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MAC PropertyAdvanced Staged
AVAILABLE FOR SALE OR
1.) Large 36,350 acres (14,711+ ha) property, with core claims in good standing
until 2023, advanced stage porphyry cu/mo deposit with additional
2.) Two additional porphyry zones remain
untested with several additional targets having been identified
through geochem & geophysics
3.) Multiple deposit
potential for Cu/ Mo porphyry's with a recent Nickel-Iron Alloy (Awaruite)
discovery on the property
4.) Main (Camp) Zone includes an initial 248 million tonne
43-101 Resource Estimate with much room to increase tonnage and
upgrade resources through step-out, definition drilling
Excellent infrastructure with good road access suitable
for year-round drilling operations located in the Ft. St. James, BC
*In 2013 Stratton Resources Inc. was unable to continue to meet payment
and work obligations due to adverse market conditions was forced to drop their Option to acquire a 90% interest in the property.
"Regretfully, the market conditions do not allow us to continue with the project."
approximately $15M dollars
MAC - MOLYBDENUM / COPPER DEPOSIT
Advanced Stage Molybdenum / Copper Porphyry
43-101 Resource Estimate
MINFILE No 093K 097
The MAC Project is a 100% wholly-owned
36,350+ acre (14,711 ha), Advanced-Stage molybdenum-copper porphyry exploration project
located approximately 80 kilometers northwest of the town of Fort St. James, BC and is situated in a prolific porphyry region 40 kilometers west of two former producing copper/moly mines, Bell and Granisle, 90 kilometers north of the Endako molybdenum mine, and 120 kilometers southwest Mt. Milligan mine.
Discoveries of AWARUITE a
naturally occurring nickel-iron alloy (Ni2-3Fe) have also been made on
the MAC Property.
A 2011 geophysical data analysis and
interpretative assessment of the MAC Property ZTEM electromagnetic and
magnetic airborne survey data was completed by Condor in early 2012
(Giles 2012). This work presents evidence for an effective approximately
5 km westward or left-lateral fault off-set of the northern strike
extent of the serpentinized peridotite host to the Decar awaruite
deposit. From regional and property airborne magnetic data, this shift
results in some 15 km strike length of prospective ultramafic rocks
lying in the north-west portion of the MAC property, north of the Camp
zone deposit. Prospecting and sampling to locate and assess exposures of
these ultramafic rocks was completed along logging road cuts, stream
banks and ridges. In total some twenty exposures of potentially
nickel-alloy bearing outcrops were located. From this 13 samples were
taken and 7 were submitted for detailed analysis.
The initial 7
samples returned an averaged of 0.38% nickel, 33% iron and 1.2% chromium
(Davis-tube separated magnetic fractions). It is clear the MAC
Property also hosts the potential for a world-class Decar-type
nickel-iron alloy deposit (Awaruite).
Decar - Awaruite Property Link
MAC Awaruite Locations Map
Copper Molybdenum Porphyry Deposit
43-101 Initial Resource Estimate
Contained Metal (Indicated + Inferred)
Million lbs. Molybdenum
351.11 Million lbs. Copper
tonnes (Indicated + Inferred)
||Contained Metal - Cu eq
|Inferred Mineral Resource
||Contained Metal - Cu eq
High probability exists to increase the current resource tonnage through the delineation of the main (Camp) Zone along with drilling of the Pond & Peak Zones which both have remained as primary exploration targets with very little drilling having been done in the past. The intrusive sources for both zones were never located.
On April 24, 2012, an Initial National Instrument 43-101 Initial Resource Estimate for the CAMP ZONE was released containing:
70.4 million tonnes of Indicated Resource grading 0.063% molybdenum (“Mo”) and 0.10% copper (“Cu”),
Including a near-surface higher-grade Indicated Resource of 15.3 million tonnes grading 0.104% Mo and 0.16% Cu.
An Inferred Resource of 177.9 million tonnes grading 0.042% Mo and 0.05% Cu for a total of 248 million tonnes combined in the Indicated & Inferred categories.
Further drill testing is required to determine the extent of additional resources at depth and along strike, as well as to upgrade Inferred Resources to Indicated Resources. The resources were calculated using a cut-off grade of 0.035% Mo and full details of the resource estimate are available through links within this website.
RESOURCE ESTIMATE HIGHLIGHTS
Indicated Resources of 70.4 million tonnes at 0.063% Molybdenum (“Mo”) and 0.10% Copper (“Cu”) or a grade of 0.352% Copper Equivalent (“Cu equivalent”) at a cut-off grade of 0.035% Mo.
Contained within the Indicated Resource estimate is a high-grade, near surface “starter” zone of 15.3 million tonnes at 0.104% Mo and 0.16% Cu (0.576% Cu equivalent) at a cut-off grade of 0.035% Mo.
Inferred Resources of 177.9 million tonnes at 0.042% Mo and 0.05% Cu (0.22% Cu equivalent) at a cut-off grade of 0.035% Mo.
Contained metal of 546 million pounds of Copper equivalent in Indicated Resources and 855 million pounds of copper equivalent in Inferred Resources.
(1.401 Billion lb. Cu)
Numerous combined electro-magnetic (“EM”) and magnetic features that may reflect similar geological aspects of the Camp Zone have been identified within close proximity to the Camp Zone and warrant soil geochemistry, geologic mapping and reconnaissance drill testing.
"Based on only 22,000 meters of drilling on the Camp Zone there is evidence of a bulk tonnage porphyry deposit with a zone of high-grade material at or near surface that would be ideal for a starter-pit to feed a mining operation.”
Cross-Section of Camp Zone (facing west) with 0.08% Mo Shell (red) within Global Indicated Resource (light blue)
A high-grade starter zone within the Indicated Mineral Resource was identified using Leapfrog® modeling software seen in this MAC Project 43-101 Resource Estimate report.
Upon completion of the 2011 drilling program Giroux Consultants Ltd. was contracted to produce a NI 43-101 resource estimation for the Camp Zone. A total of 104 historic and current diamond drill holes were used in the resource estimate. The grade distributions for Mo and Cu in the historic holes were compared to the holes drilled by Stratton and no bias was identified. A three-dimensional model was built by Stratton geologists to outline the Quartz Monzonite intrusive and several post-mineral dykes. The remainder of the model consisted of hornfelsed volcanic. Within each rock type cap levels were established from the grade distributions. Variograms for Mo and Cu within volcanics and intrusives were produced from 5 m composites to quantify the grade continuity. Grades for Mo and Cu were interpolated into 10 x 10 x 5 meter blocks by Ordinary Kriging. Estimated blocks were classified as Indicated or Inferred based on the grade continuity and density of drilling. The summary table below highlights a cut-off of 0.035% Mo as a possible open pit cut-off, although at this time no economic evaluation has been completed. A cut-off grade closer to 0.020% is a target for production.
In 2012, a soil geochemical sampling program done in the area of the Camp Zone has highlighted a 1200m long strike length of a quartz-monzonite intrusive body east margin that occurs at the Peak Zone, on strike to the south-southeast of the Camp zone. The near ore-grade intercept in drill hole 95-13 lies along the trend of this anomalous soil geochemistry. Additional drilling is warranted to fully test the intrusive contact zone west, south and north of hole 95-13. Eight - 250m long core-holes have been proposed.
The Peak Zone History
In 1995 a single hole was drilled into the Peak Zone (95-13) which
returned 0.012% Mo and 0.059% Cu over the entire 286.5 metre
length of core including a central intersection of 138 metres from 76.0m - 214.0m contained 0.010% Mo and 0.086% Cu.
The conclusion: "Drill-hole 95-13 may have been drilled too high in the mineralized system, intersecting the outer most shell of mineralization above a buried intrusion". ARIS 24319
"The Peak Zone as defined by geophysics and geology, has the potential of hosting greater than 150 million tonnes
of reserves." (Spokane Resources, May 1996).
3or 4 additional holes were
also drilled to test the Peak Zone. The reports and drill core from this
drilling have not been located.
The Pond Zone History
Is the largest zone of the three zones
(at least 2 km long x 2 km wide). In 1995, four of six holes drilled into the Pond Zone returned the following results:
1.) - 0.024% Molybdenum and 0.016% Copper over 196.9m width (Hole 95-18)
2.) - 0.022% Mo and 0.016% Cu over 185.3m width (Hole 95-21)
3.) - 0.024% Mo and 0.018% Cu over 176.8m width (Hole 95-22)
4.) - 0.020% Mo and 0.016% Cu over 231.5m width, including 52m width of 0.048% Mo and 0.029% Cu (Hole 95-23)
Condor Geophysical Report indicated
the possible location of the intrusive source for the Pond Zone approximately one km west of the historic drill locations. If
the interpretation is correct, the Pond Zone could prove-out to be much
larger than the Camp Zone. A 6 - 8 hole drill program should be carried out
at first opportunity.
Proposed Drill Hole Locations
(PDH) Previous drill hole
location, result and orientation at the highly prospective Peak Zone
· Completing delineation drilling in the Camp Zone, including drilling across the quartz monzonite stock between the East and Northwest contact zones.
· Expanding drilling coverage in the Camp Zone to step-out and off-set drilling of unconstrained intercepts, particularly to the South and to depth on both the East and Northwest contact zones.
· Completing additional drilling near the Camp Zone of the Peak and Pond Zones as well as the follow up, additional prospecting and mapping and prioritizing of all newly identified geophysical targets.
- 10,067 meters drilled in 44 holes in 2011, totaling 22,238 meters to-date in 104 holes.
- 43-101 Initial Resource Estimate with clear potential to significantly increase current tonnage and grade.
- Additional Resources to be drilled in two confirmed zones - "Historic drilling in the Pond and Peak Zones has intersected similar styles of mineralization in hornfelsed volcanic rocks as described for the Camp Zone as follows:
- "The Pond Zone, which was tested by six diamond drill holes in late 1995, is the largest zone in the porphyry system. It is at least 2km long and 2 km wide. Diamond drilling in 1995 intersected massive zones of silica alteration, significant amounts of molybdenum and lesser amounts of copper mineralization. This zone remains as a prime exploration target..."
- *No work has been done on the Pond Zone since 1995, and there now appears
to be important information to be gained regarding a possible intrusive
source location from information within recently released Condor Geophysical Report
- 1995 Drilling returned: 0.024% molybdenum and 0.016% copper across 196.9m (95-18), 0.024% Mo and 0.018% Cu over 176.8m (95-22) as well as 0.020 Mo and 0.016 Cu over 231.5m which included a section of 52m at 0.048 Mo and 0.029% Cu (95-23).
- Peak Zone - drilling returned
near-ore grades of 0.012% molybdenum and 0.059% copper over 286.5 meters in hole 95-13 and a 2012 sampling program has identified a 1200m strike length of anomalous moly and copper and an 8 x (250m) drill-hole program has been recommended by the previous operator, although it is my opinion that a 12-hole program would better define the area based on the anomalous combined Cu-Mo soil geochemistry in ARIS 33690.
- A large part of the intent of Stratton's 2011 drill program was to duplicate the historic drill holes so that they could be included into a 43-101 Resource Estimate. Stratton for whatever reason decided to drill many holes in the opposite direction to the original drill-holes. In result, many returned lesser grades as compared to the same historic holes / locations. The point being, in general, many of Stratton's holes did not return as good of grades as the historic holes and in result, the 43-101
Resource Estimate is under-stated to an undetermined extent.
In-fill drilling will eventually sort this out.
- High discovery potential remains to locate additional porphyry deposits on the 25,195+ ha (57,339 acre) property with as many as 16 newly identified Magnetic & 13 EM TZ targets having been identified by comparing similar target responses taken from Bell Copper, Granisle, Morrison & Babine porphyry deposits in ARIS 33314.
- Excellent First Nations Bands & Individuals
- Manageable environmental-impact area
- Excellent infrastructure with good road access suitable for year-round drilling operations
- Core claims in good standing until 2023
- There may be a remote possibility to fast-track MAC to production if
an agreement could be reached with a neighboring miner to ship & process
ore at their 55,000 tonne/ day facility 90 km to the south of MAC.
- Hydro Power is located approximately 40 km away (BC Hydro's IL390 - 168 KV Power-line) at the closed Granisle (Babine) mine (see maps below)
DDH MC11-03 Drill Core
REPORTS & LINKS
RESULTS FROM 7 HOLES DRILLED BY SPOKANE RESOURCES IN 1996
GALLERYMAC - GALLERY 1
MAC - GALLERY 2
Assessment Report Links
|Report Number||Year||Latitude||Longitude||Work Cost||1986 Dollars||1992 Dollars||2002 Dollars|
MAC CLAIMS MAPS
BC Hydro Transmission Area Local Map
METAL VALUES AT VARIOUS CUT-OFFS
(Indicated & Inferred Resources combined)
@ 0.035% Grade Cut-off
(Initial Resource Estimate)
Molybdenum = 262,520,000 lbs = $3.93 Billion @ $14.97 USD
Copper = 351,310,000 lbs Cu = 1.07 Billion @ $3.05 USD
RECOVERABLE METAL VALUE = 5.0 Billion USD
3 - YEAR TRAILING AVERAGE
Copper $3.75 / lb
Molybdenum $14.50 / lb
@ 0.030% Grade Cut-off (same as Morrison Deposit)
= 298,340,000 lbs Mo
= 407,658,000 lbs Cu
METAL VALUE (Trailing Average)
Comparable Copper / Molybdenum
MAC has an (Mo eq.) grade of 0.088% Indicated on 70,360,000 tonnes and 0.055% Mo Inferred on 178,000,000 tonnes for an average combined grade of 0.064% Mo as compared to the Thompson Creek Mine at 0.075% Mo and Endako at 0.046% Mo.
As is, MAC could produce the equivalent of 15,000,000 lbs. of Molybdenum (77% Mo + 23% Cu) per year with a 30,000 tonne/day facility and
approximate 22.6 year mine life. The target production cost per pound of Molybdenum would be around $6.00 / lb.
MAC's Current Resource = approximately 350 million lbs. (Mo eq.) (Indicated + Inferred) @0.035% cut-off.
MAC's Current Tonnage = 248,000,000 tonnes (Indicated + Inferred) ⁄ 30,000 tonnes / day = 22.64 year mine life.
MAC's Current Tonnage = 248,000,000 tonnes (Indicated + Inferred) ⁄ 45,000 tonnes / day = 15 year mine life producing the
equivalent of approximately 23,000,000 lb. Mo / year
MAC's current resource tonnage has
potential to increase as much as 2x - 4x upon the completion of all exploration & drilling.
Using a .020% cut-off MAC runs 448,050,000 million tonnes with an average combined equivalent grade of 0.059%. Employing a 55,000 tonne / day mill (same as Endako), MAC could produce approximately 26,000,000 lbs Mo Eq. / year with a 17+ year mine life. Upon
delineation of the Camp Zone and drilling of the Pond and Peak Zones, MAC's mine life should increase substantially.
MAC TONNAGE & GRADE CHARTS
Select Regional Geochemical Survey Report anomalies (RGS) on the
Also see the Geophysical Data and Maps in ARIS 333144A and 33314B to correlate these anomalies
Northeastern Claim Area
East of the Camp Zone
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