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Ox Lake Project
Gold Reach Resources acquired 100% of 14 claims totalling 1,330 acres known as the "Ox Lake Mineral Project". The Ox lake project is located just north of the Seel and Damuscus projects about 8 km east of the producing Huckleberry Mine.
Project Overview
The Ox Lake occurrence was identified in 1968 by a regional prospecting program conducted by Silver Standard Mines Ltd and American Smelting and Refining Company. The deposit is located in an area of subdued topography with forest cover. The Ox Lake deposit is a crescent-shaped zone of disseminated and vein-controlled pyrite, chalcopyrite and molybdenite in biotite hornfels andesitic fragmental rocks.
Initial drilling in 1968 defined a pre-NI 43-101 reserve of 51 million tons grading 0.528% Cu copper equivalent (these figures are not NI 43-101 compliant and historic in nature and should not be relied upon).
In 2007, a winter drilling program revealed low (virtually zero) levels of arsenic, antimony, and mercury, thus producing potential for a very "clean" concentrate. Additionally high levels of calcium carbonate (almost equal to sulphur) were found in the mineralized sections. Although acid-base accounting has not been carried out, these findings point to the potential to have non-acid generating tailings produced from milling the ore. Both of these aspects make the Ox Lake project desirable from an environmental point of view. In 2008, Wardrop Engineering completed a 43-101 compliant resource estimate for Ox containing 16 million tonnes grading 0.3% Cu and 0.04% Mo. Surface exploration in 2011 identified a copper in soil anomaly that is over 800m long by 250m wide that coincides with a historic IPchargeability anomaly. This anomaly sits north of the drilled area at Ox and highlights the potential to expand the zone.
Property Status The company is planning a significant surface exploration and drilling program at Ox during 2012 to evaluate the potential to increase the Ox resource.
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