The best hole in that program, (assays are still pending for the remainder of Phase 2) was a 12 meter intersection grading 0.27 % Molybdenum, confirming the presence of higher grade concentrations within a lower grade disseminated body. (0.1% Molybdenum is equal to 2 lbs. per short ton).
Other highlights from the program include:
Phase I highlights:
• BD-07-
• BD-07-
• BD-07-
Phase II highlights:
Granby Zone:
A single drill hole was designed for the Granby Zone and this drill hole was to twin the 1978 historical percussion hole M-3 which returned 0.176% Mo (0.29% MoS2) over 36.6m. Drill hole BD-07-11encountered altered dioritic rocks through to 122.0m before being shutdown due to extreme blocky conditions and faulted corridors that made drilling too difficult. BD-07-12 was then targeted 10m to the north of the M-3 historical collar and drilled to a depth of 254.0m. Drilling intersected altered hornfels and intercalated dioritic rocks with visible molybdenum observed in quartz veining and within the matrix of the brecciated corridors. Assays are pending.
This area will be revisited in the new year to better delineate the faulted corridor in and around M-3 and BD-07-11 and the associated lineament expressed in the geophysical data.
Alaskite Zone:
Thirteen holes were drilled in the Alaskite Zone during the second phase of drilling between September and December 2007. Drill holes BD-07-08, 07-09, 07-13, 07-14, 07-15, 07-16, 07-17, 07-18, 07-19, and BD-07-20 targeted IP chargeability and resistivity anomalies that showed potential for molybdenum mineralization. Drill holes BD-07-21 and BD-07-23 targeted geophysical magnetic anomalies associated with the alaskite intrusive. A pattern of testing these anomalies was based around historical geophysical data and historical trenching and drilling data as well the favorable assay results returned in drillhole BD-07-01.
All of the above mentioned drill holes encountered variable amounts of visible molybdenum throughout their entire drill lengths, in particular drill holes BD-07-09, BD-07-13, BD-07-15, BD-07-16, BD-07-21 and BD-07-23. Drill holes 07-15 and 07-16 targeted the northwest trending alaskite intrusive that was originally mapped on surface in 1969. Both drill holes encountered >100 meters of mineralized alaskite and favorable quartz veining that extended into the underlain hornfels andesites. These drill holes have continued to confirm the northwest strike to the Alaskite intrusive.
Drill holes 07-09 and 07-13 were drilled ~100m north of BD-07-01 and were testing an IP anomaly outside of the known alaskite intrusive. Both drill holes exhibited moderate to strong fracturing throughout their lengths and moderate quartz veining throughout. Both drill holes were shutdown in a coarse grained intrusive rock. Assays are pending for BD-07-13, BD-07-15 and BD-07-16.
Drill holes BD-07-21 and BD-07-23 were designed as angle holes to better delineate the alaskite intrusive and provide better geological information regarding the width and depth of the alaskite intrusive. BD-07-21 intersected 93 metres of alaskite with favorable veining and molybdenum mineralization, while BD-07-23 intersected 344 metres of alaskite from collar to the end of the hole with very encouraging intense veining and visible molybdenum throughout the entire hole length.
Drill hole BD-07-22 was designed to target the eastern granitic pluton approximately 100 meters east of BD-07-09. The BD-07-09 drill pad was used for this drill hole, and the drill was turned to an azimuth of 090 and drilled at an angle of -45 dip. Hornfels and intrusive were intersected where anticipated, thus adding to the current geological model that this eastern pluton has a strike that mimics the western alaskite intrusive to the southwest.
Mid Zone
Drill hole BD-07-10 was drilled to the northeast of the Alaskite Zone, on the road between the Alaskite Zone and the Granby Zone. It too was situated on a broad geophysical anomaly and encountered molybdenum mineralization hosted in vertical quartz veinlets within a dioritic intrusive below 250 meters.
Summary
An extensive drill program is planned for the new year and drilling will follow up on many of the favorable drill holes to date, in particular the drill holes intersecting the alaskite intrusive in and around drill hole BD-07-15 and BD-07-23. Drilling of the Quartz Breccia Zone will also commence in the new year as road conditions are at their best and follow up on the anomalous areas around BD-07-02 is a priority.
Exploration or mining activities have been conducted on and around the area of the Lone Pine Claims since early in the last century, with a considerable amount of geological, geophysical, and geochemical work having been done on the Property since 1976. A number of different companies have worked on the Property previously, including Canex Aerial Exploration Ltd., Molymines Exploration Limited, Cominco Ltd., Granby Mining Company and Noranda Mining and Exploration Inc. Several programs of diamond and reverse circulation drilling have been conducted on the Property since the mid seventies; the most notable of which was the program in 1978 where a hole drilled in the Quartz Breccia Zone returned 356.3 meters of 0.068% MoS2 from 20.7 to 377 meters which includes 154 meters of 0.088% MoS2 from 181 to 335 meters.
Additionally, a second deeper diamond drill hole drilled during this program, which was drilled in the Alaskite Zone, returned 343.7 meters of 0.06% MoS2 from 3.6 to 352.3 meters, including 101.4 meters of 0.078% MoS2 from 3.6 to 105 meters. Both of the above drill holes were terminated in mineralization. However, for the most part, past programs tended to be fairly limited in scope, with most drilling being confined to probing shallowly beneath known surface mineralization, and no effort has ever been made to determine whether there is any lateral continuity to mineralization noted above, or whether higher grade mineralization exists nearby which correlates to the mineralization noted to occur in these two drill holes which were drilled approximately one kilometer apart.
