Late in 2014 management identified a supportive BC Government program by which exploration companies that had advanced their mineral claims over a period extending over 10 years with work programs would be entitled to apply any portable assessment credits ("PAC") available to them in their PAC account, to extend the life of their mineral claims. Notwithstanding that the switch over from legacy to cell tenure in 2004, at the expectation of the MTO, raised some concerns, the BC Government offices responsible for mineral exploration worked with AMEBC and other key parties to enable companies with the right prerequisites, such as PPM, who diligently pursued the opportunity, to extend the life of their claims. Enabled by availability of PAC credits from PPM's associated company, Guardsmen Resources Inc., PPM management accordingly managed to move tenure expiration of its Lawyers claims, to which this policy applied, out to 2025. In addition, due to staking done by management to expand the Lawyers footprint, the claim package now encompasses most min-file occurrences in the area.
Consequent on management's success in tenure extension, without which PPM faced tenure expiry in November 2015, parties interested in our mineral claim package approached management. After helpful consultations with interested First Nations, this culminated in Diameter Enterprises Ltd., (a company associated with a drilling contractor experienced with PPM and its Lawyers claims) participating with the company in facilitating an exploration drilling program from July to October 2015. The program was designed to explore the Cliff Creek Zone and Dukes Ridge, identifying anomalous zones and provide confirmation of previous exploration drilling not otherwise to 43-101 standards.
Drilling compilation is underway. Noteworthy positive results included drilling a previously unidentified 0.7 meter wide zone which assayed over 8 ounces Au and 220 ounce Ag per ton not dissimilar to the fabled Phoenix Zone, the last ore taken from Duke's Ridge on the Lawyers claims.
This work program enabled management to extend the life of all the other non PAC qualified claims comprising the Lawyers mineral claim group out to 2025 and in exchange for Guardsmen's assistance regarding PAC accessibility, excess assessment credits were past on to it.
Depending on the results of the compilation of the drilling, management will be considering further exploration including mag surveys, potential bulk sampling, further drilling and other opportunities that may arise.
It has been a very positive past 16 months for the company given the general mineral exploration climate. The company would like to thank the BC Government and other responsible parties for their support in these times. They were crucial in helping to set the foundation for future success of PPM in the Toodoggone.