Summary
The Silver Crown 6 property, owned jointly by Teuton and Silver Grail Resources Ltd., lies immediately north of Decade Resources’ Red Cliff property, and is now under option to that company. Decade’s Montrose zone has returned several spectacular drill intersections in recent years, some of which lie just a few hundred metres south of the Silver Crown 6 claim. Potential for strike extensions of the Montrose zone into the Silver Crown 6 is considered excellent.
Location & Property Status
The Silver Crown 6 property is located north of Stewart, BC, at the headwaters of Lydden Creek. Road access exists from Highway 37, located a few km to the south.
Decade can earn an 100% interest in the claim, subject to a 2% Net Smelter Royalty, by spending $1,500,000 over a four year period. Total cash consideration over the term of the option equals $100,000 all of which has been received. Decade will also issue 100,000 shares of its common stock to Silver Grail and Teuton upon regulatory approval. A further 200,000 shares is payable at the end of the option period.
Regional Deposits
On the adjoining Red Cliff property of Decade Resources, two mineralized zones have been identified. These are the Redcliff copper-gold and copper zones as well as the Montrose gold zone.
The Redcliff Zone contains 2,300 m of underground development on 5 levels from 4 portals over a height of several hundred meters with limited Cu-Au production reported in 1910-12 and in 1973. From 1910-12 production from the Redcliff zone amounted to approximately 1,136 tonnes estimated to average 5% Cu. In 1972 some 3,776 tonnes of ore was sent to a local mill. The only reserve estimate reported for the Redcliff Zone was in 1912 showing a total of 18,900 tonnes averaging 3.19% Cu and 2.86 grams per tonne gold. This estimate was only for broken mineralized material within a stope on one of the levels in the mine. This estimate is historical and is not 43-101 compliant and is used for reference purposes only.
On the Montrose zone during 1939-41, there was 65 tons mined averaging 2.45 opt Au, 2.95 opt Ag, .91% Cu, 3.5% Pb and 4.41 % Zn.
Work in the area of high grading during a previous operator’s sampling program in 1979 yielded 19.31 g/t over 2.43 m and 1987 surface sampling gave 7.93g/t over 3.81 m. Several holes drilled in 1988 to 1990 gave intercepts of 1.72 g/t over 14.48 m including 9.31 g/t over 1.70 m and 1.17 g/t over 16.89 m including 4.82 g/t over 2.29 m.
In 1988 the Waterpump Zone which represents the south fault extension of the Montrose Zone was discovered. It is located approximately 50 meters south of the 1939-1941 mining. A trench over the zone gave values consisting of 21.37 g/t over 4.2 m and 6.89 g/t Au over 3.3 m with 2.0 m of dyke between the values. Across the entire zone including the dyke, the sampling yielded an average of 12.07 g/t Au over 8.5 m.
Some of the drilling intersection highlights on the Montrose zone include values up to 7.5 g/t gold over 32.5 meters in DDH-2009-MON-1 [located 200m south of the Silver Crown 6], 4.17 g/t gold over 48.48 meters in DDH-2009-MON-2, 7.3 g/t gold over 28.4 meters in DDH-2009-MON-3, 5.78 g/t gold over 28.17 meters in DDH-2009-MON-4, 4.75 g/t gold over 39.63 meters in DDH-2009-MON-5 and 20.87 g/t gold over 24.7 meters in DDH-2009-MON-6. This drilling indicated a zone of higher grade mineralization that should be defined in further programs.
To date, mineralization has been outlined over 1.5 kilometers of strike and is open along strike and at depth. This distance extends from the area of DDH-2009-Mon-1 to 11 to the portals at the south end of the property along Lydden Creek. In the area of DDH-2009-1 to 11, the zone is obscured by talus towards the northwest. At the south end of the claims, parallel copper-gold zones are indicated in the portal area of the original Red Cliff mine workings. To date, exploration has only tested a very small portion of this system.
Mineralization on the Silver Crown 6 Claim
To date, five types of mineralization have been located on the Silver Crown 6 claim. The first type of mineralization consists of weakly sericitizied andesitic rocks with minor fine grained pyrite on the west side of American Creek. This type of alteration-mineralization is similar to the area that hosts the gold bearing rocks on the adjoining Red Cliff property.
The second type of mineralization consists of massive quartz, locally banded with black chlorite containing 10-25 % pyrite and local fine grained chalcopyrite. This type of mineralization appears in the footwall region of the Montrose zone and can be up to 30 m wide.
The third type of mineralization consists of quartz-sulphide vein stockworks extending north from the Red Cliff property onto the northwest portion of the Silver Crown 6 claim. The vein stockworks are up to 20 meters wide and have been traced for over 100 meters of strike length on the Silver Crown claim. The extension on to the Silver Crown 6 claim is the north portion of a 2 km long shear zone that has been traced over 2 km on the adjoining Red Cliff Crown Granted claims. The Silver Crown 6 claim contains the extension of the Montrose zone defined on the adjoining Red Cliff property.
The fourth type of mineralization consists of massive red hematite veinlets containing coarse cube pyrite. This type of mineralization has only been seen in drill core.
The fifth type of mineralization encountered on the property consists of northwest trending vuggy quartz-calcite veins and stockwork which form a mineralized zone at least 1.5 metres wide and at least 60 metres long. The zone contains galena, sphalerite, chalcopyrite and pyrite which form massive to semi-massive lenses, pods and stringers. Veins and stockwork constitute 10 to 40 % of the mineralized zone and the sulphide content varies from 10 to 100% of the individual veins. In January to February 2008, a total of 1402.45 meters of diamond drilling was completed in 9 holes on the area of this mineralization. Drilling was conducted in an area where trenching in 2006 yielded an assay of 0.09 g/t Au, 167.3 g/t Ag, 1.72 % Cu, 22.7 % Pb and 8.44 % Zn over 1.5 meters of width within a massive sulphide lens. The best drill results were obtained from hole SCR-2008-2 which returned a 0.46 meter interval of 8.3 g/t Ag, 0.11 % Pb and 20.1 % Zn as well as hole SCR-2008-8 which returned 2.13 meters of 23.3 g/t Ag, 1.48 % Pb and 4.05 % Zn.
In the period May 2012 to the end of October 2012, a program of drill trail construction was undertaken from the Red Cliff Crown Granted claims on to the Silver Crown 6 claim. The north extension of the Montrose mineral zone was exposed and 3 drill holes completed from a single drill pad. A total of 403.66 meters of diamond drilling was completed in 3 holes on the Silver Crown 6 property. Drilling intersected highly chloritic andesites that were weakly silicified and brecciated with a strong quartz-pyrite stockwork that formed 10 % of the core. Massive red hematite veins with pyrite are also present. Fine cube pyrite is throughout the core forming 5 % of the rock overall. Minor, local chalcopyrite was also noted within some of the quartz-pyrite stockwork. The best drill results were obtained from DDH-2012-Mon-72 which returned several intervals including 3.05 m of 15.61 g/t gold and 3.05 m of 2.63 g/t gold.
In addition, silicified andesitic float rocks with galena, sphalerite and chalcopyrite located on the drill trail uphill from the Montrose zone indicates the presence of other mineralized structures
