The Capoose property is located 115 kilometres south of Vanderhoof, British Columbia and has gold-silver epithermal mineralization. The Blackwater deposit, 23 Kilometres to the southeast is a similar deposit being developed by New Gold Inc.
Silver Quest Resources Ltd. acquired a 100% interest in the property pursuant to an option agreement with the company. Silver Quest subsequently sold its 100% interest to New Gold Inc. The company retains a 2.25% Net Smelter Royalty on the property. 1% of the NSR can be bought by New Gold for $1,500,000 at anytime up until commercial production.