A Large, Shallow, Gold-Silver System with High-Grade Roots?
The 100% owned, helicopter accessible, 5,099-hectare Golden Lion property hosts the large, near-surface, ‘GL1 Main’ epithermal gold-silver system, which drilling by the Company in 2020 (1,647 metres in 10 holes) confirmed exhibits both bulk-tonnage and high-grade vein styles of mineralization, and geophysics and geochemistry strongly suggests offers considerable near-term upside in the depth dimension, as well as along strike. The property is located in the Toodoggone region of northcentral British Columbia, approximately 70 kilometres northwest of Centerra’s Kemess copper-gold mine, and 24 kilometres north of Benchmark’s Lawyers project. It was previously held and drilled (2,475 metres in 22 holes) by Newmont during a time of declining gold prices in the mid-1980s.
Drilling completed by the Company on the GL1 Main target during the 2020 field season returned broad bulk-tonnage style intercepts of gold and silver-bearing epithermal mineralization, with local higher-grade intervals, suggestive of the upper part of the system and comparable to the historical Newmont drill results. In follow-up, the Company returned to the property in 2021 with the overriding objective of testing for high grade roots below the broad near-surface zone tested to that point in time by shallow drilling only. To this end, a total of 1,811 metres were drilled in 9 holes in July 2021, with selected holes returning the most encouraging hydrothermal alteration, including intervals of semi-massive to massive sulphide, seen by the Company in drilling on the property to date. Assays are presently being awaited.