Tuesday 18th June 2019

Resource Clips


Posts tagged ‘b.c.’

92 Resources increases its Quebec lithium-polymetallic potential with expanded acquisition

April 24th, 2019

by Greg Klein | April 24, 2019

An amended option with “no additional share, cash or work commitment” brings more land and greater prospects in northern Quebec’s James Bay region to 92 Resources TSXV:NTY. A 4,253-hectare increase to a previous 75% earn-in with Osisko Mining TSX:OSK now covers that company’s entire FCI property. Combined with 92’s adjacent and wholly owned Corvette project, the Corvette-FCI property now comprises three contiguous claim blocks in a 14,496-hectare parcel that stretches for over 25 kilometres along the Lac Guyer greenstone belt.

92 Resources increases its Quebec lithium-polymetallic potential with expanded acquisition

Past work at the newly acquired FCI West found 16 showings of base and precious metals along two parallel trends extending over 10 kilometres in length. Historic, non-43-101 assays from FCI West’s Golden Gap prospect included outcrop samples as high as 108.9 g/t gold, a 2003 drill interval of 10.5 g/t gold over seven metres and a channel sample of 14.5 g/t gold over two metres.

FCI West’s Tyrone-T9 prospect includes an historic, non-43-101 channel sample of 1.15% copper over 2.1 metres. Despite high-grade lithium showings at Corvette, FCI West has never been evaluated for the energy metal, the company stated.

Immediately south and west of 92’s new turf sits Azimut Exploration’s (TSXV:AZM) Pikwa property. Adjacently north of FCI West, Midland Exploration’s (TSXV:MD) 2018 field program on the Mythril project found outcrop and boulder samples grading 16.7% copper, 16.8 g/t gold and 3.04% molybdenum. 92 anticipates significant activity by multiple companies along the Lac Guyer greenstone belt this year “as the magnitude of the Mythril-style copper-gold mineralization unfolds.”

Regional infrastructure includes a powerline and the all-season Trans-Taiga Road 10 kilometres north of Corvette-FCI.

This year’s exploration program will follow evaluation of historic data, with work expected to wrap up in summer.

The amended option with Osisko would give 92 the additional claims by satisfying terms of the 75% earn-in on FCI East. That deal calls for an initial million shares, another million shares and $250,000 of work in year one, another $800,000 in year two and a further $1.2 million in year three, while Osisko acts as project operator. At that point the companies would form a 50/50 JV. Another $2 million in expenditures from 92 would raise the company’s stake to 75%. With FCI West now incorporated into that agreement, “no additional share, cash or work commitment is required by the company,” 92 emphasized.

The company retains a 100% interest in Corvette’s 172 claims.

92’s Quebec portfolio also includes the Pontax, Eastman and Lac du Beryl properties. Lithium-tantalum grab samples from Pontax have reached up to 0.94% Li2O and 520 ppm Ta2O5.

In British Columbia 92 holds the Silver Sands vanadium prospect and the Golden frac sand project. In the Northwest Territories, Far Resources CSE:FAT works towards a 90% earn-in on 92’s Hidden Lake lithium project.

92 closed a private placement of $618,000 last December.

Read more about 92 Resources here and here.

Canadian Greens surge again as party takes second place in PEI election

April 23rd, 2019

by Greg Klein | April 23, 2019

Press time results (seats at dissolution in parentheses)

  • Progressive Conservatives: 12 seats, 36.5% of the popular vote (8)
  • Greens: 8 seats, 30.6% (2)
  • Liberals: 6 seats, 29.5% (16)
  • New Democrats: 0 seats, 3% (0)
  • Independent: 0 seats, 0.4% (1)
  • (Voting in one district was postponed)

Promoting its use of wind energy, Prince Edward Island likes to call itself “Canada’s Green Province.” On April 23 PEI’s government just missed turning Green itself.

In an historic first for Canada, the home of Confederation voted Greens into second place, following a few years of electoral gains for the once-marginal party in other parts of the country. At press time the popular vote showed Dennis King’s Progressive Conservatives just 6% higher than Peter Bevan-Baker’s Green Party, which came in barely ahead of the incumbent Liberals whose leader Wade MacLauchlan lost his district to a Tory. But the seat count gave PCs 12, Greens eight and Liberals six. That raises the question of who will rule the province, and how. Among the possibilities is a Green-supported minority government, as is the case in British Columbia.

Canadian Greens surge again as party takes second place in PEI election

PCs won more seats but Greens flourished in the
land of Green Gables. (Photo: PEI government)

Voting in one of the province’s 27 districts was postponed following the death of Green candidate Josh Underhay and his six-year-old son in a Good Friday canoeing accident.

The Liberals collapsed after three terms in office despite budget surpluses and avowals that PEI had built Canada’s strongest economy. Still the country’s biggest potato producer, the province’s other main resource industry is fishing. Economic diversification includes an aerospace industry that accounts for 20% of provincial exports and a bioscience sector employing over 1,000 people.

With 27 electoral districts for a population estimated at 154,748, most winning candidates draw well under 1,500 votes. At 5,660 square kilometres, the province holds just over one-sixth the landmass of Vancouver Island.

But the Greens’ performance suggests continuing growth in some parts of Canada. Last October the party took three places each on Vancouver’s council, parks board and school board, along with one each on neighbouring Burnaby’s council and school board. In B.C.’s 2017 provincial election, Greens rose from one MLA to three, a feat matched by New Brunswick Greens last September. Ontario elected its first Green MPP in June.

Southern Vancouver Island hosts Canada’s sole Green MP, as well as the three MLAs who hold the balance of power supporting B.C.’s minority NDP government.

The environmentalist-nationalist Québec Solidaire went from three to 10 seats in October’s Quebec election.

Not surprisingly, however, Greens fared poorly in last week’s Alberta election, where the party polled only 0.4%. Should PEI PCs hold onto government, they’ll join Alberta along with Saskatchewan, Manitoba, Ontario and New Brunswick in a bloc of provincial conservative governments.

A referendum asking whether PEI should switch to a mixed-member proportional voting system passed in 15 of 27 districts but failed to reach the 17-district threshold.

Resource Works executive director Stewart Muir comments on B.C.’s growing awareness of the importance of its traditional industries

April 18th, 2019

…Read more

Alberta fights back

April 16th, 2019

New government promises bold measures to defend a resource-based economy

by Greg Klein

Updated results (seats at dissolution shown in parentheses)

  • United Conservative Party: 63 seats, 55.2% of the popular vote (25 seats)
  • New Democratic Party: 24 seats, 32.2% (52 seats)
  • Alberta Party: 0 seats, 9.2% (3)
  • Liberal Party: 0 seats, 1% (1)
  • Independent candidates: 0 seats, 0.5% (3)
  • Freedom Conservative Party: 0 seats, 0.5% (1)
  • Progressive Conservative Party: 0 seats, 0% (1)
  • (One vacant seat at dissolution)

 

The outcome wasn’t as surprising as last time, when the once-marginal New Democratic Party swept to power in what had long been a moderately conservative one-party province. Yet this was probably Alberta’s most dramatic election since 1935, when a victorious upstart tied to the economic movement known as Social Credit grabbed international attention. Rarely has Western alienation played out so strongly as in this campaign, provoked by Ottawa’s stance on, among other issues, the ongoing war against Canadian resource industries. Foreign interference in the form of U.S. money also came to light, while aspects of the culture wars helped inflame passions.

The new government promises bold measures to defend a resource-based economy

Back in the ’30s, however, William Aberhart’s Social Credit failed to enact the radical reforms intended to deal with the Great Depression. The results of incoming premier Jason Kenney’s bold talk remain to be seen, despite the overwhelming victory of his United Conservative Party. Kenney’s biggest challenge will be to overcome the opposition to pipelines and tankers that deprives Albertan oil producers of Asian markets and consequently much higher prices.

Certainly Kenney won a decisive mandate. Barely half an hour after polls closed, media projections called a UCP majority. The party comprises a 2017 merger of the Progressive Conservatives and Wildrose Party, which together polled 52% in 2015, compared with only 40.6% for the NDP. But that year the New Democrats took 54 of 87 seats.

Much of Kenney’s success came from his portrayal of “the Trudeau-Notley alliance,” in which he blamed the prime minister and incumbent premier for wrecking Alberta’s economy through a combination of appeasement, indifference and outright animosity. Notley, at best an ineffectual supporter of Alberta oil and at worst an ideological enemy, made an easy target. So did Justin Trudeau, struggling with an image tarnished by SNC-Lavalin, that scandal’s revelation of favouritism towards Quebec jobs, and policies towards Alberta jobs that evoked memories of his father’s National Energy Program, often blamed for wrecking Alberta’s economy during the 1980s.

The new government promises bold measures to defend a resource-based economy

Kenney found easy targets in the “Trudeau-Notley alliance”
but victory might give him tougher battles to fight.
(Image: United Conservative Party)

Allusions to the NEP surfaced in Kenney’s description of Bill C-69, “the Liberals’ ‘No More Pipelines’ Law” and “a federal sucker punch to an already-reeling Alberta economy.” Kenney promised a constitutional challenge.

He portrayed Notley’s opposition to Ottawa’s Bill C-48, banning oil tankers from northern B.C. ports, as an insincere and tardy effort.

Kenney committed to ditch Notley’s carbon tax and sue Ottawa if it tries to impose the federal carbon tax on Alberta, as Trudeau’s government has done to provinces that didn’t enact their own carbon taxes.

Addressing an especially sore point for Albertans, Kenney promised a referendum on equalization. Consistently punishing Alberta through good economic times and bad, the inter-provincial transfers of money consistently benefit Quebec through bad times and good.

Turning his confrontational stance westwards, Kenney vowed to take on Trans Mountain pipeline foe British Columbia “on day one” by proclaiming Alberta’s Turn off the Taps legislation. Also known as Bill 12, it would stop Alberta oil shipments to an Alberta oil-dependent province that opposes exports of Alberta oil to Asia. B.C., on the other hand, stands ready to defend its convenient ethics in court.

Kenney also vowed action on foreign funding in Canadian campaigns. The issue gained prominence just days before the vote, with an April 12 Financial Post article by researcher Vivian Krause. American money, she stated, was helping finance efforts to defeat UCP candidates, part of a much wider, ongoing U.S.-funded campaign to “landlock” Albertan oil and gas, as well as destroy other Canadian resource industries.

From the very beginning, the campaign strategy was to land-lock the tar sands so their crude could not reach the international market where it could fetch a high price per barrel.—Tar Sands Campaign
director Michael Marx,
as quoted by Vivian Krause

According to documents she’s made public, foreign money moved from activism and court challenges to specifically anti-UCP efforts that benefit the NDP.

A group called Progress Alberta was working against UCP candidates, while another group called Leadnow urged its supporters to join Progress Alberta’s anti-UCP efforts, she stated. Referring to U.S. tax returns, Krause reported that “both Leadnow and Progress Alberta are partially funded—US$62,843 (2016-2017) and US$162,587 (2013-2016) respectively—by the Tar Sands Campaign.” The Tar Sands Campaign gets its money from the Rockefeller Brothers Fund, she added.

Krause quoted Tar Sands Campaign director Michael Marx as stating: “From the very beginning, the campaign strategy was to land-lock the tar sands so their crude could not reach the international market where it could fetch a high price per barrel.”

Krause charged that Notley knew about the foreign-funded activity but refused to act.

Kenney was quick to follow up. “We now know that for months Rachel Notley has been sitting on a legal opinion indicating that the government of Alberta could take action against groups behind the Tar Sands Campaign,” he declared. “Some have estimated that Alberta is losing up to $16 billion a year in value from the price discount that results from our oil producers being captive to the U.S. market. This is a direct result of the campaign to landlock Canadian energy supported by the Tar Sands Campaign, which in the last year has succeeded in delaying the Trans Mountain Expansion, Keystone XL and the Line 3 replacement project.”

Some have estimated that Alberta is losing up to $16 billion a year in value from the price discount that results from our oil producers being captive to the U.S. market. This is a direct result of the campaign to landlock Canadian energy supported by the Tar Sands Campaign.—Jason Kenney

Kenney pledged to challenge the charitable status of foreign-funded groups, cut off their provincial funding, hold a public inquiry into foreign funding that attacks Albertan energy, ban foreign entities from financing political action committees and urge Ottawa to pass Bill S-239, which would ban foreign money from federal politics.

Krause has previously stated that Rockefeller money helped fund Leadnow’s anti-Conservative campaign in the 2015 federal election.

Now that a provincial government intends to act on her findings, something that started as a Quixotic one-woman campaign could have enormous impact. According to her figures, U.S. interests like the Rockefellers have paid Canadian activists well over half a billion dollars so far.

Of course the extent to which Kenney’s tough talk produces results remains to be seen. Still Notley had nothing to show for any claim of supporting Alberta resources. Kenney found it easy to associate her with the prime minister, the UCP’s continual target. The anti-pipeline Bill C-69 “is just one of the terrible consequences of the Trudeau-Notley alliance,” Kenney argued. “Alberta’s NDP gave Justin Trudeau licence to kill Northern Gateway, to surrender to a U.S. veto of Keystone XL, to change regulations that led to the death of Energy East and to fold in the face of the B.C. New Democrats’ obstruction of the Trans Mountain expansion. On top of that we’ve got Trudeau’s tanker ban, Bill C-48 and a cap on our oilsands.”

Krause pointed out that heavy-handed enviro-activism persisted despite Notley’s attempts at appeasement. The NDP increased the carbon tax, capped allowable emissions and created the world’s largest boreal forest preserve. “Surely the campaign against Alberta would finally be over,” Krause wrote. “But, again, no.”

The UCP victory adds considerable weight to moderate conservative provinces, now stretching from Alberta to Ontario and including New Brunswick. Along with the federal Conservatives, they could present troublesome interference to the federal Liberals’ re-election efforts in October. In fact as a six-term MP who served a number of cabinet positions in Stephen Harper’s Conservative government, Kenney could overshadow federal Conservative leader Andrew Scheer.

On the other hand, a strong conservative bloc might discourage the Liberals from almost any interest in economic issues, thereby freeing them to campaign exclusively on their Trudeauvian zeitgeist.

Pamela McDonald of the B.C. Securities Commission points out some common signs of investment fraud

April 15th, 2019

…Read more

B.C. government funds long-awaited preservation of historic Morden Mine

April 12th, 2019

by Greg Klein | April 12, 2019

Although just half of a previously estimated requirement, a nevertheless significant funding commitment could go a long way towards saving an important monument to British Columbia’s mining history. On April 11, the provincial government pledged $1.4 million to the former Morden coal mine south of Nanaimo on Vancouver Island. The money could come just in time to prevent a headframe and its distinctive tipple from toppling over.

B.C. government funds long-awaited preservation of historic Morden Mine

Morden’s 22.5-metre headframe and distinctive
tipple loom out of the forest south of Nanaimo.
(Photo: Greg Klein)

“The mine is very close to being destroyed,” emphasized Sandra Larocque, president of the volunteer group Friends of Morden Mine. “Most of the posts are not holding it up and we need to stabilize it immediately or it will fall down.”

The funding announcement brought her to tears, she said. “My father and grandfather were both coal miners and I really appreciate them when I look at the mine. We need to preserve this very important part of our history.”

Overshadowed by the later gold rushes, B.C.’s first successful mining operations began in Nanaimo in 1852. They continued for about a hundred years before the last of several underground coal mines played out. Most of the surface structures and all of the narrow gauge railways have since disappeared, leaving a Hudson’s Bay Company bastion (a type of structure normally associated with the fur trade, but here a remnant of HBC mining) and Morden as reminders of the region’s mining heritage.

Operated by the Pacific Coal Company between 1913 and 1921, Morden’s most prominent features consist of a 22.5-metre concrete reinforced headframe and a coal tipping structure that’s one of just two of its kind left in North America.

The $1.4 million follows a $25,000 provincial grant provided in 2017. In 2015, however, then-FOMM co-president Eric Ricker told ResourceClips.com that the group, along with the Regional District and the city of Nanaimo, had commissioned an engineering study that estimated $2.8 million was necessary to save the site.

As owner of the four-hectare Morden Colliery Historic Provincial Park, BC Parks says it has spent the last three years working with the forestry ministry and FOMM to assess the mine shaft, remove unsecured timbers from the headframe and conduct an engineering analysis.

Crews will stabilize the structure over the next two months, then spend over a year on repairs. The park will close during that time.

The site’s neglect might have been a casualty of partisan politics. Although the BC Liberals held office from 2001 to 2017, Nanaimo has elected New Democratic Party MLAs since 2005.

Read more about the Morden Mine.

Read more about B.C. mining history.

 

B.C. government funds long-awaited preservation of historic Morden Mine

A mural depicts the former coal mine on Protection Island in Nanaimo harbour.
A 1918 cage accident killed 16 men here, one of many Nanaimo-region
mining disasters that included an 1887 explosion that killed 153 people.

Deep thoughts from B.C.’s energy and mines minister

April 12th, 2019

by Greg Klein | April 12, 2019

Proving they could sink lower than anyone else, Russians spent 24 years drilling their world-record 12,261-metre Kola Superdeep Bore Hole. But northeastern British Columbia’s oil patch seems to have reached something like 25 times as far. And in doing so, they must be employing super-durable materials impervious to intense heat and pressure but unknown to the outside world.

Deep thoughts from B.C.’s energy and mines minister

A reference work for B.C. cabinet ministers?

Or so you might think on reading a comment by B.C.’s minister of energy, mines and petroleum resources, Michelle Mungall.

Discussing the natural gas industry, she told Black Press legislative correspondent Tom Fletcher, “In B.C. we’re drilling about 300 kilometres below the surface.” That would mean reaching about 5% of the distance to the planet’s hot, liquid inner core and well within temperatures that would melt any metal known to mankind.

“Wildly inaccurate,” Fletcher responded. “In fact, the gas and petroleum liquids-rich Montney shale formation that runs under Fort St. John, Dawson Creek and into Alberta is from two to four kilometres deep, similar to the Marcellus shale in the U.S.”

But if Mungall knows something that isn’t common knowledge, numerous possibilities arise, and not just in mining and geothermal energy. If drilling’s possible at such fathomless depths, why not tunneling and why not continue right through the globe to the Southern Hemisphere? That might open up trade links to compete with China’s Belt and Road Initiative.

Meanwhile borehole champion Russia, always vain about its accomplishments and now along with China officially considered a security threat to Canada, no doubt will be watching closely for any credible signs of one-upmanship in a downwards direction.

Ximen Mining to do due diligence on B.C.’s first underground gold mine

April 8th, 2019

by Greg Klein | April 8, 2019

Ximen Mining to do due diligence on B.C.’s first underground gold mine

Connected to power and paved road, the Kenville property has mining
equipment, offices, mechanic shop, core storage and accommodation on site.

 

Just days after picking up additional land in one historic southern British Columbia camp, Ximen Mining TSXV:XIM turned its attention to another former mine. A new option agreement would give the company a stake in another company whose chief asset is another option—to acquire the site of B.C.’s first underground lode gold operation.

Located eight kilometres west of the city of Nelson in southeastern B.C.’s Kootenay region, the Kenville gold mine operated intermittently between 1889 and 1954, extracting 181,395 tonnes containing 2,029 kilograms of gold, 861 kilograms of silver, 23.5 tonnes of lead, 15 tonnes of zinc, 1.6 tonnes of copper and 37 kilograms of cadmium, Ximen stated.

Ximen Mining to do due diligence on B.C.’s first underground gold mine

An historic, non-43-101 estimate gives Kenville’s
257 level 16,289 gold ounces measured and indicated.

Some 13,000 metres of drilling between 2007 and 2008 targeted previously untested areas southwest of the former mine, the company added. Detailed sampling also took place on the 257 level, which alone of the mine’s seven levels remains accessible. In 2009 an historic, non-43-101 resource for the 257 level used a 1.1 g/t cutoff to estimate:

  • measured: 3,312 tonnes averaging 31.72 g/t gold for 3,377 gold ounces

  • indicated: 21,312 tonnes averaging 18.84 g/t for 12,912 ounces

  • inferred: 522,321 tonnes averaging 23.01 g/t for 356,949 ounces

Further drilling took place between 2009 and 2012, finding at least four new veins with potential strike lengths of over 700 metres, according to historic, non-43-101 reports.

Historic accounts of soil surveys and drilling suggest potential for porphyry-type copper-molybdenum-silver-gold mineralization elsewhere on the property, Ximen stated.

Pending due diligence and TSXV approval, the acquisition would take place by optioning an interest in a company that holds an option to acquire Kenville. According to the terms, Ximen would option a promissory note to the vendor amounting to $780,000 plus interest, another promissory note to the vendor amounting to $1 million plus interest convertible into shares of 0995237 B.C. Ltd, mining equipment located in Alberta, and 5,333,334 shares in 0995237 B.C. Ltd.

“The principal asset of 0995237 is its option to acquire the Kenville gold mine,” Ximen stated.

The combined assets would cost Ximen 1,408,333 shares at a deemed price of $0.80, $1.38 million payable in installments and settling of the vendor’s $270,000 debt to arm’s length third parties.

Last week Ximen announced its acquisition of over 12,900 hectares in B.C.’s historic Greenwood camp. The new turf surrounds the company’s Gold Drop project, now optioned to GGX Gold TSXV:GGX. Last year’s Gold Drop drill program found near-surface, high-grade intervals of gold and silver, along with tellurium.

Ximen’s southern B.C. portfolio also includes the Treasure Mountain property under option to New Destiny Mining TSXV:NED and the Okanagan-region Brett gold project.

Ximen closed private placements of $540,000 in December and $250,000 in February. In March the company arranged a private placement of $405,000 subject to TSXV approval.

Read more about Ximen Mining here and here.

Ximen Mining expands its presence in British Columbia’s Greenwood camp

April 5th, 2019

by Greg Klein | April 5, 2019

A former mining region about 500 highway kilometres east of Vancouver continues to attract interest as another company picks up additional property. Through a combination of purchase and staking, Ximen Mining TSXV:XIM acquired over 12,900 hectares surrounding its Gold Drop project, now optioned to GGX Gold TSXV:GGX.

Last year’s drilling at Gold Drop returned near-surface, high-grade intervals of gold and silver along with tellurium, classified by the U.S. government as a critical mineral. Some highlight assays include:

Ximen Mining expands its presence in British Columbia’s Greenwood camp

A quartz sample from Ximen’s recent site
visit brought 2.87 g/t gold and 127 g/t silver.

Hole COD18-67

  • 129.1 g/t gold, 1,154.9 g/t silver and 823.4 g/t tellurium over 7.28 metres, starting at 23.19 metres in downhole depth

COD18-70

  • 107.5 g/t gold, 880 g/t silver and 640.5 g/t tellurium over 6.9 metres, starting at 22.57 metres

True widths were unavailable. The operator has spring drilling scheduled to begin this month.

Ximen’s new Providence claim also borders Grizzly Discoveries’ (TSXV:GZD) Greenwood project, where Kinross Gold TSX:K subsidiary KG Exploration works towards a 75% earn-in. Other companies active in the Greenwood area include Quebec niobium-tantalum explorer Saville Resources TSXV:SRE, which this week announced sampling found high-grade gold and copper along with silver on its Bud project. Last week Nevada lithium explorer Belmont Resources TSXV:BEA announced its acquisition of the Greenwood-area Pathfinder project. Golden Dawn Minerals TSXV:GOM has been working a number of properties in the area, home to numerous former mines.

Ximen Mining expands its presence in British Columbia’s Greenwood camp

An historic pit yielded this sample
of copper-rich massive sulphide.

Among those within or bordering Ximen’s acquisition is the Providence mine, which produced 10,426 tonnes containing 183 kilograms of gold, 42,552 kilograms of silver, 183 tonnes of lead and 118 tonnes of zinc during intermittent operation between 1893 and 1973, according to historic reports. The historic Combination deposit gave up 11 tonnes for 60,340 grams of silver and 653 grams of gold. Ximen’s new claims cover 11 known mineral occurrences, the company stated.

Recent sampling returned 2.87 g/t gold and 127 g/t silver from a mine dump northeast of the former Providence operation. Another sample showed 2,350 ppm copper from one of the property’s undocumented exploration pits that show exposed massive sulphides containing chalcopyrite, bornite and magnetite.

In southern B.C.’s Okanagan region, Ximen also holds the Brett gold project. In November the company announced that metallurgical tests on material stockpiled in the 1990s during early-stage mine development support an historic account of 4 g/t to 5 g/t gold.

About three and a half hours’ driving distance from Vancouver, Ximen has its Treasure Mountain property under option to New Destiny Mining TSXV:NED. Grab samples collected last year included 11.3 g/t and 8.81 g/t gold, as well as samples showing up to 1.45% zinc, 122 g/t silver, 0.87 g/t gold, 57 g/t tellurium and 12.3 g/t indium.

Ximen closed private placements of $540,000 in December and $250,000 in February. Last month the company arranged a private placement of $405,000 subject to TSXV approval.

Read more about Ximen Mining.

Saville Resources samples 4.57 g/t gold and 6.7% copper at southern B.C.’s Greenwood camp

April 3rd, 2019

by Greg Klein | April 3, 2019

High gold-copper grades from a 2018 field program indicate another encouraging project in the portfolio of a company now drilling for niobium-tantalum in Quebec. Saville Resources TSXV:SRE released 20 sample assays from its Bud property, located in an historic southern British Columbia mining camp that has attracted considerable exploration activity.

Six highlights show elevated gold grades coinciding with elevated copper:

Saville Resources samples 4.57 g/t gold and 6.7% copper at southern B.C.’s Greenwood camp

Mining at the Bud property’s Morrison showing from
the late 1890s to 1903 produced 2,918 tons containing
230 ounces of gold, 837 ounces of silver and 23,629 pounds
of copper, according to historic reports.

  • 4.57 g/t gold, 27.7 g/t silver and 6.7% copper

  • 4.44 g/t gold, 17 g/t silver and 6.84% copper

  • 3.54 g/t gold, 76.4 g/t silver and 2.41% copper

  • 1.96 g/t gold, 12.3 g/t silver and 1.2% copper

  • 1.74 g/t gold, 19.3 g/t silver and 1.65% copper

  • 1.23 g/t gold, 66.3 g/t silver and 7.14% copper

The program shows renewed interest in the 381-hectare property following a hiatus. Excavator trenching in 2003 revealed 1.9 g/t gold, 19.5 g/t silver and 1.5% copper over 1.3 metres. One sample averaged 7.8 g/t gold, 9.3 g/t silver and 2,156 ppm copper, while another graded 51.6 g/t gold, 403 g/t silver and 4.16% copper.

A three-hole, 538-metre drill program in 2005 identified a large hydrothermal system with prospective structure and stratigraphy, the company stated. A few selected intervals showed:

  • 3.82 g/t gold, 5.5 g/t silver and 656 ppm copper over 1.15 metres
  • (including 14.3 g/t gold, 22.6 g/t silver and 2,653 ppm copper over 0.15 metres)

  • 3.97 g/t gold, 23.8 g/t silver and 2.03% copper over 0.5 metres

True widths weren’t provided.

The 380-hectare property sits about four kilometres northwest of the town of Greenwood, roughly 500 kilometres by highway east of Vancouver. The surrounding Boundary district includes the former camps of Republic, Belcher, Rossland and Greenwood, which historically produced over 7.5 million ounces of gold, Saville noted. A resurgence of activity has included the Gold Drop property two kilometres southwest of Bud, where last month Ximen Mining TSXV:XIM and GGX Gold TSXV:GGX reported near-surface intervals of tellurium in addition to gold and silver.

Other Greenwood-area explorers include Kinross Gold TSX:K subsidiary KG Exploration, working towards a 75% earn-in on Grizzly Discoveries’ (TSXV:GZD) Greenwood project, Golden Dawn Minerals TSXV:GOM, and Belmont Resources TSXV:BEA, which last week announced acquisition of the Pathfinder property.

In Quebec’s James Bay region, meanwhile, a crew prepares to drill Saville’s flagship Niobium Claim Group, where the agenda calls for at least four holes and 700 metres in an area with encouraging historic assays. More recent boulder samples on the property have provided niobium grades as high as 2.75%, 4.24%, 4.3% and an outstanding 5.93% Nb2O5.

Read more about Saville Resources.