There is a 2% Net Smelter Royalty agreement on the property with an entire buyback for $1,500,000.
The Red Point area is underlain by Elise Formation metavolcanic and metasedimentary rocks that are exposed in a 1.5 to 2.5 km wide embayment in the east-trending Rossland monzonite. Numerous north-trending dykes cut all lithologies. A high-grade gold-quartz vein, the Cathedral, trends easterly, parallel to the trend of similar style mineralization in the Rossland camp. Disseminated and fracture controlled mineralization occurs in the northwestern part of the area and this has been the focus of past exploration drilling and more recent drilling by Klondike Gold Corp.
There is no material work that has been completed on the property during this period.
The Red Point claims are located 5 km east of the Rossland lode gold-copper camp and a kilometer due south of the smelter at Trail. The area has a long history of mining and exploration, dating back to the early 1890s when gold was discovered at Rossland. Production from the Rossland district totaled approximately 5,600,000 tonnes of ore with an average grade of 14.7 g/tonne gold, 15 g/tonne Ag and 1% copper.
BC Minfile documents seven mineral showings on the property: Cam (082FSW 361), Ural (082FSW157), Red Point (082FSW366), Vinon (082FSW365), Stemwinder (082FSW363), Norway (082FSW120), Little Giant (082FSW364), and Sovereign (082FSW362) which occurs on a crown granted claim within the Red Point property block. Several other showings occur immediately west of the Red Point claims.
The following is a list of the significant work completed on the project: