 |
 |
|  | |  Introduction
The Okeover gold-molybdenum porphyry project is located in southern British Columbia on tidewater north of Powell River, British Columbia. Status
Prophecy Resources Ltd. may earn a 60% interest in the property by completing $1,000,000 in exploration. Geology
N.C. Carter, PhD, P.Eng. has recently calculated an inferred mineral resource of 86.8 million tones grading 0.31% copper and 0.014% MoS2 at a 0.20% copper cut off for the North Lake Zone. This resource currently has a copper equivalent grade of 0.44% assuming a price of $2.00 a pound for copper and $30 a pound for molybdenum. The 2007 drill program was successful in that the first four holes encountered strong mineralization and have confirmed that the North Lake Zone is open for expansion in several directions including to depth. In July, 2007 results from the first four drill holes of a seven hole program recently completed at the Okeover copper-molybdenum property. The drill holes reported here were designed to expand the current resources of the North Lake Zone. Hole OK-07-04, drilled near the western boundary of the North Lake Zone, intersected an aggregate intercept of 76 metres grading 0.34% copper and 0.020% MoS2, including an intercept of 19 metres grading 0.42% copper and 0.020% MoS2. Hole OK-07-04 was drilled adjacent to and beneath a hole completed in 1972 with much of the mineralized interval, including the higher grade section, occurring beneath the 1972 hole, which bottomed at a depth of 97 metres. Hole OK-07-02, drilled 350 metres to the east of the area corresponding to the North Lake resource, intersected 23 metres grading 0.24% copper and 0.031% MoS2 at the bottom of the hole, establishing that mineralization is very much open ended to the east and suggesting that the North Lake Zone may be considerably larger than the 2006 estimate. In addition, molybdenum grades appear to be increasing to the east. Another area of the Okeover property is the South Breccia area which is a hydrothermal breccia first recognized in 1979. Between 1966 and 1977, seven corporations, including Noranda, Falconbridge and Asarco Exploration completed 14,000 metres of diamond drilling at Okeover. In 1979, two years following these campaigns, logging activities exposed the south Breccia Zone approximately 3.5 kilometres south of the North Lake Zone. In 1979, Aquarius Resources Ltd. completed three holes in this then newly discovered area (205 metres in total) with results which included 1.49% Copper over 9 metres in hole 79-2 and 0.49% Copper over 21 metres in hole 79-3. In 1996, Canquest Resource Corp. drilled a single 154 metre deep hole with the strongest mineralization in that hole (0.21% Cu) occurring at the bottom. A review of this drill hole indicates that it may have stopped short (to the east) of the South Breccia Zone. Geological mapping of the area peripheral to the South Breccia discovery outcrop indicates that brecciation and silicification extend over an area of at least 300 metres by 600 metres, offering substantial potential for discovery. Current Status
In the 2008 program, six to eight holes totaling 1,500 metres are planned. On completion of this program, Prophecy will have satisfied its work obligations to earn its 60% interest. Reports
Maps
Photos
| | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
)
)
)
)
)
)
)
)
)
| Home Corporate Projects Investors Qwikreport Contact Us | | | |
|  | | ||