The Newbec sulfide lens was discovered in 1925 and mined in 1930, but due to low copper prices, only 278 tons at 6.83% Cu were sent to the mill. Since then, several companies performed exploration surveys on the property including mapping, sampling, airborne and ground geophysics as well as 78 diamond drill holes.
In 2014, Falco performed a surface sampling program including stripping and channel sampling - the result of which was the discovery of a new copper-Nickel-Palladium showing at the base of a north South trending gabbro sill.
The old Newbec mine consists of several small sulfide lenses located in a fault zone at the contact between the Amulet andesite and the Newbec rhyolite. A historic resource calculation indicates that about 9 000 tons at 6% Cu are left in the underground workings. Several surface samples show good copper values along the strike of the horizon to the North. Furthermore, a zone of Copper-Nickel-Palladium enrichment was discovered by Falco in 2014 along the base of the eastern gabbro sill.