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| The proposed Eagle Rock Quarry is the Company's second property. Development of the Quarry will occur during the second phase of Polaris' business plan. Eagle Rock is a fully-permitted resource of high quality granite suitable for asphalt paving and ready-mix concrete production. It is located on deep tidewater 15 kilometres south of Port Alberni on Vancouver Island, BC. It has the potential to be developed into one of the largest, lowest cost, high quality construction aggregate quarries on the west coast of North America. |
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The Eagle Rock Quarry is 70% owned by Polaris and 30% by local First Nations. The Hupacasath and Ucluelet First Nations each own 10%, and the remaining 10% is held in trust for the Tseshaht First Nation.
Long term development plans call for annual marine shipments of up to 6 million tonnes of construction aggregate to major urban coastal markets. The Quarry has a potential life in excess of 100 years. The Eagle Rock site is ideally located for the development of such a quarry, with minimal environmental impact, and is well suited for the use of self-unloading marine vessels.
Eagle Rock Deposit
(in millions of tonnes)
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Mineral resources are not mineral reserves and do not have demonstrated economic viability. The mineral resources have been categorised in accordance with the Canadian Institute of Mining Standards. |
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A Qualified Person has verified the data relating to this deposit. |
| Although the Company has held off, for the moment, on developing the Eagle Rock Quarry, provincial environmental assessment certificates and mine permits for 6 million tonnes per year production were secured in September 2003, and the minor permits still to be granted are not subject to a public consultation and review process.
A feasibility study for the quarry was initiated in 2003 but is presently on hold in view of the later timing for development of the Quarry. However, AMEC of Vancouver, British Columbia did complete an NI 43-101 Technical Report (13.9 MB Acrobat file) in November 2005 on the project. |
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