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.
The Lorne Creek Au-Cu-Mo Porphyry
The newly discovered Lorne Creek Au-Cu-Mo 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.
Assays from the porphyry centre, stockwork and veins outcropping at surface sampled UP TO (not suggesting the core will similar or indicative grades – assays pending):
• 2.95 g/t Au
• 133 g/t Ag
• 4.5% Cu
• 0.34% Mo
A long discovery hole was completed and announced on August 15, 2019 that reached a depth of 718 metres to the drills maximum depth capabilities; the system remains open. From the surface to a depth of 718 metres, the core from hole one contains widespread sulphides, including key alteration, textures and geologic units consistent with a porphyry system – assays are pending.
A second drill hole has now commenced with a planned depth of up to approximately 700 metres. The second hole was at 135 metres as of the date of the news. It contains porphyry textures, alteration and widespread sulphides – assays are pending.
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 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. An inaugural drill program is scheduled for July 2019.
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
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.