Bitterroot Resources (BTT-V)
www.bitterrootresources.com
112.7 million o/s
$1.1 million cash (as of July 31, 2012)
Key people:
Michael S. Carr - President & Director
Michael Carr, President and Director, has been the Company's president and CEO since 1992. Prior to joining Bitterroot, he was an investor relations consultant to Cominco Resources International Limited from 1988 to 1992. Mr. Carr was a registered representative of investment firm Burns Fry Limited in Vancouver, B.C. from 1985 to 1988. Prior to 1985, Mr. Carr worked for as an exploration geologist for a number of companies, including Billiton Metals Canada, JMT Services, SEREM Ltd and Denison Mines. He graduated from McMaster University in 1980 with a Bachelor of Science degree in geology.
George W. Sanders - Director
George Sanders, Director, is the President of Goldcliff Resource Corporation. He is also a Director of SilverCrest Mines Inc. and Fission Energy Corp. Mr. Sanders spent over 15 years as a registered representative and precious metals specialist with investment firm Canaccord Capital Corporation and its predecessor companies. Mr. Sanders has also held Corporate Development or senior management positions with Shore Gold Inc., Wescan Goldfields Inc., Richmont Mines Ltd. and Consolidated Cinola Mines
Upper Peninsula Michigan, U.S.
Bitterroot owns 363 square miles of mineral rights in Michigan's Upper Peninsula, mainly in Ontonagon, Houghton, Baraga, and Iron Counties. The lands are subdivided into two general packages - the Voyageur Lands and the Copper Range Lands. Bitterroot also holds mineral leases and prospecting permits covering 3,084 acres. Through its wholly-owned subsidiary, Trans Superior Resources, Inc., Bitterroot is one of the largest holders of mineral rights in the Upper Peninsula.
The Copper Range land package covers a portion of the famous Keweenawan copper district, which produced more than eight million tonnes of copper between 1845 and 1995. Bitterroot's Copper Range Lands have been subjected to limited exploration drilling since the 1960s. There are more than 100 past-producing copper mines, pits, and prospects located within or adjacent to this land package. In 2010, Bitterroot's ground-based and airborne geophysical surveys (AeroTEM) and geological mapping defined several drill targets prospective for copper and nickel. The Company has recently acquired additional leases and prospecting permits covering 2,300 acres of mineral rights and is in discussions with potential joint venture partners, with the objective of drill-testing these targets later this year.
The Voyageur lands cover a diverse assemblage of Proterozoic sedimentary and volcanic rocks and have the potential to host a variety of minerals, including nickel, copper, platinum group metals and gold. Despite the extensive history of copper and iron mining in the western Upper Peninsula, the Voyageur Lands are at a relatively early stage of exploration. Within the Voyageur lands, Bitterroot has identified significant potential for platinum group metals (PGM) mineralization in the 35 square-kilometre footprint of the Echo Lake layered mafic intrusion. In 1997, Bitterroot drilled 3,270 meters in five core holes at Echo Lake. Drill hole EL-97-03 intersected ten flat-lying anomalous PGM-bearing horizons within the intrusion, with the highest-grade interval containing 1.01 grams Pt+Pd+Au/tonne over 5.42 metres, within a 21.3 metre interval grading 0.52 grams Pt+Pd+Au/tonne. The Echo Lake intrusion has potential to host additional reef-type PGE mineralization along strike from the currently known mineralized zones and Ni-Cu-PGE mineralization along its contacts or within satellite intrusions and feeder dykes. |
