Candorado Operating Company Ltd. - Bluff Lake

Overview:

The Candorado Operating Company Ltd owns 100% of the Bluff Lake Property. The Property has recently been optioned to Cache Exploration Ltd.
The Property is in the Quesnel Terrane and the exploration target is an alkalic copper-gold porphyry deposit

Location, Infrastructure and Resources:

The Property encompasses the area around Bluff Lake, situated between Spout and Murphy Lakes in the Cariboo region of British Columbia
It comprises 1,552 hectares and is located approximately 25 km north of the town of Lac La Hache
The Property borders onto GWR Resources' Lac La Hache property to the south, which hosts copper-gold porphyry mineralization at several occurrences
The Property is approximately 30 km south of Fjordland and Cariboo Rose Resources' Woodjam South property.
Good access to the Property is provided by a network of logging and exploration roads from the town of Lac La Hache
Lac La Hache and Williams Lake, located along Highway 97, are resource oriented communities

History:

Numerous companies have explored the area since 1966
Craigmont Mines conducted regional-scale soil sampling programs in 1973, which led to the outline of a copper-in-soil anomaly south of Bluff Lake
From 1992 to 1994, Cominco, and later Regional Resources, conducted IP surveys, mapping, soil surveys and rock sampling programs on a regional scale that included the area currently covered by the Property

Geology:

Situated within the central portion of the Quesnel Terrane, which is dominated by alkalic and calc-alkalic island-arc volcanics and co-magmatic intrusives of the Triassic Nicola Group
The Property is underlain in part by the Late Triassic Spout Lake intrusives, consisting of monzodiorites and monzonites

Mineral Occurrences:

Prospecting south-east of Bluff Lake in 2007 within a zone of weathered monzonite led to the discovery of mineralized intrusive float, containing abundant chalcopyrite, bornite, malachite and magnetite, assaying 1.49% Cu with 8.1 g/t Ag. The angular nature of the float strongly suggests a local source
A second piece of mineralized float was discovered in 2008, 100 m north-east of the first one. It consisted of quartz monzonite containing chalcopyrite, bornite, malachite and magnetite and assayed 1.59% Cu and 13.2 g/t Ag
Drill core from the 2007 drill program contained mineralization primarily as native copper, and to a lesser degree as chalcopyrite, bornite and molybdenite

Recent Developments in the Area:

GWR Resources is continuing exploration on its copper-gold alkalic porphyry prospects to the south
Fjordland and Cariboo Rose are planning further exploration on their Woodjam South property
Gold Fields has optioned the Woodjam North property and is actively exploring the property.

Candorado Exploration Program Highlights:

In 2006, a detailed radiometric and magnetic airborne survey was flown over the majority of the Property. Interpretation by R. Shives led to the identification of geophysical targets
A grid soil survey in 2007 in the area southeast of Bluff Lake led to the delineation of a copper-in-soil anomaly 500 m in length by 150 m wide. Mineralized intrusive float found in the vicinity assayed 1.49% Cu with 8.1 g/t Ag
This work was followed up in 2008 with in-fill soil sampling and a 4-hole, 710 m diamond drilling program. All holes intersected zones of minor disseminated native copper in monzonitic rocks. Best intercept is 0.15% Cu across 2.0 m in hole BL08-02
In addition, a second sample of mineralized float (1.59% Cu and 13.2 g/t Ag) was discovered 100 m northeast of the 2007 sample. Because of the angular nature of the float samples and the inferred up-ice direction to the northeast, the origin is likely to be less than 1 km

Proposed Exploration:

Conduct an IP-magnetic ground survey over the Property
Further prospecting to the east of the copper-in-soil anomaly
Petrographic studies of the mineralized core to assist with classifying the mineral deposit type