Conqueror, Daniel and Conqueror East. Iron. — Victoria Mining Division
What you are buying
Three mineral claims, sold as one package. Four cells at the head of Bugaboo Creek.
Claim 1138689 is the original two cells, 42.67 hectares, stacked north-south. The drilled Conqueror magnetite is in the north cell. The MINFILE point for 092C 022 is at the south side of that north cell.
Daniel is the one cell directly north of that north cell. The Daniel collars plot in it.
Conqueror East is the one cell directly east of that north cell. The eastern Conqueror holes plot in it, including the published David point.
Daniel tenure 1140234. Conqueror East tenure 1140235.
In-Ground Iron
In the ground, before mining costs: about US$211 million, about C$291 million.
That is the iron in the 1960 Conqueror and Daniel estimates. The collars for those two bodies plot on this package. It is not cash, not a mine value, and not the asking price.
Conqueror: 1,069,000 tonnes at 54.31% iron. Daniel: 1,538,000 tonnes at 55.67% iron. Together that is about 1.44 million tonnes of iron, or 2.32 million tonnes if priced as 62% iron ore. The 62% iron price on 16 October 2026 was US$90.90 a tonne. At 1.38 Canadian dollars to the US dollar, about C$291 million.
Nothing is deducted for mining, milling, road, port, royalty, or the sulphur. Conqueror averages 2.21% sulphur. Daniel averages 3.61% sulphur. That penalty is one reason this figure is not the sale price.
There is a 2011 inferred estimate of 14.324 million tonnes for these same bodies. Most of it is modeled under this package. It was not cut to the cell lines, so it is not a tonnage located inside the claims. Priced the same way as before, that whole estimate is about C$1.29 billion of iron in the ground, before mining costs. This figure is not as reliable as the 2.32 million tonnes because it is inferred, it is 60% magnetite rather than total iron, and the sections leave it open at depth. The 2.32 million tonnes uses only the 1960 Conqueror and Daniel estimates, converted to 62% iron, and those collars plot on these claims.
Location
Head of Bugaboo Creek, about 11.5 km northwest of the mouth of the Gordon River. Victoria Mining Division, NTS 092C/09, BCGS 092C068.
Geology and the record
Massive magnetite in pyroxene skarn, on the contact between Westcoast Complex diorite and limestone. MINFILE 092C 022. Iron skarn.
Noranda drilled Daniel and Conqueror from 1957 to 1960. Menzies and Nicolls, 1960, reported the two indicated figures used above. Both are historical. Neither is NI 43-101.
Pacific Iron Ore drilled the same ground from 2008 to 2011. The long intercepts on the north cell of 1138689 include 127.45 m at 55.61% iron in 08-38B, 95.86 m at 55.83% iron in 10-04B, and 75.05 m at 56.00% iron in 08-31B. Daniel includes 41.30 m at 58.03% iron in 08-13B and 32.65 m at 55.91% iron in 08-04B. Conqueror East is the fringe: 25.20 m at 48.50% iron in 10-02B, 17.30 m at 54.10% iron in 08-45B, and 16.05 m at 48.66% iron in 08-33B. Sulphur in these holes is commonly around 2% to 4%.
How to confirm the iron is on these claims
No report names these 2026 claims. Plot the collar coordinates. Do not use a latitude and longitude box. The reports give UTM.
Open Assessment Report 32175, Table 2, printed pages 15 and 16. Northing is printed before easting. Zone 10. https://apps.nrs.gov.bc.ca/pub/aris/Report/32175.pdf/
Open Assessment Report 30640, Table 2, printed page 18. Easting is printed first. https://apps.nrs.gov.bc.ca/pub/aris/Detail/30640
On Mineral Titles Online, enter Zone 10, easting, then northing.
Hole | Easting | Northing | Where it plots |
10-04B | 388892 | 5390802 | North cell of 1138689 |
08-38B | 388951 | 5390773 | North cell of 1138689, close to the east line |
08-13B | 388698 | 5391267 | Daniel |
08-04B | 388593 | 5391094 | Daniel |
10-02B | 388965 | 5390840 | Conqueror East |
08-24B | 389321 | 5390551 | Conqueror East |
The resource sentence in Assessment Report 32175 is the 14.324 million tonnes. Read it as the five-zone model, not as tonnes inside these cells. MINFILE 092C 022: https://minfile.gov.bc.ca/Summary.aspx?minfilno=092C%20022
What is not included
Mineral claims only. No surface, no plant, no road tenure. The old Conqueror, Daniel, Cyrus, Jennie Fraction, and Jacob Crown grants are reverted.
Elijah, 092C 024, at 389344 E, 5391028 N, is the cell east of Daniel. It is two small lenses. It is not in this sale. Sirdar, 092C 025, is farther southeast and is not in this sale. Hole 10-16B, 388541 E, 5391034 N, cut 0.32 m and is not included.
The title report for 1138689 flags the Central Walbran old-growth designation and the Pacheedaht consultative area. Neither removes the mineral title. Both should be read. The same flags should be checked on the two new reports.
Due diligence
The buyer should read MINFILE 092C 022, the collar tables in Assessment Reports 32175 and 30640, and should plot the collars on the current Mineral Titles Online cells. The 1960 figures are historical. The 2011 figure is inferred, and it is not a reserve.
This is informational only — not financial advice. Buyers should conduct their own due diligence, verify current claim status through Mineral Titles Online, and consult a Qualified Person where required.
Warning — This property is offered for mining purposes only and ownership of the title to it does not include ownership of the surface rights or the right to use the surface for residential or recreational purposes.
