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Prophecy Potash Corp.
Summary
| Project: | Indata | |
|---|---|---|
| Deposit: | Indata | |
| Location: | Canada | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 1/21/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-1-2019: Prophecy Potash Corp. announces a Supporting Acquisition report for its Indata deposit at the Indata project. Summary of property in support of option agreement. The Indata property is located approximately 130 kilometres to the northwest of Fo | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bruce Laird (Mincord Exploration Consultants Ltd.) | |
| ABSTRACT: | The Indata property is located approximately 130 kilometres to the northwest of Fort St. James in central British Columbia and is owned 91.2% by Eastfield Resources Ltd. (“Eastfield”) and 8.8% by Imperial Metals Corporation (“Imperial”). Prophecy Potash Corp. (“Prophecy Potash”) has an option agreement with Eastfield that grants it the right to earn a 60% interest in the property by paying to Eastfield the aggregate sum of $250,000, by issuing and allotting to Eastfield an aggregate of $150,000 of fully paid shares of Prophecy and by expending an aggregate of $2,000,000 on the Indata Property over a five-year period ending on the 5th anniversary of the agreement. The Indata property consists of 16 claims comprising 3,189 hectares (7880 acres) and is situated in a complex geological setting adjacent to the Pinchi Fault, a major structure separating the oceanic derived Cache Creek Terrane and mafic volcanic, island arc derived, Quesnel Terrane. Approximately $2,640,000 has been spent exploring the Indata property since 1984, with the most recent work completed from 2007-2013. Exploration has included the collection of over 4,700 soil samples, the completion of over 70 kilometres of ground geophysics, including magnetics, VLF and induced polarization, 595 line kilometres of airborne magnetics and VLF, over three kilometres of excavator trenching, and over 7,300 metres of core drilling. The most recent work has focused on areas to the south and northwest of the earlier work in the central part of the property. Porphyry copper style mineralization at Indata is associated with copper in soil anomalies and coincident broad chargeability highs. There is known mineralization in the Lake Zone, located on the northwest corner of Albert Lake. This zone occurs at the north end of a two kilometre long copper in soil anomaly which also contains strong broad chargeability highs, most of which has yet to be drill tested. The known mesothermal polymetallic precious metal veins occur 500 metres east of the Lake Zone porphyry mineralization, within a north-south trending zone that extends for 1,200 metres. These veins occur within coincidental arsenic-antimony in soil anomalies and show up as strong discrete chargeability highs on the induced polarization surveys. | |
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