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The Squaw Peak copper property is located in northeast Yavapai County within central Arizona (Figure 1). The former mine workings are situated near the town of Camp Verde, 35 miles east of Prescott, Arizona and about 65 miles north-northeast of the Phoenix metropolitan area. The Squaw Peak mine is centered on latitude 34028'56"N and longitude 111051'28"W. Most of the mine workings are within sections 29, 30, and 31 of T13N, R5E. The American Copper-MinQuest property position consists of 40 contiguous lode claims on United States National Forest land comprising an area of 866.4 acres (350.8 hectares). The claims cover portions of sections 19, 29, 30, 31, and 32 of T13N, R5E. The assessment obligations to the U.S. Department of the Interior - Bureau of Land Management for the 40 Squaw Peak and SP lode claims are current. Recorded exploration of the property began with work by Squaw Peak Mining Company from the early 1900s to the late 1940s. Squaw Peak Mining produced several thousand tons of concentrate from mining of high-grade stopes that averaged 0.82% copper and 0.53% molybdenum but shut down at the end of the war. A renewed phase of exploration occurred from the late 1950s through 1974 by several mining companies. A Masters Degree thesis on the mineral deposit and geology was completed in 1976. Estimates of "mineral resources" and "mineral reserves" of copper, molybdenum and other commodities from the Squaw Peak deposit do not fulfill the CIM resource criteria as outlined for a NI 43-101 Technical Report. All sampling data required to estimate a historic resource was collected prior to 1980 and lacks original analytical certificates and other quality control verification. The authors believe these historical estimates may be relevant; however, they have not done sufficient work to know if these historical resource estimates can be relied upon. Credible historic resource estimates from drilling and underground sampling data have been made by Phillips Petroleum and Essex International in the early-mid 1970s. The drilling data used for this estimate was sufficient to guide and provide information for critical exploration decisions by reputable mining companies. Phillips estimated 30,750,000 tons of mineralization at 0.31% copper and 0.025% MoS2. The historic estimate from Essex totaled approximately 21,255,000 tons averaging 0.36% copper. A comparison of the two resource estimates is further detailed in 6.1 of this text. The resource is open at depth in several directions but will require drilling to bring the resources into current CIM resource categories and to determine the ultimate size of the deposit. Recent exploration efforts by American Copper-MinQuest in 2006 include an airborne magnetic survey and a multi-element soil geochemical survey. This work and a review of all previous exploration activity have identified two principal target types within the Squaw Peak project area worthy of further work. The first is an expansion of the stockworks/breccia pipe/vein related resource with an emphasis on the down dip extension of high-grade copper-molybdenum mineralization. The second is exploring for a deep "Resolution" type porphyry copper deposit which may be located beneath a large magnetic low located north of the Squaw Peak resource. Technical Report Click here to view 43-101 Report - November 20, 2006 (PDF 12MB) Maps click on thumbnails to view enlarged versions in PDF format
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