9 ahr smitherspresen apr08 final - minerals...
TRANSCRIPT
GrassrootsExploration
March 2008
Grassroots Exploration
• In the office– Research and planning– Program preparation– Land acquisition
• In the field– Geochemistry– Geophysics– What’s next
• Program scope and costs
Research and Planning
What’s involved?
Research and Planning
What metals are you looking for?
Research and Planning
Copper?
Then look for BC porphyry copper deposits.
Research and Planning
Copper-Zinc + others?
Then look for polymetallic volcanic hosted massive sulphide deposits.
Research and Planning
Where do you find them?
Research and Planning
Deposit Location Map
Kutcho Creek
Sullivan
BritanniaMyra Falls
Eskay Creek
Volcanic HostedMassive SulphideDeposits
Research and Planning
Which belt is under-explored?
We chose Kutcho.
Research and Planning
Where do you find equivalent age host rocks that have better infrastructure
and are under-explored?
Sitlika Assemblage.
Research and Planning
District Location Map
Kutcho Creek
Sullivan
BritanniaMyra Falls
Eskay Creek
Sitlika Assemblage
Research and Planning
Regional Geology Map
Research and Planning
Regional Infrastructure Map
Research and Planning
What is the next step?
Land acquisition.
Program Preparation
Program Preparation
What did we option?
The Bodine property.
Program Preparation
Why did we select this one?Because it had been found by
Smithers very own “Prospector of the Year” award winner -
Lorne Warren.
Senior A-Team Our “Prospector of the Year” Award Winners
Richard Haslinger Lorne Warren Mark Rebagliati
Program Preparation
Now we have it. What do we do?
Review historical databaseGeology, Geochemistry & Geophysical
Surveys
Geochemistry
PolymetProperty
Sitlika Assemblage
Geochemistry – Regional Geochemical Survey - Cu Silts
Magnetometer Survey & Cu Silt Geochemistry
Magnetometer Survey & Cu Soil Geochemistry
IP Chargeability Survey & Cu Soil Geochemistry
Geochemistry
AspiraProperty
Zn Silt Geochemistry
Cu Silt Geochemistry
Cu SoilGeochemistry
Zn SoilGeochemistry
Ag SoilGeochemistry
K SoilGeochemistry
Geochemistry
Zn Equivalent
Soil Geochemistry
What’s Next - Check out all the anomalies
What’s Next
Grid
Extension
Extend the Soil Grid to Cover All the Anomalies
What’s Next
Drill Hole
“Drill it this way”
“Drill it”
What’s Next
“and you are bound to fail”
Drill Hole
What’s Next
“Drill it this way”
Drill Hole
What’s Next
“and you will find out what is really there”
Drill Hole
Program
What did it take to do a reconnaissance exploration program on the Sitlika?
Program
2007 Grassroot ProgramDirect Person-Days of Employment 2,500Line Cutting 150 kmGeochemical Samples 11,000Ground Geophysics 115 kmAirborne Geophysics 1,900 km
Program Costs
How much did it cost?
Program Costs
Cost of 2007 Grassroots Program (150 days)Wages (Including overhead)Line CuttingGeophysicsRoom & Board @ $120/person-dayGeochemical AnalysesTrucks & TravelBags, Tags, FlagsHelicopters: $1100/hour (~$20/min) x 360 hours
Claims. Office Backup, etc.Total: $2,650,000
$800,000$250,000$330,000$320,000$220,000$120,000
$55,000$400,000$155,000
Program Costs
Cost of a first-look drilling program?
$100/foot all inclusive!For 10,000 feet @ 100 feet per shift
(50 days) = $1,000,000
Program Costs
Grassroots Exploration is a High Risk and High Cost Endeavour
Program Costs
And That’s Just the Beginning