Copper Lake as constituted today dates back to February 2009 when a 51% interest in the Norton Lake property was purchased for $300,000. Norton Lake is a NI 43-101 Copper Nickel Cobalt PGM project strategically located close to the access route of the Ring of Fire discoveries further north in Northern Ontario.
To achieve critical mass and insure asset diversification the Company then optioned the Marshall Lake Copper Gold Zinc Silver property in 2010. That project is located close to the CNR railways 265km north of Thunder Bay with at surface copper gold mineralization and all year-round access.
Both these properties were acquired based on the belief that long term rising global growth will deliver a significant upward revaluation in base and precious metals especially with exposure geared to technological growth, with Copper, Nickel, Zinc, Silver, Cobalt and PGM’s all beneficiaries of that trend. Added to this our willingness to acquire and develop gold assets to insure tactical upside in periods where base metals lag economic growth, this insures the Company is well positioned for growth.
As part of that growth strategy since the original interest in Norton Lake was acquired Copper Lake has increased steadily increased its ownership to 69.79% of the project through focused exploration expenditure and opportune corporate activity.
The Norton Lake project now awaits the arrival of new road infrastructure being provided by the Ontario Government as part of its Ring of Fire and local communities development commitments. Once that infrastructure is in place it will transform access and significantly reduce costs with a material uplift in the value of the project. Marshall Lake similarly has grown to a 68.75% interest based on focused exploration and buying out of third parties.
In 2016 the largest shareholders took a strategic decision to move the management’s focus towards a great emphasis placed on corporate opportunities. Under that mandate the Company recently acquired a potential 100% interest in four historic high-grade gold properties at modesr upfront cost with the vendor agreeing to defer his interest towards net smelter returns (NSR’s) plus modest amounts of cash and share payments.