The “Golden Triangle” may be one of the most prolific mining areas in the world. Estimated to hold about 219 million ounces of gold, about 87.7 million pounds of copper, and about 1,342 million ounces of silver, it could offer substantial opportunity for Metallis Resources Inc. (TSXV: MTS)(OTCQB: MTLFF)(FSE: 0CVM), Seabridge Gold Inc. (NYSE:SA)(TSX:SEA), Eskay Mining Corp. (TSXV:ESK)(OTC:ESKYF), Tudor Gold Corp. (TSXV:TUD)(OTC:TDRRF), and Skeena Resources Ltd. (TSX:SKE)(OTC:SKREF).
Better, “Over 130 million ounces of gold, 800 million ounces of silver and 40 billion pounds of copper have been discovered in the Golden Triangle and this is only scratching the surface. Exploration results by numerous junior explorers have made it clear that the Golden Triangle is metal-rich with further significant discovery potential,” as reported by Resource World.
One of the Companies Operating in the Golden Triangle is Metallis Resources Inc.
Metallis Resources Inc. (TSXV: MTS)(OTCQB:MTLFF)(FSE:0CVM) just announced the commencement of its 2021 drill program at its 100%-owned Kirkham Property. The Property is situated in the prolific Eskay Camp of the Golden Triangle in northwestern British Columbia, a district known worldwide for the past producing Eskay Creek and Snip gold mines, Seabridge’s KSM porphyry deposits and Pretium’s producing Brucejack gold mine.
An initial 8,000m drill program has begun – with a focus on the Cliff-Miles porphyry corridor that forms a 4 km section of the Hawilson Monzonite, a 7.5 km long porphyritic intrusion on the property. The Program will target two types of mineralization. The first holes (Click Here to View Map) are intended to test for higher grade copper and gold mineralization beneath previous drill hole intersections. The other target in the Miles Zone is the large gold-bearing overprinted siliceous zones and quartz-carbonate-sulphide veins that are coincident with a prominent IP resistivity-high and a strong gold-in-soil geochemical anomaly. Preliminary results from the recently completed property wide ZTEM survey, along with drill core re-logging and ground truthing work over the last two weeks, has helped support the geological team with confirming optimal drill collar locations.
Metallis’ VP of Exploration Dave Dupre stated, “Metallis’ planning and early execution of time sensitive actions have led to the on-time commencement of the diamond drilling program at the Cliff/Miles Zone. During the past two weeks, the field crew has constructed most of the drill pads and relogged over 6,500m of drill core from 12 holes that have a bearing on this year’s target selection.” He went on to add, “A very aggressive drilling campaign has been planned for this field season. This program will seek to expand on last year’s results such as KH20-37 which returned 83m @ 0.68 g/t AuEq.* and KH20-34 which returned 141m @ 0.64 g/t AuEq.”
*Gold equivalent grades (“AuEq.”) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% as no metallurgical data are available. The metal prices including: US$1700/oz Gold, US$20/oz Silver, US$3.0/lb. Copper & $9.0/lb. Mo. were used for (AuEq g/t).
Other related developments from around the markets include:
Seabridge Gold and Eskay Mining Corp. announced that they have entered into an agreement whereby Seabridge and Eskay Mining will share the costs equally on construction of the first 9 kilometres of the Coulter Creek Access Road, estimated to cost $12.0 million. Construction is planned to commence in July. Eskay Mining's share of the costs will be financed by Seabridge. As background, the CCAR is one of two main access roads planned and permitted for Seabridge's 100% owned KSM project situated within the Golden Triangle in British Columbia, Canada. The road is designed to connect the KSM project with the existing Eskay mine road to the northwest (see attached map). Approximately 2.92 kilometres of the First Segment of the CCAR is situated on mineral tenures held by Eskay Mining.
Tudor Gold Corp. announced the proposed spin-off of its six contiguous mineral properties located in the Golden Triangle Area in northwestern British Columbia by way of a plan of arrangement under the Business Corporations Act (British Columbia). In furtherance thereof, the Company has entered into an arrangement agreement with Goldstorm Metals Corp., a wholly-owned subsidiary of the Company. Pursuant to the Arrangement, among other things:
Tudor Gold shareholders will receive approximately 0.253 of a common share of Goldstorm for every one common share of Tudor Gold held; and Goldstorm will acquire the Company’s six contiguous Golden Triangle Area mineral properties, being the Mackie East, Mackie West, Fairweather, High North, Delta and Orion and Electrum properties in consideration for Goldstorm issuing 44,999,999 Goldstorm Shares to Tudor Gold.
Skeena Resources Ltd. announced the results of the Prefeasibility Study completed by Ausenco Engineering Canada Inc., supported by SRK Consulting (Canada), and AGP Mining Consultants, for the Eskay Creek gold-silver project located in the Golden Triangle of British Columbia. Skeena’s CEO, Walter Coles Jr. commented, “Eskay Creek has a rare combination of attributes: scale, impressive grade and location in a tier one mining jurisdiction with strong First Nations support. In the first 5 years of operation, it is anticipated that Eskay Creek will produce, on average, 450,000 gold equivalent ounces per year. We expect further increases to the annual production profile as we move to the Feasibility Study in Q1 of 2022, and beyond. Our goal is to create a mine producing 500,000 gold equivalent ounces per year for 10 years. The PFS is only based on the current open-pit resources. Skeena has a 35,000-metre exploration program underway at Eskay Creek to continue to grow the open-pit resources, and we have yet to focus on the considerable underground exploration potential.”
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