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| | MAIN PROJECTS | | |  Project Name: BMP Target Type: Gold-Silver rich Cu-Ni massive sulfide system, early stage target. Land Status: Property covers 132 square kilometers of Alaska State mining claims and a Lease for a block of CIRI land held 100% by ITH. All exploration permits are current. Background: ITH targeted the BMP region as part of its regional base metal exploration initiative. The region had been explored for sediment hosted zinc-silver and porphyry related gold-copper systems by Anaconda in the 1980's just prior to their departure from Alaska. This prior work defined a number of highly significant precious-metal rich, mineralized zones and occurrences that have never been followed up (Figure 1). The project area is located approximately 250 km northwest of Anchorage, Alaska and approximately 60 km north of the Company's Terra project. The project area hosts a number of highly prospective base and precious metal occurrences. The property is underlain by sediments similar to the Selwyn Basin in the Yukon Territory, which hosts the very large Howard's Pass zinc deposit. Several significant shale-hosted polymetallic mineral occurrences are known within the BMP property area. In addition, the area has been intruded by a number of Tertiary age porphyries resulting in copper-zinc-silver skarns and breccia-pipe style deposits indicating potential for a large porphyry deposit. The property has never been systematically explored using modern techniques; BMP is an attractive district scale, exploration target. The focus of the Company's 2008 BMP program is to define drill targets to test the size and continuity of these large skarn systems.  Click to enlarge Figure 1 BMP map illustrating the locations of underlying geologic features, mineral occurrences and ITH's property boundary as of December 2007. The Company's new Dahl-6120 gold-copper belt was originally discovered by the Anaconda Mining Company who drilled two highly encouraging holes 20 years ago but never followed them up. The two holes drilled by Anaconda intersected a massive sulfide body hosted in shale with grades of 4.0% copper, 0.3% lead, 1.0% zinc and 370 g/t silver over a true thickness of 3.5 metres and 0.9% copper, 1.0% lead, 6.0% zinc and 177 g/t silver over a true width of 5.5 metres. This drilling linked with ground geophysical data indicates continuity of the sulfide body over at least 150 m of strike.  Click to enlarge Figure 2 6120 Prospect showing the distribution of high-grade copper and gold mineralization. Mapping by ITH suggests that the Dahl mineralization is hosted by a fault zone developed in a north-north anticlinal hinge zone which appears to extend 5 km to the south to the high-grade 6120 prospect and 3 km to the north where another mineralized massive sulfide occurs. Sampling by ITH of the 6120 target returned average grades of 2.3% copper, 3.4g/t gold, 33g/t silver, 0.16% nickel and 0.07% cobalt from 20 samples of an outcropping skarn zone. In total the past and recent work in this one relatively small area of the BMP land package suggest that the high-grade mineral system has a strike length of at least 8 kilometers and that the Dahl-6120 target offers significant potential for discovery of a major new precious-metal rich, base metal deposit. To get a better handle on this emerging mineral belt the Company has conducted a magnetic and electromagnetic survey of the core target area. The results have outlined several large geophysical anomalies spatially associated with the outcropping polymetallic (copper-gold-silver) skarn deposits discovered in 2007.  Figure 3 BMP Project showing area covered by recent geophysical surveys. Principal prospects are labeled. The largest anomaly is associated with the 6120 target area and covers approximately 1 square kilometre forming at an important structural intersection on the south side of the core intrusive unit. Twenty rock samples collected from a 150 metre diameter area of outcropping skarn at the 6120 target averaged 2.3% copper, 3.4 g/t gold, 33 g/t silver, 0.16% nickel and 0.07% cobalt (Figure 3). In addition, similar skarn type mineralization was found 2 kilometres to the north at the 6920 prospect. The Dall and Little Bird prospects, located on the northern target block (approximately 5 kilometres north), also appear to be associated with skarn and distal skarn type mineral systems. The Dall target was drilled by Anaconda Mining Company in the 1980's with two diamond drill holes, each of which intersected very significant high-grade mineralization (4.0% copper, 11.8 oz (370 g/t) silver, 1.0% zinc and 0.3% lead over a true thickness of 3.5 metres and 0.9% copper, 6.0% zinc, 5.7oz (177 g/t) silver and 1.0% lead over a true thickness of 5.5 metres). The size and dynamic range of the anomalies suggest that they are related to a large base and precious metal bearing hydrothermal system which warrants aggressive follow-up exploration by the Company.  Click to enlarge Figure 4 Magnetic map of the 6120 and 6920 targets with respect to geochemical results and Company mapping efforts. Opportunity: The BMP project offers a unique opportunity to enter into an early exploration project in Alaska with numerous precious metal rich-base metal discoveries. The project has a high quality, focused drill target area defined with completely open, historic high-grade drill intersections to begin the program. In addition, the project has an extensive database and very favorable terms with the underlying Native land owners on part of the project area. Data Available: ITH geochemical and geological database and the State of Alaska geophysical, geological and mineral data coverage. ITH contracted Fugro for a 50 m DIGHEM EM survey in May 2008 covering 30 Km2. PROPOSED TERMS Agreement Type: Earn-in Joint Venture Work Commitment Payments | | |
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