The Hanson Lake property consists of 1 claim comprising 451 ha. The S-106615 claim block contains a small, past-producing zinc-lead-copper mine that was operated by Western Nuclear Mines until the closure of the mine in 1969 after producing 147,000 tons of 10% Zn, 5.8% Pb, 0.5% Cu and 137.0 g/t Ag. Hanson Lake Property located in east-central Saskatchewan (NTS 63L-10, south-east corner coordinates, Latitude 54° 39' 49" Longitude 102° 50' 32"). The property lies surrounded by ground held by Foran Mining Corporation and is on strike to the north with the large VMS deposit (McIlvenna Bay) held by Foran Mining. The most recent estimate of resources of the McIlvenna is roughly 29 million tonnes, using a $45 (US)/t NSR cut off, (see Foran Mining Corporation news release March 27, 2013).
The Hanson Lake Properties lie slightly south west of Creighton, Saskatchewan and Flin Flon, Manitoba. The driving distance is about 95 km via the Inter Province highway 106 and a well maintained Hanson Lake Mine gravel road. The travel distance on the mine road is approximately 11 km. The Hanson Lake Property is accessible year round.
"From the Borehole Electromagnetic (BHEM) surveys of recent drilling at the Hanson Lake Property, three distinct anomalous responses have been highlighted for future exploration efforts. Target 3 would rank as the highest priority target as it exhibits the highest time constant and has the potential to be due to a large source. Targets 1 and 2 are due to smaller and less conductive sources, but represent discrete targets which do not appear to have been tested, and as such appears as priority targets within this geological environment." (Ralph, K., Koop, D. 2011)
Three high priority targets within the South Bay Zone were obtained from the BHEM surveys of recent drilling. Target three would rank as the highest priority target.
|Target 3||-70||554.5||637725||6061450||South Bay|
|Target 1||-55||247.2||637750||6061200||South Bay|
|Target 2||-55||226.1||637725||6061100||South Bay|
Copper Reef Mining Corporation spent a total of $1,456,319.77 from 2010-2011 on Hanson Lake. The property has sufficient credits to be in good standing for at least 15 years.
Approximately $700,000.00 is needed to test the three high priority targets; which include on the South Bay horizon; the VTEM anomaly to the north; and behind drill hole HCR-11-20 at depth; as well as on the main mine Horizon, a deeper drill hole beneath the old Hanson Lake mine. Bore Hole Electromagnetic surveys (BHEM) surveys for each of these drill holes is included in this cost. A deep penetrating survey similar to Foran's work on outlining Target A and B on the Foran's ground to look below the old mine would be an additional $125,000.