The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
DEC: TSX
President: Edward Kruchkowski, P. Geo, P. Geol.
Director and CFO: Andrew Bowering
Decade Resources Ltd. is focused on exploration stage mineral properties in northern British Columbia.
In 2010, the junior's activities centered on the Red Cliff gold and Wedeene copper-gold properties.
At April 30 Decade had incurred all the required exploration expenditures to earn a 60 percent interest in Red Cliff.
Decade has informed Mountain Boy that it will not be exercising its option to earn the additional 20 percent interest.
Pursuant to a joint venture agreement, the Red Cliff property will be operated on a 60/40 joint venture basis with Mountain Boy.
The Red Cliff is a gold-copper property consisting of eight mineral claims situated in the Skeena Mining division north of the town of Stewart, British Columbia.
Seven known zones of copper-gold and/or gold mineralization occur on the property, including two main zones, Red Cliff and the Montrose/Waterpump zones.
In 2009, Decade completed surface exploration on the Red Cliff property and by April 30, 2010, had incurred exploration expenditures on the Red Cliff property totaling C$1,442,373.
Diamond drilling intersected wide zones of gold mineralization in an extension to the bonanza gold-bearing Montrose zone.
In June Decade reported assays from the first five holes of the its 2010 exploration program at Red Cliff and completion of drilling in the Red Cliff zone July 16 along with testing of several gossaned zones south of Lydden Creek.
Decade also acquired the Wedeene property northwest of Kitimat, B.C., which consists of 154 claims covering about 3,100 hectares, or 7,657 acres, underlain by Kuroko-type VMS copper-gold mineralization. The junior has completed an electromagnetic geophysical survey on the property at a cost of C$224,547. Using data from the survey, Decade plans to conduct an exploration program which will include soil sampling and mapping. In addition, the company has applied for the necessary permits to conduct a drill program on the property. The junior began 2010 exploration in May intended to better define the extent of the copper-gold mineralization on the Wedeene property.
Cash and short-term deposits: C$1.53 million (at April 30, 2010)
Working capital: C$1.34 million (at April 30, 2010)
Market capitalization: US$621.6 million (as of Sept. 6, 2010)
611 - 8th Street Stewart, British Columbia, Canada V0T 1W0
Tel: 604 681-0710 Fax: 604 602-1606
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