The area now known as the Pearson Project has an extensive though intermittent history of mineral prospecting, exploration and discovery. The following discussion covers selected important events that took place within the bounds of the current Pearson Project.
In 1898, the first mineral claims were staked surrounding a significant outcropping of magnetite that formed a waterfall on Bugaboo Creek. From 1900-1907, others staked new claims and the first noteworthyphysical exploration work in this area commenced.
No further recorded work was done until 1957, when the Noranda Exploration Company Limited began three years of extensive work. This included drilling 61 holes, taking surface magnetic readings, making a grid survey, analyzing samples at the company's laboratory and preparing an internal report on possible seaport work. The discoveries led to calculation of iron ore reserves under historical (non-N.I. 43-101) standards. Noranda also crushed small batches to test iron ore recovery, with good results. Noranda's final report, though still available, is lacking key data, including detailed drilling logs and hole locations. Noranda ceased work in 1960.
In 1970, unrelated road-building revealed magnetite at Renfrew Creek (dubbed the Reko deposit), triggering new claims. In 1971-1974, Reako Explorations Ltd. conducted extensive exploration, including 112 drill holes, analysis, magnetic surveys, assaying of core samples and iron ore reserve estimates under historical standards (non-N.I. 43-101). Reako then halted work. There was no further recorded exploration work for more than 20 years. Renewed prospecting and exploration conducted by a local individual took place in the 1990s.
In 2002, Emerald Fields Resource Corporation (which became Pacific Iron Ore in July 2008) obtained 100 percent working interest over the lands that had become known as the Pearson Project and the following year commenced an exploration program. These activities are discussed under Exploration Summary and culminated with an N.I. 43-101 technical report in October 2007. Separately, in 2006, there was further geological mapping by unrelated academic parties. The later rounds of exploration also revealed ultramafic rocks which could indicate the ultramafic suite of ores, including nickel, copper and platinum group elements. There have been some academic papers written on ultramafic occurrences in the region.
In 2007, Emerald Fields recognized that substantial additional capital would be required to complete exploration of the Pearson Project. The company's board of directors developed a strategy to create a publicly traded corporation, leading to a corporate amalgamation that created Pacific Iron Ore Corporation in July 2008. Please click here to view the historical time-line, here for the information circular that details the amalgamation, and here to view financial statements of Emerald Fields and Klondike.