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Pike Mountain Minerals Inc.
Summary
| Project: | Otter | |
|---|---|---|
| Deposit: | Otter | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/17/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-1-2019: Pike Mountain Minerals Inc. announces a Supporting Acquisition report for its Otter deposit at the Otter project. Summary of property in support of acquisition. Pike Mountain Minerals Inc. is earning a 100% interest, subject to a 3.0% net smelt | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Warren Robb (Independent) | |
| ABSTRACT: | Pike Mountain Minerals Inc. is earning a 100% interest, subject to a 3.0% net smelter return (NSR) royalty in the Otter property, an epithermal precious metal project, by paying $20,000, issuing 800,000 shares and completing $650,000 in exploration work over the next three years. The road accessible Otter property lies 20 kilometres northwest of Princeton, British Columbia and consists of 6 claims totaling 2,825hectares. The Otter property is underlain by the Lower Cretaceous Spences Bridge Group, an andesitic to rhyolitic volcanic arc belt of rocks, lying in south central British Columbia. This belt, a target for epithermal precious metal mineralization, stretches from the north of Princeton to the west of Cache Creek with additional outliers continuing further north to Gang Ranch. Pike Mountain Minerals Inc. completed a 1512 sample soil geochemistry program over twenty six lines with 25 metre sample spacings along 100 metre spaced lines extending the soil geochemistry grid to a full 5 kilometres. Bedrock mineralization has yet to be found on the Otter property. A suspected regional lineament trends more or less north south through the present claim block. 2006 panned stream sediment sampling both within and outside of the 2015 Otter claim block returned four anomalous values ranging from 15 ppb Au to 380 ppb Au draining the area of the lineament. Multi-year grid soil sampling along a 5 kilometre section of the lineament highlighted a 50 to 200 metre wide gold-in-soil anomaly along the entire 5 kilometre length sampled meaning the anomaly remains open in both directions. 3D IP surveying in 2012 located coincident resistivity and chargeability anomalies within the southern section of the regional lineament. The author therefore concludes this section of the regional lineament needs to be tested by a program of excavator trenching and diamond drilling. In addition, the recently staked claims need to be prospected and mapped | |
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