bird river project

Palladium/Platinum/Base Metals

The Bird River Property, which covers over 4,500 hectares in three claim blocks along 22 kilometres of the Bird River Sill Complex, is comprised of the Western (Ward’s - Coppermine) Extension and 3 separate blocks of the Sill – the Chrome and its Extension, the Peterson and the Page Block - along with the Ore Fault Zone. This complex carries significant concentrations of palladium and platinum along with nickel, copper, zinc and chromite. The Bird River Property is located about 40 km east of Lac Du Bonnet, Manitoba and, along the Sill, immediately adjacent to the west and northwest of Mustang Minerals’ Makwa (formerly Maskwa) Deposit.

In 2014, Mustang completed a NI 43-101 Preliminary Economic Study (PEA) on two open pit resources, Makwa and Mayville, with a central mill located at the Mayville site which is 43 kilometres away. The Mustang PEA calculated an Indicated Resource at Makwa of 7.2 million tonnes grading 0.61% Ni; 0.13% Cu; 0.01% Co; and 0.36gpt palladium and 0.10gpt platinum. The PEA is filed on SEDAR and should be referred to for details.

Gossan currently holds a 100% interest in the Bird River Project.

Between 2007 and 2012, the Property was subject to a Joint Venture with Stillwater Mining and formerly Marathon PGM. The partners made payments to Gossan of $850,000 and incurred over $4.7 million of exploration and acquisition expenditures at the Bird River Project.

On January 15, 2009, the Company announced initial resource estimates for the Page Block and Ore Fault North Zones. For details refer to the report on SEDAR under Marathon PGM. The NI 43-101 compliant resource estimates were completed by independent mining consultants and Qualified Persons, F.H. Brown C.P.G., Pr.Sci.Nat., and Antoine Yassa, P.Geo. of P&E Mining Consultants Inc. as follows:

A post-resource 2009 drilling program was completed with a total of 971 m drilled in 7 holes designed to enhance the two known resources at the Page Block and the Ore Fault North Zone. In 2009, a drill program was also completed at the Coppermine Zone located at the western end of the Property consisting of 6 holes (549m) that investigated sulphide lenses with elevated PGM levels.

In the fall of 2010, a trenching program was conducted between the Ore Fault Zone and the Page Block and the Zn-Cu-Ag mineralized zone was extended 150 metres to the north.

Going forward, higher nickel prices and consolidation of the adjacent deposits along the Bird River Sill would improve the economic prospects of the Bird River Project.