WHEATON SHEA OVERVIEW

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PROPERTY SIZE:

1800 hectares  (~2 km x ~9 km)  

DEPOSIT MODEL:

Au-Quartz Veins (orogenic)

EXPLORATION STAGE:

Early-Stage

LOCATION & INFRASTRUCTURE:

The property is located approximately 60 km east of the town of Dease Lake, British Columbia and covers the headwaters of the placer gold-bearing Wheaton and Shea Creeks which are host to some of BC’s coarsest gold nuggets, including the second largest nugget ever found in BC, weighing in at 52 oz. Wheaton represents one of BC’s most underexplored placer districts in BC with very limited exploration work done to date.     

The project is not remote with road access from Dease Lake and a float plane accessible lake with dock is situated at the edge of the property. Furthermore, old mining trails provide access to most of the property. A 40-man placer camp and heavy machinery is situated at the edge of the property. 

Subdued topography and abundant trail networks allow for cost effective skid-mounted diamond drill programs (not expensive helicopter-supported drill operations like most projects in NW BC). 

Gigametal’s Turnagain Nickel-Cobalt deposit has resulted in the proposal of a major road and transmission line that cuts through the Wheaton-Shea property, further bolstering the economic potential of the area. 

EXPLORATION HISTORY AND HIGHLIGHTS:

A historic surface geochemical survey in 1986 outlined a gold-in-soil anomaly with soil samples up to 32 g/t Au and rock grab samples up to 11.25 g/t Au. This surface anomaly has never been expanded to date. A single drill hole discovery in 1986 has never been followed-up to date. 

     •4.91 g/t Au over 3.05 meters (from 28.96 meters) 

     •1.72 g/t Au over 3.05 meters (from 38.1 meters) 

     •0.81 g/t Au over 3.05 meters (from 68.58 meters) 

     •3.16 g/t Au over 2.44 meters (from 139.29 meters) 

A recent airborne magnetic survey flown over the property (2021) defined an open-ended NW-SE linear magnetic low feature that correlates with the 1986 discovery holes and is believed to represent a listwanite-altered fault zone. This survey provides new exploration targets which have not been tested.

Pacific Bay Minerals, a junior mining company, consolidated a portion of the property and promoted it from 2015 to 2022 but only conducted a property-wide airborne magnetic survey, with no boots-on-the-ground work being completed. This property has since been acquired and further consolidated by Cordilleran Properties and for the first time ever, the entire headwaters of both placer gold-bearing Wheaton and Alice Shea Creeks are available for option. 

 The Alice Shea creek became known when a 52 oz gold nugget was found by Mrs. Alice Shea in 1937. Alice Shea found the 8-inch-long nugget by accident while walking up the creek drainage. The nugget was resting on the surface, wedged under a boulder. The nugget was found at ~ 1500 m elevation, high in the drainage basin. Continued placer mining efforts through the 1930’s discovered many more course nuggets weighing up to 16 oz, with most of them found high up in the Alice Creek drainage. Miners reported that most of the coarse nuggets contained quartz vein material, suggesting the bedrock source lies in the headwaters of the Alice Shea Creek in the form of quartz veins.

The BC government bought the 52 oz nugget, and it is now on display at the Royal Museum in Victoria BC. The nugget remains the largest still intact gold nugget found in BC and the 4th largest gold nugget ever discovered in BC.

Numerous prospectors and exploration companies have attempted to find the source of the placer gold over the past century, but no one has been successful to date. Despite numerous attempts, no large scale systematic geochemical sampling program has occurred on the property. The Weaton and Alice Creek placer gold was one of the last major discoveries in Northwest British Columbia, not being discovered until the 1930’s, and therefore did not benefit from a stampede of old-timer prospectors who would have typically covered every square inch of the property once word got out about the coarse gold nuggets. Had the placer gold at Alice Shea been discovered near the turn of the 19th century, it is possible the source of the giant gold nuggets may have been discovered by prospecting efforts. 

MINERALIZATION & GEOLOGICAL SETTING:

The property hosts rich placer deposits (coarse nuggets up to 52 oz Au), quartz veining associated with extensive listwanite alteration zones, and host lithologies similar to the Cassiar Gold camp, which historicaly produced 425,000 oz and currently has a mineral resource estimate of 1.4 M oz Au @ 1.14 g/t Au (Cassiar North Deposit). The Alice Shea property is hosted in a ultramafic package of the Cache Creek terrane and situated 100 km  southeast of the Cassiar Gold Camp. The coarse placer gold nuggets, altered ultramafics (listwanite), fine grained sedimentary rocks (ophiolite sequences), shear zones, and quartz veining observed at the property over a 9 km trend, suggests potential for a robust motherlode orogenic gold system with district scale potential. 

RECOMMENDED WORK:

To date, no large scale, systematic soil sampling program has ever occurred on the property. A gridded, tight spaced soil sample survey is recommended to cover the entire drainage and headwaters of Alice Creek and further expansion and delineation of the the mineralized zone drilled in 1986 is also recommended.  

TERMS:

4-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 4-year period

o Signing of Contract - $ 10,000

o Year 1 - $15,000

o Year 2 - $25,000

o Year 3 - $50,000

o Year 4 - $100,000