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Iron Lake

Introduction

The 7,116 hectare Iron Lake property is located 45 kilometres northeast of 100 Mile House, BC. It has been owned outright by Eastfield, subject to a 1.5% royalty, since 2000.

Status

Iron Lake was optioned to Cobre Exploration Corp. in June 2008 who can earn a 60-per-cent interest in Iron Lake claims by completing $1.5-million in exploration ($100,000 completed), making payments to Eastfield of $175,000 ($10,000 paid), issuing 600,000 shares to Eastfield (issued), issuing 66,666 post consolidated shares to Eastfield (33,333 issued) and issuing shares with a value of $100,000 to Eastfield before June 1, 2013.

Geology

The Iron Lake property is underlain by a 5.0 by 7.0 km magnetic high that is interpreted as outlining a large multiphase ultramafic intrusive complex. Mapping of the limited outcrop has shown to include olivine pyroxenite, diorite, peridotite and pegmatitic phases. Geochemical sampling to date has covered less than half of this complex and has outlined several large anomalies for copper, platinum and palladium. At least three of these anomalies are 1.0 km in length and follow-up exploration by drilling has only been carried out on the most southeasterly anomaly where a massive sulphide body has been discovered coincident with an airborne EM anomaly.

In 2000, disseminated copper-gold-platinum group mineralization hosted in several pieces of olivine pyroxenite were located. An average of seven samples of the mineralized rubble returned a value of 0.72% copper, 0.68g/t gold, 0.31 g/t Pd+Pd along with anomalous values in nickel. The source of the mineralized olivine pyroxenite, which is a common rock type on the property, has not yet been located but will be an important objective of the 2008 program.

In 2004, the Iron Lake property was flown with high resolution magnetic and multi channel electromagnetic instruments resulting in the identification of a number of conductive anomalies. In 2005, diamond drill testing of two of these conductors intersected massive sulphides in two of four holes with hole 05-I-02 returning six metres of massive sulphide mineralization. The pyrrhotite dominant massive sulphide encountered contained lesser chalcopyrite and is highly anomalous in nickel and cobalt (± 0.1% Ni and 0.12% Co in a number of samples).

In 2005 four drill holes were completed at Iron Lake. Hole 05-IL-2 intersected 1.4 metres of massive sulphide grading 0.66% copper and 0.13% cobalt while hole 05-IL-3 intersected a thicker sequence of the massive sulphide mineralization (6.0 metres) with the higher grade portion being 1.4 metres grading 0.95% copper, 0.10% nickel and 0.08% cobalt.

Iron Lake represents one of the very few known copper-gold-Platinum Group Metals-nickel occurrences in British Columbia.

Access

Much of the area of the claims have been clearcut logged resulting in the establishment of excellent access to the property. The ground is typical of interior British Columbia and consists of Douglas fir, pine and spruce dominant forests occurring on a flat to undulating and moderately hilly landscape.

Maps

Iron Lake - Regional Geology
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Iron Lake - Compilation
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Iron Lake - Soil Geochemistry
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Photos

Iron Lake - Drilling in 2003
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Show image 'Iron Lake Massive Sulphide' in New Window

Iron Lake Massive Sulphide
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Reports

Ironlake-report.pdf PDF

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This page was created on Wed Sep 8, 2010 at 1:13:40 AM Pacific Time.