Stratabound copper occurs in greenstone rocks of the Triassic age called the Seven Devils volcanics. The mine is a former copper producer in the Seven Devils Mining District. The Company has staked additional unpatented mining claims adjacent to the patents.
The Copper Cliff mine had a resource of 2.8 million tons at 1.5% Cu with a silver credit. The property was mined by an open pit cut and then by underground methods. Some portion of this historic resource may be left unmined.
Mineralization is composed of chalcopyrite, bornite, and chalcocite with hematite and ilmenite. The Company plans to run IP geophysics which should produce a drill target at depth that would produce ore grade drill results. The area has good road coverage and access.
The negatives are that the property is on USFS land and near the Hells Canyon National Recreation Area. The topography is extremely steep. Structure of the Seven Devils volcanics is complex and the units are standing on end.
The acquisition of the lease on the patented claims greatly mitigates the permitting and operating risk so long as surface operations are mostly confined to the private, patented claims. The Company intends to undertake the IP program in early summer and initiate a drill program in the late summer. If this initial drilling is successful, this project could become an additional focus project for the Company.