The Molly Mack prospect is located on the west side of Observatory Inlet about 7 kilometres south of Anyox. It has been examined recently for porphyry related molybdenum/gold mineralization.

The deposit is situated in an Eocene, northeast trending, 2.5 by 1.0 kilometre quartz monzonite stock (The Moly May stock) that has intruded Middle-Upper Jurassic Hazelton Group sediments and volcanics. A sequence of argillite, siltstone and greywacke underlie Granby and Bocking peninsulas north of the Moly May stock. Granodiorite of the Eocene Coast Plutonic Complex borders on the Moly May stock to the west. The Moly May stock is similar to other Alice Arm Plutonic Suite intrusions, which generally form small porphyritic molybdenum bearing bodies of quartz monzonite.

The deposit consists of four zones of molybdenite mineralization developed in a semicircular, 8000 metre long, 500 metre wide zone of altered and quartz stockwork-veined quartz monzonite (alaskite). The zones occur along the northern and western margins of the Moly May stock, peripheral to a core of unaltered quartz monzonite (alaskite). In this zone plagioclase and orthoclase are altered to kaolinite and sericite. Quartz vein stockworks are best developed near the mineralized zones.

The East zone, near the shore of Observatory Inlet, was discovered first. It consists of five major showings including the Molly Mack showing on the shoreline. Mineralization consists of disseminated pyrite in quartz veined aplitic pegmatite and associated biotite-rich granite. Mineralization occurs within a 300 by 100 metre zone of alteration in quartz monzonite. The pegmatite is likely a late stage of intrusion of the Moly May stock. Composite samples of rock chips have assayed between 14 parts per million and 0.254 per cent molybdenum (Assessment Report 10120, page 16). Gold values have ranged from 0.069 to 59.99 grams per tonne and silver values have ranged from 0.34 to 50.73 grams per tonne (Property File - Burton, 1987). Three drillholes intersected largely unaltered quartz monzonite with minor sulphides.

The West zone consists of twelve showings in a 200 by 250 metre zone of altered, quartz veined and molybdenum-iron oxide stained sericitic quartz monzonite. The West zone occurs about 700 metres west of the East zone. Mineralization consists of disseminations and blebs of molybdenite and pyrite in the altered quartz monzonite. Assays of composite samples of rock chips have ranged from 5 parts per million to 0.262 per cent molybdenum (Assessment Report 10120, page 11).

The South zone, 1.5 kilometres southwest of the West zone, consists of four showings containing up to 10 per cent disseminated molybdenite in heavily altered and silicified quartz monzonite. The molybdenite has been observed to replace biotite.

The Southwest zone, south of the South zone, was discovered and diamond drilled in 1988. Similar molybdenite mineralization containing significant gold values was intersected (A. Burton, personal communication, 1989).

In 2003, Consolidated ETC Industries Ltd. completed an option agreement to acquire a 100 per cent interest in five claims covering the Moly May occurrence. No exploration work has been specifically undertaken on the property since 1988. Regional stream sediment geochemical surveys carried out by the British Columbia Geological Survey Branch in the late 1990s sampled three streams that drain portions of the Moly 3 claim. These samples reported anomalous to highly anomalous values for molybdenum, gold, copper, zinc and lead. The company is mobilizing personnel to commence the first phase exploration on the property. The work will consist of shallow hole drilling and rock sampling to confirm and expand previously reported gold/molybdenum mineralization, soil geochemical and stream sediment sampling, and additional radiometric mapping (Press Release – Consolidated ETC Industries Ltd., June 30, 2003).