Mining News: Northern Neighbors: Darnley Bay options zinc-rich Clear Lake project from Yukon prospector

Darnley Bay Resources Ltd. May 24 reported that it has entered into an agreement to acquire the Clear Lake zinc-lead-silver deposit in the Yukon Territory from Bernie Kreft. Located roughly 225 kilometers (140 miles) north of Whitehorse this 2,479-hectare (6,125 acres) project is linked to the North Klondike Highway via a winter road to Pelly Crossing, roughly 65 kilometers (40 miles) to the west. Extensive exploration work has been carried out by a number of pervious operators, including 18,219 meters of drilling in 71 holes. An NI 43-101 technical report prepared by SRK Consulting in 2010 estimates that the deposit at Clear Lake contains an inferred mineral resource of 7.65 million metric tons grading 7.65 percent zinc, 1.08 percent lead and 22 grams per metric ton silver. The deposit consists of three elongated lenses, five to 30 meters thick and 450 meters in length that extend at least 300 meters down dip. Clear Lake is a sedimentary exhalative massive sulfide deposit occurring in Devonian- to Mississippian-aged shale. Recent geophysical work has identified three untested anomalies with similarities to the Clear Lake deposit, one of which is associated with a zinc-rich gossan.

-Shane Lasley