Posts Tagged Area Play

TITAN 24 SURVEY IDENTIFIES PRIORITY TARGETS AND DRILLING UNDERWAY AT SONORA GULCH

Posted by Admin in Field Work, News Releases on July 15th, 2010

Northern Tiger Resources Inc. confirms that a number of high-priority targets have been identified by a deep-penetrating geophysical survey done by Quantec Geosciences Ltd. (the Titan 24 survey) at Sonora Gulch in the Dawson Range, Yukon. Two holes have been completed in a planned 3,000-metre diamond drilling program that commenced on June 29.
“This is a large and attractive target based on the results of the Titan 24 Survey combined with the Cu-Mo-Au-Ag geochemical signature and similar age of intrusive host rocks to the nearby Casino copper-gold-molybdenum porphyry deposit,” says Greg Hayes, President of Northern Tiger. “An intense IP response mantling around a non-chargeable core in our target area is very encouraging and further supports our porphyry exploration model.”
As disclosed in a previous news release (February 25, 2010), many common indicators of a porphyry system have been identified on the project, including a large potassic alteration zone, a copper-molybdenum soil anomaly, and flanking gold and base metal mineralization.
Based on analysis of the Titan 24 Survey and in consultation with Northern Tiger’s geologists, Quantec has recommended 14 drill holes to test 9 separate but spatially related high priority chargeability anomalies. These anomalies cover a 2 by 1-kilometre area, surrounding and draping over a less chargeable core. Chargeable zones are also associated with more conductive areas within the resistivity data. Many of the chargeability anomalies are related to a zone of intersecting structures that may be important for ground preparation. In addition, an airborne magnetic survey defined an arcuate magnetic anomaly at the contact between Cretaceous intrusions and the surrounding country rock.
The Titan 24 Survey consists of 6 lines (each 2.4 kilometres long) spaced 400 metres apart, covering an area of approximately 4.8 square kilometres. Direct current resistivity and induced polarization data are mapped to depths of approximately 750 metres. A presentation of the Titan 24 results will be posted on Northern Tiger’s website.

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KAMINAK GOLD CORPORATION ANNOUNCES AN INCREASE TO OVER-ALLOTMENT OPTION OF EQUITY FINANCING

Posted by Admin in Financings, News Releases on July 13th, 2010

Kaminak Gold Corp., in connection with its previously announced bought-deal offering co-led by Canaccord Genuity Corp. and Mackie Research Capital Corp., and including Fraser Mackenzie Ltd., has increased the overallotment option of the offering from 15 per cent of the gross proceeds raised to 45 per cent of the gross proceeds raised through the offering, and now includes up to $1.5-million of flow-through common shares and $3-million of common shares. If the overallotment option is fully exercised, the gross proceeds from the offering will be $14,503,900.

The company intends to use the net proceeds of the offering to conduct exploration activities on its Coffee project located in the White Gold district, Yukon, and for general working capital purposes.

Closing of the offering is anticipated to occur on or before July 29, 2010, and is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange. Securities issued under the offering and through the overallotment option will be subject to a four-month hold period, which will expire four months from the date of closing.

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Kaminak Gold Does Huge Financing

Posted by Admin in Financings, News Releases on July 12th, 2010

Kaminak Gold Corp. has entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp. and Mackie Research Capital Corp. and including Fraser Mackenzie Ltd. to sell 3,335,000 common shares at a price of $1.50 and 2,942,000 flow-through common shares at a price of $1.70 for total gross proceeds of $10,003,900. In addition, the company will grant the underwriters an overallotment option, exercisable prior to the closing of the offering, to purchase from the company up to an additional 15 per cent of securities issued through the offering, in any combination of common shares and flow-through shares, at the same price as is applicable to the offering.

The underwriters will receive a cash commission of 6 per cent of the gross proceeds raised, and non-transferable share purchase warrants entitling the underwriters to purchase, at a price of $1.50 within 24 months after closing of the offering, common shares equal to 6 per cent of the total number of securities sold pursuant to the offering.

The company intends to use the net proceeds of the offering to conduct exploration activities on its Coffee project located in the White gold district, Yukon, and for general working capital purposes.

Closing of the offering is anticipated to occur on or before July 29, 2010, and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. Securities issued under the offering and through the overallotment option will be subject to a four-month hold period which will expire four months from the date of closing.

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Silver Quest Starts Drilling in Yukon

Posted by Admin in Field Work, News Releases on June 16th, 2010

Silver Quest Resources Ltd. has commenced the 2010 drill program at the Boulevard project. Boulevard is located 135 kilometres south of Dawson City, 35 kilometres south of the Golden Saddle deposit and 10 kilometres southwest of Kaminak’s recent discovery on its Coffee property. The Boulevard property consists of 238 claims, totalling 4,975 hectares. For a property location map and more detailed property information please see the company’s website.

Under the supervision of Equity Exploration Consultants Ltd., the drill program is intended to test the depth extension of mineralization discovered in 2008 as well as other recently defined targets. Mineralization occurs along a 2.5-kilometre-long gold-arsenic-antimony-barium soil geochemical anomaly as well as in trenches located within the anomalous area. The drill program will include approximately 2,500 metres of diamond drilling in 13 drill holes.

David Pawliuk, PGeo, is the qualified person as defined by National Instrument 43-101 and supervised the preparation of the technical information in this release.

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Arcus announces flow-through financing and expansion of Yukon land package

Posted by Admin in Financings, News Releases on June 16th, 2010

Arcus Development Group Inc. (the “Company”) announces that subject to regulatory approval, it will carry out a non-brokered private placement of flow-through shares. Up to 7,500,000 flow-through shares will be sold at $0.20 per share for proceeds of $1,500,000. Funds from the placement will be used to finance 2010 work on the Company’s projects in the Yukon.

The Company’s Yukon gold projects consist of the Green Gulch and the Touleary properties, immediately adjacent to the Underworld Resources White Gold property and the Dan Man property, immediately adjacent to the Kaminak Gold Coffee property. Maps showing the locations of the properties can be viewed on the Arcus website.

The Company also announces that it has increased the size of its Dan Man property through the addition of 203 new mineral claims. These new claims are located immediately north of the Company’s original Dan Man claims and were acquired through staking. “Based on the encouraging results from Kaminak’s initial drilling on its Coffee claims, Arcus has significantly increased the size of its Dan Man claim block and is accelerated its 2010 exploration programs in the White Gold area,” reported Ian Talbot, the Company President.

Phase one of the Company’s 2010 Yukon program will focus on mechanically trenching soil and rock geochemical anomalies identified at each of the Dan Man, Green Gulch and Touleary properties in 2009. The phase two program will consist of the drill testing of targets identified during the stage one trenching program.

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Pacific Ridge Announces Exploration Plans for Klondike Gold Projects

Posted by Admin in Corporate Updates, News Releases on April 20th, 2010

Pacific Ridge Exploration Ltd. will commence a second year of gold exploration on its Klondike Kate project comprising four properties held within the Yukon’s South Klondike region. Exploration interest was first seen in the region in late 2008 after reports of Underworld Resource’s White Gold discovery. Recently, Underworld accepted a takeover offer from Kinross valued at approximately $118-million for acquisition of its 1.4-million-ounce White Gold deposit. With a major gold company now in the South Klondike, coupled with 30 junior exploration companies reporting activity, additional gold discovery is anticipated. Pacific Ridge acquired its South Klondike holdings through a combination of the company’s principals having prior exploration experience and historic exploration data in the region as well as contacts with Yukon prospectors.

Pacific Ridge, encouraged by its 2009 exploration results and overall discovery success reported in the South Klondike, plans an initial exploration expenditure of $1.3-million for its Mariposa, Gold Cap, Polar/Stewart and Eureka Dome properties.

Mariposa, comprising 246 mineral claims and covering 50 square kilometres, is located 50 kilometres southeast of White Gold. Pacific Ridge holds an option to earn a 100-per-cent interest subject to a 2-per-cent royalty from the Tintina syndicate. The Pacific Ridge 2009 exploration program included prospecting, historic data compilation, geologic mapping and initial soils geochemical surveys. Mariposa covers a 14-kilometre length of geological and aeromagnetic signatures bearing similarities to the White Gold and Kaminak’s Coffee Creek discovery.

Mariposa has seen a 100-year history of placer gold mining, which in one area, has produced hackly nuggets suggesting proximity to potential lode gold sources. The property contains a seven-kilometre (open-ended) zone of quartz mica schist rocks hosting sulphide mineralization with grab samples assaying to three grams per tonne (g/t) gold. Yet to be more fully defined this season, geochemical anomalies in soils range from 20 parts per billion (ppb) to 1,300 ppb gold.

The 2010 exploration program, budgeted at $1.0-million, will include expanding geochemical sampling grids to delineate the ultimate dimensions of gold anomalies. Trenching will then be directed to expose bedrock and the facilitation of sampling. Drilling of selected gold targets is proposed during the later part of the season.

The 56-claim Gold Cap property covers 12 square kilometres and adjoins the northeast boundary of Underworld’s White Gold property. Gold Cap is 100 per cent owned and was staked by Pacific Ridge on the basis of an anomalous gold silt sample reported by the Geological Survey of Canada. The Pacific Ridge 2009 exploration program saw soil sampling within a two- by four-kilometre grid, flanking an aeromagnetic anomaly. An open-ended gold, nickel and arsenic anomaly includes gold in soils ranging to 290 ppb gold, indicating stronger values building toward its open-ended northerly trend. The 2010 exploration program, budgeted at $100,000, will extend the geochemical survey three kilometres to the northwest. Trenching will be contingent on additional geochemical results.

Polar/Stewart, consisting of 149 mineral claims, covers 31 square kilometres adjoining Gold Cap to the west and claims held by Underworld to the south. Pacific Ridge holds an option to earn a 100-per-cent interest subject to a 2-per-cent royalty, from prospector Shawn Ryan. The property was acquired on the basis of favourable geology, an aeromagnetic anomaly and reconnaissance soil sampling yielding gold values reaching 634 ppb gold. The 2010 exploration program, budgeted at $100,000, will include grid-controlled geochemical soil sampling followed by trenching where warranted.

Eureka Dome, 100 per cent owned by Pacific Ridge, with the 156 Eureka and Moose claims covers 33 square kilometres. Eureka Dome can be partially accessed by road and joins the eastern boundary of claims held under option by Golden Predator.

Notable are placer gold occurrences reported in most creeks draining the property coupled with geochemical anomalies indicating the presence of a high-level epithermal style alteration system. Anomalous arsenic (3,000 ppb) and mercury (17 parts per million (ppm)) occur within silicified and brecciated rocks. Prior workers reported breccia float samples grading to 14 grams gold, and silt samples running to 900 ppb on immediately adjacent properties. The 2010 exploration program, budgeted at $100,000, will include geochemical sampling within a by four-kilometre grid covering the anomalous areas of brecciated rocks to then be followed by trenching and sampling.

Elsewhere, Pacific Ridge continues to maintain its interests in the Baker Lake uranium project in Nunavut and the Fyre Lake copper, gold project in southeast Yukon as well as the Tumbler phosphate project in northeastern British Columbia.

Pacific Ridge’s disclosure of a technical or scientific nature has been reviewed by George Norman, PGeo, exploration manger for Pacific Ridge and a qualified person under the definition of National Instrument 43-101.

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Yukon (White) Gold Rush Fever

Posted by Admin in Analysis, Commentary on July 27th, 2009

Richard (Rick) Mills

www.aheadoftheherd.com
                   As a general rule, the most successful man in life is
                             the man who has the best information

White Gold Area Play

Seemingly not a single day goes by without a news release about another company staking claims and citing recent drill results from Underworld Resources UW.v as the reason why. Underworld’s recent exploration success has created renewed interest in Canada’s Yukon Territory and in the market.

The importance of Underworld’s discovery cannot be overstated in the context of Yukon exploration and the markets in general. This kind of good news can excite the market for the entire junior gold exploration sector. Also area plays, where one company makes a discovery, then dozens of other companies rush in to stake all around them, are one of the very foundations of our junior markets.

Underworld’s assays are the most significant gold intercepts ever reported in the White River/Yukon River junction area and very possibly the best new gold discovery in Canada over the last several years. As the story at Underworld’s White Gold project unfolds I believe we can expect exciting times for those investors who get involved with the various companies participating in, what still are, very early days of this developing area play.

Geology and Mineralization

The White Gold District lies within the Tintina Gold Belt (a 200-km-wide, 1,200-km-long arc extending from northern British Columbia  into southwest Alaska) and is underlain by rocks of the Yukon-Tanana geologic terrane. The Tintina Gold Belt includes such large gold deposits as Pogo (3.6 M ozs P & P reserves), Fort Knox (3.8 M ounces P & P reserves, 1.7 M ozs M & I resources), True North, Donlin Creek (29.3 M ozs Au Proven & Probable reserves, 6.0 M ozs Au Measured & Indicated resources) and Shotgun.

No one has yet defined a geological model for the White Gold occurrences because the geology of the Underworld discovery is different than other discoveries in the Tintina gold belt. This could be significant because it might mean broad areas that had seen scant attention during past exploration efforts could now become the focus of intensive work programs that have a very real potential for success.

The Underworld discovery properties host multiple styles of gold mineralization including: quartz veins, hydrothermal breccias and disseminated sulphide targets indicated by widespread soil geochemical anomalies. The dominant mineralization at Golden Saddle is quartz, albite and carbonate breccias with low volumes of disseminated pyrite. At the Arc Zone mineralization is characterized by breccias with a matrix of sulphides including pyrite and arsenopyrite. Property basement geology consists of five stacked thrust sheets of lower to middle-amphibolite facies Yukon-Tanana schist and gneiss.

There is some consensus that mineralization is probably intrusion related due to elevated Molybdenum numbers and the hydrothermal alteration but no direct connection to an intrusion has been made so far. There is quartz in veins, stockworks and breccias as well as sulphides in what appears to be a linear moderately dipping structure. More drilling and study is needed to develop a geological model of the White Gold discovery.

Area Play

Located in a new emerging gold province in the Yukon Territory Canada, the White Gold area play has the potential to go for several years as field crews are mobilized to the Yukon and news flow will be constant from almost all the companies involved.

Underworld’s discovery has sparked a land rush, there are an increasing number of savvy explorers and market players staking whatever land they can get surrounding the discovery area. A select few companies will be buy and hold for drill results and many others will present trading opportunities.

Given very legitimate, and increasing daily, concerns about growing country risk this is an extremely timely article about a truly exciting gold area play. Canada’s Yukon Territory is one of the most geologically prospective and pro-mining jurisdictions in the world today.

All the elements of a new area play are here:
1) A spectacular new discovery, with new geology or a twist on old geology
2) A jurisdiction with safe and reasonable tenure.
3) An area amenable to mineral exploration and development.

The White Gold Area Play junior players are gathering for what could be one of Canada’s most important gold discoveries. There is huge upside potential in any of these juniors if they make another discovery. One drill hole could send their (and their neighbors) share price soaring. And if there is a new geological model for UW’s discovery this would open a whole new chapter in Tintina Gold Belt exploration. In alphabetical order (after Underworld) here are a few companies that I found very interesting and have singled out. Below these companies is an extensive, but likely not exhaustive, list of the White Gold Area Play juniors.

Underworld Resources (UW.v) –  The company who started it all. Low share count, 16,900 hectares of property in the area of their discovery and approximately $16,000,000 in their treasury.

Cariboo Rose (CRB.v)  – Has the 4,800 hectare Canadian Creek property 50 km southeast of White Gold. It is optioned out 60:40 with CRB holding 40%. The property has an untested soil gold-arsenic anomaly similar to White Gold. Details of this summer’s exploration program are pending. CRB is part of the Eastfield Group and follows the prospect generator model.

Kaminak Gold (KAM.v) – Has three properties totaling 7,680 hectares 27 and 8 km southeast of UW’s White Gold property. KAM was the first into the area and have announced an aggressive program totaling at least $500,000 for this year. KAM is part of the Discovery Group and follows the prospect generator model.

Northern Tiger (NTR.v) – Seven Properties totaling 5,244 hectares 65 km southeast of White Gold, Sonora Gulch is their flagship property.  Capstone CS.t, owner of the Minto mine, retains back-in rights to acquire a 65% interest in any of Northern Tiger’s projects located within a 50 km radius of the Minto Mine that are found to have mineralization amenable to processing in existing Minto Mine facilities. A $1-million dollar program is budgeted for this summer. Capstone owns 13.5% of the issued and outstanding shares of Northern Tiger.

Valley High Ventures (VHV.v) –Valley High acquired the 3,900 hectare Flume property, 30km northwest of UW’s White Gold, from Phelps Dodge. It is more advanced than most of the properties optioned by other area players and has had extensive soil sampling done.

Area Play Portfolio
UW.v      PEX.v
ALR.v     CDB.v 
MPS.v    NTR.v
HAO.v    AIX.v
MCI.v     HMI.v
NCM.v    SQA.v
ABR.v     NET.v
VHV.v     ALN.v
WER.v    SQI.v
ALN.v     URA.v
CRB.v     KAM.v
ATC.v     ADG.v

Canada’s Yukon Territory has a stable geopolitical environment and a tremendous wealth of mineralization. History has proven time and time again that junior exploration stocks can write a very exciting discovery story and reward investors with multiple returns on their capital. It is still very early days in the White Gold Area Play and the greatest rewards lie ahead of us.
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If you’re interested in the junior resource market and would like to learn more please come and visit us at.
http://www.aheadoftheherd.com/
 
Richard (Rick) Mills
www.aheadoftheherd.com
rick@aheadoftheherd.com

Bio – Richard is host of www.aheadoftheherd.com and invests in the junior resource sector. His articles have been published on over 60 websites including – Wall Street Journal, 321Gold, Kitco, USAToday, Safehaven, The Gold/Energy Reports, Gold-Eagle and Financial Sense.

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Westar Resources Acquires Claims in White Gold District, Near Underworld Resources

Posted by Admin in News Releases, Property Acquisitions on July 8th, 2009

Weststar Resources Corp. has entered into an agreement to acquire an undivided 100-per-cent interest in the Golden Fox claims, located in the Yukon, Canada. The Golden Fox claims, consisting of 50 claim units totalling approximately 2,500 hectares, are located on the eastern border of Underworld Resources Inc.’s Black Fox property, near the headwaters of Thistle Creek.

GSC mapping by Gordey and Ryan suggest the claims host similar metasedimentary stratigraphy as found on nearby properties currently being explored, including the White Gold property located approximately 20 kilometres to the northwest, owned by Underworld, where numerous encouraging drill results have been reported. The Thistle Creek area has seen placer gold production over the past 30 years, producing in excess of 63,000 ounces of gold (Yukon Geological Survey Records, 2008). The source of this placer gold is unknown at this time.

The Golden Fox claims have been acquired from an arm’s-length party. Acquisition costs are as follows:

$75,000 due on signing of the agreement;
$75,000 cash and 2.5 million shares of the company due within five days of TSX Venture Exchange approval of the acquisition;
The vendor will retain a 3-per-cent net smelter royalty, of which one-third (1 per cent) can be purchased by the company for $1-million;
The company is also required to spend $250,000 over the next 12 months as a work commitment.

The acquisition is subject to TSX Venture Exchange approval.

Weststar is planning to mobilize a field crew to the property as soon as possible to begin a systematic geological and geochemical survey of the claim block.

“We are very excited to obtain these strategically located claims in an area that has created a substantial amount of news lately, and which looks to contain a significant new gold discovery,” states Weststar president Mitchell Adam. “We’re looking forward to quickly establishing the merits of this gold property, enhancing and diversifying our asset base alongside our coal holdings.”

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About Whitegolddistrict.com

Posted by Admin in Editorial on June 26th, 2009

This site is about the developing Area Play in the vicinity of Underworld Resources and their new discovery at the White Gold Property. Significant thicknesses of gold mineralization were discovered by Underworld including 3.39 g/t Au over 104.0 meters. This has sparked the largest land rush in the Yukon in years and now more than twenty companies have announced new claims in the area. To make everyone’s life easier this site will be updated daily with news releases from all the players involved in the White Gold Area Play. Unlike other sites who specialize in a particular commodity or are a newsletter writers ramblings, this site will focus on the White Gold Area Play itself. Check out the Player Profile page for a quick summary of all involved so far. Please bookmark this site or check back daily!

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VALLEY HIGH OPTIONS FLUME PROPERTY, WHITE GOLD DISTRICT, YUKON

Posted by Admin in Claim Maps, Property Acquisitions on June 25th, 2009

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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