Commentary on Wild Goose News Release
Folks as you will have seen from the news release yesterday morning IMMC has picked up a very intriguing property. If you�ve not read the release as yet you can view it through this link: http://www.immc.ca/index.php/news/news-2012/155-international-millennium-acquires-wild-goose-property-near-revelstoke,-british-columbia.
The terms of the agreement are very favorable to the company, and likely reflect a confidence the vendor has in the property yielding a discovery. One hundred thousand ($100,000) in cash, 500,000 in shares (both over 5 years) and $1,000,000 in exploration or development (over 8 years), along with a 50% re-purchasable 2% net smelter return royalty, are good terms.
The Wild Goose property is situated approximately 23 kilometres northwest of Revelstoke in the British Columbia interior. The area is characterized by mountainous terrain and alpine topology, with the center of the property being dominated by a large alpine cirque. The watershed drains into Copeland Creek, which flows into the Jordan River.
This property is in the proximity of the historic Mount Copeland moly mine on the west ridge of Mt. Copeland; the King Fissure deposit, a historic lead-zinc-silver discovery, located on the east ridge of Mt. Copeland; and a placer gold discovery in the Jordan River.
Interestingly, when the King Fissure discovery (not on the Wild Goose property) was explored further in the early 1990s geologists also discovered a new light rare earth and niobium bearing unit within the lead-zinc-silver formation. I�ve spoken with the geologist who will be conducting the field work on the property and he informs me that he will certainly be testing any samples he collects for the presence of rare earth minerals.
The first phase of exploration will test the veracity of the historic samples described in the news release, seek to extend the discovery zones and look for additional showings. In speaking with our geologist he pointed out that the area is also prospective for gold, and that he will be bearing that in mind when taking his samples. As a point of interest, the property was originally staked by a prospector in 1895 based on the Goose Chase gold showing on the Wild Goose claims. The prospector then went on to join the Klondike gold rush and didn�t return to his claims.
Please click to the IMMC Facebook page to view claim and topographical maps of the Wild Goose property: http://www.facebook.com/pages/International-Millennium-Mining-Corp/277522958965623
Kevin Hull, IR