Premier East Property
The Premier East property contains approximately 600 hectares in 7 separate claims.
From historic data as well as field work conducted on the property from 2011 to 2019 the property’s geological setting has a good potential for discovery of an epithermal gold-silver deposit. Establishing the location of the boundary between Betty Creek and Unuk River formations appears to be of paramount importance. The neighbouring historic deposit of Premier-Silbak has been interpreted to be at least partly confined to the upper levels of the Unuk River Formation. It also has a reported up dip towards the property. The claims in this property total 705 ha within 500 m of the open pit over the former Premier gold-silver mine. Published data indicates that the Premier gold mine produced 2.3 million oz gold and 50 million oz silver over its production life. Recent work on the adjoining Premier mine indicates a possible return to production as per Ascot Resource (owner of the Premier property) press releases.
It is recommended that the next exploration program consists of detailed geological mapping and targeted rock sampling that focuses on the mineralization and alteration zones of the northern part of the property.
Copper mineralization occurs on the property in the form of chalcocite, chalcopyrite, bornite, as well as secondary malachite and azurite. Copper mineralization is commonly associated with sericite alteration, fractures and quartz veining on the property area. Strong sulphide mineralization in the form of sphalerite-galena bearing pods along veins carry exceptionally high concentrations of silver.
The results of sampling of the southern part of the claims are very encouraging. Samples collected in this area displayed evidence of abundant mineralization and returned highly elevated amounts of precious and base metals. It has been confirmed that the heavily mineralized sphalerite-galena bearing pods of the veins could carry exceptionally high concentrations of silver. The table below shows the grab sampling for the southern zone of mineralization:
The 2018 work resulted in the discovery of a new mineral showing in the northern part of the property. From historic data it appears that the northernmost part of the Premier East property has been poorly explored. Modern recession of the glaciers in the area provide a good opportunity for additional exploration in this area. A substantial portion of this part of the property is characterized by extensive overburden and will need careful future geological exploration. Sampling of this new showing, in close proximity to the Premier mine, is as follows:
|PEKM-1816 (float)||< 5||57.0||8740||10||32|
A float sample 400 m west of the overburden covered showing yielded 254 g/t silver, 0.1 g/t gold, 7.75 % zinc and 0.91 % lead.
Mr. Ed Kruchkowski, P.Geo (British Columbia), is the Qualified Person as defined by National Instrument 43-101 who has examined and reviewed this page and geological information available from public sources related to the property, and is responsible for approving the technical contents of this page. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to the historical drill results and any sampling. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
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