Review of Other Exploration Properties

Betts Cove Soapstone Property (industrial minerals)

The Betts Cove soapstone property is located in northwest Newfoundland.  Comaplex is exploring the potential of the property as a possible source of both carving stone and  dimension stone (counter tops, ovens, etc.). Comaplex has been involved in the project since early 2006 and has an option to acquire a 100% interest in the property. 

In November 2006, a road was constructed into the claim block and approximately 35 tonnes of soapstone extracted and transported to a storage site in St. Johns.  The larger blocks were cut into slabs for test purposes as dimension stone.  Early results suggested the stone has potential in this application.  Samples were also sent to various communities in the eastern Arctic to be tested by local carvers.  The results were very positive.

In December 2006, a total of 11 shallow drill-holes totaling 264 meters were completed at numerous locations on the Betts Cove property.  The goal of the drilling was to define the size, competence, and continuity of the soapstone resource.  The drilling indicated somewhat variable weathering profiles, as well as variation in the textures of the material at various locations on the claim block and suggested that industry sized blocks could be quarried on the property. 

In the summer of 2007, an additional 40 tonnes of soapstone was removed from the property, of which about 20 tonnes were trucked to Montreal and then barged to Baker Lake, Nunavut.  The stone was distributed to local artists and has been well received by the northern carvers.  At the same time, three large blocks of 8 – 20 tons each were extracted and trucked to a slabbing plant in Nova Scotia to be cut into thin 1.5 x 2.5 meter slabs.   The slabs were 2 cm thick. The results showed the stone to be both  competent and attractive and therefore highly prospective for use as counter top material  In early 2008, sample slabs of the stone were sent to a number of stone trade companies in North America who are involved in the dimension stone business specializing in the use of soapstone.  Initial reaction to our stone from these groups has been very positive. 

Consideration is now being given to how best to proceed with further development of the resource.  Expansion of the exploration activities of the Betts Cove soapstone project is planned for 2008. 

Rankin Inlet, Nunavut (nickel, PGE)

Comaplex has a 70% interest in two claims on the Rankin Inlet peninsula in Nunavut that cover the old North Rankin nickel mine that was active from 1957-1962. Exact figures on mine production are not available, but the best estimates of historical production are 460,000 tons of ore grading 2.3% nickel, 0.63% copper and ~3 gmt Platinum Group Elements (PGE) (21 million lbs of nickel and 6 million lbs of copper produced over the life of the mine).
The 3100 acre property underwent limited diamond drilling by Comaplex and partners in the area of the old workings in 1988 and 1992. The mineralization is interpreted to lie in embayments along the footwall of a serpentinized ultramafic sill. Recent airborne and gravity interpretation over the claims, plus work by the GSC suggests the mineralized sill could be continuous under the town site.
Very high PGE values and exotic mineralogy have been recovered from 'recent' work on the prospect. A 1988 drill hole returned 5.0 meters of 1.9% nickel, 0.7% copper, and 3.8 gmt PGE. Results from 2 surface grabs from the old tailings site (prior to its clean-up) returned results of 8.1% nickel, 1.9 gmt gold, 6.7 gmt palladium, 1.63 gmt platinum, 0.18 gmt rhodium, and 0.8 gmt osmium in one and 3.0 gmt Pd, 1.5 gmt Pt, 0.5 gmt Rh, 0.4 gmt Os, 0.23 gmt iridium in the other. These were probably high-grade samples from the 1950's mining.
The interpreted extension of the deposit lies under the east edge of the hamlet of Rankin Inlet, extending under other municipal developments to the south. Comaplex is currently looking for a Joint Venture partner for the property.

Kim Property, Northwest Territories (gold)

Comaplex has a 100% interest in 7590 acres of leased claims near the old Colomac mine, located approximately 200 kilometers north of Yellowknife, N.W.T. The property hosts two small gold deposits, the Main and Cass zones, that have undergone significant surface and sub-surface work since 1980.
Echo Bay Mines Ltd. previously completed over 160 drillholes (29,300 meters) of diamond drilling to define the two zones and eventually terminated its right to earn an interest in the property. In 1994, Royal Oak Mines Inc. optioned the property and completed additional diamond drilling and resource definition on the Main and Cass zones with the intention of using the high grade resources to augment the low grade feed at the Colomac Mine, located 13 kilometers to the northeast. Royal Oak completed considerable exploration work after Echo Bay, but with the sole intention of resource exploitation through shallow, open pits and not as a high grade underground operation to which the deposits are better suited. In 1996, a 13 kilometer long road was constructed between the two properties and a small test pit started at the Cass deposit. Exploration by Royal Oak was never completed due to that company going into receivership.
The gold mineralization at the Main zone is hosted in quartz-carbonate vein lodes associated with a fault zone at the contact between mafic volcanics and sediments of the Archean Yellowknife Supergroup. Cass zone gold mineralization is associated with tension gash type quartz veins hosted entirely in a gabbro sill. Brittle deformation dominates. Gold silver ratios are about 5:1. Moderate grade gold values (5.7 gmt gold) in grabs in the Raspberry zone have not been drill tested. Comaplex is currently looking for a joint venture partner to advance the property.