April 21, 2016

Ballarat Project

The Ballarat Project is located at the headwaters of Ballarat Creek, 120 km southeast of Dawson City, Yukon. The property covers 4,140 hectares of claims in a relatively under-explored area of the Tintina Gold Belt between the White Gold (Kinross) and Coffee (Goldcorp) projects.

 

Over 104,000 ounces of placer gold have been extracted from Ballarat Creek.

 

The target at Ballarat, like many of the gold deposits in the Yukon Range, is a structurally-controlled (orogenic) type target, hosted by moderate to high grade metamorphic rocks that have undergone subsequent large scale faulting and localized intrusion with accompanying hydrothermal alteration and mineralization.

 

In 2009 and 2010, the previous owner completed detailed deep auger-type soil sampling, prospecting and mechanical trenching. The work identified two very strong gold-in-soil anomalies, each appearing to trend east-west for a minimum distance of 1,000 metres (Northwest Zone).

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In 2011, Stakeholder Gold performed additional regional soil sampling which identified a number of gold-in-soil anomalies on the eastern portion of the property, including what is now identified as the Eastern Zone. The gold anomalies previously identified in 2010 on the Northwest Zone were the main targets of a 2012 drill program.

 

In July 2012, the company completed a five-hole, 753-metre core drilling program to test the two gold in-soil trends. The three holes drilled on the southern anomaly intersected low grade gold mineralization over narrow intervals; however, the two holes drilled on the northern anomaly did not encounter significant gold mineralization.

 

No exploration was performed between 2012 and 2015 during the global economic downturn in mineral exploration financing.