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Mariner Resources Corp.
Summary
| Project: | Silver Dollar | |
|---|---|---|
| Deposit: | Silver Dollar | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 2/14/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-2-2019: Mariner Resources Corp. announces a Supporting Acquisition report for its Silver Dollar deposit at the Silver Dollar project. Summary of property in support of acquisition. The Silver Dollar property is an early stage exploration project locate | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jim Chapman (Independent) | |
| ABSTRACT: | The Silver Dollar property is an early stage exploration project located in the Revelstoke Mining Division in southeastern British Columbia, Canada and is located 45 kilometers southeast of the city of Revelstoke and 15 kilometers north-northeast of the community of Trout Lake, British Columbia. The Silver Dollar property consists of 28 contiguous Mineral Titles-Online claims covering 3,344.68 hectares of land. The claims are located on Mineral Titles map sheet 82K/13E and are centered at 50°46’53” N Latitude and 117°36’32” W Longitude. The Silver Dollar claims are in good standing to at least November 1, 2019. On July 11, 2018, Explorex Resources Inc fulfilled all of its obligations under the May 15, 2016 option agreement with Happy Creek Minerals Ltd to purchase 100% interest in Happy Creeks Silver Dollar project. Happy Creek Minerals Ltd will retain a 1% NSR on the property pursuant to a royalty agreement dated May 11, 2016 between Happy Creek Minerals Ltd. and Explorex Resources Inc. On August 14, 2018 Explorex Resources Inc signed an Option Agreement with Mariner Resources Corp whereby Mariner Resources Corp can acquire a 75% interest in the Silver Dollar property by incurring cash payments of $425,000, the completion of $1,000,000 in exploration work expenditures and issuing 900,000 common shares of Mariner Resources Corp. over a four-year term. The Silver Dollar property is located in the historic Beaton-Camborne mining camp and lies within the Kootenay Arc, a 400 kilometer long curving belt of early Paleozoic and Mesozoic sedimentary, volcanic and metamorphic rocks. Metasedimentary rocks of the Lardeau Group underlie the majority of the Silver Dollar claims. The Lardeau group consists of 6 conformable Lower Paleozoic units named the Index, Triune, Ajax, Sharon Creek, Jowett and Broadview formations. The Jowett Formation is a greenstone unit intercalated with the Broadview Formation and consists of volcanic breccias and pillow lavas altered locally to chlorite schist. The dominant lithology of the Broadview Formation is grey-green, gritty quartz wacke or subarkosic wacke with grey to black or green slate or phyllite interbeds. | |
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