The Lone Pine (Alaskite) occurrence is located near the north east side of Fishpan Lake, approximately 14 kilometres north of the community of Houston.

The Lone Pine showing area is primarily underlain by a sequence of northwesterly striking andesitic flows and pyroclastics, with lesser rhyolite and basalts, of the Lower Jurassic Telkwa Formation (Hazelton Group). Some minor sedimentary rocks of the Upper Jurassic Bowser Lake Group have been noted to be present in discrete locales, and these are typically argillites, quartzite, and greywackes with local calcareous content. All of the aforementioned rocks are altered or hornfelsed, proximal to the contacts of intrusive rocks of the Late Cretaceous Bulkley Plutonic Suite that outcrop in the southern and western portions of the property, and which may underlie a thin veneer of hornfels elsewhere. In the northern Quartz Breccia zone (093L 335) the hornfels is chloritic, exhibiting a greenish hue, while in the Alaskite zone the hornfels are compact and biotitic. It was estimated (ca. 1987) that the area of hornfels alteration covers an area of approximately 2000 by 2500 metres. In 1984, a trachytic flow on the upper plateau of Mineral Hill was reported to resemble the Tertiary Goosly Lake Volcanics which have been mapped elsewhere in the general area.

On the property the principal intrusive rocks are a porphyritic quartz monzonite (referred to in the literature as “quartz feldspar porphyry”), and the lesser alaskite to the south, and finally a diorite intrusive rock is noted to the east of the Mineral Hill area which is to the east of the Alaskite zone. Local aplitic and monzonitic dikes are found in the area of the quartz monzonite stock.

A mineralized breccia (Quartz Breccia zone, 093L 335) with siderite cement has been noted to have been formed locally on the property near the northern margin of the main intrusive body. Quite often around the margins of the intrusions drillholes intersected alternating hornfels, and intrusive rocks of varying types. This pattern may be the result of dikes forming on the periphery of the intrusion, apophyses, sills, or possibly even large xenoliths (if hornfelsing can be shown to be a product of earliest intrusion) of hornfelsed sedimentary or volcano-sedimentary rock.

It has been postulated (ca. 1987) that as a result of increased brittleness due to contact metamorphism, and fracturing due to forcible emplacement by one or more phases of intrusive, the hornfels became a permissive host for fracture controlled vein emplacement and local disseminated molybdenum/copper mineralization.

The Lone Pine property is classified as a low fluorine porphyry molybdenum deposit. These deposits are characterized by stockworks of molybdenite-bearing quartz veinlets and fractures in intermediate to felsic rocks and associated country rocks.

The Alaskite zone is named for the white, fine to medium grained quartz feldspar porphyry intrusive that was recognized and mapped in outcrop in 1967 as Alaskite. Molybdenite mineralization is common in the Alaskite and the hanging wall and footwall andesite. Molybdenite appears in quartz stockwork, as veining with fine grained quartz and dry molybdenite veins and crackles, up to 5 millimetres in size, preferentially at 45 degrees to core axis, and as linings from 0.5 to 4 millimetres of quartz veins up to 5 centimetres in width. Quartz veins, up to 50 centimetres in width, often show pods and flakes of molybdenite together with pyrrhotite, pyrite and minor chalcopyrite. Alaskite veins in andesite often show quartz veins in the centre and molybdenite linings in the centre of the vein. Disseminated molybdenite occurs in some biotite-rich and frequently in chlorite-rich portions, in K-feldspar rich Alaskite, in fine grained dark gray pods, up to 15 centimetres wide, within the Alaskite, and in places together with pyrrhotite in biotite-rich purple andesite.

Crosscutting relationships indicate at least four phases of mineralization: initial stockwork veining; quartz-molybdenite veining with pyrite; quartz-molybdenite veining with pyrrhotite +/- pyrite; quartz veining with veins at 45 degrees to core axis, up to 50 centimetres wide, with pods and flakes of molybdenite and some thin linings.

Chalcopyrite appears as small flakes together with pyrite and pyrrhotite in quartz veins, 0.5 to 1.0 centimetres wide, at 30 to 45 degrees to core axis. Sphalerite forms beige to brown crystal aggregate pods up to 3 centimetres in quartz veins. Sparse Molybdenite forms with sphalerite. Rare occurrences of tetrahedrite appear with galena in rather large pods, up to 4 centimetres, in quartz veins. The late calcite veining event appears to be barren. Rare sphalerite has been noted in thin, less than 3 millimetres wide, calcite veins. The grade of mineralization is related to structural features rather than rock type. The highest grade is recorded from rocks showing all four phases of mineralization.

In general, the alaskite shows weak to moderate sericite alteration of the feldspars, and the andesite shows either chlorite alteration resulting in greenish coloured rock or shows biotite alteration resulting in brown coloured rock. Dark brown portions of the andesite tend to show propylitic epidote-garnet-chlorite alteration indicating a calcium and aluminum rich magnesium-iron precursor rock composition. In addition, the andesite shows moderate to strong silicification in main portions of the sections.

Drilling on the Alaskite zone has confirmed a higher grade molybdenum core within a larger, approximately 550 by 310 metre, mineralized body that has a northwest/southeast attitude and a steep southwesterly dip.

Another zone of mineralization, referred to as the 61 zone, is located approximately 500 metres to the north east of the Alaskite zone along the northern contact of the quartz feldspar granite. Drilling, in 2010, intersected intervals of vein hosted molybdenum mineralization over a strike length of approximately 110 metres in an east-west direction and a vertical depth of 350 metres. Drilling indicated that the northern contact is separated into a series of alternating quartz feldspar and alaskite intrusive with intervening sections of hornfels volcanics.

Work History

The Lone Pine (093L 028), Huber (093L 027), and Mineral Hill (093L 336) area has a long history of mineral exploration. First mention of the prospect appears in the Minister of Mines Annual Report for 1914 wherein they state that Messrs. Bussinger, Barrett and McCormack have sunk a shaft on the property to a depth of 4.9 metres on a narrow silver-lead-zinc-copper-gold bearing quartz vein. Additional veins discovered in the 1920s were explored by opencuts and short adits.

No further mention is made of the area in any of the literature until 1959, when William Merkley performed some caterpillar stripping and trenching. At this time, open ground in the area was acquired through staking by P.J. Huber. Huber increased his holdings in the area in partnership with W.D. Yorke-Hardy between 1959 and 1962. Southwest Potash Corporation (later Amax) examined the property in 1960, and optioned the ground in 1962. Amax conducted geological, geochemical, and magnetometer geophysical surveys over the Alaskite zone (093L 028) in the southern portions of the property. Drilling, blasting and chip sampling was undertaken on mineralized outcrops elsewhere on the property. Canex Aerial Explorations Ltd. optioned the property in 1964, completing geological mapping and soil geochemical surveys in the Alaskite zone area. In 1965, Molymine Explorations Ltd. became involved in the property initiating an aggressive exploration program which focused primarily on ground surrounding the Alaskite and Quartz Breccia (093L 335) zones over a four-year period from 1966 to 1969. The work completed by Molymine Explorations collectively represents the most extensive historical exploration program undertaken on the property. In 1965, Molymine completed 11.41 kilometres of induced polarization (IP) surveys highlighting a broad area of high chargeability interpreted to be associated with disseminated mineralization. In 1966, Cominco optioned the property and completed property-scale mapping followed by a trenching program and the completion of eight drillholes. During the time of Molymine’s involvement with the Lone Pine property, a total of 1077 soil samples and 84 silt samples were collected, the Quartz Breccia and Alaskite zones were mapped, and a total of 1006 metres of trenching and stripping was completed on the Quartz Breccia zone with 915 metres completed in the Alaskite zone. Ten diamond-drill holes were completed in the Quartz Breccia zone and two in the Alaskite zone; 102 percussion-drill holes totalling 2882 metres were completed in the Alaskite-Quartz Breccia zone areas.

No further work was apparently carried out by Molymine Explorations following the 1969 field programs and the claims were forfeited in 1971. In 1976, Granby Mining optioned the property following encouraging results from a short soil geochemical survey in a previously unexplored area (Granby zone, 093L 027) east of the Quartz Breccia zone. In 1976, Granby completed 682.72 metres of percussion drilling in 12 vertical holes drilled to a maximum depth of 60.96 metres. The bulk of this drilling was done in the Granby zone; one percussion-drill hole (M-7) was located approximately 1.0 kilometre east of the Alaskite zone central to Mineral Hill. Generally, low grade molybdenum grades were intersected with best results from the 12-hole drill program reporting from percussion hole M-3 yielding 0.30 per cent MoS2 over 18.29 metres or 0.18 per cent MoS2 over 33.53 metres. In 1978, Granby returned to the property following the completion of soil, magnetometer and induced polarization surveys. Encouraged by soil geochemical and prospecting results centred on Mineral Hill (Mineral Hill zone, 093L 336), Granby completed a seven hole (M-13 through M-19) vertical percussion drill program totalling 515.3 metres. The results of the seven-hole percussion drill program generally returned low molybdenum values with best results reporting 0.028 per cent MoS2 over 85.4 metres in percussion hole M-14. In addition to the 1978 percussion drill program, three core holes were completed on the property. One angled BQ drillhole (G78-3) was completed in the Mineral Hill zone to a depth of 172.9 metres intersecting low grade molybdenum mineralization. Best results from drillhole G78-3 yielded 0.045 per cent MoS2 over 26.3 metres from 128.7 to 155 metres depth. The two remaining vertical NQ core holes evaluated the Quartz Breccia zone (78-1) (093L 335) and Alaskite zone (78-2) (093L 028). Vertical diamond-drill hole 78-1 intersected continuous molybdenum mineralization over its entire core length from 20.7 metres to the end of hole at 377.3 metres assaying 0.062 per cent MoS2 over 356.6 metres. Vertical drillhole 78-2 intersected continuous mineralization throughout its length from 3.6 metres to end-of-hole at 352.3 metres assaying 0.057 per cent MoS2 over 348.7 metres. Both 78-1 and 78-2 drillholes terminated in molybdenum mineralization (Assessment Report 30735). A 10-metre drill sample assayed 41.83 grams per tonne silver, 0.04 per cent copper, 1.83 per cent lead and 1.27 per cent zinc (Assessment Report 7117).

In 1979, Noranda Exploration Company Limited purchased the assets of the Zapata Granby Corporation, and thus assumed Granby’s obligations and rights under the Huber option agreement. In 1981, 5.5 kilometres of VLF-EM geophysical surveying and prospecting over the southern and western portions of the property failed to extend the known mineralized zones and Noranda allowed their option to lapse in early 1983. In the same year, Noranda re-optioned the Mineral Hill Property to evaluate the eastern portions of the claim group for either “Sam Goosly” (Equity Silver, 093L 001) or volcanogenic massive sulphide (VMS)-style mineralization. A total of 33.2 kilometres of line cutting was established over which 352 soil samples were collected and 5 kilometres of HLEM, 6.82 kilometres of magnetometer, 5.65 kilometres of VLF-EM and 2.7 kilometres of IP geophysical surveys were completed along with 19 line kilometres of geological mapping. Despite the generally positive results no further work was conducted and Noranda terminated their option in 1984. In 1985, Daffrey Resources optioned the property and embarked on a program of trench rehabilitation and re-sampling in the Quartz Breccia zone, and evaluated old workings on silver-bearing quartz veins to assess the precious metal potential of the property. The sampling program was followed by a 12-hole percussion drill program in the Alaskite and Quartz Breccia zones.

In 1987, Southern Cross Gold Inc. assumed the Daffrey option and continued to evaluate the property for its precious metal potential. Southern Cross completed an eight-hole NQ drill program totalling 521.8 metres with three holes located in the Quartz Breccia zone, four holes in the Alaskite zone and one isolated drillhole located several hundred metres west of the Alaskite zone.

In 1991 and 1992, Messrs. Lorne Warren and P.J. Huber completed limited soil sampling programs from which a number of copper/molybdenum point soil anomalies were recognized, some of which are coincident with elevated gold, silver, lead and zinc soil geochemical results. The claims covering the Lone Pine Project area were allowed to lapse in 1999.

In 2002, Daniel and William Merkley of Houston B.C. staked the first Lone Pine claims. From 2003 to 2006, the claims were held in good standing with the filing of assessment work comprising road and trail rehabilitation, prospecting and rock sampling. In 2006, Bard Ventures Ltd. optioned the property from Daniel and William Merkley.

During January and February 2007, Bard Ventures Ltd. completed its initial drill program comprised of seven NQ holes totalling 2836.4 metres. Two holes were drilled in each of the Alaskite and Quartz Breccia zones and three holes were completed in the area between the two zones. Additionally, in late 2007, Bard Ventures completed 16 NQ drillholes in the Alaskite zone; another 16 drillholes between January and April 2008 (nine in the Alaskite zone, five in the Quartz Breccia zone and two in the Granby zone) and finally, a third phase of drilling; occurring between and July and October 2008, saw 16 drillholes drilled in the Alaskite zone. A total of 48 NQ holes were drilled during this period totalling 24,175.9 metres.

In January of 2009, the company released a combined measured and indicated resource estimate of 110.34 million tonnes grading 0.083 per cent molybdenum and inferred resource of 25.84 million tonnes grading 0.088 per cent molybdenum, calculated at a 0.04 per cent cut-off. Estimates were for the Alaskite zone (Stockwatch News Release January 22, 2009; Technical Report for Bard Ventures Ltd. dated March 1, 2011 www.sedar.com). Bard Ventures Ltd. also completed a soil sampling survey, geological mapping and diamond drilling in 2009.

In 2010, Bard Ventures Ltd. completed a soil sampling survey, geological mapping, grab sampling and diamond drilling. Bard Ventures intersected a new molybdenum zone; drilling of nine holes targeted on a soil geochemical anomaly resulted in discovery of the 61 zone, 500 metres northeast of the Alaskite zone. Drilling yielded intervals averaging up to 0.05 per cent molybdenum over widths of up to 112.4 metres with higher grade sections averaging 0.1 per cent molybdenum over widths of 9.0 metres (Puritch, E., Rodgers, K. (2011-03-01): Technical Report and Preliminary Economic Assessment on the Lone Pine Project). Intervals of silver enrichment associated with the granite intrusive were also encountered yielding up to 12.51 grams per tonne silver over 37.2 metres, while vein-hosted mineralization yielded up to 134.6 grams per tonne silver, 1.465 per cent copper, 0.712 per cent lead and 2.17 per cent zinc over 0.9 metres (Puritch, E., Rodgers, K. (2011-03-01): Technical Report and Preliminary Economic Assessment on the Lone Pine Project).

In early 2011, Bard Ventures Ltd. released an updated resource estimate which showed a measured resource of 33,356,000 tonnes grading 0.092 per cent molybdenum and containing 30,687 tonnes of molybdenum, an indicated resource of 76,984,000 tonnes grading 0.079 per cent molybdenum and containing 60,817 tonnes of molybdenum, and an inferred resource of 25,840,000 tonnes grading 0.088 per cent molybdenum and containing 22,739 tonnes of molybdenum, calculated using a 0.04 per cent molybdenum cut-off grade (www.sedar.com). Later in 2011, Bard Ventures Ltd. completed diamond drilling on the Lone Pine property. Highlights include drillhole BD-11-67, which intersected 573.4 metres grading 0.1 per cent molybdenum (Press Release - Bard Ventures Ltd., September 6, 2011).

In 2015, a detailed soil sampling program was carried out over the Quartz Breccia zone on behalf of Bard Ventures Ltd. Sampling consisted of both B-horizon and MMI (Mobile Metal Ions) methods with the focus to compare the two analytical procedures over the same sampled areas. A total of 40 samples were taken and analysed.