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Mining News: Step-out drilling expands Golden Saddle Underworld Resources continues to explore prospects at White Gold Project; other juniors scramble to line up their own programs Rose Ragsdale For Mining News
The hunt for gold launched by Underworld Resources Inc. more than a year ago in Yukon Territory’s Dawson Mining District is yielding more encouraging results for the junior at its White Gold Project.
Meanwhile, other mining companies, including Anglo Canadian Uranium Corp., Aldrin Resource Corp., Radius Gold Inc. and Habanero Resources Inc., are rushing to get in on the action, staking more than 6,000 new placer and quartz claims in the Dawson area since April 1.
Underworld reported discovery of more than 100 meters of significant gold mineralization May 27 from the first three drill holes of its 2009 exploration program. Now, the junior is reporting even more exploration success.
Underworld said it had completed 22,000 meters of drilling in 84 holes by Sept. 10, and the latest assay results from core samples taken show hole WD09-64, a step-out penetration to the northeast of the initial discovery, averaged 3.13 grams per metric ton gold over 100.4 meters. Other results include hole WD09-69, which averaged 3.40 g/t gold over 76.90 meters, and hole WD09-70, with 3.51 g/t gold over 50.03 meters.
Vancouver, B.C.-based Underworld said results to-date continued to demonstrate excellent continuity of near-surface gold mineralization in the Golden Saddle zone. The deposit remains open to expansion to the east and north.
More claims staked Underworld also reported Sept. 14 that it has significantly expanded its land position in the White Gold District through acquisition and additional staking. The majority of this new ground is contiguous with the original claim group hosting the Golden Saddle and Arc gold discoveries.
The majority of the new claims were staked by Underworld following the recent gold discovery on the Golden Saddle Deposit, located 90 kilometers south of Dawson, the location of the famous Klondike Gold Rush.
Underworld now holds title to or has title pending on 2,907 quartz mining claims for an aggregate area of 589 square kilometers, or 227.4 miles, doubling the size of its land package.
Gold find expands Drill hole WD09-64 also includes a 19.5-meter interval averaging 6.70 g/t gold. This is the northeastern-most hole for which assays have been received to date. The intercept in WD09-64 is 75 meters down-dip from WD09-56, which intersected 55.9 meters averaging 1.50 g/t gold, and 110 meters down-dip from WD09-47, which intersected 31.1 meters averaging 9.2 g/t gold. Four additional drill holes on roughly 50-meter centers have been completed down-dip from WD09-64. Assays are pending for 23 more holes completed along strike and down-dip.
WD09-069, which intersected 76.9 meters averaging 3.40 g/t gold, included 41.0 meters averaging 5.44 g/t gold, and WD09-70, which intersected 50.5 meters averaging 3.51 g/t gold, included 37 meters averaging 4.04 g/t gold. Both are infill holes. Infill and step-out drilling is being completed on 50-meter intercept centers along strike and down dip.
The objective of the current drilling at Golden Saddle is to continue to expand mineralization along strike and down-dip, and to complete a NI 43-101-compliant resource estimate.
Underworld is targeting near-surface mineralization potentially amenable to open-pit mining.
The junior said it is also currently drilling regional targets at the South Donahue and McKinnon showings, located 4 and 6 kilometers southeast of Golden Saddle, respectively. Three drill rigs are currently turning on the project, and Underworld expect to complete 25,000 meters of core drilling in about 115 drill holes during the 2009 program.
Armenius data reviewed Meanwhile, Anglo Canadian Uranium Corp. Sept. 10 reported that preliminary exploration efforts on the Armenius Property in the White River-Dawson District have identified potential for precious metal (gold and silver) mineralization.
The Vancouver, B.C.-based junior said it has compiled all geological-geochemical data and mining assessment reports from Yukon Energy Mines and Resources and from private reports and also completed a preliminary reconnaissance program that resulted in the identification of a number of key targets requiring additional exploration.
“The property is immediately adjacent to a placer operation in Eureka Creek that has been profitably mined for more than a decade,” said Anglo Canadian Uranium President and CEO Len Harris. “The source of the gold from that operation is yet to be traced but is known to occur within altered schists that are thought to extend into the property area. Previous exploration efforts from the property noted the presence of a significant mineralized quartz vein and visible gold reported to occur within quartz stringers and localized shear zones. These require further investigation to determine their existence and areal extent.”
Previous exploration from rock samples collected in the Eureka Creek area from chlorite-quartz schist assayed 75.38 grams per metric ton gold and 22.2 g/t silver. The extent of this mineralized schist into the Armenius property requires detailed prospecting, possibly trenching and soil surveys to identify anomalous zones, the company said. If such zones exist, these would then be further examined with geophysical surveys to identify drill targets, it added.
Brew, Ind properties optioned Aldrin Resource Corp. Sept 8 reported receipt of regulatory approval to acquire two mineral exploration properties in the Dawson Mining District from Ryanwood Exploration Inc.
The Brew Property is comprised of 168 quartz mining claims covering an area of 33 square kilometers, or 8,400 acres. The property is located 100 kilometers, or 62 miles, south of Dawson City and 20 kilometers, or 12.4 miles, east of Underworld’s White Gold Discovery. The property was staked to cover an isolated placer gold mining operation that sits in the same geological environment as Underworld’s White Gold Discovery. The property also hosts a major northwest and northeast regional structure.
The Ind Property is comprised of 138 quartz mining claims covering an area of 27 square kilometers, or 6,800 acres. The property is located 24 kilometers, or 15 miles, south of Dawson City and 14 kilometers, or 9 miles, southwest of the famous Bonanza and Eldorado creeks. The Ind property hosts a favorable gold soil anomaly which was first discovered in 2004 during a regional soil sampling program.
Ten Mile Creek targeted Radius Gold Inc. Aug. 24 reported acquisition of a large gold target at the head of Ten Mile Creek, roughly 70 kilometers, or 52 miles, south of Dawson City in Yukon Territory. Ten Mile Creek is an active placer gold-producing creek with significant historic production. The head waters of Ten Mile drain an area underlain by an intrusive complex of probable Cretaceous age.
Work by previous operators in the area identified anomalous gold values in stream sediment, soil and rock samples. The area has never been drill tested. In 1998, Teck Resources Ltd. staked over 200 claims in the area and in the following three seasons carried out a reconnaissance program of geological mapping, soil and rock sampling and a minor trenching program on the property. This work outlined five gold-mineralized zones hosted in and adjacent to two Mesozoic quartz monzonite intrusive bodies. Much of the property has not been tested by soil or rock sampling.
After completion of a follow-up ground program (to commence shortly), Radius said it intends to test the previously identified gold targets by drilling.
Habanero Resources Inc. Sept. 21 reported the start of a work program at its Yukon gold prospect. Habanero has hired Equity Exploration Consultants Ltd. to oversee the program. Habanero has more than 18,000 acres in the region of the White and Yukon Rivers, with about 13,000 contiguous acres bordering Underworld’s claims.
“This is the first work program that Habanero has been involved with in more than two years,” said Habanero President Jason Gigliotti. “It is exciting to get underway on this gold prospect at a time of near all-time high gold prices.”
Pacific Ridge Exploration Ltd. Sept. 8 reported completion of a financing that will fund exploration of the company’s mineral exploration projects in Yukon Territory. Net proceeds of the private placement bring the company’s working capital cash position to about C$1 million. Exploration is under way at Pacific Ridge’s Klondike Kate mineral property in Yukon’s South Klondike area, with results to be reported as received, the junior added.
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