• Large land position in a highly prospective base metal belt

• Project is adjacent to the Boomerang Deposit (Messina Minerals), a high grade precious and base metal rich VHMS deposit

• Three extensive (up to 2.5 kilometres long, 153 metres thick) VHMS style alteration systems identified on the project

• Un-sourced sulphide rich boulders on project assaying 6.5% zinc, 4.1% lead, 0.37% copper, 33.9 g/t silver and 1.02 g/t gold

Geology

Geology Map

The Victoria Lake project is predominantly underlain by submarine volcanic rocks of the Victoria Lake Group, which hosts several significant VHMS deposits including the former producing Buchans mines as well as Duck Pond (Teck: began production in April 2007). The property lies 6 kilometres southeast of the high-grade (zinc-rich massive sulphide) Boomerang Prospect, discovered by Messina Minerals in December 2004.

The rocks underlying most of the project were originally mapped as part of the Tulks Hill volcanics, but they have subsequently been recognized as belonging to a separate belt of rocks called the Long Lake belt. The Long Lake belt comprises intercalated volcanic, volcaniclastic and sedimentary rocks that outcrop over a length of 70 kilometres in the vicinity of the Victoria Lake property. Exposed on the eastern shore of Henry Waters on the Victoria Lake project is a sequence of altered and flattened porphyritic pillow lava referred to as the Henry Waters basalts, which are thought to represent the upper part of the Victoria Lake group.

Several major northeast structures occur in the Victoria Lake area and have affected all rock units through extensive shearing and faulting. The northeastern portion of the project is underlain mainly by volcanic and volcaniclastic rocks with a strong penetrative foliation resulting in the development of chloritic and sericitic schists. The southwestern portion of the project is underlain by a mix of volcaniclastics as well as strongly deformed shale and chert known as the "Caradocian Shale".

Exploration Work

Grid Location Map

Exploration on the Victoria Lake project in 2005 was focused on the VHMS potential of the area, especially in light of the newly discovered Boomerang Cu-Pb-Zn massive sulphide prospect located approximately 6 kilometres northwest of the property. Crosshair's program on the Victoria Lake project focused on four main areas known as the DPS, Swamp, Henry Waters and Long Lake grids. Work consisted of geological sampling and gravity geophysical surveys on all four girds, which outlined several significant targets.

During the fall and winter of 2006, an eleven hole (2,198 metre) drill program was completed in the four grid areas. The program was very successful in outlining multiple horizons of strongly altered, sulphide-bearing felsic volcanic rocks that could host a significant precious-metal rich massive sulphide deposit. The encouraging results received from the widely spaced drilling are strongly suggestive of a proximal VHMS environment and will be followed up with additional drilling.

Technical Report

Click here for the complete NI 43-101 technical report on the Golden Promise Project (PDF 11.0MB)