Lorraine Copper Corp,. - QwikReport

LORRAINE COPPER CORP,. : http://www.lorrainecopper.com/ : QwikReport

Project

Introduction

The Lorraine property is located in the Omineca region of British Columbia, approximately 280 kilometres northwest of Prince George. Lorraine is a large property consisting of 119 mineral claims and is 30,658.7 hectares in size or 306 square kilometers (118 sq. miles). It hosts a large number of copper-gold occurrences related to alkalic intrusives.

The key claims were acquired in 1947 by Kennecott Corporation and were purchased from Kennecott in 1994 by Lysander Minerals Corporation. It was acquired by Eastfield Resources from Lysander Minerals through an option granted in 2000 and became an earned 50% ownership interest in 2005.

In 2005, Teck Resources Ltd. was granted an option to earn an initial 51% interest in the property by spending $9,000,000 on exploration, with minimum budgets of $1,500,000 per year. Teck may increase its interest to 60% by funding and completing a feasibility study. Should Teck decide to put the property into production, it may earn a further 5%, bringing its total interest to 65%.

In 2008, Eastfield and Lysander combined their interests in the Lorraine property, created a new company, Lorraine Copper Corporation, and spun it off to investors. The Teck option is still valid until 2010, when they must decide whether or not to exercise the option.

Many Different Zones

The Lorraine property has many different zones and areas of interest. The Lorraine Main Area is divided into the Lower Main Zone and Upper Main Zone. To the immediate southeast is the South Main, Weber, Copper Peak and Bishop Zones which are theorized to be part of the Lorraine Main Area, and together may make up one large system.

Other zones a greater distance to the south or southeast include 2 Good, Rhonda, Dorothy, MacKenzie. To the northwest of the Lorraine Main Area are the All Alone Dome, Slide, Boundary, Misty and the Cirque/Fault zones. The Slide Zone was drilled by Teck in 2007. In addition to these known zones of mineralization, there are several other anomalies and prospective areas that remain untested.

Historical Drilling

The first diamond drilling on the Lorraine claims occurred in 1949 and since that time most drilling has been on the core Lorraine claims. Some exceptional holes have been drilled over the years in various parts of the property. Some highlights are as follows:

Zone	Hole	Interval (m)	Copper (%)	Gold (g/t)
Slide	JTM-06-7	55.5	0.72	0.07
	JTM-06-10 Including	70.9 22.9	0.26 0.24	- 0.15
	JTM-06-07	55.5	0.72	0.07
Upper Main	94-8	101.5	1.42	0.62
	94-8	72.3	0.93	1.72
Lower Main	2002-62 Including	148.9 50.7	0.57 0.89	0.38 0.61
South Main	04-74 Including	19.03 10.68	0.55 0.84	0.27 0.35
Bishop	91-7	66.7	0.95	0.34
Ekland	96-39	8.3	2.05	0.94

Geology

The Lorraine-Jajay property occurs within a large composite intrusive complex, the Hogem Batholith, which is located within a northwest-southeast trending Mesozoic remnant of a west facing volcanic arc termed Quesnel Terrane and part of the larger Quesnel-Stikine Terrane. The tectostratigraphic setting of the Quesnel Terrane has also been referred to as the Takla-Nicola-Stuhini Volcanic Arc.

The Quesnel and Stikine Terranes are a Triassic to Jurassic aged obducted island arc assemblage that forms an approximately 1200 kilometre long belt. The belt extends from the B.C.-Washington State border in the south, to the Yukon border in the north. The Quesnel Terrane is fault bound on the west and east, abutting older terranes. To the east are lithologies assigned to ancestral North America and less commonly smaller remnants of older island arc assemblages. To the west are mostly lithologies of oceanic provenance assigned to the Cache Creek Oceanic Terrane in the South and east facing Stikine Terrane in the north.

The Quesnel Terrane hosts several calc-alkalic porphyry copper-molybdenum and alkalic porphyry copper-gold-silver deposits throughout its length. Examples of alkalic past and present producing mines include Copper Mountain, Afton and Mt. Polley, as well as a number of deposits that have reached advanced stages of exploration such as Galore Creek. Deposits in the region that are likely also related, but are more of a calc-alkaline character as represented by the Red-Chris deposit, the Kemess Mine deposits and the Mt. Milligan deposit.

The Lorraine-Jajay property lies in the northern portion of the Quesnel Terrane and exhibits many characteristics similar to the Mt. Polley and Galore Creek deposits. Mineralization at these deposits is generally disseminated, pyrite deficient, is associated with magnetite and has narrow peripheral alteration halos flanking strong potassium alteration cores.

About the 2007 Deep IP

The 2007 exploration program was designed to evaluate a large (12 by 6 km) area that comprises the core of the Duckling Creek Complex and hosts most of the significant mineralized zones in the Lorraine area. A total of 90.6 line-km of IP geophysics were completed. The survey was designed to "look" down to approximately 450 m in depth, in order to test for continuity of the mineralized zones along strike and to depth. The geophysical survey was successful in outlining both existing mineralized zones, such as the Bishop Zone, as well as indicating new or extended targets such as an IP anomaly that extends for 2.0 km northwest from the All Alone Dome target. (Go to the Map section of this website to view the deep IP survey)

The IP data suggests continuity through the Lower Main Zone to Bishop Zone an area that has been previously interpreted but has yet to be drill tested between zones. Anomalies to the south of these zones indicate the potential for outlining further mineralization through Copper Peak and to the south.

It is also apparent that many anomalies gain size and strength at deeper levels. This is particularly significant indicating strongly developed systems that now appear to show greater depth extent and size than could have been known from previous data.

With regard to some of the individual targets that were previously known from shallow or surface data, interesting new observations can be made. The All Alone Dome Target (AAD) was previously described by a 500m by 500m coincident soil copper geochemical and IP chargeability anomaly. The deep IP now suggests an anomalous zone extending for at least 2 km as well as a large new anomaly appearing to the southwest of the main anomaly. This target area is now comparable in scale to the Main-Bishop area.

In the Boundary area it appears that the IP anomaly lies to the west of the drilling and has not been tested in its strongest part. The 2 Good (shortened from Too Good To Be True) anomaly in the southwest grid area is the most dramatic of all the anomalies by its size and strength, both of which show strong increase to depth. This target is 2.5 km long and open-ended. Previous shallow drilling did not test the stronger portions of the anomaly though one hole (05-101) did carry some pyrite zoning to pyrite-chalcopyrite toward the bottom of the hole suggesting a need for deeper drill testing.

Follow Up on the Deep IP in 2008

In 2008, Teck drilled 6,935.5 m in 19 holes and tested eight target areas. A number of significant new developments have resulted from this drilling, most notably, the discovery of another mineralized zone below the Lower Main Zone. Drill hole L08-120 first intersected 159.2 m grading 0.64% copper and 0.30 g/t gold representing the Lower Main Zone, then intersected 58.8 m grading 0.092% copper including 22.1 m grading 0.16% copper 95.3 m beneath the first interception.

Two holes were drilled to test for a northern extension to the Bishop Zone and also to determine if this zone is connected with the Main Zone. Holes L08-121 and 128 very successfully attained this objective, returning 123.3 m of 0.31% copper and 23.4 m of 0.49% copper, respectively. These holes indicate the potential for significantly increasing resources in this area.

New areas of mineralization were also discovered, including: west of the Boundary Zone in holes JTM08-16 and 17; the All Alone Dome target in hole L08-115; and the first significant intercepts of mineralization at the TooGood target in holes L08-116, 118 and 119 where notable mineralization was seen in a few holes that were cut off by post-mineralization dykes, indicating that mineralization in this large target is potentially very extensive.

2008 Drill Results

Hole No.	Area	From (m)	To (m)	Core Length (m)	Assay Cu %	Assay Au g/t
JTM08-16	Boundary	384.3	515	130.7	0.09	-
	incl.	384.3	405	20.7	0.15	-
	incl.	460	481	21	0.18	0.066
JTM08-17	Boundary	36.7	55.3	18.6	0.12	-
L08-115	AAD	280.5	301.2	20.7	0.10	-
L08-116	TooGood	262.2	308.8	46.6	0.12	-
L08-117	TooGood	285	294	9	-	-
L08-118	TooGood	174	186	12	0.14	-
L08-119	TooGood	88.6	153	64.4	0.10	-
	incl.	126.2	153	26.8	0.12	-
L08-120	Lower Main	8	167.2	159.2	0.64	0.304
	2nd zone	262.5	321.3	58.8	-	-
	2nd zone incl	262.5	284.6	22.1	0.16	-
	Both zones combined	8	284.6	276.6	0.39	-
L08-121	Bishop Ext	89.8	326	236.2	0.19	-
	incl.	89.8	213.1	123.3	0.31	-
	incl.	158.3	213.1	54.8	0.59	-
	incl.	158.3	182.3	24	1.13	0.151
L08-122	New	144.8	149.3	4.5	0.13	-
	incl.	201.1	203.1	2	0.57	-
L08-123	New	59.4	59.9	0.5	0.60	-
L08-124	Page Bowl	43.5	50.4	6.9	0.15	-
L08-126	New	57	60.3	3.3	-	-
	New	174	183	9	-	-
L08-128	Bishop Ext	66	359	293	-	-
	incl.	184	207.4	23.4	0.49	0.361
	incl.	281	301	20	0.31	0.233
	incl.	335	359	24	0.20	-

Access

The Lorraine project is located in the Omineca mountains near the headwaters of Duckling Creek, approximately 280 km northwest of Prince George. Logging activity has placed forest access roads to within a few kilometers of the property.

The property is accessed by paved and all-weather gravel roads from Prince George, through the town of Mackenzie and along the main haul road to the Kemess Mine. Hydroelectric power is available to within 40 kilometres of the property as is access to the rail line along Takla Lake. Lorraine has the big advantage of not being a logistically challenging prospect to work in or develop.

Comparables

Analogues to Lorraine-Jajay include Galore Creek (Novagold), Afton (New Gold/Abacus) and Mount Polley all located in British Columbia. These deposits are of major industry interest because of their typical high grades and environmentally friendly metallurgy.

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This page was created on Wed Sep 8, 2010 at 4:05:16 AM Pacific Time.