Vancouver, British Columbia, May 18, 2022 (GLOBE NEWSWIRE) — Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “The Company”) has announced the acquisition of Eagle Lake’s assets in South Central British Columbia (British Columbia). This property was acquired for Takomkane’s property through a combination of staking and sale agreements with Teck Resources Limited (“Teck”).
Eagle Lake Location Map (View high resolution version).
Highlights of the new Eagle Lake properties
- It is directly adjacent to the Woodjam Cu-Au (copper-gold) porphyry project of Consolidated Woodjam Copper Corp., which hosts the estimated resources. 1.7B pounds of copper and 968,100 ounces of gold An aggressive 2022 exploration program is planned.
- The results of limited historical expeditions at Eagle Lake Properties include: 3.52 g / tAu 9.9 meters or more This has not been followed up yet.
- cover 18,990 hectares Future ground surveys with possible discovery of porphyry copper deposits and medium-temperature gold deposits.
- 100% owned by Trailbreaker Resources, Some of the claims packages are subject to Teck’s 1% Net Smelter Loyalty (NSR).
- Located in the Caribou Block, 55 km east of Williams Lake, British Columbia.
- Excellent road accessibility Through an extensive network of well-maintained Forest Department roads.
- Some of British Columbia’s massive Cu-Au porphyry deposits are located within the hosted Kesner Terrain.
Trailbreaker CEO Daithi MacGearailt commented: “This is a groundbreaking acquisition for Trailbreaker Resources and clearly understands our vision of integrating this land package and increasing the likelihood of new discoveries in this unexplored region of British Columbia. I am very grateful to Teck. “
About Eagle Lake Property
The 18,990 hectares of Eagle Lake site are early porphyry copper deposits and medium-temperature gold deposits in the Caribou Block, about 55 km east of Williams Lake in south-central British Columbia.
(See overview map). Accommodation is a road accessible from an extensive network of well-maintained Forest Office roads. The Eagle Lake property is 100% owned by Trailbreaker, some of which is subject to a 1% NSR to Teck.
The newly integrated Trailbreaker claim is located within Kessner Terrain, where some of BC’s massive copper-gold porphyry deposits are hosted. These include the Afton mine in New Gold, the Mount Polley mine in Imperial Metal, the Gibraltor mine in Taseco, and the Mount Milligan and Chemes mine in Centara Gold. Kessner Terrain also hosts a number of advanced gold projects, including the Spanish Mountain Gold project (measured and displayed resources over 4.5 Moz Au) 45 km north of Lake Eagle and the Karus Gold FG Gold project located 35 km. I am. east.
The property is supported by the Nikola Group’s minor Late Triassic volcanic rocks, as well as Late Triassic to Early Jurassic intrusive rocks of Tacomcane Batholith (see regional geological map). The Eagle Lake property is adjacent to the advanced Woodjam Cu-Au project and shares similar geological settings. The Woodjam project targets the Cu-Au porphyry deposit with an estimated resources of 1.7 billion pounds of copper and 968,100 ounces of gold.
The Trailbreaker team believes that the gold potential of this property has been overlooked in the past, as copper porphyry-style mineralization was the focus of all previous research done on this property. For example, in 2010, a small diamond drill program targeting the Cu-Au porphyry mineralization (“Moffat Zone”) at the southern end of the Eagle Lake property produced a significant gold-only mineralization. In the Moffats Zone, excavation returned 3.52 g / t Au sections over 9.9 m (starting at 253 m) in quartz stockwork and breccia (see Moffats Zone Map). No follow-up work has been done so far. A regional til sampling program conducted in 2019 showed that anomalous til gold values were returned from the southern part of the Eagle Lake property hosting this drill hole.
2022 expedition on Lake Eagle
Trailbreaker plans to focus on exploration work in the Moffats Zone with a detailed mobile metal ion (MMI) soil geochemical survey. MMI Geochemistry is a proven surface exploration technique with a proven track record of discovering deeply buried deposits around the world. Unlike traditional soil geochemical surveys, MMI analysis measures the metal ions that move upward from the bedrock and accumulate in the surface soil, thus detecting deeply buried mineralization and making it more focused. Can provide narrowed down anomalies. The planned MMI survey is tightly spaced and designed to provide drill targets focused on potential drill campaigns in the future.
Contract terms with Teck
The following conditions apply to the sale of claims held by Teck:
- Trailbreaker shall issue 125,000 shares of common stock within 7 business days of being approved by the TSX Venture Exchange. Upon issuance of shares, Teck will transfer ownership of the property to Trailbreaker.
- Teck shall retain 1% NSR of the property.
For more information and maps on Eagle Lake properties, see the dedicated section of the Trailbreaker website.
Message from the president
“I’m very excited about the addition of Eagle Lake’s assets to our ever-growing portfolio of projects. The addition of a new project in Southern British Columbia has now greatly enhanced our busy exploration. Looking forward to the season. Eagle Lake Properties has the potential to become a true game changer for Trailbreaker.
There is plenty of land to explore here, with excellent access and infrastructure, and with neighbors like the Woodjam Copper-Gold project, it’s easy to imagine the potential of the area.
As always, stay tuned for future updates! “
On behalf of the board
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo, a consulting geologist at Aurora Geosciences Ltd. Is a Qualified Person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information for this release.
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Description of future prospects
Non-past factual statements contained in this news release are “forward-looking information” or “forward-looking statements” in the sense of applicable Canadian securities law and US civil lawsuits (collectively, “future”. Information about the outlook “). Reform Act of 1995. Forward-looking information includes, but is not limited to, disclosures of possible events, circumstances, or financial performance based on assumptions about future economic conditions and course of action. Expectations for future exploration and drilling programs and receipt of related permits. In some cases, forward-looking information may include the use of words or phrases such as “expect,” “expect,” “understand,” or “agree,” or such words or phrases that take specific actions. Can be identified by variations of or statements. The event or result is “occurs”, “occurs”, or “achieved”. Trailbreaker has sought to identify important factors that could affect Trailbreaker and that actual actions, events, or outcomes could differ materially from those described in the forward-looking information. , Actions, events, or other factors that may cause unexpected results. , Estimated or intended. In making forward-looking statements in this news release, Trailbreaker has applied some key assumptions, including the assumption that general business and economic conditions will not change in a substantially unfavorable manner. Actual results and future events may differ materially from those expected in such statements and there is no guarantee that the information regarding the future outlook will be accurate. Therefore, readers should not place excessive reliance on information about future prospects. Unless required by law, Trailbreaker publishes a revised version of the forward-looking information contained in this news release to reflect events and circumstances after this date or to cause unexpected events. We do not have any obligation to reflect it.
Trailbreaker Resources gets the EagleLake property adjacent to Woodjam Copper, South Central British Columbia
Source link Trailbreaker Resources gets the EagleLake property adjacent to Woodjam Copper, South Central British Columbia