Archive for category Claim Maps

VALLEY HIGH OPTIONS FLUME PROPERTY, WHITE GOLD DISTRICT, YUKON

Valley High Ventures Ltd. has entered into an option agreement with Phelps Dodge Corp. of Canada Ltd., a wholly owned subsidiary of Freeport-McMoRan Copper & Gold Inc. to acquire a 100-per-cent interest in the Flume property located in Yukon Territory.

Valley High Copper Flume Property Map

Valley High Copper Property Map

The Flume property is located 60 kilometres southwest of Dawson City, Yukon, and 30 kilometres northwest of Underworld Resources Inc.’s white gold discovery and comprises 191 mineral claims totaling approximately 3900 hectares. It covers the headwaters of Ten Mile creek, a well known placer mining location, as well as the headwaters of Sestak creek, a drainage with reported historical placer mining activity.

The Flume property was staked by PDC in 1998, to cover drainages with anomalous gold and arsenic in government stream sediment samples. PDC subsequently completed property wide soil sampling, geological mapping, prospecting and limited trenching that defined two main target areas primarily characterized by elevated gold and arsenic soil anomalies with minor anomalous antimony (Sb) and molybdenum (Mo). The most recent exploration done on the property was a small mechanical augur program completed in 2007.

The northern Flume target has dimensions of 3.5 kilometres by three kilometres with gold in soil values ranging from 10 ppb to a high of 615 ppb. The best rock sample collected from this area returned 2.7 grams per tonne gold from quartz stockwork-bearing intrusive float. The southern Sestak target has dimensions of 3.7 kilometres by one kilometre as defined by a combined arsenic and gold soil anomaly (max gold value 1,317 ppb). Rock samples collected from this area include 10 samples that assayed greater than 1000 ppb with the best sample returning 3.5 g/t Au from a lead- and zinc-rich skarn developed in a limestone horizon within meta-sediments.

Valley High may earn a 100-per-cent interest in the Flume property from PDC by making cash payments totalling $225,000 and by completing $500,000 worth of work over four years. The initial payment of $10,000 is due on the six-month anniversary of the option and Valley High commits to completing a $200,000 work program by the second anniversary. PDC retains a 2-per-cent NSR royalty of which one-half can be repurchased by Valley High for a sum of $1-million. PDC also retains the right to share in the proceeds derived from the sale or option of the property to a third party in the amount of 50 per cent of proceeds received during the first year and 25 per cent of the proceeds in any subsequent year.

Robert Cameron states, “Having been involved from the staking and initial exploration of this exciting property for PDC, I am pleased to be able to continue with its advancement on behalf of Valley High. The recent gold discovery by Underworld at their White Gold project and the historical gold production from this placer mining region certainly supports the bedrock gold potential of this newly recognised and under explored area. Valley High continues to implement its business model of acquiring high-calibre exploration projects and may seek a joint venture partner to rapidly advance the exploration of this large promising target.”

Robert Cameron, PGeo, who is a qualified person within the context of National Instrument 43-101 has prepared and takes responsibility for this news release.

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Hinterland Options Ballarat Property In White River Gold Play, Yukon

Hinterland Metals Inc. has signed an option agreement to acquire a 100-per-cent interest in the 12-claim Ballarat property located approximately 15 kilometres to the south of the Golden Saddle zone where Underworld Resources Inc. recently reported notable gold values in drill intersections. Under the terms of the option, Hinterland has agreed to pay the vendor $40,000 cash, issue 400,000 shares and complete $500,000 of exploration work scheduled over a three-year period to earn a 100-per-cent interest in the property subject to a 2-per-cent royalty on mineral production. Hinterland will have the option to purchase 1 per cent of the royalty for $1-million and will have the right of first refusal on the remaining 1 per cent. In addition, Hinterland has agreed to pay the vendor an advance royalty of $110,000 upon the completion of an NI 43-101-compliant report that defines measured or indicated gold resources of 110,000 ounces or more on the property. The transaction is subject to regulatory approval. All securities issued pursuant to the option agreement will be subject to a four-month hold period from the date of issue.

Hinterland Properties near Underworld White Gold

Hinterland Properties near Underworld's White Gold

The vendor has been active in the White River area as far back as 1980 when he was involved in placer mining. He first staked the 102 Near claims in 1990 that covered most of Underworld’s present Black Fox property. In 1996 he restaked the 12 Kit claims at the head of Ballarat Creek to cover a southeast-trending soil geochemical anomaly outlined in 1991 that showed maximum individual values of 811 parts per billion (0.8 gram per tonne) gold (Yukon Geology AFR 092982). Quartz boulders on the Kit claims were also reported to return values up to 0.925 ounce per ton gold. Subject to the option agreement, Hinterland has staked the adjacent 68 Tik claims to cover the projected southeastern extension of the geochemical anomaly. Assuming all the staked claims are accepted and recorded by the Yukon mining recorder, the Ballarat property will include 80 claims (1,661 hectares) covering the southeastern slopes of Thistle Mountain. Historical cumulative placer gold production from creeks draining Thistle Mountain, including Ballarat, Thistle, Kirkman, Sparkling and Barker, is reported to be 104,604 ounces in the period 1913 to 2006 (compiled from Yukon Placer Mining Industry volumes published by Indian and Northern Affairs Canada).

Mark Fekete, PGeo, is the designated qualified person as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the contents of this release. The analytical results stated above are historical in nature, have not been verified by Hinterland and are not considered reliable in the context of NI 43-101.

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MPH VENTURES ACQUIRES YUKON PROPERTY ADJACENT TO UNDERWORLD’S WHITE GOLD PROJECT.

MPH Ventures Corp. has entered into an agreement to acquire a 100-per-cent interest in the quartz claims property. This property consists of 22 unit blocks in Yukon, adjacent and to the northeast of Underworld Resources Inc.’s White Gold property. The total land package is approximately 950 hectares. Underworld has been exploring sediment and vein-hosted gold targets and it has recently announced a discovery hole of 103 metres of 3.4 grams per tonne of gold. The land to the east, west and south of the quartz claims property has now been completely staked and a staking rush appears to be underway. The company is planning to mobilize a field crew to perform detailed mapping and sampling in the next few weeks.

MPH Ventures Claim Map

MPH Ventures Claim Map

A Yukon map showing the area of interest and a quartz claims property map are available on the company’s website.

MPH Ventures will pay the vender $75,000 cash and 800,000 shares of MPH plus a 3-per-cent net smelter royalty, with an option to buy back 1 per cent for $1-million. The company also agrees to spend $250,000 over the next 12 months as a work commitment.

The company will pay a finder’s fee of 75,000 common shares in connection with the property acquisition.

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MINTO EXPLORATIONS ACQUIRES ADDITIONAL SHARES OF NORTHERN TIGER

DawsonRangeMap

The Northern Tiger map is a great overview

Minto Explorations Ltd., a wholly owned subsidiary of Capstone Mining Corp., has acquired 1.25 million common shares of Northern Tiger Resources Inc. The shares were acquired pursuant to a private placement transaction at a price of eight cents per share which closed on June 1, 2009.

As a result of this acquisition, Minto Explorations holds or has control over, as at the date hereof, a total of 5,593,878 common shares which holdings represent approximately 13.5 per cent of the issued and outstanding shares of Northern Tiger, on a non-diluted basis.

Minto Explorations acquired the securities of Northern Tiger for investment purposes only and not for the purpose of influencing control or direction over Northern Tiger. Minto Explorations may, subject to market conditions, make additional investments in or dispositions of common shares of Northern Tiger.

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ARCUS ACQUIRES PROJECT ADJACENT TO UNDERWORLD’S WHITE GOLD DISCOVERY

Arcus Development Group Inc. has been granted by Atac Resources Ltd. an option to acquire a 50-per-cent interest in the Green Gulch, Touleary, Dan Man and Shamrock gold prospects, collectively referred to as the Dawson gold project. The four claim blocks cover an area of approximately 7,000 hectares and are located in west-central Yukon.

The Green Gulch claims are wholly surrounded by Underworld Resources Inc.’s White Gold discovery property. The Touleary claims are immediately adjacent to the western boundary of Underworld’s Black Fox property.

Arcus Claim Map

Arcus Claim Map

The exploration target at the Dawson gold project is orogenic gold mineralization within highly strained metamorphic rocks of the Yukon Tanana terrane. The project lies within a northwest trending belt of gold rich mineral deposits that extends from the Mount Nansen and Freegold Mountain areas, through the Sonora Gulch and Casino deposit areas and toward the Pogo mine in Alaska.

The focus of the 2009 exploration program will be geological mapping, prospecting and auger soil sampling of areas of geological interest. Follow-up work will include trenching of anomalous areas to identify potential drill targets. Atac is mobilizing crews and by starting the program as early as possible, the parties have maintained the option of drilling later in the 2009 field season.

Eric Tweedie, the Arcus vice-president of exploration, stated: “The Dawson gold project represents an excellent exploration opportunity for Arcus based on the geological setting and the proximity of the claim blocks to Underworld’s White Gold discovery. Atac was able to assemble a prospective land package in the area relatively early and cost effectively.”

To exercise the option and acquire a 50-per-cent interest in the project, Arcus is required to make aggregate payments to Atac of $185,000 cash and one million shares and incur exploration expenditures of $3.5-million prior to Dec. 31, 2011. The option is subject to Arcus completing a financing of not less than $1-million prior to Aug. 1, 2009. The terms of the financing have not been finalized and will be announced at a later date.

Upon the completion of its financing, Arcus will reimburse Atac for costs incurred by Atac as part of the 2009 program. All reimbursement costs and Arcus expenditures following the closing of the financing will be applied against the Arcus expenditure requirements.

If Arcus does not complete the financing by Aug. 1, 2009, the option will terminate and Atac will complete the 2009 program on its own behalf. Prior to completing its financing, Arcus will not have access to exploration results from the 2009 work program at the Dawson gold project.

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