The Company is well financed to take advantage of the many opportunities brought to its attention. The Company continues to carefully review projects that meets its criteria of established resources, near-term cash flow and significant exploration potential.
The Company also currently has the following properties in good standing:
1) Mel Property:
The 100% owned Mel zinc-lead-barite property consists of 257 claims and is located in the Watson Lake Mining District of Yukon. As previously disclosed by International Barytex Resources Ltd., the Main Mel Zone was the focus of a 48 hole program that resulted in an Indicated Mineral resource of 6.78 million tonnes of 7.1% zinc, 2.03% lead and 54.69% barite. The Main Zone remains open to depth.
2) Barb Property:
The wholly owned Barb property consists of 21 claims and is located approximately 100 km north of the town of Watson Lake. Two mineralized zones have been identified on the property, the Matt Berry and the Money zones. A historic resource for the Matt Berry zone was estimated at 588,000 tons grading 6.5% lead, 4.6% zinc and 3 ounces per short ton silver by a predecessor company in 1977 using resource categories that are not compliant with NI 43-101 standards. As such it should not be relied upon and serves only as an indication of the property potential. A portion of the historic estimate is considered to be equivalent to an Inferred Resource.
Both the Mel and Barb properties have additional exploration potential including geophysical targets that warrant drill testing.
