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Coronet Metals Inc.
Summary
| Project: | Tay-LP | |
|---|---|---|
| Deposit: | Tay-LP | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/8/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-12-2017: Coronet Metals Inc. announces a Supporting Acquisition report for its Tay-LP deposit at the Tay-LP project. Summary of property in support of acquisition. The Tay-LP project of Coronet Metals Inc. is a gold exploration project, covering an area | |
| Resources: | x | |
| CP/QP: | [Overall Report]: James G Moors (Moors Geoscience) | |
| ABSTRACT: | The Tay-LP project of Coronet Metals Inc. is a gold exploration project, covering an area of approximately 8150 hectares, located in south-central Yukon, approximately 50 km south of the village of Ross River and 160 kilometres northeast of Whitehorse. The project comprises 413 contiguous mineral claims. An option agreement, executed on November 6, 2017, provides Coronet Metals the right to earn 100% of the property subject to a 2% net smelter royalty. The property is accessible by road during the summer months via the South Canol Road and a 20 km long dirt branch road. The region surrounding the property is underlain by variably metamorphosed, folded and faulted Paleozoic miogeoclinal rocks of the Pelly-Cassiar Platform. They range in age from Late Proterozoic to Triassic and include miogeoclinal clastic, carbonate and volcanic rocks. They are considered North American in origin and were deformed during Mesozoic arc continent collision. These rocks have been intruded by mid-Cretaceous intrusions of intermediate composition. Gold mineralization on the property is hosted by Cambro-Ordovician calcareous phyllite, marble and schist. Mineralization fits the intrusion-related epigenetic gold mineralization model of the "Tintina Gold Belt", based on gold-bismuth-tellurium chemistry, mineralogy, tectonic setting and age of intrusion. Mineralization occurs in structurally controlled veins and in replacement zones which parallel and in some cases cross-cut the dominant foliation. Over the complete thirty-three year history of the property, rock samples, soil and stream silt geochemistry, geophysical surveys, and diamond drilling has outlined abundant gold mineralisation. The exploration objective of further work is to define sufficiently broad and continuous structural or skarn hosted gold mineralization to support a profitable mining operation. | |
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