Projects
Hit Property
Overview
Target: epithermal gold in quartz veins and porphyry copper-gold
Property:
- located approximately 27 km's north of Princeton, B.C
- Original Hit Main Zone covered by two mineral claims covering an area of 752.4 hectares
- Expanded in 2011 by the acquisition from a third party of 31 claims covering an additional 8,546 hectares - the Aspen Grove South property
- Well accessed by a series of well-maintained mainline forestry roads
- Colorado has option to acquire 100% interest of the original Hit Claims and owns the additional Aspen Grove South properties 100 % subject to 2.5 % NSR (the first 1.5 % of which may be purchased for $1 million and the remaining 1% for $3 million)
HIGHLIGHTS
2011 Exploration
At the Hit Main Zone, gold mineralization occurs in mesothermal quartz veins that are hosted in a 40 metre wide shear zone as demonstrated by previous trenching. The 2011 trenching program exposed a 120 by 25 metres portion of the main zone and was channel sampled across its entire width with the channels at 2 to 4 metres spacing. In total 736 channel samples were collected.
A 26 metre section in the southern part of the exposed system was dominated by well mineralized multi-episodic quartz veins that at a cut-off grade of 2.4 g/t gold averaged 5.58 g/t gold and 56.8 g/t silver over an average horizontal width of 1.4 metres (estimated true width of 1.1 metres). The best interval from this section returned 10.6 g/t gold and 98 g/t silver over an estimated true width of 1.0 metre. A select sample quartz vein material from this interval returned 55.8 g/t gold and 577 g/t silver.
The table below summarizes some of the better grade intercepts returned from other parts of the exposed vein system.
| Trench | Sample | From | To | Width | Gold (g/t) | Silver (g/t) |
|---|---|---|---|---|---|---|
| 60 | 170573 | 5.25 | 6.00 | 0.75 | 11.9 | 154.0 |
| 39 | 170278 | 4.60 | 5.60 | 1.00 | 9.80 | 118 |
| 48 | 170401 | 4.65 | 5.50 | 0.85 | 7.20 | 100 |
| Trench 90-07 SE wall | 170606 | 2.40 | 3.00 | 0.60 | 9.80 | 122 |
| Trench 90-07 NWwall | 170615 | 4.30 | 5.30 | 1.00 | 7.40 | 76.0 |
A compilation program was also completed during 2011 to bring together and analyze all of the historic geophysical data with the geophysical data collected by the Company in 2010. The results of this compilation demonstrate that the shear zone that hosts the quartz veins at the Hit Main zone is clearly defined as a linear conductive feature containing several discreet zones of lower magnetic intensity. This feature, called the Hit Shear Zone, is at least 2.5 kilometres in length, extending from south of the Hit showing northwest to the property boundary. Except at the trenched area at the Hit Showing, the Hit Shear Zone is covered by glacial till and has never been tested by trenching or drilling.
Historic
Hit Occurrence
- The HIT prospect occurs in the northern part of the Hit 1 claim and was discovered in 1990 during development of logging roads through an area of previously unexplained small gold in soil anomalies. Backhoe trenching partially defined a 30-100 m wide shear zone, striking north to northwest for at least 380 metres, hosting mineralization in quartz veins and stockworks.
- The prospect is characterized as a series of north to northwest striking and easterly dipping sheared blocks of altered volcanic rocks with possible felsic intrusives containing gold+/-silver bearing quartz-pyrite-galena shear, tension and stockwork veins. The gold appears to be associated with sulphides, especially galena.
- Historical channel sampling in 1990 of the north-trending quartz vein system, in the southern half of the shear zone, reported an average grade of 12.3 grams per tonne gold and 119 grams per tonne silver over a strike length of 109.7 metres and an average width of 1.4 metres (B.C Assessment Report 21402, page 13). Trench sampling was completed using 2 metre and overlapping vein width sampling intervals. Gold values from the chip samples ranged from trace to 24.6 g/t. The 2 metre samples were not collected on the basis of lithological changes and were not taken at right angles to the exposed quartz veins. This sampling indicated that only 37 % of samples grading more than 0.250 g/t Au came from quartz vein material, implying that much of the gold must be hosted in wall rock or non-vein material.
- Two drill holes in 1991 intersected weakly mineralized sections of the shear that hosted weakly pyritic quartz veins within erratically mineralized fault gouge and alteration zones. Gold values in drill core ranged up to 0.60 gram per tonne (Assessment Report 22084, page 10). It is important to note that these holes were abandoned prior to their target depths due to poor ground conditions, and were in Lindinger's opinion (author of the 2010 43-101 Technical Report) inadequately sampled.
- The MISS prospect is currently defined as a 450 by 50 metre wide zone hosting single to multiple 0.2 to 1.5 metre wide zone of auriferous quartz-sulphide veins and stockworks. The quartz veins and stockworks strike north-northeast with dips ranging from vertical to steeply east and west. The veins and stockworks are associated with at least one northeast striking steeply dipping structure adjacent to the eastern contact of a felsic intrusive along the west edge of Summers Creek Canyon.
- The mineralized veins are hosted by weakly altered and variably sheared andesites and andesitic pyroclastic rocks, near the eastern contact with a strongly quartz-sericite-clay altered disseminated pyritic diorite and volcanic zone. In the areas tested the zone hosts at least one, and usually several narrow sub-parallel steeply to moderately dipping quartz veins, structures and stockworks. These veins and structures host variable amounts of banded sulphides including galena, sphalerite, chalcopyrite and pyrite.
- Coincident with the 450 metre zone partially identified through trenching, is a moderate to locally strong precious and multi-element soil anomaly. The soil and rock anomaly extends to the north and east off of the MISS claim block.
- The south end of the MISS zone was tested in 1987 with five holes on two sections 200 metres apart. The precious and base metal assays from the two most southeasterly holes on line 2000 S were the best obtained from the 1987 drill program. The results ranged from below detection to maximum of 0.40 g/t Au over and estimated true width of 2.7 m. The other three 1987 drill holes tested a barren felsic dyke, thought to represent the upper levels of a possible porphyry copper hydrothermal system (Groeneweg, 1988). No assay results were reported for the two drill holes on 1800 S.
- The NORTH HIT showing, located 1 kilometre north-northwest of the HIT prospect was also discovered by trenching in 1991. Here, a partially explored northwest striking shear zone with quartz veining contained from trace to 0.71 g/t gold over 2 metres and from trace 0.58 g/t gold over 1 metre in trenches 50 metres apart. Both may be exposures of the same zone as further indicated by a 2007 geophysical program.
The Aspen Grove South Property
The 8,546 hectare Aspen Grove South Property surrounds the Hit 1 and Hit 2 claims. The property has the potential to contain quartz vein hosted gold mineralization similar to that found on the Hit claims as well as alkaline porphyry copper -- gold mineralization similar to the Copper Mountain deposit 30 kilometers to the south.
- Although the area has seen a considerable amount of work since the 1970's copper boom, many of the more than 19 known mineral minfile occurrences on the Aspen Grove South property have seen little detailed follow up, even when such work was recommended.
- At the Pine showing, seams and disseminations of chalcopyrite and pyrite occur in reddish granite and quartz monzonite. Trenches excavated in an area 270 metres long and 60 to 90 metres wide averaged 0.20, 0.19 and 0.37 per cent copper over lengths of 48.8, 42.7 and 45.7 metres, respectively. The last recorded work on the Pine was in 1973.
- At the Golden 1 occurrence, a gossanous zone up to 70 metres wide trends 160 degrees for up to 340 metres in a section of tuff and tuff breccia with minor lahar deposits and agglomerate. Mineralization consists of malachite, bornite, chalcocite and chalcopyrite. Samples taken from the zone have assayed over 1 per cent copper (Assessment Report 9821, page 5). The last recorded work on the Golden 1 occurrence was in 1984.
- At the Vale occurrence, work by Cordilleran Engineering in 1991 defined a 400 m long gold in soil anomaly with several contiguous high values of up to up to 710 ppb Au. The anomaly could be reflecting high grade vein hosted gold mineralization similar to Gold Mountain Mining Corporation's Elk deposit 12 km to the north of the property.
