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The Electrum Property is located approximately 40 km north of the town of Stewart, British Columbia, and lies in the prolific mining region referred to as the "Golden Triangle". The Electrum property has a haul road access leading directly from the property to a shipping terminal in Stewart, power nearby and a supportive mining town. The property consists of eight claim units covering an area of 6.5 km2, and hosts the historic East Gold Mine which was discovered in 1926. The East Gold Mine had intermittent small-scale production between 1939 and 1965; producing approximately 46 tons of hand-picked ore with returning grades of 1,661 g/t (48.5 oz/t) gold and 2,596 g/t (75.7 oz/t) silver. American Creek Resources Ltd. owns 100% interest in the property.

Property Geology

The Electrum property lies in the heart of the Early Jurassic Stewart-Unuk-Iskut metallogenic belt, which hosts a number of Au-Ag + Cu veins and porphyry deposits associated with Jurassic intrusions. The Electrum property is underlain by the Middle Andesite and the Upper Siltstone members of the Unuk River Formation. A feldspar-hornblende granodiorite porphyry intrudes the Middle Andesite and underlies part of the property. There is a general increase in strength of alteration from weak sericite + pyrite in the southeast to strong silicification ± sericite + pyrite toward the central and western portions of the property. Outcrop exposures on top of the ridges contain significant quartz veining, both narrow stockwork and larger, single continuous veins, in a low-sulphidation gold-silver epithermal mineralized system characterized by:

  • Pervasive phyllic alteration of the host, mainly quartz-sericite-pyrite overprinting siltstones and andesitic tuffs and flows.
  • Epithermal breccia-veins (quartz- carbonate veins carrying sulphide and precious metals mineralization).
  • Gossan developments.

The East Gold mine has been classified as an epithermal deposit hosting these vein types, but the system is still open in all directions, as it is developed widespread within the property, as intense sericite-carbonate-quartz-pyrite alteration and high grade gold-silver epithermal breccia-veins are conspicuous in almost the totality of the area covered within the claims.

Mineralization on the Electrum property is controlled by two major fault lines that locally produces bonanza type gold grades along with broader stockworked zones within a complex geological model. Like the nearby Brucejack deposit, gold and silver mineralization occurs as coarse electrum in several generations of quartz-carbonate veins and vein breccias hosted within a deformed island arc-related sequence. The intermediate to low sulphidation mineralization is present in most of the veins with pyrite, sphalerite, galena and chalcopyrite. Precious metal mineralization is found in surface with lengths near several tens of meters to over a hundred meters, pinching and swelling along strike. Drilling has encountered gold-silver mineralization at depths greater than 200 metres from surface.