Exhibit 99.2
CANTOP VENTURES INC.
EVALUATION REPORT
on the
COPPER ROAD I-IV MINERAL CLAIM
Nanaimo Mining Division NTS 092K014/24
Vancouver, B.C. Sookochoff Consultants Inc.
June 13, 2005 Laurence Sookochoff, PEng
Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
TABLE OF CONTENTS
page
----
Introduction 3.
Summary 3.
Property Description, Location & Access 4.
Climate 4.
Physiography and Vegetation 4.
Infrastructure 4.
Water and Power 5.
History 5.
Production History 6.
Regional Geology 7.
Property Geology 8.
Aeromagnetics 8.
Landsat Imagery 8.
Mineralization 8.
Conclusions 9.
Recommended Exploration Program & Estimated Cost 9.
Selected References 11.
Certificate 12.
Illustrations
Figure 1. Location Map-Glove following page 3.
Figure 2. Claim Map following page 4.
Figure 3. Topographic Map following page 5.
Figure 4. Geology following page 6.
Figure 5. Aeromag Map following page 7.
Figure 6. Landsat Image following page 8.
Appendices
Appendix I Table of Formations of Vancouver Island
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 2 of l3
Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
INTRODUCTION
At the request of officials of Cantop Ventures Inc. the writer prepared this
evaluation report on the Copper Road I-VI mineral claim ground, the results of
the exploration, and to recommend an exploration program to continue the
exploration and development of the ground with a view to establish sufficient
copper-gold-silver bearing reserves on which to base a productive economic
operation.
Information for this report was obtained from sources as cited under Selected
References and from personal reports the writer has written on the specific
property.
SUMMARY
The Copper Road I-VT mineral claim is comprised of a six cell claim block with
an area of approximately 150 hectares. The property is located on Quadra Island
within 200 kilometres of Vancouver, the largest city within British Columbia,
Canada.
The property includes a mineralized shear zone from which historic production of
some 4,736 tonnes of mineralized material was reportedly mined from which
approximately 87,181 grams silver, 716 grams gold, and 182,729 kilograms of
copper were recovered (MINDEP). The production was obtained from two main
mineralized "shoots" hosted by a shear zone indicated to have a width of up to
nine metres and to extend for 1,400 metres along strike. Mineralization,
although sparse in drill hole intersections testing an IP anomaly 1,000 feet
distant, has been defined to a depth of 200 feet. Mineralization is comprised of
quartz, calcite, bornite, chalcocite, chalcopyrite, native copper, and
malachite.
Previous exploration included diamond drilling and geophysical surveys from
which estimates of mineral reserves were 115,000 tons copper and silver grading
2.8% Cu and 0.5 oz Ag per ton by Anaconda (Wahl, 1983) and 60,000 tons of +2%
copper subject to confirmation by drilling and underground exploration by H.
Wall, P.Eng., (1983). Metallurgical tests completed in 1998 indicated that a
recovery of 91% of the copper could be achieved. It was stated that the good
copper recovery by flotation suggests that an all-flotation procedure may be a
viable process for recovery.
A continuing program of data compilation, geochemical and geophysical surveys is
recommended to delineate potentially economic mineral zones hosted by the shear
zone.
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 3 of l3
Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
PROPERTY DESCRIPTION (FIGURE 2), LOCATION (FIGURE 1) & ACCESS
The property consists of one-six cell claim covering an area of approximately
150 hectares. Particulars are as follows:
Claim Name Cells Tenure No. Expiry Date
- ---------- ----- ---------- -----------
CopperRoad I-VI 6 504801 January, 25, 2006
The property is located on Quadra Island, which is between Vancouver Island and
the British Columbia mainland, within three kilometres off the east coast of
Vancouver Island. The coordinates of the property are 125(degree) 18' 05" W
Longitude and 50(degree) 11' 05" N Latitude in the Nanaimo Mining Division,
within Map Sheet NTS 082K03W.
Access from Vancouver Island is by a fifteen minute ferry trip from the city of
Campbell River to Quathiaski Cove on Quadra Island thence for 18 kilometres via
the Heriot Bay road, the North Island road, and the Gowland B. road to the head
of Granite Bay. From that point there are several four-wheel drive access roads
to the north, northwest, and west of the property. The property is approximately
three kilometres east of Deepwater Bay.. The road distance from Vancouver to the
property is approximately 200 kilometres.
The claims are owned as to 100% by Cantop Ventures Inc. which entitles the
company to the sub-surface mineral rights. The company does not have any
interest in the surface rights. To maintain the ownership of the claims, the
company is obligated to either complete exploration work of one hundred dollars
per cell per year for three years thence two hundred dollars per cell thereafter
or the payment of the equivalent of cash in lieu prior to the Expiry Date
The property is not known to be subject to any environmental liabilities.
CLIMATE
The general climate is typically of the west coast temperate zone with mild to
cool temperatures and periodic heavy rainfall from November to March with a warm
summer season of temperatures averaging 60 degrees F. Snowfall may occur during
the rainy season.
PHYSIOGRAPHY (FIGURE 3) AND VEGETATION
The property covers ground of moderate to steep forested mountain slopes with
elevations ranging from 150 metres to 450 metres above sea level. Vegetation is
dominated by stands of forest growth comprised of pine, hemlock and fir with
moderate undergrowth of salal and brush.
INFRASTRUCTURE
Campbell River, in addition to many smaller centres on Vancouver Island, could
be a source of experienced and reliable exploration and mining personnel.
Vancouver, some 75 kilometres distant, plus a one and one-half ferry trip, is
the centre for experienced exploration and mining contractors and a supply for
most mining related equipment.
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 4 of l3
Figure 2. Claim Map. Tenure 504801. Cantop Ventures, Inc.
Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
WATERAND POWER
Sufficient water for all phases of the exploration program could be available
from numerous water courses within the confines of the property.
Diesel-electrical power would be required in the development and production
stages.
HISTORY
The history of the Copper Road property is reported as follows:
1919: The Copper Road mineral showings were discovered
1961: Golden Contract Mines drilled eight shallow diamond drill holes totaling
948 feet. The holes were centred on the shaft area.
1963: Anaconda optioned the property and diamond drilled 11,740 feet thereby
establishing a mineral reserve of 115,000 tons copper and silver grading
2.8% Cu and 0.5 oz Ag per ton (Wahl, 1983).
1962-1969: Lease mined by Robert J. Bennet who sank a 100 foot shaft and shipped
5,000 DST to the Brittania concentrator located on the west coast of
British Columbia some 40 kilometres north of Vancouver.
1953-1968: Total production of 5,220 imperial tons resulting in the recovery of
23 ounces of gold, 2,802 ounces of silver, and 402,848 pounds of copper.
1962: Geo-Recon, Inc. conducted a geophysical investigation on the Copper Road
Property. It was concluded that there are several ore bodies other than
those presently exposed at the Copper Road Property and that it would be
worthwhile to investigate further the areas detected by this survey.
1970: Optioned by Western Mines who conducted geological, geochemical, and
geophysical surveys and drilled eight core holes for 4,737 feet.
1981: H. Wall, P.Eng., estimated a mineral resource of 60,000 tons of +2%
copper subject to confirmation by drilling and underground exploration.
Wahl also reported that a higher grade extension could be included.
1997: A bench scale jig-column test was conducted by Ortech on copper samples
from the Copper Road mineral zone. Robert de Laat reported (1997) that
50% of extractable copper was leached in 48 hours on minus 10 mesh
material and 65% of extractable copper was leached in 4 hours on minus
65 mesh material. As only 25% extraction was achieved by this method, it
was recommended that flotation test work should be undertaken for
sulfide mineral collection.
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 5 of l3
Figure 3. Topographic Map showing Tenure 504801 of Cantop Ventures, Inc.
Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
HISTORY (CONT'D)
1998: Process Research Associates Ltd. conducted a copper recovery test on
a composite sub-sample from the Copper Road mineral zone. The
reported results were that 91.3% of the copper could be recovered by
a sulphuric acid leach followed by flotation of the leach residue. It
was stated that the good copper recovery by flotation suggests that
an all-flotation procedure may be a viable process for recovery.
PRODUCTION HISTORY
According to the BC Government MINFILE production records, the history of
production from the Copper Road property is as follows:
Production Tonnes Grams Kilograms
Year Mined Commodity Recovered Recovered
---- ----- --------- --------- ---------
1968 1,846 Silver 36,391
Gold 156
Copper 68,542
1967 511 Silver 9,455
Gold 156
Copper 16,533
1966 1,586 Silver 20,683
Gold 342
Copper 53,717
1965 502 Silver 8,118
Gold 62
Copper 18,312
1962 40 Silver 1,151
Copper 2,128
1961 79 Silver 2,706
Copper 6,093
1956 11 Silver 995
Copper 2,182
1953 161 Silver 7,682
Copper 15,222
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 6 of 13
Figure 4. Geology. Tenure 504801. Cantop Ventures, Inc.
Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
GEOLOGY AND MINERALIZATION
REGIONAL GEOLOGY (FIGURE 4)
The Copper Road property area is within the Insular Belt which is the
westernmost major tectonic subdivision of the Canadian Cordillera. According to
Muller (1979), the Insular Belt (Island Mountains) contains a middle Paleozoic
and a Jurassic volcanic-plutonic complex, both apparently underlain by
gneiss-migmatite terranes and overlain respectively by PermoPennsylvanian and
Cretaceous elastic sediments. A thick shield of Upper Triassic basalt
((Karmutsen Formation) overlain by carbonate-elastic sediments separates these
two in space and time.
The area is dominated by the Karmutsen Formation of the Vancouver Group
(muTrVsv) which is intruded by the Island Intrusions (LJKgd). The Karmutsen, as
described by Muller (1977) is
...composed of theolitic volcanic rocks, up to 6,000 metres thick and
underlying a large part of the Island. In Carlisle's (1974) standard section the
formation is composed'of a lower member, about 2,600 metres thick, of pillow
lava; a middle member about 800 metres thick, of pillow breccia and aquagene
tuff; and an upper member about 2,900 metres thick, of massive flows with minor
interbedded pillow lava, breccia, and sedimentary layers. Except in contact
zones with granitic intrusions the volcanics exhibit low-grade metamorphism up
to prehnite-pumpellyite grade..."
The Island Intrusions as batholiths and stocks of granitoid rocks ranging from
quartz diorite (potash feldspar less than 10% of total feldspar; quartz 5-20%)
to granite (potash feldspar more than 1/3 of total feldspar; quartz more than
20%). The Intrusions underlie about one-quarter of the Island's surface and
intrude Sicker, Vancouver, and Bonanza Group rocks (Muller, 1977). The
southeastern limit of the Bedwell Batholith, part of the Island Intrusives, is
covered in part by the property and extends northeasterly for 70 kilometres.
The structure of the Island is almost entirely dominated by steep faults. Only
the flysch-type Pennsylvanian and Jura-Cretaceous sediments and associated
thin-bedded tuffs show isoclinal shear folding. Faulting and rifting probably
occurred during the outflow of Karmutsen lavas in Late Triassic time,
establishing the northerly and westerly directed fault systems affecting Sicker
and Vancouver Group rocks (Muller, 1977).
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 7 of 13
Figure 5. Aeromag Map. Tenure 504801. Cantop Ventrues, Inc.
Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
PROPERTY GEOLOGY
According to the British Columbia MINFILE Report on the Copper Road (92K 060)
the claims are underlain by dark green to green andesitic lavas of the Upper
Triassic Karmutsen Formation, Vancouver Group. Amygdaloidal areas contain
zeolite and epidote, and in one place hematite and chalcopyrite filled
amygdules.
Wahl (1983) reports that in the east the volcanics are in fault contact with the
younger Triassic Quatsino Formation; a white crystallized bluish limestone with
occasional white recrystallized zones.
A shear zone up to nine metres wide and 1,400 metres long hosts quartz, calcite,
bornite, chalcocite, chalcopyrite, native copper, and malachite. The shear
strikes at 100(degree) and dips at 80(degree) to the north.
AEROMAGNETICS (FIGURE 5)
The aeromagnetic map indicates that the property is predominantly located within
a magnetic high, reflecting the granodioritic intrusives as shown by the
regional geologic map~. The contact between the intrusives and the
sedimentary/volcanic rocks to the east is reflected by a diminishing high. The
differentiation between the intrusives (LJKgd) and the sediments/volcanics
(muTrVsv) magnetically is minimal as the volcanics to the east (Wahl, 1983), are
the Karmutsen, containing the strongly magnetic basaltic lava. The Copper Road
showings (Figure 4) are reportedly hosted by volcanics, so would not be
reflected in the general aeromag map.
LANDSAT IMAGERY (FIGURE 6)
The Landsat Imagery shows the Copper Road I-VI property located in a partially
mild temperate area (light green) indicating potential areas of sulfides.
MINERALIZATION
The mineralization is described in the 1963 Minister of Mines Report as
comprised of quartz and copper sulfides occurring in variable amounts within the
shear. Sulfide bearing quartz exposed at the shaft was not encountered in a
drill hole that tested the shear at the 200 foot level. The shear was determined
to be strong, however, the mineralization intersected was of only sparse amounts
of bornite, chalcopyrite and native copper. At a location of an IP anomaly 1,000
feet distant, stronger mineralization reportedly occurs in the shear at depths
of up to 300 feet.
The Minister of Mines Report also states that native copper and less commonly,
chalcopyrite occurs also as isolated grains in massive andesite. Chalcopyrite is
veined by, and included in bornite and chalcocite. Bomite commonly occurs as
islands in chalcocite and as intergrowths.
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 8 of 13
Figure 6. Landsat Image. Tenrue 504801. Cantop Ventures, Inc.
Showing access roads to the property.
Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
MINERALIZATION (CONT'D)
Wall (1983) reports that the potential of the shear to a depth of 500 feet has
been fairly well defined and that two "ore" shoots referred to as the East and
the West have been indicated but the down-dip potential of what may be the
"feeder zone" has not been defined. Wahl further stated that this zone could
represent a former flat-lying channel within flow tops which controlled the
initial mineralization and is now tipped on end, or it may mark the zone of
ingress for hydrothermal quartz-sulfide entering or traversing the already
vertical shear.
CONCLUSIONS
The Copper Road 1-VI property covers a copper-gold-silver mineralized shear zone
that has shown to host significant potential economic mineralization. Historic
production has been achieved from two localized mineral zones; several ore
bodies other than those presently exposed at the Copper Road Property have been
indicated by geophysical surveys and reportedly it would be worthwhile to
investigate areas detected by this survey.
Metallurgical tests have shown that up to 91% of the copper could be recovered.
RECOMMENDED EXPLORATION PROGRAM & ESTIMATED COST
Phase I
Compilation of previous exploration data; analysis of
the data, compilation map and investigate the anomalous
areas along the shear zone that are indicated to contain
mineralization $ 7,500.00
Phase II
Localized general magnetometer and soil surveys over the
prime indicated anomalous zones 7,500.00
Phase III
Detailed magnetometer and soil surveys 15,000.00
Phase IV
Test diamond drilling of the targets delineated within the
potential exploration sites 35,000.00
Total Estimated Cost $ 65,000.00
Phase I of the recommended exploration program is estimated to take three weeks
to complete.
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 9 of l3
Evaluation Report on the Copper Road 1-VI Mineral Claim 10
Nanaimo M.D NTS 092K 014/024
June 13, 2005
RECOMMENDED EXPLORATION PROGRAM & ESTIMATED COST (CONT'D)
It is the author's opinion that the character of the Copper Road property is of
sufficient merit tojustify the recommended exploration program.
Respectftilly submitted
Sookochoff Consultants Inc.
[ Seal of Province of British Columbia ]
[ Professional Engineer ]
[ Laurence Sookochoff ]
Laurence Sookochoff, P.Eng.
Vancouver, BC
June 13, 2005
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page l0 of 13
Evaluation Report on the Copper Road 1-VI Mineral Claim 10
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June 13, 2005
SELECTED REFERENCES
DE LAAT, R. -- Bench Scale Jig-Column Test on Network 1 Copper Ore. Ortech
Corporation. December 4, 1997.
LIU, Q.-- Cu Recovery from a suiphide/oxide sample. Process Research Associated
Ltd May 20, 1998.
MINFILE -- Copper Road. 092K 060.
SCHWARZ, S.D. - Reconnaissance Geophysical Investigation on the Copper Road
Mining Property. Geo-Recon, Inc. May, 1962.
SOOKOCHOFF, L.-- Summary Report on the Copper Road Property for Even Resources
Ltd. December 5, 1991.
- Summary Report on the Copper Road Property for Beecher Energy
Ltd. September 15, 1994.
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 11 of 13
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Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
CERTIFICATE
I, Laurence Sookochoff, of the City of Vancouver, in the Province of British
Columbia, do hereby certify:
That I am a Consulting Geologist and principal of Sookochoff Consultants Inc.
with offices at 1305-1323 Homer Street, Vancouver, BC V6B 5T1.
I, Laurence Sookochoff, further certify that:
1) I am a graduate of the University of British Columbia (1966) and hold a
B.Sc. degree in Geology.
2) I have been practicing my profession for the past thirty-eight years.
3) I am registered and in good standing with the Association of Professional
Engineers and Geoscientists of British Columbia.
4) The information for this report is based on information as itemized in the
Selected Reference section of this report.
5) I do not have any direct or indirect interest in the Copper Road I-VI
mineral claim nor in the securities of Cantop Ventures Inc.
[ Seal of Province of British Columbia ]
[ Professional Engineer ]
[ Laurence Sookochoff ]
Laurence Sookochoff, P.Eng.
Vancouver, BC
June 13, 2005
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 12 of 13
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Evaluation Report on the Copper Road 1-VI Mineral Claim
Nanaimo M.D NTS 092K 014/024
June 13, 2005
Appendix I
TABLE OF FORMATIONS: VANCOUVER ISLAND
Laurence Sookochoff PEng. Sookochoff Consultants Inc.
Page 13 of 13
Muller (1977) Open File 463.
Table of Formations of Vancouver Island.
FIRST AMENDMENT
TO
EVALUATION REPORT
on the
COPPER ROAD I - VI MINERAL CLAIM
Nanaimo Mining Division
NTS 092k014/24
Vancouver, B.C.
Originally dated June 13, 2005
By Sookochoff Consultants, Inc.
Laurence Sookochoff, P.Eng
I, Laurence Sookochoff, President of Sookochoff Consultants, Inc. prepared the
Evaluation Report on the Copper Road I - VI Mineral Claim, Nanaimo Mining
Division, NTS 092K014/24 dated June 13, 2005 (the "Report"). I hereby amend the
Report as follows:
Page 4 of 13 shall be amended to reflect the new Expiry Date of January
30, 2007 with tenure number of 526652.
This amendment is based on the agreement to extend Purchase and Sale Agreement
Between Cantop Ventures Inc. and Larry Sostad dated March 3, 2006.
The Report shall remain unchanged in all other respects.
Dated: March 24, 2006
/s/ Laurence Sookochoff
------------------------------
Laurence Sookochoff