The Delta property was optioned to a private company (see News Release dated March 9, 2016) for $1.0 million in cash payable over four years. Teuton will retain a 2.5% NSR in the westernmost claims, and a 1.5% NSR in the claims to the east)
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Summary

The Delta property is the third of a group of Teuton properties lying along the southerly trend of Jurassic age rocks that host the various gold deposits of Pretium’s Brucejack property.   Work done intermittently from 1985 to the present has disclosed several gold-bearing or gold-anomalous zones within  the claims area.

In 1985 limited prospecting disclosed an area of highly anomalous heavy metal stream sediments, ranging from   1,255 to 6,500 pbb gold and from 20.0 to 141 ppm  silver.   Rock sampling undertaken during this year led to the discovery of an isolated occurrence containing visible gold.  Larger programs conducted in succeeding years, disclosed an area of extensive soil geochemical multi-element anomalies (gold, silver, lead, zinc).   The only source found to date to explain the geochemical anomalies is a number of narrow, high-grade vein structures.  A small drilling program conducted in 1986 near the visible gold occurrence was not successful in locating economic mineralization.

In the aftermath of the Eskay Creek discovery the Delta property was optioned by Canarc Resources.  Extensive prospecting, geological mapping, geochemical sampling and limited surface geophysical surveying were carried out in 1990.  This work expanded the known geochemical soil anomalies (+400 ppb gold contour) but did not determine a definitive source.  McCrossan, et al stated: “Geophysical IP anomalies in the vicinity of the J Zone indicate the possible presence of metal sulfides near a rhyolite-argillite contact. Some potential exists for Eskay Creek-type gold rich massive sulfide deposits on the Delta Property”.

The only other drilling done on the claims has been near the Feld gossan, located west of the geochemically anomalous area (see picture).   A prospecting traverse undertaken in   2011 defined two areas containing good surface gold values.  Later that year, two holes were drilled west from a pad into an area from which surface samples returned values ranging from 0.74 to 47.8 g/t gold. Neither of the holes reached the downward expression of the surface mineralization. It appears that the pad was emplaced too far east, but because of a spalling glacier located immediately above the mineralized zone, this was the closest it could be put in without endangering the drill crew.

Another three holes were directed at various azimuths from a pad constructed below a second mineralized gold zone discovered by prospecting (the Feld showing).   This pad was also not ideally located, as severe weather prevented location of a pad to a preferred site immediately above the zone.  One of the holes is thought to have intersected the downward projection of the zone, returning a 5.8m interval grading 3.0 g/t from 210.9 to 216.7m.  The other holes were drilled at steeper angles and did not reach the projected gold-bearing area.

In 2012, two holes were drilled from a pad set up much higher than this surface gold-bearing exposure, in order to test an area of prospective geology.   One of the holes contained two narrow sections of extremely fine-grained, massive sulfide mineralization containing appreciable lead, zinc, silver and gold values.

The lead-zinc mineralization appears to have been remobilized, and is hosted within a volcaniclastic-flow sequence with associated discordant stockwork stringers. Preliminary assessment suggests the mineralization could be VMS (Volcanogenic Massive Sulfide) in nature, similar to that at Eskay Creek. Unfortunately, shortly after intersecting the mineralized zone, drill hole HS12-02 had to be terminated at 850 feet due to high avalanche risk in the area supplying water to the drill.

Due to limited funds,  very limited follow-up work has been done on the property since.

Area Map


Feld Showing


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