Centrefire-Redhat Gold-Copper Property

 

Located 40km NE of Dryden and occurs within mafic rocks which were originally targeted for copper mineralization on the Redhat VMS targets by Phelps Dodge who drilled up to 15.2m @ 0.39% Cu. Prospecting of pyrite zones associated with massive magnetite beds can be traced for several kilometres at Redhat and to the Centrefire prospect located 4km away. Follow-up drilling in one hole by Abitibi Mining in 2011 of a new zone at Redhat returned trench channel sample gold results of 18m @ 1.1g/t and drill intercepts of 1.2m @ 9.17g/t and 1.5m @ 3.36g/t. Grab sampling at the Centrefire zone returned grab assays from outcrop of up to 23g/t Au which has not been followed up.

 

 

 

Terms of the Option Agreement

 

Copper Lake currently holds a 25% interest in the property.