Pacific Iron Ore has a substantial exploration work program underway at the Pearson Project. Its objective is to substantiate magnetite reserves in sufficient quantity and concentration to support a commercial iron ore mine. Field work commenced in June of 2008 and the major elements, as recommended in the previous N.I. 43-101 technical report, consist of:

  • A planned 90 (and possibly more) diamond-drill core holes at the key prospects of Bugaboo Creek (conqueror, Daniel, David), Edinburgh/Mai, P2 and Reko/Granite. Please also see our recent press releases for ongoing updates.
  • As drilling proceeds, the core is being logged and saw cut and samples are being provided to ALS Chemex, an ISO 9001 and ISO 17025 accredited facility in North Vancouver, British Columbia, for analysis. A selection of core samples will be provided to B.C. Mining Research Ltd. for percentage magnetic (Davis Tube) testing to analyze the recoverable magnetite concentration;
  • A second aerial magnetic survey of approximately 7,783 line kilometres, covering the Pearson Project and most of the Corporation's other claims on southwest Vancouver Island. Fugro Airborne Surveys Corp. of Mississauga, Ontario was contracted to perform the airborne geophysical survey. Data gathering commenced in early August and was completed by the fall of 2008.
  • Geological mapping with corresponding stream sediment sampling and analyses, line cutting, assaying and analytical work.

 

Drilling and analysis of core holes is the key tool in mineral exploration. It enables calculation of reserves, which is crucial to determine the feasibility of a commercial mine. The primary goal of this program and possible additional exploration phases is to prove up iron ore reserves meeting N.I. 43-101 standards that attain a commercial threshold of 20 million tonnes of minable ore.

 

Early results will be evaluated and the further exploration activities will be adjusted accordingly. As exploration progresses, the Corporation will begin consolidating its claims to focus on the most promising areas.

 

The Exploration Program has included the completion of a significant number of diamond drill program and an airborne geophysical survey. The diamond drill program focused on the expansion and further delineation of previous exploration efforts in the Bugaboo Creek section of the Corporation's properties and identified a number of significant drill intersections of iron skarn mineralization. Many of these intersections yielded average Total Fe values ranging from 41% to 65%. The identified intersections are predominantly composed of massive magnetite and commonly contain small percentages of iron sulphides and may contain small inclusions of pyroxene-garnet skarn, gabbro, marble and/or diorite. In addition, the airborne survey identified 17 zones of particular significance that have clearly defined geophysical signatures with respect to magnetic highs, magnetite-rich zones and the EM anomalies with these zones.

 

The core samples were provided to ALS Chemex, and ISO 9001 and ISO 17025 accredited facility located in North Vancouver, British Columbia, for analysis and processing and produced a number of significant drill intersections with high average iron assays. From these diamond drill cores, approximately 1,000 samples were provided to B.C. Mining Research Ltd. for Davis Tube testing and further analysis which confirmed the Fe content. The airborne survey which was prepared by Fugro Airborne Surveys Corp. of Mississauga, Ontario ("Fugro"), covered approximately 7,783 line kilometres encompassing the Pearson Project and adjacent claims within the Port Renfrew Block on Vancouver Island, British Columbia.

 

 

The combination of the findings of the airborne survey and the diamond drill results has enabled the Corporation to focus its immediate exploration efforts on its high potential claims located in the Port Renfrew area and to engage Wardrop Engineering Inc., of Vancouver, British Columbia to prepare a resource estimate for the Bugaboo Creek Area located within the Pearson Project. (see technical reports).

 

The Corporation also anticipates the following activity to occur in Ontario:

 

St. Anthony's Project

 

The St. Anthony's project is located in Ontario and as of June 30, 2010, includes the Corporation's 63 mining claims and 14 leases which are identified as the St. Anthony's property, the Best property, and the King Bay property. These claims cover a combined 10,368 hectares and management believes they may exhibit the potential for gold, silver, and copper. To further define the potential for these claims, the Corporation has engaged Mr. Graeme Evans to prepare an independent qualifying report compliant with the requirements of National Instrument 43-101.The Corporation also completed 8 diamond drill core holes in 2009 and anticipates further look in 2010. Please see our recent press releases for ongoing updates

 

Mr. Evans holds a Bachelor of Science degree in Geology from the University of British Columbia and is a Professional Geologist. Over the past 27 years he has been involved in mineral exploration throughout Canada and the United States, spending the last eighteen years with Teck Cominco Limited. Mr. Evans has been the senior geologist on numerous precious metal and base metal projects and since 2004 he has been heavily involved in targeting potential gold projects in Ontario.

 

Separation Lake Project

 

In May of 2010 the Corporation joint ventured this project to Mega Graphite Inc. Please refer to our press release for further details.

 

The Separation Lake project is also located in Ontario and includes the Corporation's 22 mining claims which are identified as the Separation property and Big Mack property, both located in the Paterson Lake district. These claims cover a combined 2,864 hectares and management believes they may exhibit the potential for the rare metal pegmatites of Petalite (lithium). To further define the potential for these claims, the Corporation has engaged Mr. J. Garry Clark P Geo, to prepare an independent qualifying report compliant with the requirements of National Instrument 43-101.

 

Mr. Clark holds a Bachelor of Science honors degree in Geology from Lakehead University and is a Professional Geologist. Over the past 26 years he has been involved in mineral exploration throughout Canada and overseas, with a number of exploration companies including Falconbridge, Falconbridge Copper, Noranda, and Gulf Minerals. Mr. Clark also serves on various committees and boards that support the mineral explorers of Ontario including the Ontario Minister of Mines Mining Act advisory committee and the Ontario Geological Survey Advisory Board.

 

 

The current work program will extend over a planned 18-24 months. If the Corporation is successful in proving up commercial iron ore reserves, following this would be an extensive permitting, study and consultation process involving multiple stages at the municipal, provincial, federal and First Nations levels, which can be expected to require several years. Construction of an approved and permitted iron ore mine could be anticipated to require a further two years.

 

Good to Know
  • Pacific Iron Ore has high-quality properties in Ontario and on Vancouver Island
  • As of March 31, 2011, its 285 claims on Vancouver Island cover a combined 170,648 hectares. These are split 266 claims and 162,420 Hectares for the Port Renfrew Block and 19 claims and 8,228 hectares on the unexplored northern claims.
  • The Pearson Project is located in an area with historical mineral production