The ISLAND LAKE occurrence is located approximately 400 metres south of the southern tip of Island Lake, 9 kilometres north of the village of Eagle Creek and 40 kilometres northeast of 100 Mile House. The Island Lake area is part of the currently explored Iron Lake property, which also includes Cate (092P 182), Lisa (092P 222), Beer (092P 125) and July (092P 112) showings.

The area is underlain by a mafic and ultramafic intrusive complex (Iron Lake Complex) related to the Triassic to Jurassic Takomkane batholith. The area covers a strong positive regional aeromagnetic anomaly which is reflected on the ground by mafic alkalic intrusive rocks; pyroxenite, hornblendite and mafic diorite. Widespread disseminated chalcopyrite, magnetite, pyrite and pyrrhotite occur. Copper-rich sections in the pyroxenite were found in which chalcopyrite occurs with magnetite crystals within east-striking, quartz-carbonate material that contains bands of massive pyrite. The shear system material is rich in gold and cobalt (Assessment Report 11088). Interest in the property in the late 1980s and early 1990s was concentrated on anomalous platinum, gold and palladium values associated with the quartz-carbonate material (Assessment Reports 17672 and 19322).

In the late 1980s mapping, soil and rock geochemistry and drilling determined significant copper +/- nickel +/- platinum group element occurrences in quart-carbonate altered pyroxenite/hornblendite rocks of the Iron Lake Ultramafic complex, in an area extending from Iron Lake eastward to east of Island Lake. Low-grade disseminated platinum and palladium was identified in magnetite-rich phases of the Iron Lake Complex. Platinum plus palladium values range from background (less than 10 parts per billion) to anomalous values ranging up to 452 parts pr billion.

In 2001, prospecting by Eastfield Resources Ltd. identified a zone of mineralized olivine-pyroxenite boulders routinely grading 0.50 to 0.75 per cent copper, 0.40 to 0.75 gram per tonne gold and 0.30 to 0.60 gram per tonne platinum group metals (PR REL Eastfield Resources Ltd., July 18, 2002).

A 2005 drilling program around Island Lake encountered massive sulphide intercepts varying in thickness from 1.2 to 6.1 metres in two drill holes. The massive sulphide intercepts are largely pyrrhotite with lesser chalcopyrite with values of up to 0.343 per cent copper, 0.036 per cent nickel and 0.027 per cent cobalt over 17.0 metres starting at a depth of 32.9 metres, including 0.953 per cent copper, 0.093 per cent nickel and 0.130 per cent cobalt over 1.4 metres in hole 05-IL-03 (Assessment Report 28230; Morton, J.W. (2017-04-18): NI 43-101 Technical Report on the Iron Lake Property). Diamond drilling confirmed the presence of magmatic semi-massive to massive sulphide mineralization in four holes over a north-south strike length of 205 metres.

Drilling intercepts in 2006 included 0.543 per cent copper, 0.017 per cent nickel and 0.037 per cent cobalt over 2.3 metres in hole 06-IL-05 (Assessment Report 29078; Morton, J.W. (2017-04-18): NI 43-101 Technical Report on the Iron Lake Property).

In 2022, the Island Lake prospect was drilled along a strike length of 180 m, identifying significant pegmatite-hosted nickel and copper mineralization in the immediate area of the zone, as well as nickel mineralization in an area located three kilometres to the west-northwest. Drilling highlights at the prospect include intercepts of 0.30 per cent copper and 0.045 per cent nickel over 2.39 metres (DDH IL-22-01) and 0.39 per cent copper and 0.021 per cent nickel over 3.18 metres (DDH IL-22-18) (Assessment Report 41327).

In 2023, diamond drill hole IL-23-024 intersected two narrow massive sulphide layers at 530 and 537 metres downhole. These layers were 16 centimetres and 21 centimetres wide respectively. Two additional massive sulphide layers were intersected at 572.17 and 576.94 metres downhole. These formed a 1.8 metre pyrrhotite-rich interval and a 1.59 metre wide pyrite dominated interval, respectively. Assay results for a 9.5 metre interval spanning across both of these lower massive sulphide intersections graded 0.42 per cent copper and 0.034 per cent nickel, from 569.0 m to 578.5 metres downhole.

WORK HISTORY

Past exploration on the Property has focused on three main areas: the Iron Lake area (Island Lake and Susan Lake showings); the Succour Lake area (Cate and Lisa showings); and the Roger Lake area (Beer and July showings). The Iron Lake property was originally explored in the 1970s and has been held by Eastfield since the 2000s.

In October 1972, Pickands Mather and Company staked the Sheri claims, extending from Iron Lake eastward to east of Island Lake, in order to evaluate the area for copper porphyry potential. From 1972 to 1974, Pickands Mather conducted an exploration program including magnetometer, induced polarization and soil surveys, a mercury vapour survey, geological mapping and eight BQ diamond-drill holes for a total of 694 metres surrounding Island Lake. H.J. Wahl gained ownership of the Sheri property, and in 1976 undertook a program on the claims including prospecting, geological mapping, soil sampling and trenching.

In 1983, J.W. Morton staked the Ironhorse claims to cover the old Pickands Mather copper anomalies and ran ground electromagnetic and limited rock chip sampling. In 1984, R.M. Durfeld examined the property for Reliant Resources. In 1985, J.W. Morton relogged and sampled core from the Pickands Mather 1974 drilling program, re-analysed it using multi-element methods, and found some anomalous values for gold and platinum. The Horse claim was staked in June 1987 by G.L. Garratt and optioned to Relay Creek Resources. In 1988, Canevex Resources Limited completed a soil and rock geochemistry program. G.R. Peatfield examined the property and found an anomalous platinum value in a quartz-carbonate alteration zone. In 1989, Cepeda Minerals Incorporated, under option with Canavex Resources Limited, conducted a program of soil sampling and continued resampling core from the 1974 drill program on the Canim property. Canavex Resources Limited ran induced polarization and magnetometer surveys over geochemical and geological features located during the 1989 program. These surveys were extended in 1991 to cover the area between Iron Lake and Beverly Lake

Eastfield acquired the database of the Iron Lake property and staked the Iron Lake 1 - 16 and Norilsk 1 - 5 group of mineral claims in 2000. Prospecting during 2001 near the centre of an area anomalous in platinum from soil sampling resulted in the discovery of several angular mineralized boulders in the glacial till. In 2004, Argent commissioned a 603-kilometre airborne geophysical survey on the Iron Lake property, from which several electromagnetic conductors were detected. An initial program of diamond drilling was completed in March 2005, in which four holes totalling 504.7 metres were drilled.

In 2006, a diamond drill program totalling 681 metres over five holes was completed surrounding the south end of Island Lake. Results showed that the Iron Lake property had potential for copper and perhaps nickel massive sulphides (cobalt rich) and also for weakly sulphide-mineralized ultramafic rock containing economic concentrations of copper, gold, palladium and platinum.

In November 2008, Cobre Exploration Corporation funded a geochemical soil sampling program on the Iron Lake property, entailing the collection and analysis of 478 soil samples. Results indicated an area of elevated magnesium content in soil with associated copper and platinum anomalies (Assessment Report 30800).

In 2011, a program of rock sampling and induced polarization (IP) and magnetometer surveying was completed by Eastfield Resources in the Iron Lake to Beverly Lake area. A number of new anomalies were apparent in this work. Two significant chargeability anomalies and a total magnetic field anomaly stood out (Assessment Report 32717).

In 2012, an exploration program including an expansion of 23.9 kilometres of IP-magnetometer surveying and rock sampling was completed. The results of this work included the discovery of two strong IP chargeable and magnetic targets in the ultramafic rocks and two chargeable and magnetic anomalies. All rock samples were similar in their petrology and metal content. The average of eight samples collected was 0.71 per cent copper, 0.7 gram per tonne gold and 324 parts per billion platinum and palladium combined (Assessment 33704; V STOCKWATCH, February 28, 2013).

During 2013 through 2020, Eastfield Resources Ltd. completed programs of prospecting, geophysical, and rock and soil sampling in the area as part of the Iron Lake property. Work completed by Tech-X Resources in 2021 included an airborne EM-Mag survey, a LiDAR survey, hand trenching, rock sampling, geological mapping and petrography across several areas of the Iron Lake property (Assessment Report 39870).

In 2022, Tech-X Resources and Eastfield Resources completed 48.3 line kilometres of induced polarization on their Iron Lake property, including the Island Lake area (Assessment Report 40980). In the same year, the area around the Island Lake prospect was targeted with geological mapping, soil and rock sampling and 5001 metres of NQ diamond drilling in 23 holes (Assessment Report 41327). In 2023, 205 line kilometres of time domain EM were flown over the Island Lake area and 1670 metres of NQ diamond drilling was completed in 3 holes (Assessment Report 41800).