The location of the project, in close proximity to the ocean which serves as an abundant source of process water, combined with very high solar evaporation rates creates an ideal opportunity for the implementation of low cost solution mining and brine solar evaporation recovery techniques for the recovery of soluble minerals such potash, other fertilizers and related minerals.
Cleaver / Douglas Properties
The Cleaver Property currently consists of 13 contiguous unpatented mining claims containing of 192 claim units and covering 3,072 ha. Those are located approximately 47 km south of South Porcupine, Ontario and approximately 15 km south of the Langmuir Property. The property lies within the northeastern portion of Cleaver Township, the southeastern portion of Fallon Township, the southwestern portion of Fasken Township and the northwestern portion of McNeil Township, Porcupine Mining Division, District of Cochrane, Ontario.
The Douglas Property initially consisted of five contiguous unpatented mineral claims covering 552 hectares and lying approximately 2.5 km west of the Cleaver Property. In the last quarter of fiscal 2009, an addition six claims, made up of 88 claim units, all surrounding the Douglas Property and tying it together with the Cleaver Property, were staked. Together, the properties make up a single tract covering approximately 12, 400 hectares. The former Texmont Nickel Mine is located approximately 9.6 km to the west-southwest of the Douglas Property.
In November 2008 the Corporation acquired all of the issued and outstanding securities of 1691063 Ontario Ltd. 1691063 Ontario Ltd. owns a 100% interest in the Desrosier Property. That property is located in Desrosiers Township, Ontario, and lies approximately 150 km southwest of the City of Timmins. The property, at the time of acquisition, contained 6 contiguous unpatented mining claims, consisting of 42 claim units covering approximately 680 hectares. The property lies in a treed and rugged terrain requiring extensive line-cutting work for surface surveys.
The property hosts quartz - feldspar pegmatites and pegmatitic veins that contain molybdenite concentrations of potential economic value along with elevated concentrations of bismuth and silver. Previous work has reported a total of 33 showings or occurrences, four (4) of which have been the subject of systematic work including trenching, stripping and drilling.
Barton Syndicate/Dry Fork Property
The Barton Syndicate/Dry Fork Property, optioned by the Corporation in 2004, contains 31 contiguous lode claims and lies 6.4 KM north-northwest of Kennecott's Bingham Canyon copper-gold-molybendite mine and within 600M of Kennecott's past producing Melco and Barneys Canyon gold mines. In the period from 1988-2001, production from the two mines aggregated approximately 1.4 Million ounces of gold. The property has indications of potentially significant resources.
Due to scheduling issues, the Corporation has been unable to undertake its planned surface magnetic testing on the Dry Fork Property in Utah. However, that testing is still in the Corporation's planning for the work season of 2013.
The Corporation has, as at December 31, 2012, approximately $3.79 million in working capital. In addition to its working capital, the Corporation recently completed a private placement of 6,350,000 units at price of $0.10 per unit for gross proceeds of $635,000. Each unit is comprise of one (1) common share and one-half (1/2) of one common share purchase warrant (the "Warrant"). Each Warrant entitles the holder thereof to acquire a common share at an exercise price of $0.12 per share at any time until February 22, 2015.
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