Highlights

  • Located in British Columbia, road accessible and close to infrastructure
  • Three Cu-Au-Mo porphyry systems strategically located adjacent to the operating Huckleberry Mine
  • Large NI 43-101 compliant pit constrained resource base that is open for expansion
  • Near surface high grade mineralization at the East Seel deposit, hole 148 returned 146.3 metres grading 0.94% copper equivalent
  • The recently discovered West Seel deposit is open for expansion, hole 118 intersected 537 metres grading 0.65% copper equivalent
  • Multiple exploration targets exist on the large 67,937 hectare property

 Ootsa Project location map

The Ootsa Project is 120 kilometres from the town of Houston, BC, and is located on the south side of Tahtsa Reach with good all weather road access.   A barge on cables is used to get vehicles and heavy equipment across Tahtsa Reach.   The claims contain a network of logging roads providing excellent road access throughout the central and eastern portion of the claim block.  The Ootsa Property is adjacent to the operating Huckleberry Porphyry Cu-Mo Mine which is owned by a consortium of Japanese companies and Imperial Metals Corporation.

Claim Map of the Ootsa Property Showing the Location of Known Mineralized Zones

The Ootsa Property is supported by a 35-man exploration camp.  Exploration typically takes place from May to November each year, but year round exploration is possible.  To date Gold Reach has drilled 134,878 metres of core on the project in 347 holes.

Left:  Ootsa exploration camp. Right: drilling at Ootsa

Total resources for the Ootsa Property are summarized in the table below and are taken from recent resource updates conducted on the Seel and Ox deposits (dated January 13, 2014 for Ox and February 18, 2014 for Seel).  The table highlights the large pit constrained resource base that now occurs on the Ootsa Property within the Seel and Ox deposits.  The 2013 drill program resulted in 37.62 million tonnes at Ox being advanced to the measured and indicated categories, and at Seel 48.58 million tonnes were added to the measured and indicated categories, providing a very large increase in confidence in the deposits.  The West Seel deposit remains open for expansion near the surface and at depth. 

Summary of Open Pit Constrained Resources on the Ootsa Property


Deposit
Class
Cut-off
CuEq
Tonnes
(x1000)
Grade  > Cut-off
Cu (%)
Au (g/t)
Mo (%)
Ag (g/t)
CuEq (%)
Seel 2014 M&I 0.20 116,340 0.21 0.16 0.017 2.56 0.38
Ox 2014 M&I 0.20 37,620 0.21 0.04 0.027 1.53 0.33
Total M&I 0.20 153,960          
                 
Seel 2014 Inferred 0.20 211,390 0.18 0.12 0.021 2.29 0.34
Ox 2014 Inferred 0.20 12,180 0.18 0.03 0.021 1.31 0.28
Total Inferred 0.20 223,570          
                 
Seel 2014 M&I 0.40 39,780 0.29 0.25 0.024 3.14 0.54
Ox 2014 M&I 0.40 7,710 0.31 0.05 0.035 2.10 0.47
Total Indicated 0.40 47,490          
                 
Seel 2014 Inferred 0.40 51,640 0.26 0.19 0.031 2.80 0.49
Ox 2014 Inferred 0.40 370 0.30 0.04 0.033 1.86 0.44
Total Inferred 0.40 52,010          

Mineral resources are not mineral reserves and by definition do not demonstrate economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.  A ‘Measured Mineral Resource’ is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit.   An ‘Indicated Mineral Resource’ is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit.  An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified. M&I = measured and indicated.

                   Ootsa Property Open Pit contained metals at 0.2% Cu Eq cut off

Element Deposit Contained metal
Copper – M&I Seel + Ox 712,789,596 pounds
Copper – inferred Seel  + Ox 887,197,146 pounds
     
Gold – M&I Seel + Ox 646,880 ounces
Gold – inferred Seel + Ox 827,748 ounces
     
Molybdenum – M&I Seel + Ox 65,996,234 pounds
Molybdenum – inferred Seel + Ox 103,505,984 pounds
     
Silver – M&I Seel + Ox 11,426,052 ounces
Silver – inferred Seel + Ox 16,076,991 ounces
     
Cu Eq – M&I Seel + Ox 1,248,341,080 pounds
Cu Eq – inferred Seel + Ox 1,659,706,450 pounds

Photograph of the Ootsa Property, looking west toward the Huckleberry Mine