Exhibit 10.7 Geological Report on the Waterloo Creek Property
WATERLOO CREEK PROPERTY
VANCOUVER ISLAND, BC
May 15, 2006
Greg Thomson B.Sc., P.Geo.
James Laird, Laird Exploration Ltd.
TABLE OF CONTENTS
Terms of Reference
Location and Access
Topography, Climate, Vegetation
1.4 Property Status
1.5 Previous Work
2.1 Regional Geology
2.2 Property Geology
3.0 CONCLUSIONS AND RECOMMENDATIONS
5.0 STATEMENTS OF QUALIFICATIONS
The Waterloo Creek Property is located west of the town of Bowser, B.C. on
the east-central coastal region of Vancouver Island. The property comprises
two mineral claims totaling 189.112 hectares in area. Access to the property
is gained via logging roads from Bowser up the Rosewall Creek drainage to
the north-east slope of Mt Curran.
The Waterloo Creek Property contains multi-element mineralization (Au, Ag,
Cu, Co, Hg, Sb) hosted within an intrusive stock work zone at least 100
metres in length and 2-5 metres in width. The primary exploration target is
gold mineralization hosted by an epithermal-related mineral system.
The property has undergone only minor exploration carried out in the 1980’s.
This work consisted of prospecting, rock sampling and the drilling of two
short diamond drill holes. There is a small discrepancy in location plotting of
the main mineralization (<100 m) between the BC Government Minfile and
the original prospector’s maps, the Minfile plot has been retained until GPS
readings can be obtained.
A proposed work program includes construction of a control grid, geological
mapping and rock sampling of all showings, a soil and silt geochemical
sampling program, IP geophysical survey, and tre