Thane Project

Overview

Located in Quesnel Terrane, the Thane Property covers 206 square kilometers.

• Six areas with significant copper mineralization
• Includes areas of high-grade silver and gold mineralization
• Blue sky potential
  • Numerous geophysical anomalies identified in 2015 survey
  • Anomalous copper-in-silt samples outside key areas

Located in a relatively unexplored portion of the northern Quesnel Terrane extending from the south to Centerra Gold's Mt. Milligan Mine to it's Kemess Underground Project and the former Kemess South Open Pit Mine in the north.

Regional Geography

The Thane property is predominantly underlain by intrusive rocks of the Hogem Plutonic Suite. Intermediate volcanic rocks of the Takla Group are in contact with the intrusives at the northeastern portion of the property. The dominant intrusives types are monzonites, monzodiorites, diorites and syenites. Granites, granodiorites and other intrusives mapped tend to be smaller dyke-like units within the main intrusive types.

Numerous dykes, sills and small stocks are noted throughout the property. To date, six mineralized areas have been identified. Four areas are hosted in the intrusive pluton (Lake, Cirque, Gail and Cathedral), one in the Takla volcanics (Mat) and one at the contact between the intrusives and the volcanics (CJL).

Style of Mineralization Include:

• Stockwork and disseminated porphyry-type mineralization
• Vein-hosted, high-grade mineralization
• Late-stage magnetite-chalcopyrite veins
• Late-stage quartz-chalcopyrite veins

Sampling Results

Interra began an extensive compilation and synthesis of available data from the Property, which includes 359 rock samples, 1,098 rock samples, and soil sampling and Induced Polarization surveys.

For additional details see the figures below or view the news release IMC International Mining Corp. Announces Cathedral Area Results (May 19, 2020).

Cathedral Area Results

At the Cathedral Area, rock sampling identified five copper-gold showings that include the Pinnacle, Cathedral, Cathedral South, Arc, and Gully Showings. Select results from these showings include:

Gail/Cirque Area Results

The Phelps Dodge Corporation (“PDC”) sampled the Gail Area in 2000 prior to involvement of CME and TMI. Grab samples from within the Gail Area by PDG identified numerous anomalous copper and gold values, including grab samples of up to 4.49% Cu and 6.48 g/t Au.

Of the 295 rock samples collected by TMI in 2012, 140 returned assays greater than 0.1% Cu while a total of 32 samples returned greater than 1.0% Cu, to a maximum value of 7.69% Cu. A total of 34 samples returned assays greater than 0.1 g/t Au, with 8 samples greater than 1.0 g/t Au. Anomalous gold and silver values are invariably associated with anomalous copper values but the converse does not appear true for this Area. Selected rock sample results from TMI's work at the Gail Area showing are presented below.

At the Cirque Area, a visit by CME in 2010 found anomalous malachite and azurite staining on the eastern facing cirque. Other than a single day visit to the eastern part of this area, there has been no follow-up since the initial discovery. The lithology of the area consists of coarse-grained, leucocratic, equigranular diorite consisting of 60% plagioclase feldspar (2 to 4 millimeters), 30% hornblende and 10% magnetite. Enclaves of up to 90% magnetite, approximately 10 centimeters in diameter, with 10% epidote are found within nearby angular boulders.

The main Cirque showing is located 2.5 kilometers west of the Gail showing. The azurite and malachite form a 1-millimeter layer that covers the face of the cliff and was formed from leaching of chalcopyrite rich rocks higher in the cliff. A similar, approximately 15 meters wide, secondary copper oxide alteration zone occurs 50 meters south of the main showing. No samples have been collected from this southern showing. The mineralization found within this area is structurally controlled, with a series of narrow sub-parallel sulphide veins.

A one-day traverse was undertaken at the Cirque Area in 2012 by TMI. The 2012 sampling was limited to the eastern region of the Cirque Area in the vicinity of the historical 2.85% Cu sample taken by CME in 2010. Of the 8 samples collected, two returned greater than 1% Cu. The host rock is principally medium to fine-grained granodiorite. Mineralization differs from the main showing of the Cirque, as chalcopyrite was found to occur as disseminations throughout the fine-grained granodiorite. Figures illustrating sample locations for the Cirque Area are presented below.

CJL/Mat/Lake Area Results

Commander Resources Ltd. first discovered the CJL Showing in 2005 during a one-day reconnaissance traverse. TMI undertook a short prospecting program in 2016 to verify Commander Resources results, which resulted in the collection of 56 rock samples. Copper mineralization at the CJL Showing is hosted by highly altered, foliated syenite and magnetite/specular hematite breccia. Due to the steepness of the terrain, in-situ mineralization was not visited by TMI, however visible copper oxide mineralization (malachite) was observed on the cliff face for a length of over 125 meters. From the 56 rock samples collected by TMI, 31 samples returned greater than 0.1% Cu, and 10 samples returned greater than 1.0% Cu. The highest copper values were found to occur in areas of intense brecciation. Although gold grades appear to be lower in tenure from the Gail and Cathedral Showings, located approximately 5 km and 11 km to the south, respectively, sample 3020 returned 0.632 ppm Au, which demonstrates gold mineralization of significant tenure does exist at the CJL Showing. A compilation of the results is presented below.

In 1971, Fortune Island Mines Ltd. discovered a pyrite-chalcopyrite bearing quartz vein, from which a 1.07 meter chip sample returned 2.18% Cu. In 1983, Canasil Resources Inc. (“Canasil”) blasted open the vein from which they collected a total of 41 chip samples, each 0.31 meters in length, over 230 meters of exposed vein material. The average silver value of all the samples collected was 746 g/t Ag. In 1985, Canasil tested the vein with 9 diamond drill holes totaling of 942 meters from 4 set-ups. Silver mineralization over similar widths observed on surface was intersected in 2 of the holes. Results ranged from 165 g/t Ag to 468 g/t Ag. In 1991, Canasil undertook channel sampling in 10 areas over a previously unsampled section of the main vein, which yielded an average grade of 1,140 g/t Ag, 0.51% copper, 1.79% lead, and 2.59% zinc. In 1998, Canasil conducted rock sampling over the main vein, which returned an average grade of 822 g/t Ag over an average width of 0.34 meters. These results are historical and are presented for reference only.

In 2015, TMI undertook an airborne geophysical survey over the Thane property, which included coverage of the Mat Area. Additionally, confirmation sampling of the main vein was undertaken prior to the start of the survey. A grab sample from the main vein returned up to 4,950 g/t Ag, 1.5 % Cu, 3.3% Pb and 1.2 % Zinc. The airborne survey, identified a 1-kilometer x 0.5-kilometer magnetic feature, proximal to the silver-bearing quartz vein, which has not yet been explored. This magnetic feature was confirmed in 2017 when Geoscience BC undertook an airborne geophysical survey as part of their Quest program. The total magnetic intensity is presented with selected historical rock samples locations below for reference.

The Lake Area was discovered by TMI in 2012. From the 141 rock samples collected by TMI, 77 samples returned greater than 0.1% Cu, 39 samples were greater than 0.5% Cu, and 15 samples were greater than 1% Cu. Gold mineralization was found to occur at the Lake Area, as a total of 39 samples returned greater than 0.1 g/t Au, with 8 samples being greater than 1.0 g/t Au. Anomalous gold values are invariably associated with anomalous copper values, but the converse does not hold. Rocks within the Lake Area were mapped as quartz monzonite to dioritic in composition, with significant copper grades associated with potassic alteration zones. The style of mineralization has not yet been defined, but the footprint of anomalous copper and gold mineralization covers an area 3 km long by 1.5 km wide.

Along the base of the southern cliffs, significant copper and gold mineralization was found to occur for a length of 2.3 km. Sample highlights along this zone of mineralization include 3.37% Cu, 1.39 g/t Au from gossanous float with abundant (5-7%) pyrite and moderate to strong chlorite and potassic alteration at the western end of the zone, and 3.02% Cu, 0.88 g/t Au collected from gossanous quartz monzonite with malachite and chalcopyrite near the eastern end.

Quartz monzonite with chalcopyrite and malachite staining sampled at higher elevations near the ridge crest, returned up to of 3.82% Cu and 3.07 g/t Au. At the western edge of the area, grab samples from outcrop returned up to 1.52% Cu and 0.04 g/t Au. A compilation of the results is presented below.

Other Known Deposits and Producers in the Quesnel Terrane

Reports

2021 Exploration - Thane Property