Drill-ready with 1.2km long outcropping quartz reef
Tenement: EP 60446
Area: 16.75 km2
Historical Production: 41koz at 26.4g/t Au (cut off grade 15g/t Au). Mine closed in 1942 due to WWII.
Status: Drill permits held
Exploration: 1.2km long outcropping quartz reef with mineralization defined by surface trenching over 800m long and 4m wide @ 8g/t Au. Width suitable for mechanized mining.
Located: 15km from the Blackwater Mine (740koz @ 14.6g/t Au)
Significant resource potential
Trenching of quartz reef outcrop (over 800m long, 4m wide @ +8.0g/t)
|Surface trenching grades
|4.5m @ 12.9g/t Au (Bull)
|8.0m @ 7.5g/t Au (McVicar)
|2.2m @ 35.4g/t Au (McVicar)
|9.3m @ 10.7g/t Au (Bruno)
|4.2m @ 7.6g/t Au (Bruno)
|3.0m @ 19.0g/t Au (Bruno)
|3.0m @ 8.5g/t Au (Bruno)
|2.7m @ 15.7g/t Au (Bruno)
|2.4m @ 9.3g/t Au (Bruno)
High-grade trench & underground channel sampling (plan view)
Exploration Strategy – Alexander River
Numerous “High Grade” veins within the 1,200m long quartz reef
Drilling Strategy (3,700m)
- Phase 1 - Drilling 1,500m
- 24 drill holes 100m apart with two holes per section.
- intersecting reef at 25m and 75m effective depth coverage 100m below surface
- Phase 2 – Drilling 2,200m
- 12 drill holes 100m apart
- depth coverage 150m below surface
Alexander River - Comparable to Blackwater
- 1,200m strike length
- Historical production of 41koz @ 26.4g/t Au (ceased during WWII)
- McVicar Lode mined to 250m and current depth potential unknown
- Alexander River potentially larger than Blackwater due to increased strike length (800m - 1,200m).
- 800m long strike length.
- Historical production of 1.58Mt @ 14.6g/t Au for 740koz to 700m depth
- Mined to 700m and open at depth to 1,500m
- Resource of 700koz to a depth of 1,500m (0.9Mt @ 23g/t Au)
- Federation Gold agreement with OGC to purchase asset and provide first US$5m funding
- Mining permit approved (6 months)
- Provincial growth fund have provided a $15m loan