The newly acquired Portland claims are situated in the highly-prospective American Creek Valley located approximately 25 kilometres north-northeast of Stewart, British Columbia. A large portion of the property is road-accessible. The property is underlain by lithologies of the lower Jurassic Hazelton Group. These rocks host significant precious and base metals deposits elsewhere in the Stewart Camp including the Silbak-Premier, Silver Coin, Sulphurets, Brucejack, Scottie-Gold, and Red Mountain deposits.
The western portion of the Portland property encompasses the Red Cliff – Montrose trend, a 2 kilometre long by 30-40 metre wide north-south mineralized zone. Gold-bearing veins within this shear zone have been intersected over a vertical distance of approximately 700 meters. Two past-producers are located along this structure – Red Cliff which produced approximately 1,136 tonnes from 1910 –1912 at a grade estimated to average 5% copper, and the Lower Montrose Zone which produced a total of 59 tonnes during 1939-41, averaging 84.4 g/t gold, 101 g/t silver, 0.91% copper, 3.5 percent lead and 4.41% zinc.
The eastern portion of the property hosts two mineral occurrences:
Bonanza: The original workings at the Bonanza showing occurred in 1910. Quartz-calcite veins up to 1.2 metres wide is mineralized with galena, sphalerite, chalcopyrite and pyrite, and extends over a strike length of 300 metres. In 2008, diamond drilling on the showing intersected numerous parallel to subparallel fissure-filled, argentiferous quartz-sulphide veins with massive to semi-massive sulphide lenses. Drill hole SCR-2008-2 intersected 0.46 metre grading 8.3 g/t silver,0.11% lead and 20.1% zinc and drill hole SCR-2008-8 which intersected 2.13 metres grading 23.3 g/t silver,1.48% lead and 4.05% zinc.
Victor - Mineralization occurs in a northwest-trending fracture zone at the contact of a porphyry dike hosting at least two lenses of nearly massive sphalerite-galena. Massive sulphide lenses are up to 6.1 metres long, 4.6 metres deep, and 0.25 metres wide. Open-cuts and tunneling were completed in 1909-1910. A grab sample from an adit dump assayed trace gold, 582.9 g/t silver, 44.0% lead and 22.6% zinc.
In early 2008, a total of 1402.45 meters of drilling was completed in 9 holes. Drilling was conducted in an area where trenching in 2006 yielded an assay of 0.09 g/t Au, 167.3 g/t Ag, 1.72 % Cu, 22.7 % Pb and 8.44 % Zn over 1.5 meters of width within a massive sulphide lens. The best drill results were in SCR-2008-2 which gave an intersection of 0.46 meters of 8.3 g/t Ag, 0.11 % Pb and 20.1 % Zn and SCR-2008-8 which gave an intersection of 2.13 meters of 23.3 g/t Ag, 1.48 % Pb and 4.05 % Zn.