Eureka is earning a 100% interest in the CKN property.
The CKN property is adjacent to the Gibraltar mine in the Cariboo Mining Division of British Columbia. The property consists of two mineral claims covering 1,356 hectares, and is accessible by road from Williams Lake. Access is possible year round with the optimum time for field work from early spring to late fall. The CKN property is well located with excellent local infrastructure.
The claims are located adjacent to the northeast boundary of the Gibraltar copper-molybdenum mine currently operated by Taseko Mines Ltd. The Gibraltar mine commenced operations in 1972 and has mined in excess of 450 metric tonnes, grading 0.33% copper and 0.008% molybdenum. Eureka acquired the CKN claims because they are centred on a very strong magnetic feature along the contact of the Gibraltar host batholith and the Cache Creek sedimentary sequence. The magnetic feature is synonymous with skarn deposits, similar in nature to the Craigmont deposit in the Highland Valley. Exploration to date on the CKN property identified copper values in rocks from trace up to 13,967 ppm and gold values in soils from trace up to 4.8 grams per tonne. Notwithstanding the foregoing, the CKN property has never been systematically mapped or sampled so readers should not assume that the property will have the same, or similar, mineralization as the Craigmont or Gibraltar deposits.