Clear Creek

Overview

  • Clear Creek Property Location
    Clear Creek Property Location

Property Location

The Clear Creek Property is located in the Dawson Mining District, approximately 110 km southeast of Dawson City, 60 km southeast of the Brewery Creek Mine and 60 km southwest from Victoria Gold’s Eagle Gold Project. The Property is accessible by road.

Background

The Clear Creek Property was optioned to Golden Predator (“GP”) in December 2009, and was returned to Victoria Gold in 2012. The Property initially consisted of 77 quartz claims. Over the course of GPs’ two years of work, the property area was expanded to its current 233 contiguous quartz claims totalling ~4,500 hectares.

Victoria Gold now holds 100% of the mineral claims that comprise the Clear Creek Project.

The Property has two distinct underlying royalty agreements in place wherein Victoria Gold pays annual cash payments to maintain the claims.

Target Deposit Type

Intrusion-related gold.

Geology and Mineralization

The Clear Creek Project is an intrusion-related gold system within the Selwyn Basin. The project covers the headwaters and upper drainage of Left Clear Creek, which has historical recorded production of 129,000 oz of gold Au since 1949.

The gold mineralization is interpreted to be associated with the Cretaceous Tombstone Suite plutons in several distinct zones, separated over kilometers. Gold mineralization occurs in broadly disseminated zones, skarns, sheeted veins and breccias

Mineralization is hosted within and adjacent to Tombstone age (~92 Ma) diorite, granodiorite and quartz monzonite stocks and comprises sheeted quartz veins within the stocks and metamorphosed Hyland Group rocks, silicified shear zones and breccias. Mineralization appears to coincide with the Tombstone High Strain Zone (THSZ), which cross cuts the Clear Creek property. The THSZ is considered to have a significant influence on mineralization at Victoria’s flagship development project, Eagle Gold (formerly Dublin Gulch).

Gold mineralization is generally associated with arsenopyrite in quartz veins and correlates with bismuth.

Exploration

The prospecting history at the Clear Creek Property dates back to the early 1900’s, however modern exploration efforts did not commence until the late 1970’s. Bema Industries, working on contract from Canada Tungsten Corporation, was the first company to recognize potentially significant gold mineralization in 1978. Since this initial effort, various companies have conducted exploration programs including Gold Rite Mining Corp., Noranda Exploration Ltd., Ivanhoe Goldfields Ltd., First Dynasty Mines Ltd., Kennecott Canada Inc., Newmont Exploration Limited, Redstar Resources Corporation, and StrataGold Corporation (now Victoria Gold Corp.).

Noranda Exploration Ltd. conducted extensive soil and rock chip sampling, ground geophysical surveys, trenching, road building, and a six-hole reverse circulation (“RC”) drilling program in 1991 and 1992.

In 1995, Kennecott Canada Inc. completed drilling, soil sampling and 320 m of bulldozer trenching and conducted a 27 hole RC program that successfully identified an east-west trending zone (1,200 m by 200 m) to 65 m below surface.

In 1998, Newmont Exploration Limited conducted an airborne magnetics and radiometrics geophysical survey over the Property. The interpretation of this data by Newmont suggested that the Eiger, Saddle, Josephine and Pukelman stocks may have been part of a single larger intrusive body, and that the Rhosgobel and Far stocks were independent of this larger intrusive body.

Historic drilling by Redstar Resources Corporation on the Bear Paw Breccia zone included two diamond drill holes in 1999; and nine HQ-diameter diamond drill holes totaling 2,000 metres. The best intercept from the Bear Paw Breccia zone during this program returned 2.3 g/t Au over 31.8 m.

In 2006, StrataGold Corporation conducted a detailed trenching and soil sampling program on the Bear Paw Breccia and Contact zones. Infill sampling was also conducted to follow-up on geophysical and historical gold anomalies identified by previous property operators.

Historic exploration programs have identified several zones of Au-As±Bi anomalies on the Property, seven of which have been drilled with varying degrees of rigour since the 1970’s. The bulk of GP’s 2010-2011 exploration efforts focused on the Bear Paw and Contact zones.

Drilling at Clear Creek has encountered both thick, low-grade zones (e.g. 42.68 m of 1.87 g/t Au from 1.52 m, CC10-07, Bear Paw), and narrow high-grade zones (e.g. 1.52 m of 137.50 g/t Au from 3.05 m, CC10-22, Contact). The most significant results from the three main zones are shown in the tables below.

  • Drill Hole Results table
    Drill Hole Results table

Golden Predator’s 2010 program included drilling 42 holes (combination of diamond and RC) The Bear Paw, Contact, Saddle and Josephine Zones were targeted during this program, and gold mineralization was intersected in all zones except for Josephine.

The 2011 Bear Paw program, was designed to infill and expand the envelope of mineralized breccias that were tested during the 2010 drilling program. The Contact drilling program was designed to further test the mineralized sheeted vein system drilled in 2010.

The 2011 exploration program included drilling 18 HQ diameter diamond drill holes, and a soil sampling program consisting of 1,026 samples. Four diamond drill holes (CC11-043 to CC11-046) were completed at Contact and 14 diamond drill holes (CC11-047 to CC11-060) were completed at Bear Paw. All 18 drill holes encountered gold mineralization.

Conclusions and Recommendations:

The exploration work conducted by Golden Predator in 2010-2011 was successful in compiling a cohesive and enlarged mineral exploration claim package at Clear Creek.

The existence of anomalous gold mineralization throughout the Property has been validated by focused and competent mineral exploration, and has served to highlight the exploration potential of the Clear Creek Project.

Victoria Gold intends to test this Project’s mineral potential through a systematic, property-wide exploration effort including the extension of existing geochemical grids, and targeted ground-based geophysical surveys followed by exploration drilling.

Content on this page has been reviewed and approved by Paul D. Gray, P.Geo., Victoria Gold’s Qualified Person with respect to the Clear Creek Project.

Maps

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