The company said it is currently completing $500,000 of expenditure requirements under an exploration deal with Kinross to complete a 50/50 JV earn in.
Colorado Resources has already completed a program of geological mapping, till and rock chip sampling, induced polarization and magnetometer geophysical surveying on the property.
This work defined a partially open 600 x 1,000m chargeability anomaly in an overburden covered area up ice from a coincident copper, zinc, gold and silver geochemical anomaly defined by detailed till sampling.
An initial four-hole, 700m drilling program has been commenced to test the chargeability anomaly that occurs in an area of extensive glacial cover.
The Red Sky property has the potential to host copper-gold porphyry style mineralization similar to Taseko’s prosperity deposit as well as to host bulk tonnage gold mineralization similar to that found on Amarc’s Newton property 30km to the southeast.
