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Abcana Capital Inc.
Summary
| Project: | Pitman | |
|---|---|---|
| Deposit: | Pitman, Keaper | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 11/17/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-11-2017: Abcana Capital Inc. announces a Supporting Acquisition report for its Pitman, Keaper deposit at the Pitman project. Summary of property in support of acquisition. The Pitman group of mineral tenures, located northeast and east of Terrace, B.C. | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Robert Johnston, Erik Ostensoe (Independent) | |
| ABSTRACT: | The Pitman group of mineral tenures, located northeast and east of Terrace, B.C., comprises five non-contiguous mineral tenures with total area 5423.17 hectares. Tenures are owned by Casa Minerals Inc., a junior mineral exploration company with offices at Suite 880-490 Granville Street, Vancouver, B. C., Canada, V6C 1T2, and by F. Shirvani, President of Casa Minerals Inc., in trust for Casa. Effective July 10, 2014, Abcana Capital Inc. (the “Issuer”) entered into a business combination agreement with Casa Minerals Inc. where by Abcana Capital Inc. agreed to acquire all of the issued and outstanding shares of Casa Minerals Inc. On closing of the transaction Abcana Capital Inc. will be the sole shareholder of Casa Minerals Inc. and become the de facto owner of the Pitman property mineral tenures, including the mineral tenure held by F. Shirvani. The Pitman property lies near the east side of the Coast Mountains at the transition from the Coast Crystalline Intrusions (historically aka the “Coast Batholith”) to the Intermontane physiographic province. Rock formations include granitic intrusions in contact with volcaniclastic and meta-sedimentary formations of Mesozoic age. In contact areas the latter are strongly to moderately metamorphosed to schists and slates; thin glacial till deposits occur on mountain slopes. There are few bedrock exposures at low elevation due to a veneer of glacial tills and forest cover but at higher elevations outcroppings are much more abundant. Most streams are deeply incised into the mountainous terrain and glaciers that occupy parts of the tenures are observed to be rapidly ablating. Mineral occurrences include quartz veins with gold values, and areas of disseminated mixed sulphides, principally pyrite, chalcopyrite and/or molybdenite, with erratic but significant gold and silver values. | |
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