WORLD CLASS DISTRICTS
The Palmer Project is a volcanogenic massive sulphide (VMS) type deposit that is located within the same belt of rocks that is host to the Greens Creek and Windy Craggy VMS deposits - both widely recognized to be world class systems. For both grade and size, there is no better VMS belt to explore. As a deposit class, VMS are attractive for being polymetallic (multi-metal) and having high dollar value per tonne.
At 297 million tonnes Windy Craggy is the world's fourth largest VMS deposit by size, and tops the list as the largest of the copper rich (Beshi style) category of VMS deposits. At ~25 million tonnes grading 5.1% lead, 13.9% zinc, 5.61 grams per tonne gold and 706 grams per tonne silver Greens Creek is one of the world's richest VMS deposits. In addition to solid cash flow from base metals, annual silver production at Greens Creek is in the top 5 of global silver producers, and total gold production since mining commenced in 1989 exceeds one million ounces. In 2008 Hecla Mining paid $750 million to purchase the 70% interest of the 7.7 million tonne mining reserve they did not already own. On a 100% basis, this values the deposit at over $1 billion - a remarkable value considering the mine has already been exploited for 20 years.
The Munro-Croesus Project is located within the heart of the Abitibi Greenstone Belt and along trend from the Timmins gold camp, which at over 65 million ounces of production is the largest Archean greenstone hosted gold district on the planet. The Munro-Croesus Project lies within the influence of the prolific Porcupine Destor Deformation Zone, a major structural control on gold mineralization extending from Timmins, Ontario to Val D'Or Quebec. Recent discoveries, such as Osisko's Canadian Malartic deposit (8.4 million ounces) confirms that exploring in the shadow of headframes remains an effective exploration strategy.