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Overview
The Trikay Project is situated in the prolific pre-Cambrian Mineral Belt of northwest Queensland, Australia, approximately 40 kilometers by road from the famous mining center of Mt. Isa. The pre-Cambrian Mineral Belt is host to a number of well-known zinc, base metal, copper, gold and uranium deposits. To date, two copper-gold deposits and one large main deposit with gold-rich patches have been identified on the Trikay property.
Mosquito Consolidated first visited Trikay in 2000, but was unable to secure an interest in the project until it became available in late 2004. By January 2005, the company established a working relationship with an Australian business partner and began the permitting process to acquire 100% interest in the Trikay Project.
Also in 2005, Mosquito Consolidated entered into an option agreement in which Kobex Resources Limited could earn 100% interest in the Trikay Property as well as 100% interest in the CUMO Property. By the end of the year, Mosquito Consolidated had regained 100% interest in the Trikay Project. In mid-2006, Mosquito created an Australian subsidiary and received the 5 year exploration permit for the project
On February 3, 2009 Mosquito optioned the property to Salmon River Resources Ltd. Salmon River has agreed to pay Mosquito CAD$50,000 and, upon TSX approval, will issue Mosquito 100,000 shares of Salmon River. In addition, within 30 days of the delineation by a qualified person, in accordance with NI43-101, of mineral reserves of not less than 2,000,000 ounces of gold or equivalent, Salmon River will pay to Mosquito a further CAD$1,000,000, or at Mosquito's option, issue to Mosquito that number of common shares of Salmon River having a value of CAD$1,000,000 based on the weighted average trading price of Salmon River's shares on a recognized stock exchange for the 20 trading days following the public announcement of such reserves.
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