The High North 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 claims.
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Summary


The High North property is located immediately south of Seabridge Gold’s KSM property.   Rocks of the Triassic age Stuhini Group which host the large copper-gold deposits on the KSM property extend southward into the High North property.  Most importantly, the Sulphurets Fault  extends southward into the High North property for a distance of 5 km.

Seabridge is still actively exploring the many deposits on its property.  As of March 2016, reserves and/or resources for these various deposits stand as follows:

Deposit Name
Resource Type
Tonnage  (Million Tonnes)
Cu Grade(%)
Contained Cu(Million lbs)
Gold Grade (g/t)
Contained Gold (Million ounces)

Mitchell

Proven

476

0.17

1,798

0.67

10.3

Mitchell

Probable

935

0.16

3,296

0.57

17.2

Iron Cap

Probable

193

0.20

834

0.45

2.8

Sulphurets

Probable

318

0.22

1,535

0.59

6.0

Kerr

Probable

242

0.45

2,425

0.24

1.9

Lower Iron Cap

Inferred

163

0.27

960

0.59

3.1

Deep Kerr

Inferred

1010

0.53

11,800

0.35

11.3

Exploration by Seabridge in 2015 increased inferred resources at Deep Kerr  by 3.2 million ounces of gold and 2.1 billion pounds of copper over last year’s estimate.  In a news release dated March 8, 2016, Rudi Fronk, President of Seabridge Gold noted:

“the size of Deep Kerr continues to grow with no diminishment of grade. Furthermore, we have not yet found the limits of the immense mineralizing system that created Deep Kerr. In the three years since its discovery, Deep Kerr has taken its place among the world’s largest gold-copper deposits. The shape of the deposit continues to support cost-effective block-cave underground mining methods and the updated resource estimate has been carefully constrained by this mining method.”

The area in the southernmost part of Seabridge Gold’s KSM property and further south yet into Teuton’s High North property is quite rugged, much of it is at high altitude and large portions are covered by ice.    Nevertheless, based on geological considerations, one can assume that  potential exists for the discovery of  further deposits on this ground.

For one, a literature search conducted over the 2013-14 months has disclosed details of an old prospecting traverse on Seabridge Gold’s claims located a few hundred meters north of the common boundary between the KSM and High properties.  Rock geochemical samples taken along this traverse carried anomalous copper values of the same magnitude as those found over what is now the Kerr deposit and may possibly indicate the presence of another porphyry system.

Recently, Jeff Kyba, Northwest Regional Geologist for the BC government,  has stated his belief that the contact between the Triassic and Lower Jurassic (between the Stuhini and Hazelton group rocks) is an important horizon for locating mineral deposits.

“Geologists Jeff Kyba and Joanne Nelson from the British Columbia Geological Survey may have unlocked the secret to world-class porphyry and intrusion related gold-copper deposits in northwestern B.C. 

They’ve discovered that most of the major deposits in the region occur within 2 km of a regional stratigraphic contact, and, according to Kyba, there are lithological and structural clues to narrow that window even further.

 “The contact represents a period in earth’s history when a lot of deposits in B.C. were forming,” Kyba says during an interview with The Northern Miner. “But no one really knows what controlled their emplacement and where best to look. We’re trying to answer that question, and so far the results are very exciting………..”

Kyba mentions he has an “open-door” policy on the data he uses, and offers explorers a geological map that highlights the prospective contact as a thick red line.

 “If you’re near that red line, and there’s a clastic sequence coupled with large-scale faults then you might be in the neighborhood of B.C.’s next big deposit,” he says. “And knowing that is a big game-changer for explorers in the region because it’ll get them closer to making a discovery.”  [Excerpted from the May 1,2015 Edition of the Northern Miner]

Speaking specifically about the KSM and neighbouring Brucejack properties, Kyba also stressed the importance of the Sulphurets fault, which he believes to be an important second key to locating mineralization.  More of the Northern Miner article, follows:

But a change in lithology across the contact isn’t the only thing Kyba suggests is a useful proxy to finding “nation-building” ore deposits.  

Brucejack and KSM are both encased in a large halo of a highly deformed, quartz-sericite-altered host rock. Immediately to the east is a large, Cretaceous-aged thrust fault called “Sulphurets” that caps the altered ore-host. 

Kyba reckons that it’s no coincidence the prominent fault is so close to the deposits. 

 “When the Stikine was compressed, all the prospective structures bounding these old basins were slippery because of the alteration associated with the porphyries. So they were the first to fail, and became reactivated as younger, prominent thrust faults.” [Excerpted from the May 1,2015 Edition of the Northern Miner]

The Sulphurets Fault passes through 5km of the High North property, and the Triassic age Stuhini group rocks lying to the east of it and hosting the KSM copper-gold deposits continue down into High North property along the eastern side of the fault for its entire length.

Area Map