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Provenance Gold Corp.
Summary
| Project: | 2K Gold | |
|---|---|---|
| Deposit: | 2K Gold | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/4/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-10-2017: Provenance Gold Corp. announces a Supporting Acquisition report for its 2K Gold deposit at the 2K Gold project. Summary of property in support of acquisition, amended Appendix 3d. In June, 2016, Provenance Gold Corp., represented by Mr. Rauno P | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Carl Michael Schulzze (All-Terrane Mineral Exploration Services) | |
| ABSTRACT: | In June, 2016, Provenance Gold Corp., represented by Mr. Rauno Perttu, entered into an option agreement to acquire a 100% interest in the 2K Gold Property from Messrs. Ian and Colin Warrick of Moosehorn Exploration Ltd. To obtain this 100% interest, Provenance Gold Corp. must pay to the Warricks a total of CAD$3.61 Million, and conduct CDN $500,000 in exploration expenditures by the fifth anniversary date of signing. The Warricks will retain a 2% NSR royalty, which may be purchased by Provenance Gold Corp. for an additional CAD$2Million. The 2K Gold Property consists of 149 Yukon quartz mining claims in two closely spaced blocks, the Southwest Block and the Northeast Block, together covering roughly 2,825 hectares (6,978 acres). The property is located in the Moosehorn Range directly east of the Yukon-Alaska border, 133 air-km SSW of Dawson City. Yukon, and 405 air-kilometres northwest of Whitehorse, Yukon. The property is accessible in summer by fixed wing aircraft, with a local road network, and in winter by a 50-km winter road extending north from the Alaska Highway near Beaver Creek, Yukon. A two-phased program of exploration is recommended for 2017. Phase 1 will consist of a single large grid of soil geochemical sampling covering both the M-Zone and Kenyon Creek areas to test for continuity of mineralization. Reconnaissance-style “ridge and spur” soil sampling is recommended for northeastern property areas, as well as the north flanks of the Kate and Great Bear Creek valleys. Follow-up grid soil sampling and geological mapping of anomalous areas along Kate Creek and Great Bear Creek is recommended. Detailed geological mapping, combined with rock sampling of rubblecrop, roadcuts and placer excavations is also recommended. Phase 2 will consist of a 1,500-metre diamond drilling program in 15 holes, focusing mainly on the Kenyon Creek area and including other targets determined from Phase 1 exploration. | |
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