The Kaslo Silver Property is located along Keen Creek, 12 Kilometres west of Kaslo in the Slocan Mining Division of southern British Columbia, Canada.  The mineral tenures include 13 claims and 13 crown grants that cover a total area of 3,238.9 hectares.

The Kaslo Silver mineral claims are recorded in the name of Jack Denny and Bob Denny of Salmo, BC. Spey Resources Inc. (“the Company”) has the right to earn an undivided 100% interest in and to the Property subject to $310,000 aggregate payments Issuing to Denny, an aggregate 236,547 common shares.  The property is subject to 2.5% net smelter return royalty.

History

The region underwent extensive exploration during the mineral rush of the late 1800’s and early 1900’s. Numerous small mines went into production on the narrow high grade silver- bearing veins that were discovered. The most substantial of these operations was at the Cork-Province mine, which is reported to have consisted of underground workings at several mining levels that exploited zones of replacement mineralization within the host limestone rocks. A total of 210,990 tonnes of material was mined with reported average grade of 70.3 grams per tonne silver, 3.05 percent lead and 4.72 percent zinc (Minfile)

Regional Geology

The Kaslo Silver Property is underlain by Triassic Slocan Group sedimentary and metasedimentary rocks. These rocks have been folded into a steeply dipping synclinal wedge bounded on the north and south by Jurassic Nelson Batholith intrusive rocks. Faulting, shearing and metasomatisrn accompanied intrusive activities and are directly related to the formation of vein, breccia and replacement deposits of silver-lead-zinc.

Physiography

The Kaslo Silver Property is located in an area of rugged terrain typical to the Kootenay Region of British Columbia. The claims mostly lie on the moderate to steep north facing slopes along Keen Creek. Elevations on the Property range from 840 metres along Keen Creek to 1,900 metres on the mountain slopes. Outcrop is moderately abundant on steep slopes but is sparse on moderate slopes. Keen Creek trends through the northwest boundary of the property with numerous tributaries entering from the hillsides. The major tributaries include Ben Hur, Briggs, Klawala, Kyawats and Desmond Creeks.

Accessibility, Local Resources, Infrastructure

Access to the Kaslo Silver Property is by vehicle via Highway 31A for seven kilometres west from Kaslo, then 6.5 kilometres southwest along the Keen Creek Forest Service Road to the property boundary. The property lies along and to the southeast of the Keen Creek Road for a distance of approximately 9.5 kilometres. New logging roads and numerous older logging and mining access roads and trails exist on the property in various passable states. Four by four vehicles and ATVs are used for access upon the rougher roads and access trails.

Kaslo and the nearby communities of Nelson, Castlegar, and Trail provide contract personnel and equipment for mining exploration and development. These communities have a history of mining as part of their foundation, and are all accessible from the Property via year round highways. Airports located at Castlegar and Trail provide scheduled air service from other major centers in BC. Meals and accommodation, along with other supplies, can be had from Kaslo.

Cream Minerals Ltd 1998-2006

In 1998, Cream completed extensive VLF-EM and geochemical sampling on the property. This was supported by surveyed local grids. A total of 145 rock samples and 1,529 soil samples were obtained, along with 62.9 line kilometres of VLF-EM geophysical survey. Four grids were established, the Cork North, Cork South-Black Fox, Silver Bear and Gibson-Gold Cure-Bismark grids. The work culminated in the drilling of 27 diamond drill holes totalling 2,303 metres.

Recent Work

Previous mineral exploration work includes geochemical sampling, prospecting, ground and airborne geophysical survey, geological mapping, excavator trenching and diamond drilling. Recent work (2018) included surface rock sampling and a 2-hole diamond drilling program. Tay Resources Inc. (the previous owner) undertook a 2-hole drill program to further explore one of the areas of interest as outlined by Cream Minerals’ 1997-1998 programs, where drilling returned very significant values (>10% combined lead-zinc, >100 grams per tonne silver) over significant intercept widths (>2 metres) in the Cork-Province mine area.

In 2018 a total of 12 rock samples were collected by the Tay Resources Inc. (previous owner) project crew. These were grab samples taken from various outcrops and waste dump piles in order to assess and verify the presence of economic minerals on the property, as reported by previous operators. Table 6 provides a summary of results.