Overview
The Company purchased all of the shares of Craigmont Holdings Ltd. (now Huldra Holdings Ltd.) on May 5, 2011. Huldra Holdings holds real property, mineral claims and mineral leases, referred to herein as the Mill Property, covering approximately 8,400 hectares, located in south central British Columbia, approximately 10 kilometers west of Merritt. The purpose of the acquisition was to construct a mill facility on the permitted site of the former copper producing mine to process the ore from the Treasure Mountain Mine, which is located approximately 100 km away.
The Company underwent the necessary engineering and environmental work to file a permit amendment application to the existing Mines Act Permit on October 31, 2011. The permit is currently under final review.
The Company began the civil work on the Mill Property in early November, 2011. All of the necessary mill equipment and building components are now on site. The development to date consists of the following;
• the tailings pond has been excavated with dams and access roads in place;
• hydro power has been connected to the mill building (after the installation of 2.4 km of new hydro lines) and the substation is onsite awaiting final connection;
• the exterior primary and secondary crushing pads, along with structural steel, have been completed;
• the screening plant pad and structural steel have been completed; and
• the main mill building and equipment foundations are 90% complete.
The Company is currently evaluating 65 years of historical exploration data we have received pertaining to the Mill Property. An exploration plan and a NI 43-101 technical report are in progress.
