Property Description

The Iskwasum property is comprised of 13 claims covering 2,655 hectares located approximately 9 km east of Reed Lake. The property is underlain by an intensely deformed mafic to ultramafic complex with a potential to contain economically significant Ni Cu sulphide concentrations. Historical exploration undertaken by companies such as Granges and Hudson Bay included a series of airborne magnetic and electromagnetic surveys. Interest became focused on the northwest arm of the lake where drilling intersected sulphide-bearing serpentinized peridotite assaying 1.24 % Ni over a core length of slightly less than 1 metre (the “Law zone”).

Geological prospecting in 2007 showed that the majority of the potentially economically interesting mafic ultramafic rocks are covered by Iskwasum Lake and thus evaluation of the mineral potential of this property had to largely rely on an evaluation of geophysical and drilling data. Previous geophysical surveys may have penetrated to no more than 200 to 300 m depth and drilling depth never exceeded 100 m depth.

Activities in 2009

During the quarter the Company decided to cease exploration work on the Iskwasum property and to allow the claims to lapse.