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Highway 50 Gold Corp.
Summary
| Project: | Monroe | |
|---|---|---|
| Deposit: | Monroe | |
| Location: | Canada | |
| Commodities: | Lead-Zinc | |
| Date: | 6/24/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-6-2016: Highway 50 Gold Corp. announces a Supporting Acquisition report for its Monroe deposit at the Monroe project. Compilation of historical geological data for property in support of acquisition. At the request of the Directors of Highway 50 Gold C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Barry James Price (B.J. Price Geological Consultants Inc.) | |
| ABSTRACT: | At the request of the Directors of Highway 50 Gold Corp. (“Highway 50” or the “Company”), the author has compiled historical geological data for this report on the Monroe lead-zinc sedimentary Exhalative prospect near Monroe Lake, south of Cranbrook, BC. The Monroe property (the “Monroe Property” or the “Property”) is centered around Monroe Lake, approximately 20 kilometres southwest of Cranbrook, British Columbia, in the Fort Steele Mining Division. Access is by paved highway south from Cranbrook to the all-weather gravel Lamb Creek forest service road. A good network of mining and logging roads allows access to much of the Property. Cranbrook is accessed by daily flights from Vancouver and Calgary. Highway 50 has an option to earn a 50% interest in the Monroe Property. In order to exercise the option (the “Option”), the Company has made a firm commitment to spend an initial $100,000 in exploration expenditures on the Property in the first year, followed by additional annual optional exploration expenditures totalling $2.9 million over the next four years. No other consideration is required to exercise the Option. The target is a buried Proterozoic age sedimentary exhalative lead zinc-silver deposit similar to the nearby world class Sullivan deposit at Kimberley which is now mined out. | |
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