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Spot Gold: Price $1591.64
Spot Silver: Price $28.47
INTRODUCTION
LOCATION AND GEOLOGY
The 100% owned Vega claims cover 6,716 hectares located between the Osilinka and Mesilinka river systems in the Omineca Mining Division of British Columbia, 300 km northwest of Prince George. Access to the property, which lies at an elevation of 1200 – 1400 metres, is via the Omineca Mines Access Road and logging roads. The property lies on a north-northwest trending fault structure in Takla Group Volcanic rocks of Upper Triassic to Jurassic age. This volcanic sequence has been intruded by syenite, monzonite and diorite dykes and sills related to the Hogem Batholith to the southwest. Intrusive volcano-sedimentary contacts parallel the regional northwest structural trend.
EXPLORATION HISTORY
Early prospecting in the project area in the 1930’s reported exposed mineralization with copper and gold values, although the source has not been confirmed by recent exploration. In the 1960’s and 1970’s Rio Tinto, Croyden Mines and B.P. Minerals undertook geochemical and geophysical surveys in the area, and a 2,200 metre diamond drill program in 12 holes, reporting only anomalous copper and gold values.
During the 1980’s Canmine Development Co. and Canasil Resources tested the area with soil geochemistry outlining several large zones with anomalous values in copper, gold and arsenic. Cyprus Gold (Canada) tested these zones with an 8 hole diamond drill program of approximately 1,150 metres. The highest gold value intersected was 2.03 g/t (0.059 opt) over 1.45 metres (4.76 ft.) in V-88-01, and the best weighted average intercept was 0.51 g/t (0.015 opt) over 5.96 metres (19.55 ft.) in V-88-08.
EXPLORATION POTENTIAL
The regional and geological setting of the VEGA property and numerous copper and gold geochemical anomalies in the area are strongly indicative of mineralized systems hosting large gold-copper porphyry deposits. The relatively shallow historical drilling in the area tested a small zone and failed to locate significant ore grade mineralization. Further prospecting, geological mapping and systematic exploration is required to investigate the source of the copper and gold mineralization observed in and around the project area and the potential for larger mineralized structures.