Lorraine (49% Lorraine copper, 51% Teck)

The Lorraine copper – gold project has seen over $15 million in exploration since 2000 with over 200 drill holes for over 32,000 meters.

Located in the Omineca Mountains of British Columbia, near the headwaters of Duckling Creek, approximately 280 kilometres northwest of the city of Prince George.

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.

oVerview

The property covers an area of approximately 39,046 ha (96,481 acres). It hosts a large number of copper-gold occurrences related to alkalic intrusives of the Duckling Creek Syenite Complex as well as several occurrences in the Hogem Batholith.

It is well served by resource infrastructure, including all season roads, the Kemess power corridor to the northeast and the Canadian National Railway line to the southwest.

 Lorraine Copper holds a 49% interest in the project with Teck holding 51%

Mineralization on the Lorraine project is related to alkalic intrusions and belongs to a deposit style that includes the Galore Creek project owned by Teck and Nova Gold Resources Inc., the Imperial Metals Corp. owned Mount Polley Mine and the New Gold Inc. owned New Afton Mine. The Lorraine project is located approximately 100 km northwest of the Centerra Gold Inc. Mt. Milligan mine and 120 km southeast of their Kemess Mine.

History

The key claims were acquired in 1947 by Kennecott Corporation and were purchased from Kennecott in 1994 by Lysander Minerals Corporation. The property 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.

In 2008, Eastfield and Lysander combined their interests in the Lorraine property, created a new company, Lorraine Copper Corporation, and completed a pro rata distribution of shares to existing shareholders.

In December 2010, Teck earned its 51% interest.

The ni 43-101 compliant resource

Following the work completed by Teck, an NI 43-101 compliant resource calculation was completed in 2012, which outlined a substantial deposit as shown in the table below.

The Main Zone-Bishop Zone area offers good potential for establishing a core resource from which exploration on other occurrences can add to.

Also of significance are the high grades in both copper and gold for the resources. Limited drilling between the two zones indicates a good possibility for connecting into one deposit. There are seven additional mineralized zones on the property which have not yet been advanced to a stage where resources can be measured but which hold significant resource potential.

A total of 131 drill holes comprising 21,465 m were used in the resource estimate. Within all tables a 0.20 % Cu cut-off is highlighted as a possible open pit cut-off, however, at this time no economic studies have been completed and an economic cut-off is unknown.