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lik project

History

The Red Dog ore deposit was originally discovered in 1970 by a geologist undertaking mapping in the De Long Mountains area on behalf of the United States Geological Survey.

GCO Minerals Company ("GCO"), in joint venture with New Jersey Zinc Company and WGM Inc, ("WGM"), carried out stream geochemical sampling and reconnaissance for colour anomalies. Claims were staked in July 1976 to protect a stream geochemical anomaly on LIK Creek. Houston OIl and Minerals Exploration Company replaced New Jersey Zinc Company in the joint venture in 1976/1977.

Diamond drilling on the LIK property commenced in 1977 and targeted a gossan with a coincident soil and electromagnetic anomaly. The first hole encountered massive lead-zinc-silver-bearing sulphides. By the end of 1977, the joint venture had completed 40 line-kilometres of ground geophysics, a soil sampling program, and ten diamond drill holes with an aggregate depth of 1,603 m. In 1978, further geological, geochemical and geophysical surveys were carried out, together with the drilling of another 79 diamond drill holes aggregating 10,680 m. A further 14 diamond drill holes with a total depth of 4,931 m were completed in 1979 and a mineral resource was estimated.

The joint venture continued to work in the district in the period 1980 to 1983. As the joint venture held a large number of claims outside the existing LIK property, work was concentrated on other targets in some of those years. However, limited diamond drilling activity continued on the LIK property. The LIK Block Agreement was signed in 1984.

In 1984, Noranda Exploration, Inc. ("Noranda") optioned the LIK property. Much of Noranda's activity was concentrated in the LIK North Area where ten diamond drill holes with an aggregate depth of 4,180 m were completed on four sections. Noranda also drilled holes in the LIK South deposit to better define "mineable high grade reserves". Noranda released its interest in the LIK property after a re-organization of its holdings in the United States.

Moneta Porcupine Mines Inc. ("Moneta") optioned the property in 1990 and together with GCO completed three diamond drill holes aggregating 263 m. The purpose of the Moneta drilling was to obtain metallurgical samples, but there are no records of any significant metallurgical work having been completed by Moneta. GCO drilled two additional diamond drill holes in 1992, but there were no additional drilling activities thereafter, until Zazu commenced drilling in 2007.

All of the diamond drill campaigns prior to Zazu's are summarized in the table below.

Diamond Drilling Campaigns
 
Year
Number of Holes
Aggregate Depth (m)
Company
1977
10
1,603.3
Managed by WGM
1978
79
10,680.2
Managed by WGM
1979
14
4,931.1
Managed by GCO
1980
3
202.1
Managed by GCO
1983
1
835.2
Managed by GCO
1984
6
1,643.5
Managed by GCO
1985
16
4,883.1
Managed by Noranda
1987
1
696.5
Managed by GCO
1990
3
263.4
Managed by Moneta
1992
2
283.5
Managed by GCO
Totals
135
26,236.6