mountains BC

In 2011 Stratton Resources announced that it has executed a definitive purchase agreement to acquire 100% of the Lunar copper project in northern British Columbia from Homegold Resources, a privately held company. The Lunar copper porphyry project consisted of approximately 12,500 hectares of land and is located 90 kilometers north of the Kemess mine (Northgate Minerals) within the Cassiar Mountains northern British Columbia.

The original Lunar purchase agreement required Stratton to pay $70,000 at closing at which time the Lunar claims were conveyed to Stratton. Shares are payable in conjunction with exploration spending on the Property 100,000 shares following $2 million in expenditure, an additional 150,000 shares after a total of $5 million in expenditure and a final payment of 250,000 shares after a total of $10 million in expenditure. The Company was not obligated to make any expenditure on the Property and the agreement is not an option. The Lunar property was subject to a 2.75% NSR royalty, with buyout to 1.5% at any time.

The work Stratton did on the property came up short after market fell apart in 2012

LUNAR 43-101 Report


In result of Stratton's work, Targets 2, 3 & 4 have been identified in the following reports through rock, silt and soil sampling, further supported by geophysics and staked as there appears to be significant porphyry cu/au deposit potential.


Historic Drill Results

Based on the results of the 1971 drilling, DDH W3 was drilled on the western edge of the deposit. Geophysics and sampling support this theory and also indicate a 2nd porphyry lobe (Target 3) 2.5 km southeast of DDH W3 (Target 2)

Target 2

Target 2 is centered over the historical zones, where past geological mapping, and geochemical surveys defined a broad mineralized zone. Five reported holes were also drilling during the various campaigns. Induced polarization surveys were also carried out over a part of the area, however the exact location as geo-referenced maybe dubious. The target is a large magnetic feature in the eastern portion of the historic work area. The
feature is bisected and fenced in by a number of structures readily observed within the magnetic data. Historic chargeability anomalies also appear to be elongated along the aforementioned structures. Extremely anomalous copper geochemistry appears to be contained within this northwest trending corridor, and proximal to north-northwesterly cross cutting structures on the western margin of the magnetic core. Drill hole 3 which is the closest drill hole to the feature yielded 53.95 meters of 0.23% copper and 0.3 g/t gold. No discernable features are observed within the radiometrics.


Target 3

Target 3 is some 2.5 kilometres to the southeast of Target 2, and lies within the same northwesterly structural corridor. The intense magnetic high is situated beneath a flat topped hill, where the 2012 prospecting programs recovered a number of highly anomalous grab samples with up to 10.6% copper and 5.37 g/t gold. A more vintage 2 line copper soil anomaly is also immediately to the northwest, downslope further validating this target. This anomaly is
also coincident with a low thorium /potassium response, potentially indicative of alteration.

Target 4

Target 4 continues to be encompassed by the dominant northwesterly trend structures. Two distinct magnetic features associated with the height of land can be observed. Anomaly A in the west appears to be more intense and extending to depth, whereas Anomaly B seems to be a weaker and, shallower slightly below surface. Elevated geochemistry from grab samples with values up to 1.2% copper and 0.5 g/t gold were taken proximal, and potential associated with anomaly B. The drainage immediately to the northwest, and separating Target 3 and 4 also provided a number of anomalous stream silt samples.




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