Lucky Strike Property
The Lucky Strike property covers 31,511 hectares and has logging road access. It is within a few kilometres to a major highway, power, rail and only 40 kilometres north of major infrastructure in Terrace BC. The property is located south of Golden Triangle area, and resides within the Skeena Arch, a belt-scale structural corridor associated with significant porphyry and related mineralization.
Lorne Creek Au-Cu-Mo Monzonite Porphyry System
The newly discovered Lorne Creek Au-Cu-Mo Monzonite Porphyry System is defined by a 1200 by 700 metre aleration system, with a significant monzonite porphyry outcropping at surface. It is cored by QSP, containing gold bearing chalcopyrite and molybdenite stockwork mineralization.
All of the 2018 bedrock samples taken from the porphyry centre, stockwork and veins outcropping at surface either contained gold, silver, copper, molybdenum and or a combination thereof. The outcropping porphyry centre at surface contains gold-bearing chalcopyrite and molybdenite stockwork mineralization.
These bedrock samples returned grades up to:
• 2.95 g/t Au
• 133 g/t Ag
• 4.5% Cu
• 0.34% Mo
It successfully completed three drill holes as of August 26, 2019 for a total of 1741 metres containing wide spread disseminated sulphides from its inaugural diamond drilling program at its newly discovered Lorne Creek Au-Cu-Mo Large Porphyry System. All three diamond drill holes confirmed the presence of widespread sulphide mineralization, including key alteration, textures and geologic units consistent with a porphyry system from the surface and to the bottom of all drill holes, the system remains open.
All three holes contained widespread sulphides from collar to termination at 718 metres, 501 metres, and 522 metres respectively that all remain open. These early results exceeded expectations confirming the presence of a robust porphyry system that remains open and under-explored, we look forward to receiving assay results and future a follow up drill program.
All three holes were drilled from the same pad, the details are:
* LS-19-01: Drilled to 718 metres, system remains open, Az: 0 (N), Dip: 70
* LS-19-02: Drilled to 501 metres, system remains open, Az: 30 (NE), Dip: 70
* LS-19-03: Drilled to 522 metres, system remains open, Az: 330 deg (NW), Dip: 70
Web link to a video of drilling the Discovery Hole # LS-01-19, at the large Lorne Creek Au-Cu-Mo Monzonite Porphyry System – Click Here
The gold, copper and molybdenum grades are consistent with typical porphyry systems. It’s situated at the headwaters of Lorne Creek, the most prolific placer creek in the entire district with historical placer gold production of 13,721 troy ounces and nuggets of up to 1.5 ounce gold (1886 – 1940, see BC MINFILE No. 103I204, 103I050 and 103I207).
The source of the Lorne Creek placer gold is believed to be attributed to erosion of the gold mineralized bedrock from the headwaters where the Lorne Creek Au-Cu-Mo Monzonite Porphyry System is located.
This discovery was made by an independent porphyry expert, where bedrock has been exposed due to the receding glaciers and permanent snowpack.
Mapping has highlighted a spatial link between polymetallic Au/Pb/Zn/Cu/Ag veins and Cu-Mo porphyry centre. These veins are coincident with historically documented porphyry related polymetallic veins in Lorne Creek.
Along the headwaters of Lorne Creek, a series of silt samples were taken during the 2017 season. These returned multi-element anomalies, including copper, molybdenum, and gold values up to 402 ppb. A historic BC MINFILE report (No. 103I027) from this creek reports angular, pyritized and quartz-veined boulders hosted in a molybdenum-rich porphyry environment
Link to video of the model – Click Here
Link to video of the samples – Click Here
Gold Source Zone
A 2017 angular talus sample of a hydrothermal breccia assayed 96.8 grams per tonne gold (3.1 ounces per tonne gold), this sample was taken 65 metres downslope from the newly discovered Gold Source Zone of outcropping hydrothermal breccia (link to images). The Gold Source Zone is an epithermal, milky quartz hydrothermal breccia and sheeted vein corridors extend more than 400 metres along an E-W trend and over 200 metres wide and remains open. The trend is highly oxidized with primary sulphide contents ranging typically between 1-5% that are now represented by limonitic voids and boxworks (link to video). The recently acquired airborne magnetic data identified a circular feature centered around the Gold Source Zone hydrothermal breccia. The diameter of the circular feature is approximately 1 kilometer and it is located at the confluence of several NE-SW trending magnetic lineaments. Channel sampling, prospecting, and mapping remains ongoing in this area to trace the full extent of the zone in preparation for drilling in 2018.
galena and chalcopyrite mineralization have been observed in outcrop (link to video). Additional prospecting and mapping are underway to trace out the full extent and significance of this new zone; assays are pending.
The Lucky Strike property was used as Goliath Resources Limited’s qualifying property to complete its reverse-take-over on October 11, 2017. A technical report was prepared and completed in accordance with NI 43-101 Standards of Disclosure for Mineral Projects. A copy of this report can be downloaded here and also can be found on SEDAR at www.sedar.com.