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NORTH BRENDA OVERVIEW
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In April 2006, Bitterroot entered into an agreement to acquire a 100-percent interest in the North Brenda molybdenum/copper property, 30 kilometres west of Westbank in southwestern British Columbia. The 44 square-kilometre property adjoins the formerly-producing Brenda Mine, an open-pit molybdenum-copper porphyry deposit that produced 177 million tonnes of ore with an average grade of 0.043-percent Mo and 0.169-percent Cu from 1970 to 1990.
The Company's initial 5-hole 1,397-metre drill program was completed at North Brenda in late-2007 to test molybdenum and copper-in-soil geochemical anomalies coincident with Induced Polarization chargeability anomalies approximately 1-kilometre NNE of the Brenda open pit, along the previously documented Brenda mineralized trend. Outcrops proximal to the drill sites are mineralized with molybdenite and chalcopyrite-bearing vein and fracture-controlled mineralization typical of that seen at the Brenda Mine.
Drilling highlights include multiple intercepts that compare favorably to the grades encountered at the Brenda Mine, as displayed in the table below.
| Hole Number |
From
(m) |
To
(m) |
Length
(m) |
Cu
(%) |
Mo
(%) |
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|
|
|
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| NB07-11 |
1.5 |
299.0 |
297.5 |
.058 |
.019 |
| includes |
120.0 |
260.0 |
140.0 |
.066 |
.026 |
| includes |
126.0 |
138.0 |
12.0 |
.165 |
.157 |
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|
|
|
|
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| NB07-12 |
164.0 |
208.0 |
44.0 |
.059 |
.043 |
| includes |
192.0 |
200.0 |
8.0 |
.115 |
.201 |
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|
|
|
|
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| NB07-13 |
1.0 |
306.3 |
305.3 |
.058 |
.012 |
| includes |
120.0 |
146.0 |
26.0 |
.061 |
.041 |
| and |
284.0 |
306.3 |
22.3 |
.123 |
.007 |
These three holes were drilled from a single setup approximately 800 metres NNE of the Brenda open pit, intersecting millimetre to centimetre-scale, molybdenum and copper-bearing veins emplaced in a likely continuation of the granitic intrusive body that hosts the Brenda deposit.
The initial drill results bode well for the discovery of additional mineralization within a 1.5 kilometre-long trend defined by highly anomalous molybdenum and copper-in-soil geochemistry and IP chargeability anomalies coincident with the strongest soil geochemical values. Additional IP surveys and soil sampling are planned for the 2008 field season. Reconnaissance soil sampling in 2007 and 2008 has identified four other areas with anomalous gold-in-soil on the northern part North Brenda property. These road-accessible targets are being followed up in the 2008 field season.
In exchange for a 100-percent interest in the North Brenda claims, Bitterroot paid the property vendors $10,000 and issued 50,000 shares upon signing, issued 50,000 additional shares and completed $50,000 of exploration expenditures before the first anniversary, issued 50,000 additional shares before the second anniversary, and will issue common shares with a value of $50,000 prior to the third anniversary. The vendors will retain a two percent (2%) Net Smelter Returns (NSR) royalty on the claims, of which Bitterroot can purchase half (1%) for $1-million.
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