CZC-CN $
Copper Reef Mining Corporation

Projects

Albert's Lake Basemetals - Copper

Location:
20km east of Flin Flon, Manitoba, 63K13

Commodity:
VMS Cu-Zn-Ag-Au

Highlights

  • New VTEM 35 Airborne Electromagnetic Geophysical Surveys outlines 4 new untested anomalies, one of which is very large.
  • This very large property host two felsic volcanic complexes which contain south of Copper Reef's Property four former mines as well as significant prospects.
  • The Property contains two known VMS deposits and large areas of intense VMS style alteration.
  • This felsic package is similar to the Snow Lake camp in the it has abundant felsic volcanic rocks which suggest it should host a large zinc deposit. That deposit has not been found.
  • There has been no deep penetrating surveys below 75 m been carried out on the property in the area of the new anomalies.
  • Drill Ready

History of Acquisition

The Albert's Lake Leo Lake Group is a very large property group which includes 5 separate properties with different underlying agreements. Three of the properties were acquired by Granges Inc. from various prospectors, one claim was acquired from Cameco Corporation, and the original Alberts Property was acquired by staking by Granges Inc. Granges sold the Properties in 1995 to Aur Resources and Thundermin Resources earned into the Aur properties. In 2003 Aur and Thundermin sold their interest to Foran. In 2005 Copper Reef, as part of a settlement agreement, acquired the properties from Foran Mining.

Because of overlapping exploration programs, the Properties will be described together, however the major Gold portion will be described separately in another report.

Property Status

Lew:
6 claims totaling 450 ha. Sufficient credits to hold

Alberts:
54 claims totaling 6,286 ha. Sufficient credits to hold

Amulet:
19 claims totaling 310 ha. Sufficient credits to hold

Mike:
1 claim totaling 65 ha. Sufficient credits to hold

Mur:
1 claim totaling 16 ha. Sufficient credits to hold

Total:
81 claims totaling 7,127 ha

Ownership

GENERAL:
100 % Copper Reef Mining Corporation

MIKE:
Cameco Corp is entitled to a 15% NPI

MUR:
Ray-Dor Resources Ltd. is entitled to a 2% NSR (0.5% purchasable for $20,000)

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Expenditures


Location Map Alberts Group (yellow)
Note: The two red blocks within Alberts are separated as non basemetal claims

Property
Granges
pre 1995
Aur
1995 - 2003
Copper Reef
2005-2014
Lew$2,024,350$2,110,048$216,240.55
Alberts$2,991,141$78,849$648,937.35
Amulet$269,665$61,261$6,745.92
Mike$497,213$2,967$776.40
Mur$2,919$1,427$350.17
Total$5,785,278$2,254,552$873,050
Note:Expenditures by Granges on Alberts was mainly for gold. Expenditures on Lew by Aur Resources was mainly for base metals. Expenditures on Alberts and Lew by CZC was mainly for gold. VTEM Airborne surveys by Copper Reef totaled for all 5 properties $101,815.30

Geology


New Alberts Lake Anomalies, Geology after Gilbert 2012
The Lew, Amulet, Mike, Mur properties, and the southeastern part of the Alberts property, are underlain primarily by rocks of the Baker Patton felsic complex of the Early Proterozoic Amisk Group. The sequence consist predominantly of felsic volcanic and volcaniclastics units which are intruded by mafic and felsic dikes and sills. Base metal mineralization in the Leo Lake area is hosted by altered and deformed felsic units, alteration zone associated with Leo Lake deposits is 5 km long and 1 km wide. Widespread gold-silver-telluride mineralization, commonly hosted by gabbroic rocks, occurs primarily along north-northeast ending shears. The Northern portion of the Albert Property Group in the area of Alberts Lake is the northern continuum of the Baker Patton Complex termed hear simply the Albert Lakes Felsic Complex.

Known VMS Mineralization on the Property

Leo Lake Deposit (Lew Property): Geologically inferred mineral inventory above the -500 foot level of 192,292 metric tones in four zones (21, 22, 23, and 24 zones) with an average grade of 2.29% Cu and 0.91 % Zn. Excluding the 21 zone the cumulative tonnage is 79,417 metric tones at 3.65% Cu and 1.94% Zn. The best interval from the 1997 drilling program, and intersection of the 24 zone in hole 97-LW-3, returned 8.44 % Cu, 0.03 % Zn, 6.0 g/t Ag, and 0.77 g/t Au over 7.3 meters (true width 4.2 metres).

159 Zone (Lew Property): 3.1 % Cu, 10.5 % Zn, 10.4 g/t Ag, and 1.28 g/t Au over a core length of 1.5 metres. Short strike length zone open down-plunge. Possibility that 159 zone and Leo Lake deposit may intersect at depth.

Amulet Occurrence (Amulet Property): 2.18 % Cu and 0.9 % Zn over 2.6 metres in drill hole. Comprises three separate lenses of mineralization are present; 1) the Adit zone, situated along the west shore of Amulet Lake; 2) the Beaverhouse zone, situated in the southwest bay of Amulet Lake and extending south off the property limit; and 3) the north zone, situated about 200 feet north of Amulet Lake. A review taking into consideration structural complications is required.

Deposits and Mines Immediately South of the Property

These are small deposit and quite unlike the large anomaly beneath Albert's Lake

PINE BAY

The Pine Bay deposit is a 1.113 million tonne pyrite + chalcopyrite dominated volcanogenic massive sulphide body situated about 300 m due east of the northern tip of Pine Point under Sourdough Bay (Watts, Griffis and McQuat Limited, 1973). It grades 2.81%Cu. Chalcopyrite is the only sulphide mineral present in "economic" quantities. Sphalerite is present only sporadically; assays of 3% have been reported locally. Gold and silver are present only in trace amounts.

CABIN ZONE

The solid sulphide body is a pyritic mass with bands of sphalerite and blebs and stringers of chalcopyrite. Pyrrhotite and magnetite are minor components. Drill hole 26-86 intersected 47.7 m (30.5 m true thickness) of sulphide grading 0.42 g/tonne Au, 13.6 g/tonne Ag, 1.0% Cu and 4.05% Zn. Footwall alteration is erratic but locally intense.

NORTH STAR

The mine was developed in 1951-52 and operated till 1958.The orebody consisted of a solid sulphide lens and a zone of irregular sulphide filled fractures. 241,643 tonnes of ore with a grade of 6.11% copper 0.41 g/t gold and 10 g/t silver.

DON JON

Two massive sulphide lens mined along with the North Star Deposit. Copper values from surface trenches ranged from 4.28 to 7.90% and about 1 g/t gold.


Alberts Lake and Baker Patton Felsic Complex

Leo Lake Area Geology

The significance of the alteration map is that the alteration associated with the Leo Lake deposit extend northward beneath Leo Lake and may come out in the bay just south of the Alberts Lake Anomaly

VTEM Surveys

Copper Reef has flown both the Alberts Lake Group of properties as part of a larger survey; the following map shows the flight lines relative to the local topography in the main Flin Flon Camp

TMI-VTEM 2010 Larger Survey

Alberts Lake Anomaly

Targets


Aimee Lake Anomaly
All Four New Airborne Targets Aimee, Z4 and % and especially the Alberts Lake Anomaly should be drilled, ground Transient EM surveys are an option.
 
  ©2014 Copper Reef Mining Corporation
Copper Reef Mining Corporation