Location

The Taseko Project is located south and west of Upper Taseko Lake, 160 km southwest of Williams Lake, BC, Canada.  The property is accessible by road from Williams Lake (5 hours) or by helicopter from Pemberton (50 minutes) and Vancouver (75 minutes). Elevations on the property range from 1,340 m (4,500 ft) to 2,440 m (8,000 ft).

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Strategy

The geology of the property shows a long history of deformation, alteration, and several episodes of mineralization related to Mesozoic and Cenozoic intrusions.  Of particular interest to Galore are the copper-gold, copper-molybdenum porphyry and epithermal-style precious metals vein systems and alteration zones which occur on the property and have been inadequately explored.  The major porphyry deposits near the field area include Poison Mountain (BC Mineral Inventory File Number: MINFILE 092O 046), Taseko (Empress) (MINFILE 092O 033), Prosperity (Fish Lake) (MINFILE 092O 041), and Chita (MINFILE 092O 049).

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Geology

There are several known mineral deposits surrounding Galore’s properties.  Galore has a significant portion of the mineralized area between the Bralorne Mines and the Prosperity deposit.  A brief summary of these deposits is as follows:

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Galore has a significant portion of the mineralized area between the Bralorne Mines and the Prosperity deposit.

Bralorne Mines

This past producer is approximately 25 kilometres south of Galore’s properties and is one of Canada’s historic gold producers.  The mines have produced 4.1 million ounces of gold and are being tested for further production.

Prosperity

The deposit is approximately 20 kilometres north of Galore’s property.  Prosperity has reserves of 1,010 million tonnes grading 0.24% copper and 0.41g/tonne gold.  The deposit is estimated to contain 3.9 billion pounds of copper and 9.2 million ounces of gold.

Poison Mountain

The copper molybdenum property is located 75 kilometres east of Taseko Lake.  The property has reserves of 280 million tonnes grading 0.261% copper, 0.142 g/tonne gold, , 0.007% molybdenum and 0.514 g/tonne silver.

Taseko (Empress)

Galore’s property surrounds this deposit.  It has a mineral resource of 11,078,000 tons of 0.61% copper and 0.023 oz/ton gold.  The property has not been fully drilled and these resources could increase with further exploration drilling.

Pellaire Mine

Recent exploration and development work gives an estimated mineralization of 90,000 tons of 0.79 oz/ton gold plus significantly more potential.  Approximately 2,000 ounces of gold were produced in 2000 under a testing permit.

Properties

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Northwest Copper

The Northwest Copper area covers a mineralized area of at least eight square kilometers.  Geophysical surveys have defined a large magnetic anomaly in the area.  Several copper-silver-gold showings occur within this anomaly.  A leached cap associated with argillic hydrothermal alteration, structurally-controlled mineralization and altered hornblende-porphyry dykes is further evidence of the porphyry copper-gold potential of the area.

Charlie and Hub

Disseminated and veinlet copper and molybdenum occur at lower elevations along the Tchaikazan River and copper-bearing veins occur at higher elevations.  This prospect has the potential to host two styles of mineralization: copper-molybdenum mineralization (Hub) and mesothermal to epithermal gold-silver-copper veins (Charlie).  Mineralized targets are partially outlined by copper and molybdenum soil geochemical anomalies and by an arcuate IP Chargeability anomaly.

Magic Twin Area

The Magic Twin area comprises two claim blocks covering mesothermal to epithermal precious-metals veins.  Arsenic-bearing veins located in Twin Creek and the quartz veins carrying copper-gold mineralization on the ridge crest to the west demonstrate this potential.  The Twin Creek vein system has unexplored potential for vein extensions beneath the drift-covered valley adjacent to a major fault and intrusive contact.

Fortune

The Fortune property covers 10,138 hectares and remains largely unexplored.  It covers part of the Tchaikazan fault which is thought to be a controlling structure and conduit for mineralization.

Spokane

Three showings, Spokane, Ice and Syndicate, occur within the Spokane target area.  The mineralization is characterized by pyrite, pyrrhotite and chalcopyrite, which occur in veins associated with silification, sericite, and clay alteration.  High copper, silver and gold assays have been reported from the area.

Battlement

The Battlement area includes the former Taylor-Windfall gold mine (“MINFILE 092O 028).  This prospect is hosted by volcanic and sedimentary rocks and volcanic breccias.  The area was previously explored in the mid-1980′s for epithermal gold mineralization.  A two square-kilometre area contains silicified and argillically altered volcanics associated with plutonic rocks, large-scale high-angle faults, and gold-bearing veins.  Veins in the area contain up to 0.9 oz/ton gold and greater than 3.5 oz/ton silver.