The Company is a mineral exploration company and its primary asset is a copper/gold
property under option. The Company’s common stock is currently traded
on the OTC Markets under the symbol “RYES”, and listed on the Canadian
Securities Exchange (the “CSE”) under the symbol “UPP”.
The Company ceased to be an OTC reporting issuer in Canada on February 2, 2016.
The Company plans to explore the under-explored southern part of the Indata
Property (Area B of Figure 6), where recent exploration has discovered indications
of porphyry mineralization. These indicators include coincidental copper in
soil-chargeability anomalies, float rock samples with up to 0.78% Cu, and the
existence of intrusive rocks in outcrop.
A two-phase program is proposed: an initial phase of surface work followed
up by a second phase of diamond drilling. The first phase, budgeted at $304,605,
entails installing grids and mapping, and following up with an IP-magnetics
survey and soil sampling over the gridded area. Prospecting and rock sampling
of the area will also take place in conjunction with this program.
Quartz Mountain
The Quartz Mountain property is located in an area associated with historic
placer gold production (Perry Creek and its tributaries) and thus has been actively
prospected for bedrock sources of gold for many years. The property includes
two small pits, Price Pit and Golden Egg, each of which has seen small production:
3,173 grams of gold and 5,194 grams of silver from Price Pit in the 1930s and
14,900 grams of gold and 13,400 grams of silver from Golden Egg in 1973/74.
Gold occurs within quartz veins which typically also carry minor base metals
and iron sulfides.
Ron
This property consists of claims within or around the former Anglo-Swiss property
that contains the historic Kenville Gold Mine which produced close to 100,000
oz of gold. A NI 43-101 compliant technical report outlined an inferred resource
of 357,000 oz at a 23 g/t gold grade. The gold-rich veins in the Kenville Mine
extend south to the Ron Property ground.
Red Point Property
This project is located 6 km east of the Rossland mining camp. Several Rossland-style
massive pyrrhotite-chalcopyrite -gold veins have been found in the property.
The main Rossland gold-copper veins collectively produced a total of 2.37M oz
of gold at an average grade of 15.6g/t and 1.01% Cu. The main vein system trends
NE and is postulated to continue toward Red Point. Previous exploration was
focused on the Red Point area (same name as the property) targeting Rossland-style
mineralization which has so far not been successful. This makes the other zones
namely a) NE extension of the Gold Dust Trend, b) Orient, and c) Cathedral occurrences,
attractive subjects of the next exploration phase. Mineralization at the Red
Point property is bulk tonnage gold characterized by disseminated mineralization
occurring largely in fragmental volcanic rocks with higher concentrations in
fractures and veins that occur along the NE-trending structures. Past work on
the property consisted of airborne geophysical surveying, geological mapping,
soil geochemical grid work and diamond drilling.
Clubine
Clubine is a former gold and silver producer. The mineralization consists of
gold-silver-zinc base metal veins. The mine was operated intermittently between
1926 and 1942; production came from six underground levels. Clubine produced
3900 oz. Au, 7700 oz Ag, and 818 kg of Zn from 3,666 tonnes of ore. Gold occurs
in quartz veins and also within silicified and pyritic zones. Reported UG sampling
in 1934 were:
·
34.6 g/tonne Au over 21.6 meters (strike length) in Level No. 2; and
·
21.6 g/tonne Au over 8.6 meters (strike length) in Level No. 5.
The two gold-silver (+zinc) bearing quartz veins that are known to occur would
be the subject of future exploration in Clubine. Clubine offers the most advanced
drilling targets of the Klondike Properties and drilling can be initiated as
soon as permits are in place.
Klondike Properties
The Klondike Properties consist of a portfolio of seven gold and base metal
exploration properties, namely Clubine, Cruz-Midway, Panda Irishman, Quartz
Mountain, Red Point, Ron Gold and Thea. These properties are comprised of 150
claims covering 128 square kilometers, are located in southeast British Columbia
and are easily accessible by forest service roads.
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