Ox Lake Property Detail

Gold Reach Resources has acquired a 100% interest in 14 claims totaling approximately 1,330 acres known as the “Ox Lake Mineral Property”. The Seel Project encompasses these claims.

The Ox Lake occurrence was identified in 1968 by a regional prospecting program conducted by Silver Standard Mines Ltd and American Smelting And Refining Company. The deposit is located in an area of subdued topography with forest cover. The Ox Lake deposit is a crescent-shaped zone of disseminated and vein-controlled pyrite, chalcopyrite and molybdenite in biotite hornfels andesitic fragmental rocks.

Initial drilling in 1968 defined a pre-NI 43-101 reserve of 51 million tons grading 0.528% Cu copper equivalent (in 1968 prices and the reader is cautioned these figures are not NI 43-101 compliant and should not be relied upon). Gold Reach recently completed a 12-hole, 2,380-metre drill program. Results have verified the historic grades. The most significant results so far are from OX07-6, drilled at an angle of -75°, which extends the mineralized zone an additional 55 metres at depth. Also, drill hole OX07-11 extended the known mineralized zone to the north of the lake.

Another significant aspect to the winter 2007 Ox Lake drilling is the very low (virtually zero) levels of arsenic, antimony, and mercury, thus producing a very “clean” concentrate. Also important is the high level of calcium carbonate (almost equal to sulphur) in the mineralized sections. Although acid-base accounting has not been carried out, these findings point to the potential to have non-acid generating tailings produced from milling the ore. Both of these aspects make the Ox Lake property desirable from an environmental point of view.