Mineral Exploration

Winter 2020

Mineral Exploration is the official publication of the Association of Mineral Exploration British Columbia.

Issue link: http://digital.canadawide.com/i/1319479

Contents of this Issue


Page 18 of 47

W inte r 2020 19 NORTHEAST AND NORTH CENTRAL REGIONS Precious metal projects Artemis Gold Inc. acquired the Blackwater Gold project from New Gold Inc. for approximately $210 million. At a 0.20 g/t AuEq cut-off, the total Measured and Indicated mineral resource is estimated at 597 Mt at 0.65 g/t AuEq, 0.61 g/t Au and 6.4 g/t Ag for a total of 12.4 million AuEq oz. Revised pre-feasibility study results included an unlevered after-tax NPV of $2.2 billion, an after-tax IRR of 35 per cent and payback on initial capital costs of two years. The project has both provincial and federal environmental assessment approval. BW Gold Ltd. (a wholly owned subsidiary of Artemis) plans to move the project forward with construction starting in the second quarter of 2022. Benchmark Metals Inc. planned to complete up to 100,000 m of diamond drilling in 2020 at its Lawyers project. The project has five discrete zones (Cliff Creek, Duke's Ridge, Phoenix and AGB) targeted for their bulk tonnage potential. Highlight results included 57.91 m of 1.90 g/t Au and 91.96 g/t Ag and 31 m of 2.98 g/t Au and 72.77 g/t Ag. Results are to be used to prepare a global resource estimate and a preliminary economic assessment in early 2021. Independence Gold Corp. announced that 2,200 m in 11 holes would be drilled in the fall at its 3Ts project. Drill collar location selection was largely based on an extensive compilation and a 3D geological model of the known epithermal vein system, in addition to magnetic and spectral surveys, completed in 2019. At its Golden Lion project, Evergold Corp. reported broad intersections of epithermal mineralization from more than 2,500 m of drilling at the GL1 "Main" prospect. The company also carried out an IP survey that defined a resistivity and chargeability anomaly encompassing hundreds of m of strike length, broad widths, and untested down-dip potential NV Gold Corporation carried out detailed mapping, trenching, soil sampling, project-wide geophysics and structural modeling at its optioned Exodus Gold project. These data were to be used to develop diamond drill targets. In September, Tower Resources Ltd. carried out reverse circulation (RC) drilling on its Nechako Gold project to map out a mineralized trend beneath thick till cover. Drilling was designed to follow up on spring diamond drill results that returned 7.1 m grading 2.75 g/t Au and 40 g/t Ag. Results from the RC drilling along with ground magnetic and IP geophysical surveys were to be used to target approximately 2,000 m of diamond drilling. High Range Exploration Ltd. planned to extract a 10,000 t bulk sample from its Dominion Creek gold property. The sample would be shipped to Nicola Mining Inc.'s mill and Nicola will be responsible for negotiating the sale of concentrate to a smelter or third-party purchaser. Cu-Mo, Cu-Au-Ag, and Mo (porphyry) projects Amarc Resources Ltd. filed a 43-101 report providing details on the potential of the Company's JOY porphyry Cu-Au deposit. Small's.indd 1 2019-08-12 8:18 AM

Articles in this issue

Archives of this issue

view archives of Mineral Exploration - Winter 2020