The Up Town Gold Project (the “Property”) is a high grade Archean lode gold prospect adjoining the Giant Mine in Yellowknife, Northwest Territories. The Property consists of 6 claims covering 3,227 hectares and borders the west side of the Giant Mine leases. The Property centre is approximately 6 km north from downtown Yellowknife, and adjoins TerraX Minerals’ Yellowknife City Gold Property. The Property is road accessible year round via the Ingraham Trail (Territorial Highway 4) which runs through the eastern portion of the claims. Gold was discovered on the Property in 1960 and two targets were explored intensively from 1963 to 1966. Small scale high grade mining was conducted at the Rod Vein in 1979. In 2011, the Property was restaked by Panarc Resources Ltd. and since then has been explored by Panarc, Manson Creek Resources Ltd. and North Sur Resources Ltd. who mapped, sampled, conducted geophysical surveys and drilled nine shallow (Winkie) drill holes into three of the targets. Silver Range Resources purchased the Property in 2016 and recently completed systematic property-wide lithogeochemical sampling, alteration mapping and airborne total magnetic field and radiometric surveys.
NI 43-101 Report
The Up Town Gold Project qualifies as a Tier II listing property pursuant to the Toronto Venture Exchange listing policies. For a a copy of the of the Up Town Gold NI 43-101 Report please Contact Us.
The Property covers eight gold showings, collectively defining two corridors of structurally hosted high-grade gold mineralization sub-parallel to the shear zone hosting the Giant Mine Deposit (8.1 M oz Au). The Fox South Shear is 1,100 m west of the Brock Shaft at Giant Mine and consists of a reverse shear zone 10 to 70 m wide mapped over a strike length of 400 m. Grab samples from this zone have assayed up to 30.3 g/t Au and sawn channel sample results have returned up to 1.1m @ 2.20 g/t Au. Two holes have been drilled into this zone, returning 4.14 m @ 2.62 g/t Au and 2.13 m @ 4.67 g/t Au. Further west, seven showings define a 4.5 km long, 500 m wide corridor of structurally hosted gold occurrences. Recent work and historic high grading focused on the Rod Vein. This is a laminated quartz vein carrying disseminated pyrite, galena, chalcopyrite and free gold hosted in a NNE striking, moderately SSE dipping reverse shear. The vein is 100 m long at surface, up to 3.0 m wide and rakes moderately NNE in the plane of the shear. It has been drill tested to approximately 20 m. In 1979, 11.02 t of hand-sorted ore grading 56.2 g/t Au was mined from the top of the vein. Recent surface sampling along the vein has yielded grab samples assaying to 318 g/t Au and best channel sample results of 1.20 m @ 17.27 g/t Au. Five shallow drill holes were drilled into the Rod Vein in 2013 and 2015 which returned best results of 2.22 m @ 27.47 g/t Au. The other showings along the western zone are similar in structural style and type of mineralization.
2016 Exploration Program
From June to August, 2016, a program of lithogeochemical sampling; alteration mapping; prospecting; and airborne total magnetic field and radiometric surveys. The prospecting program identified two new mineralized veins and confirmed reported mineralization in a third vein. Sampling south of the Rod Vein located mineralization discovered a new mineralized vein (Southpaw Showing) which returned grab sample assays up to 5.1 g/t Au. Between the Western Corridor and the Fox South Shear, another new mineralized vein (Right Field Vein) was located. This vein is exposed over strike length of approximately 40 m and grab samples returned assays of up to 3.8 g/t Au . Finally, a vein described by the Geological Survey of Canada to be gold bearing with no values reported (11S Vein) was relocated. Sampling along the previously mapped 300 m strike length returned highest grab sample results of 19.1 g/t Au . Additional vein mineralization was identified another 100 m along strike, returning best grab sample assays of 145.5 g/t Au. Results from the other components of the summer exploration program will be released pending completion of geostatistical analysis and interpretation.