Lorraine Copper was listed in April 2008 as a result of a plan of arrangement between Eastfield Resources Ltd. and Lysander Minerals Corp. Each company put their 50% interest in the Lorraine copper-gold project into Lorraine Copper Corp. The shares in the new company were distributed to the shareholders of Eastfield and Lysander.
From inception until 2016 the company owned a single asset, the Lorraine Copper-Gold project with Teck earning 51% in 2011 by spending $9,000,000 on exploration. The Lorraine project has now seen over $15 million in exploration since 2000.
In 2016, with copper and gold trading at multi year lows, Lorraine Copper Corp. acquired a 100% interest in the Stardust and OK projects, both located in British Columbia.
In 2017 Lorraine optioned a 100% interest in the Stardust project to Sun Metals Corp., an Oxygen Capital Company headed by Mark O’Dea, Don McInnes and Sean Tetzlaff, with Steve Robertson taking over as president of Sun Metals. Terms include Lorraine Copper receiving 30% of the issued shares of Sun Metals following a $6,000,000 exploration expenditure. Lorraine also retains a 2% production royalty on precious metals and a 1% production royalty on base metals, each of which can be reduced by 50% for $1,500.000.
Since 2011, Mark O’Dea’s group has created $3 billion in shareholder value through the sale of Fronteer Gold to Newmont for $2.3 billion, True Gold Mining to Endeavour Mining for $240 million, uranium company Aurora Energy to Palladin Energy for $260 million and True North Nickel to Royal Nickel in a private company transaction for an undisclosed amount
Lorraine Copper now holds interests in three advanced projects with a combined total of over $40 million spent to date. All projects have 43-101 compliant resources
An aggressive field program including up to 15,000 meters of drilling is planned for Stardust in 2018.