The Montrose occurrence is located on the northeast side of Lydden Creek, about 1.9 kilometres northwest of the confluence of Lydden Creek with American Creek, 19 kilometres north of Stewart. The prospect straddles the boundary between the Moccatrose (Lot 76) and Watterloo (Lot 79) claims.

The area is underlain predominantly by north striking, west dipping andesitic tuffs, agglomerates and minor flows of the Lower Jurassic Unuk River Formation (Hazelton Group) (Bulletin 58; 63). North to northwest trending diorite and lesser quartz monzonite dikes of the Portland Canal dike swarm are conspicuous near the Montrose, Waterloo and Waterpump zones (Assessment Report 17465). The area is intensely fractured and faulted. Both north and east trending faults are present; east trending faults are especially prominent and exhibit sinistral transcurrent movement. These faults may have disrupted a previously continuous mineralized zone into the Montrose and Waterpump (and Waterloo?) zones (Assessment Report 17465).

The Montrose zone, reflected by a conspicuous 25 by 35 metre gossan zone, comprises two lenses, the Nos. 1 and 2 lenses. These are separated by a series of faults and a 3 to 6 metre wide diorite dike. The lenses contain 5 to 50 per cent fine grained disseminated to massive pyrite, lesser sphalerite and galena, and minor chalcopyrite in a quartz-sericite-carbonate alteration zone.

The No. 1 (Main) lens, striking 350 degrees and dipping 80 degrees west, outcrops over a length of 11 metres, height of 9 metres and width of 3 metres. The No. 2 lens lies about 10 metres northwest of the No. 1 lens (Property File - Mandy, 1939).

The No. 1 lens contains the best values. In 1987, sampling near the adit assayed up to 7.2 grams per tonne gold, 7.2 grams per tonne silver, 0.94 per cent lead, 0.44 per cent zinc and 0.26 per cent copper across 3.8 metres (Assessment Report 17465). A sample from the fault gouge separating the Nos. 1 and 2 lenses assayed 19.2 grams per tonne gold across 0.70 metre (Assessment Report 17465).

Drilling intersected subvertical quartz-pyrite veins, with minor chalcopyrite, that apparently project west of the No. 2 lens. The best drill results were from hole 87-M-2 which intersected up to 8.5 grams per tonne gold over 1.7 metres (Assessment Report 17465). Minor sphalerite-galena veins, in association with amethystine quartz, also occur near these drill intersections.

Several other mineralized occurrences are known in the area of the Montrose prospect. The more important of these are the Waterloo and Waterpump zones.

The Waterloo zone lies about 150 metres northwest of the Montrose zone. It comprises a series of mineralized occurrences, along an east-northeast trend for 250 metres, parallel to the local faulting. The individual occurrences mainly comprise 2 to 7 per cent (locally up to 40 per cent) coarse-grained pyrite as disseminations and locally, massive veins, in silicified and sericitized volcanics.

Silicification consists mainly of quartz veining, but also includes quartz flooding. Chalcopyrite is conspicuous in the more pyrite-rich areas. Towards the east end of the zone, mineralization is formed mainly by quartz-pyrite veins and shear zones containing massive fine-grained pyrite. The main quartz-pyrite vein, 0.4 to 0.8 metre wide, can be traced for about 7 metres vertically. In 1987, samples from the Waterloo zone assayed up to 1.920 grams per tonne gold and 240.2 grams per tonne silver (Assessment Report 17465). Elevated copper, silver, lead, arsenic and bismuth values are associated with the anomalous gold values (Assessment Report 17465).

The Waterpump zone is about 100 metres southeast of the Montrose zone. The North Waterpump zone is located about 25 metres north of Lydden Creek. It comprises a 10 centimetre wide, massive pyrite vein which strikes 122 degrees and dips vertically. The vein is hosted in pyritic and sericitic mafic tuff. In 1987, a sample across the vein assayed 50.4 grams per tonne gold across 0.50 metre; silver and base metal values were negligible (Assessment Report 17465).

The main portion of the Waterpump zone straddles Lydden Creek. Higher grade mineralization occurs on the south side of the creek where mineralization is hosted in sericitic mafic tuffs. Alteration is most intense adjacent to a north-northwest trending 2 to 3 metre wide diorite dike. Alteration, accompanied by 1 to 3 per cent finely disseminated pyrite, extends about 10 metres from the dike margins. Adjacent to the dike, 1 to 3 centimetre wide quartz-pyrite veins form a stockwork. Pyrite in these veins is coarse grained and accompanied by minor chalcopyrite. In 1987, samples from east of the dike assayed up to 21.2 grams per tonne gold across 4.2 metres; the high gold values are associated with high copper and elevated zinc, silver and arsenic values (Assessment Report 17465).

In early 2018 the Montrose zone was characterized as a plunging structure with at least 600 metres of strike length, 400 to 500 metres of height, up to 20 metres in width and open to depth and along strike. The Montrose zone is part of a large mineralized structure identified over 2.3 kilometres of strike length on the property that has been offset by a fault along Lydden Creek.

WORK HISTORY

The Moccatrose and Watterloo claims were originally held by Lydden, Pederson, McDonald and Peardon as part of the Red Cliff group in 1908. The Montrose, Waterloo and Waterpump zones were likely discovered at that time. That year the claims were sold to Smith who formed the Red Cliff Mining Company. No further work was reported on the Moccatrose and Watterloo claims until 1921 when Trites, Woods and Wilson purchased the claims and conducted minor work on the Montrose and Waterloo occurrences. From 1939 to 1941, Haywood purchased the claims and worked on the Montrose occurrence, including the emplacement of two(?) adits. The following shipments were made from the Montrose zone from 1939 to 1941 (Assessment Report 17465): a) 4.8 tonnes grading 102.5 grams per tonne gold, 349.7 grams per tonne silver and 0.2 per cent copper, b) 35.4 tonnes grading 91.9 grams per tonne gold, 95.7 grams per tonne silver, 0.69 per cent copper, 4.98 per cent lead and 4.53 per cent zinc, and c) 19.3 tonnes grading 65.5 grams per tonne gold, 49.4 grams per tonne silver, 1.50 per cent copper, 1.80 per cent lead and 5.30 per cent zinc. In 1941, a shipment of 31 tonnes produced 2537 grams of gold, 1190 grams of silver and 248 kilograms of copper. In 1946, the Yale Mining Company Limited sampled the Montrose and Waterloo zones. In 1950, Yale Lead and Zinc Mines Limited conducted about 600 metres of drilling, mainly on the Montrose zone. In 1959, Oro Fino Mines Ltd. optioned the property, but no work was reported. In 1968, the claims were owned by International Mogul Mines Limited. In 1972, Citex Mines Ltd. acquired a three-year lease on the property. No further work was reported on the Montrose and Waterloo zones until 1979 when Page and Skimming sampled the zones. In 1987, Joutel Resources Ltd. carried out a comprehensive program on the zones comprising trenching, mapping, soil, silt and rock geochemical surveys and diamond drilling (3 holes totalling 581.1 metres) on the Montrose zone.

In 1988, Joutel drilled four holes with no data available to the later owners regarding azimuths, lengths and dips.

In 1990, Joutel drilled 614 metres in three holes testing the Montrose and Red Cliff Zones. Several holes drilled in the 1987 and 1990 programs returned intercepts of 1.72 grams per tonne gold over 14.48 metres including 9.31 grams per tonne gold over 1.70 metres, and 1.17 grams per tonne gold over 16.89 metres including 4.82 grams per tonne gold over 2.29 metres for the Montrose Zone (as reported by Lawrence Dick, 2014).

In 2007, a total of 8,555 metres of drilling was completed in 41 diamond drill holes on drill roads constructed during the field season. Drilling was primarily conducted in the area of the Red Cliff and Montrose Zones. Some of the drilling intersection highlights on the Montrose Zone include values up to 16.61 grams per tonne gold and 31.4 grams per tonne silver over 1.61 metres in DDH-2007-MON-1 and 9.92 grams per tonne gold over 3.05 metres in DDH–2007-CT-3 (Konkin, K. (2010-01-28): National Instrument 43-101 Technical Report on Red Cliff Property).

In 2009, Decade completed 5,227 metres of diamond drilling in 36 holes to test the area of the Montrose Zone. Drill intersection highlights include 32.52 metres of 7.53 grams per tonne gold and 0.17 per cent copper in DDH-MON-2009-16, and 55.18 metres of 9.64 grams per tonne gold and 0.21 per cent copper in DDH-MON-2009-6 (as reported by Lawrence Dick, 2014).

In 2010, Mountain Boy optioned the property to Decade Resources Ltd. and the exploration program completed during the field season totaled 12,572 metres of drilling in 81 holes. Drill intersection highlights include 13.42 metres of 13.42 grams per tonne gold and 0.37 per cent copper in DDH-MON-2010-27, and 25.91 metres of 10.94 grams per tonne gold and 0.22 per cent copper in DDH-MON-2010-31 (as reported by Lawrence Dick, 2014). These intersections were considered highly-potential for further exploration and mineralization definition and provided the impetus for further exploration on the property.

In 2011, the Joint Venture Partners (Mountain Boy and Decade) completed 6,166 metres in 44 holes. Drill intersection highlights include 15.86 metres of 12.04 grams per tonne gold and 0.40 per cent copper in DDH-MON-2011-15, and 12.80 metres of 18.01 grams per tonne gold and 1.52 per cent copper in DDH-MON-2011-22 (as reported by Lawrence Dick, 2014). These intersections are core lengths and true widths could not be calculated since structural data was not conclusive at the time of drilling.

In 2012, the Joint Venture partners completed 13,240 metres of diamond drilling in 73 holes. Drill intersection highlights include 14.02 metres of 14.86 grams per tonne gold and 0.22 per cent copper in DDH-MON-2012-24 and 35.06 metres of 7.83 grams per tonne gold and 0.42 per cent copper in DDH-MON-2012-62 (as reported by Lawrence Dick, 2014). Again, these results indicated that substantial potential exists in the gold-bearing hydrothermal system and that further drilling and/or underground workings are required to obtain a relevant mineralization resource.

In 2012, Mountain Boy Minerals Ltd, with joint venture partner Decade Resources Ltd, drilled 13,240 metres in 73 holes at the past producing Red Cliff copper-gold-silver-zinc property (MINFILE 104A 037). Drill intersection highlights include 14.02 metres of 14.86 grams per tonne gold and 0.22 per cent copper in DDH-MON-2012-24 and 35.06 metres of 7.83 grams per tonne gold and 0.42 per cent copper in DDH-MON-2012-62 (as reported by Lawrence Dick, 2014). Most of the drilling focused on the Montrose zone (MINFILE 104A 033) approximately 1 kilometre north of the historic Red Cliff underground workings and approximately 20 kilometres north of Stewart. Drilling has yielded multiple significant gold intercepts proximal to historic workings including minor amounts of visible gold.

In 2016, Decade carried out geochemical surveys, rock sampling and a small diamond drilling program.

In 2017, Decade Resources Ltd. reported rock sampling results of 19.9 grams per tonne over 4 metres for the Waterpump zone at the Red Cliff gold-copper project (Exploration in BC 2017, page 30). Drill core from the Waterpump zone is described as having sphalerite-galena-chalcopyrite veins in the wall of a breccia that contains quartz, pyrite, and minor chalcopyrite over 15-20 metres true width. Visible gold has been observed in sphalerite-galena-chalcopyrite veinlets and in quartz-pyrite veinlets. Drill result highlights for the Montrose zone include 14.93 grams per tonne gold over 8.38 metres and 9.5 grams per tonne gold over 10.98 metres (Exploration in BC 2017, page 30).

In 2018, Decade Resources Ltd conducted a 53-hole 11,000 metre diamond drilling program on the Red Cliff project. Drilling results for the Waterpump zone included 4.54 metres of 12.11 grams per tonne gold and 7.26 metres of 10.6 grams per tonne gold (Exploration in BC 2018, page 128).

In 2018, Decade reported that drilling has completed 53 holes to date on both the Waterpump and Montrose zone. Of the sixteen holes completed on the Montrose zone, a total of 10 holes contain visible gold in the core associated with the chalcopyrite-pyrite stockwork. Sulphide mineralization including sphalerite and galena veinlets form an envelope to the chalcopyrite-pyrite mineralization and extend the width of the potential gold bearing zones. Intersection of 43.91 grams per tonne gold over 7.47 metres was reported (Decade Resources, Press Release July 24, 2018). Decade's plan is to block out the recently indicated high grade zone that is a minimum plus 100 metres long and approximately 400 metres down-dip within the 400 metre of structure length drill tested to date. Width of the Montrose zone in this area appears to be from 8 to 22 metres based on the modelling. Mineralization is reported to be open to depth and along strike.

Also refer to Red Cliff (104A 037) for related details.