Abstract
A large number of exploration works on Ruddock Creek Property (the “Property”) which is located at Revelstoke area in southeastern British Columbia, Canada have been conducted by various companies including Cominco Ltd. and Falconbridge Ltd. since 1960. Joint - venture (the “J/V”) between Mitsui Mining & Smelting Co., Ltd., Itochu Corporation and Selkirk Metals Corporation which is wholly owned subsidiary of Imperial Metals Corporation began three years exploration program on the Property in June 2010.
Surface mapping, geochemical and geophysical survey and surface drilling were carried out in southeast of the Property from 1960 to 2004. As a result, zinc-lead massive sulfide deposit was discovered. From 2005 to 2009 Selkirk operated intensive drilling campaign at E zone resulting in many intersections of massive sulfide layers being found, which are considered as an extension from the mineralized outcrop on surface. After the J/V exploration commenced, the target area was extended to whole of the deposit. To date, 1,291 m underground development, totally 426 drill holes (88,488 m) and resource estimation for Upper E zone, Lower E zone and Creek Zone have been completed on the Property.
The J/V also carried out microscopic study intended to reveal ore forming process on 30 samples collected from G, V, Creek, and Lower E zone. As a result of the thin section observation and EDS analysis two types of the mineralization are suggested; one is related to the generation of Quartz Exhalative Ore which has some features of a sedimentary deposit, and the other is associated to Massive Sulfide Ore containing several characteristics possibly showing a carbonate-hosted replacement mineralization which had not been pointed out in previous works on the Property.
Preliminary economic assessment performed in 2012 indicates the Property has sufficient economic value to proceed towards pre-feasibility study.
