Following the granting of the Inglefield licence in 2010 which, when combined with the existing Minturn licence, enlarged the area under licence to 1342 km2, an airborne combined magnetic and gravity survey, covering an 80 km long magnetic high transecting the western half of Inglefield Land, was successfully completed by Sanders Geophysics in June 2010.

The main Minturn magnetic anomaly is covered by recent sediments. Rock float in the area mainly consists of syenitic intrusive igneous rocks with variable amount of magnetite as disseminations, veins and in brecciated rocks. Massive magnetite bands up to 1 m in width were found within syenite approximately 5 km east of the Minturn anomaly.

Additional interpretation of the new and historic geophysical data for the Inglefield region has identified 14 targets which have some of the geophysical signatures of copper-gold (+/- iron) deposits. (This non-genetic description of the targets is used in preference to IOCG which stands for iron oxide copper gold deposits.)

Compilation of historic geochemical data for Inglefield licence has led to the identification of several copper-gold targets which coincide with some of the 14 geophysical targets already identified as having prospective signatures. Some of these targets lie within the current licence area; however, an application has been made to increase the licence area to take account of these new copper-gold targets.

In January 2011 the Company applied for a 4001 km² licence enlargement of the “2010-44, Aunnartoq” licence. The Company’s exclusive licences at Inglefield Land, namely the “2007-53, Nunarhuaq” and “2010-44, Aunnartoq”, now total 5,343 km². The area has a potential for hosting copper-gold deposits.