Cardero has recently completed two option agreements for five nickel-cobalt properties in south eastern British Columbia (the "Kootenay Project" or the "Project") totalling approximately 8,000 hectares. The Project is within the prospective Lardeau Group, which hosts numerous volcanogenic massive sulphide deposits, including the past-producing Goldstream mine located north of Revelstoke. Between 1983 and 1996 this mine produced 2.2 million tonnes of massive sulphides averaging 4.49% Cu, 3.24% Zn and 20g/t Ag. Other VMS prospects in the Lardeau Group near Goldstream include the Standard (Minfile 082M 166) and Montgomery (Minfile 082M 85) deposits.
Cardero believes the metavolcanic and metasedimentary units of the southern Lardeau Group to have excellent potential for hosting volcanogenic massive sulphides (VMS) with significant nickel-cobalt (± copper-zinc) content. These deposits have relatively small footprints and the other known VMS occurrences in the belt were either discovered in areas of good rock exposure, at high elevations, or by chance during construction of forestry roads. The heavily vegetated low-elevation regions are under-explored, and few previous workers recognized the potential for nickel-cobalt mineralization. Past exploration has focussed on lead-zinc- silver replacement and silver-gold vein deposits.
The 8000 hectares of claims within the Lardeau Group cover the most prospective of the anomalous nickel-cobalt regional silt anomalies produced by the regional sampling programmes of the B.C. Ministry of Mines. Three of the properties (Nico, Spine and Tesla) cover the more prospective nickel-cobalt results reported incidentally by Mineral Mountain Resources in 2012, during their regional exploration for silver-zinc-gold mineralization. The extensive property package allows Cardero to manage a pipeline of results, with Ledgend being the most advanced, and Lardeau being the most grassroots. More details on each project are available at www.cardero.com.
In the fall of 2017, Cardero completed soil, silt and rock sampling on the Ledgend, Enerplus-Tesla and Lardeau Properties and results are pending. A total of 1218 samples were collected. The other two properties, Nico and Spine, are only helicopter accessible will be sampled in 2018.
Note that the exploration results described here for the Kootenay Project are preliminary in nature and not conclusive evidence of the likelihood of a mineral deposit.