KING DENISON OVERVIEW
PROPERTY SIZE:
919 hectares
DEPOSIT MODEL:
Cu-Mo (Au) porphyry
EXPLORATION STAGE:
Early-Stage
LOCATION & INFRASTRUCTURE:
The property is located 40 km northeast of Hazelton, BC. The property is accessible by a combination of 4-wheel-drive vehicle and a ~4 km helicopter ride.
MINERALIZATION & GEOLOGICAL SETTING:
The King Denison claims cover the King showing, a known Cu-Mo occurrence. The property is underlain by a stock of the Late Cretaceous Bulkley Intrusions which intrude Middle Jurassic to Lower Cretaceous Bowser Lake clastic sedimentary rocks. The intrusive rocks are coarse-grained and range from diorite through granodiorite to granite in composition. Aplite dikes are common in the stock.
Fracture-controlled chalcopyrite mineralization is very extensive on the property, occurring over an area 1500 metres east-west and 800 metres north-south. Molybdenite mineralization is more localized and is found in fractures, with or without quartz, cutting the chalcopyrite mineralization. Pyrite is associated with the chalcopyrite, but is not abundant.
Weak K-feldspar alteration is associated with the mineralization, and kaolinization is associated with some of the molybdenite mineralization. Magnetite is found in the intrusive rocks away from the mineralized areas.
EXPLORATION HISTORY AND HIGHLIGHTS:
The area was worked in 1964 and 1965 by Falconbridge Nickel. They performed four shallow diamond drill holes; however, no results are available for this work.
In 1967 and 1968 Mastadon-Highland Bell performed soil sampling (259 samples), geological mapping, and a ground magnetometer survey. They also cut 7 kilometers of line in preparation for an IP survey which not conducted until the property changed hands. The conclusion of this exploration program was:
“Chalcopyrite mineralization occurs disseminated and as fine stringers in dioritic rocks and is concentrated in an area of intense fracturing. This mineralization seems associated with potassic feldspar alteration. The widespread occurrence of malachite and some azurite suggests an oxidation zone below which primary copper mineralization can be expected.”
Cities Services Minerals performed an extensive IP survey in 1974, and returned to drill the area in 1975. Five diamond drill holes ranging from 275 to 665 ft depth were completed. While drill logs are available, the assays have been blacked out. The drill logs, however, document large sections of highly fractured rock with pyrite, chalcopyrite, and molybdenite. The core was stored on the property and may be available to examine.
During 1980, the property was briefly worked by J. Mirko and M. Quadros. The two completed a 4-day reconnaissance program consisting of geological mapping and prospecting. A 1500m east-west by 800m north-south area of widespread chalcopyrite and malachite mineralization was identified, with localized molybdenite mineralization associated with a separate set of late fractures and quartz veins. This area is substantially larger than the geophysical grid and area of drilling performed by previous operators. Only 3 grab samples were taken during the program, and assays of granodiorite returned values up to 0.68 percent copper and 260 ppm molybdenum.
From 2005 to 2006 Tanqueray Resources completed limited surface geochemical work and an airborne magnetic survey. The geochemical work was mostly limited to silt sampling within the creeks.
The airborne magnetic survey outlined the Buckley intrusion (~9 x 3 km) and highlighted numerous structures and discontinuities, but of specific interest is the radiometric results. There is a circular feature of potassium enrichment centered around the showings and the soil sample anomalies, approximately 2 x 2 km in size. This is best displayed on the Th/K ratio map. Potassium enrichment is commonly associated with altered, mineralized bedrock seen in other porphyry deposits in the cordillera (Mt Milligan, Casino, etc).
From 2010 to 2014 Fractal Mining Corp. completed a significant ground geochemical survey (380 soil samples), IP (26 line km), ground magnetics (23 line km), and an airborne VTEM survey. Many of the Cu-Mo soil anomalies they discovered were “tentatively linked to bedrock sources based on the IP/Resistivity survey and the ground magnetic survey.” Many of these soil sample anomalies remain open with no follow-up work.
The geophysical surveys also revealed “an interpreted highly resistive plug feature with a long axis measuring some 1,500 meters”. This is the dominant geophysical feature on the property and it appears to have a high chargeability halo associated. Potentially, part of this halo gives rise to the amorphous shaped geochemical anomalies to the north and west while the resistive core area of the “plug” may host more linear anomalies.
RECOMMENDED WORK:
· Geological mapping should be conducted to define rock types and alteration zones associated with the areas of the 2010 soil geochemistry anomalies. The geometry and geology of the “plug” outlined in the geophysical surveys should be determined and attempts made to obtain samples for age-dating. Additional soil sampling should be undertaken to the west and north of the 2010 soil grid to determine the extent of the anomalies in the valley and on the ridgeline.
· The drill core from the 1974 program should be located and sporadically sampled for indications of grade.
· Based on a compilation of the results from the prior programs and on the recommended geological mapping, the property should be drill tested for Cu-Mo porphyry deposits.
TERMS:
3-year option agreement to earn 100% interest in the property with a 1% NSR reserved for the vendor.
- Cash or stock equivalent payment of $200,000 to the vendor over a 3-year period
o Year 1 - $ 30,000
o Year 2 - $50,000
o Year 3 - $120,000