Molybdenum – Nithi Mountain, British Columbia
The Nithi Mountain Molybdenum property is located in central British Columbia 8 km south of the Town of Fraser Lake. Fraser Lake is along the Yellowhead Highway and the main CN rail line leading to the port of Prince Rupert. The property is readily accessible via logging roads and various exploration trails. A large transmission power line passes a few kilometers to the north of the claims. The Endako Molybdenum Mine is currently under care & maintenance and lies about 18 km west-northwest of the property. The Endako Mine processed up to 50,000 tonnes per day of 0.05% Molybdenite. It was in production from 1965 to 2015, and currently has a fully permitted facility with a new mill and roaster. The proximity of the new mill and roaster may be of interest to a potential buyer plus the rail, power and town site makes development relatively easy.
Mineralization on Nithi Mountain is classified as a low fluorine, porphyry molybdenum type. The mineralization is hosted by the Nithi and Casey intrusive phases of the Francois Lake intrusive suite. The geology, style of mineralization, nature of associated alteration, all bear a strong resemblance to the adjacent Endako Mine.
Previous exploration has included soil sampling, trenching, IP surveying, and both diamond and percussion drilling. Significant results to date include diamond drillholes with 107 to 115 m of 0.1 % MoS2. Overall grade and tonnages are found in the appended reports. Leeward acquired the property in 2003. Exploration by the Leeward began in the fall of 2004 and extended to 2011. Work included geological mapping, rock sampling, and airborne geophysical surveying (magnetic, radiometric, resistivity and Lidar) of the property. In addition, a comprehensive GIS database was assembled. This included the compilation of over 2,500 soil sample results, rock sample results, geology, and drill hole data.
Further drilling is recommended to concentrate on mineralized zones associated with “shells” or smaller cupolas at depth within the Nithi Quartz Monzonite as indicated by the airborne geophysical survey. A summary report is currently in preparation with recommendations for further work required at Nithi.