Rock and Roll

Location: The Rock & Roll property is located in the Liard Mining District approximately 9 km west of the Bronson airstrip and exploration camp in northern British Columbia.

Access: The property is accessible by aircraft, and is located 37 km from the Eskay Creek Mine Road.

Property: The property consists of 11 mining claims totalling 4244 ha. The claims are owned by a consortium composed of Misty Creek Ventures Ltd, First Fiscal Enterprises Ltd. and Pamicon Developments Ltd (the "Vendors").

Terms of the Option Agreement: PFN can earn a 100% interest in the Property over a four year period by completing $2,000,000 in exploration expenditures, paying the Vendors $130,000 and providing the Vendors with a total of 600,000 PFN shares. The Vendors will retain a 2% NSR, of which 1% can be purchased for $3,000,000. The Property is also subject to an underlying NSR of 2%, and an underlying NPI of 15%, both of which are payable to Prime Equities International Corporation, and both of which are purchasable in their entirety for $1,500,000 each. The Agreement is subject to regulatory approval.

Geology: The Rock & Roll Property hosts precious metals rich, volcanogenic massive sulphide (VMS) mineralization in a volcano-sedimentary host rock package of Triassic age. As such, the mineralization shows similarities to the gold and silver rich mineralization of Barrick Gold's past producing Eskay Creek mine (reserves at Eskay Creek as of January 1, 1999 were estimated at 1,355,965 tonnes grading 57.7 grams per tonne (g/t) gold and 2492.57 g/t silver; Government of BC, MINFILE No 104B 008).
 

Rock and Roll Historic Drill Hole RR91-037:
3 meters @ 3.19 g/t Au, 395.9 g/t Ag, 1.08% Cu, 1.09% Pb, 5.08% Zn
 

Known mineralization on the Rock and Roll Property occurs in multiple stacked sulphide lenses in two zones, the Black Dog and SRV zones, over a strike length of approximately 950 m. A total of approximately 14,000 m of core drilling in 110 drill holes was completed on the property from 1991 to 1997. Only six drill holes tested the host stratigraphy outside of the known mineralization, but at least 5 km of strike length of the prospective lithologies is present on the Property. Historic drilling has tested the known mineralization down to depths of only about 160 m. Thus there is the potential for additional mineralization along strike and at depth.

The Black Dog zone hosts an historic, non-NI 43-101 compliant, indicated resource of 580,544 tonnes grading 2.4 g/t gold, 335.9 g/t silver, 0.64% copper, 0.79% lead, and 3.1% zinc  (Government of BC, MINFILE No 104B 377).  Selected historic drill results that were included in this historic resource estimate are tabulated below.

2009 Program:

The 2009 work program commenced with staking of additional claims surrounding the core Rock and Roll property. This was followed by a 350 line kilometre AeroTem3 helicopter-borne magnetic/electromagnetic survey completed in early August by Aeroquest Limited. The survey identified numerous conductors on the property which may represent additional zones of mineralization.

Following interpretation of the airborne survey, a crew mobilized to ground truth anomalies. The crew also completed re-sampling and partial re-logging of the existing core to evaluate historic results and interpretations.

The 2009 drilling program consisted of a total of 540 meters of core drilling completed in five holes (see accompanying map). The first four holes were designed to test gaps in the historic drilling on the Black Dog Zone in order to establish the degree of continuity of the mineralization and to confirm the historic geological model. Each of the infill drill holes encountered the target mineralization, confirming the continuity of the sulphide lenses and the validity of previous geological interpretations. Highlights of the 2009 drilling program includes intersections up to 1.31 g/t gold, 296.2 g/t silver, 0.46% copper, 1.25% lead, and 3.99% zinc over 3.14 metres in drill hole RR09-107.
 

2010 Program:

The 2010 exploration program focused primarily on re-sampling previous drill core, and geological mapping / prospecting that investigated airborne geophysical survey conductors, and geological and geochemical targets. The field work was supported by further compilation of data from the 1990-97 programs and the incorporation of new geological interpretations formulating in conjunction with members of the BCGS. The program also included the completion of an updated NI43-101 report and resource estimate.

The work will be managed by Equity Exploration Consultants Ltd. For an update on recent drilling programs, please refer to our press releases