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BLACK RIVER PROPERTY
Highlights
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5 Mineral Exploration Licences totalling 638 km2
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Possible Éléonore-type deposit
- Potential for gold, nickel, uranium, and platinum group elements (PGEs)
Location
The Black River Property is located 22 kilometres west-southwest of the CUPP Proper along Highway 304 south of Manigotagan, Manitoba. The property is a 1.5 hour drive from Winnipeg.
Property description and geology
The Black River Property is believed to be prospective for an Éléonore-type deposit and is part of a major crustal belt system running from Québec to Manitoba. This belt hosts Canada’s largest and some of the world’s richest gold properties such as Goldcorp’s Red Lake Gold Mine. The Black River property is thought to possibly contain gold, copper, nickel, uranium, and platinum group elements.
Current work program
No work program is currently underway. No further exploration is planned until consultation with the Black River First Nation is complete.
Ownership
The Black River property consists of 5 Mineral Exploration Licenses (the “Black River MELs”) totalling 63,873 hectares. The Black River MELs grant the Company the exclusive right to explore for minerals within the respective license area for a maximum period of 6 years (the License Period”); the licenses are valid for three (3) years and renewable for an additional three (3) years. The cost to register the Black River MELs was a fee of $359.00 for each license plus a $0.50 per hectare deposit which will be applied against future work. The Black River MELs may be reduced, cancelled, or converted to claims at the Company’s discretion at any time during the currency of the License Period. While the Black River MELs are in effect, the Company must incur annual minimum work expenditures in order to maintain them.
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