Under an option agreement with Jet Gold Corp., the Zinc Bay claims had exploration conducted on them in 2011. A consequent 43 101 report was produced by Bob Lane in February 2012 in which recommended programs for continued exploration were made. Permits were put in place for the work but due to the financial commitments required of the option and the existing difficult fund raising environment in 2012, Jet Gold Corp. determined it was not possible to continue the option agreement. The Zinc Bay claims (Jet Gold referred to them as the Silver Bay claims) subject to the option were returned to 100% Guardsmen ownership in June 2012. The 43 101 and permitting were maintained by Guardsmen. It is the company's plan to seek partners to implement the work programs called for in the 43 101 or otherwise exploit the claims.
Silver Bay Report (PDF 10MB)