Owned: 100% owned by Colorado Resources Ltd
- Extensive Trenching Program over the Hit and Miss Minfile occurrences with samples from quartz veins ranging from trace to 22.4 g/t Au.
- Two short drill holes (totalling 185.93 m) were drilled at the Hit Minfile occurrence.
- Ground IP survey over the property covering the Hit and Miss Minfile occurrences. Indicated various chargeability and resistive targets.
- Soil sampling program indicated sporadic, isolated gold and mutli-element anomalies.
In 2010-2011, exploration work was conducted on the original Hit Claims (752.4 ha) covering the Hit and Miss Minfile occurrences. In 2011 this work included:
- A trenching program over the Hit Minfile occurrence that exposed 26 m of well mineralized multi-episodic quartz veins averaging 5.58 g/t Au and 56.8 g/t Ag over an average horizontal width of 1.4 m,
- High grade within the trenching program returned values up to 11.9 g/t Au and 152.0 g/t Ag over 0.75 m.
|Trench||Sample||From||To||Width||Gold (g/t)||Silver (g/t)|
|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|
In the fall of 2011, Colorado Resources acquired additional property by purchase agreements and staking around the original Hit Claims, increasing the Property size to 11,785.5 ha and covering 18 Minfile occurrences.
In 2012, an extensive property wide exploration program including:
- 3,582 soil and till samples taken from road cuts and a 1,700 by 800 m east-west soil grid north of Dillard Lake in addition to 31 rock samples indicated multiple copper and gold anomalous areas throughout the Property,
- 45 line kilometers of IP along road cuts and three east-west grid areas identified four chargeability anomalies,
- Surficial Geology Study undertaken by Dr. Vic Levson on the Property gained a better understanding of the glacial cover and its constraints on exploration.
Spring 2014, Colorado completed a small work program on the Hit Property. This program consisted of:
- Collection of 646 soil samples which were analyzed by XRF
- Collection of 9 rock samples which were sent to Bureau Veritas Mineral Laboratories (previously known as ACME Limited)
Exploration program resulted in:
- Discovery of one new area of zinc geochemistry (eastern portion of the property)
- Multi-element XRF anomaly at the Rum & Coke minefile occurrence returned high copper-zinc values (greater than 95 percentile threshold). Lead, molybdenum and gold values were also noted
- Stringer Lake and MacKenzie Lake sampling showed high XRF arsenic values (64 ppm) and molybdenum (65.9 ppm). The area is also prospective for calc-alkalic copper, +/- molybdenum, +/- gold and +/- silver
On November 18, 2014 Colorado and the vendors amended the terms of the Aspen Option to acquire 16 mineral tenures which collectively formed part of the Hit Property. Colorado has subsequently exercised the Aspen Option and has acquired its 100% interest, subject to a 2.5% NSR payable to the vendors of which 2% may be purchased for $4,000,000. Please see News Release 14-10- November 18, 2014 for further details of this agreement.
Colorado continues acquiring property through purchase agreements and staking.
In 2015, Colorado plans to:
- Follow up on 2012 and 2014 geochemical anomalies with more detailed rock and soil sampling along with geological mapping and prospecting,
- Follow up on 2012 and 2014 chargeability anomalies by extending geophysical surveys, infilling survey lines, geological mapping, and geochemical sampling,
- Continue to explore newly acquired Minfile occurrences and historical geochemical anomalies, and areas of interest,
- Continue to identify and prospect new forestry road and trail networks on the property.
Investors are cautioned that the exploration target at Hit is an early-stage exploration prospect, conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
The above technical information and all the other technical information on this website pertaining to geology and drill hole data was prepared under the supervision of Colorado's Vice-President of Exploration Greg Dawson, P.Geo. a Qualified Person as defined in National Instruments 43-101 - Standards of Disclosure for Mineral Projects.