Recent drilling by Prime Explorations below the 21B and 21A zones on the Eskay Creek project north of Stewart, B.C., has encountered a new and discrete mineral zone that lies well beyond existing reserves. Eskay Creek is owned equally by Prime Resources Group (VSE) and Stikine Resources (TSE), companies that recently announced plans to merge into a new entity to be held 44.6% by Corona (TSE).
The new 21C zone discovery is centred on Section 3+00N, subparallel to and about 100 metres downdip of the 21B deposit which contains the bulk of current reserves. Based on recent calculations by Roscoe Postle & Associates, the 21B and 21A zones contain probable and possible reserves totalling 1.55 million tons averaging 1.34 oz. gold and 36.21 oz. silver, plus base metal values.
The discovery of the new zone of precious metals mineralization — which so far has been traced over a minimum strike length of about 600 metres and remains open downdip — has important implications for two Prime group companies that hold claims adjacent to the Eskay Creek project.
Both Adrian Resources (VSE) and Eurus Resource (VSE) were informed by Prime that the new 21C zone is projected to pass through the TOK claim gap which covers a 40-metre wide staking gap between the TOK 3/TOK 4 and TOK 1/TOK 2 claims at Eskay Creek. (Prime currently holds about a 20% interest in Adrian, and a 13% interest in Eurus.)
Ownership of the strategic TOK claim gap is currently split between the Gamma claim of Eurus’ Albino Lake property to the west, and the IKS 1 claim of Adrian’s SKI project to the east. (Eurus is the new company formed by the recent merger of Tamavack, Calvada and Consolidated Powergem.)
Although ownership of the claims making up Adrian’s SKI project is still disputed, Adrian currently has title to the IKS 1 claim which covers the portion of the gap containing a small part of the 21B zone deposit. As a result of this, Adrian holds reserves totalling 65,000 tons averaging 0.92 oz. gold, 57.4 oz. silver, 1.1% lead and 2.2% zinc at a cutoff grade of 0.25 oz. gold per ton.
On the other hand, the 21C zone mineralization is projected to pass through the TOK claim gap within the GAMMA claim on Eurus’ Albino Lake project.
There is a section 35 complaint against the GAMMA claim by Ken McKenzie, who incidentally has title to the IKS 3 claim on Adrian’s SKI project. McKenzie is also challenging title to at least three-quarters of the claims making up Eurus’ Albino Lake project.
Should McKenzie’s section 35 complaint against the GAMMA claim be struck down, Eurus would retain its present share of the TOK claim gap.
But should the GAMMA claim be cancelled, Adrian said it would control the entirety of the TOK claim gap containing both the existing reserve and the projection of the 21C zone, presumably by virtue of having restaked the ground before McKenzie.
It is expected that a number of these claim disputes will be resolved this summer when the gold commissioner or his agents can make visual inspections through site visits.
Selected results from recent drilling on the 21C zone at the Eskay Creek property include: 36.1 ft. of 0.16 oz. gold and 1.83 oz. silver; 45.9 ft. of 0.27 oz. gold and 0.25 oz. silver; 32.8 ft. of 0.40 oz. gold and 2.42 oz. silver, and 65.6 ft. of 0.43 oz. gold and 31.05 oz. silver.
Previously reported results from the new zone include: 65.6 ft. of 0.58 oz. gold and 1.48 oz. silver; 45.9 ft. of 0.33 oz. gold and 1.11 oz. silver; and 23.0 ft. of 0.89 oz. gold and 2.83 oz. silver per ton.
Prime also reported some spectacular results from recent stepout drilling on the property, which means drilling outside of existing reserves.
These include 29.5 ft. grading an impressive 1.9 oz. gold, 45.04 oz. silver, 8.32% lead, 17.55% zinc, and 2.06% copper from hole 90-497, including a 9.8-ft. interval of 5.09 oz. gold, 120.0 oz. silver, 14.47% lead, 29.97% zinc and 4.16% copper.
Other results varied but some of the better assays are: 26.3 ft. of 0.46 oz. gold and 0.49 oz. silver; 49.2 ft. of 0.29 oz. gold and 8.82 oz. silver; and 72.2 ft. of 0.25 oz. gold and 0.52 oz. silver.
Some impressive results were also reported from infill drilling on the property, including: 23 ft. of 0.92 oz. gold and 75.64 oz. silver; 29.5 ft. of 0.48 oz. gold and 19.79 oz. silver; 45.9 ft. of 0.35 oz. gold and 24.51 oz. silver; and 72.2 ft. of 0.36 oz. gold and 9.73 oz. silver.
Six drill rigs are still at work at Eskay Creek, with two of the rigs testing the 21C zone.
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