The Company is pleased to announce that continuing exploration has commenced on its Nahatlatch Gold Property. The main access road has been repaired and opened to facilitate diamond drilling in the near future. Follow-up sampling to investigate the zone (see news release dated August 9, 2010) which assayed 62.5 g/tonne gold.
Electra Gold Ltd. is pleased to announce that it has an option to acquire 100% interest in the Dot-Apex Claim Group located some 25 km northwest of the community of Boston Bar in south western BC. The claim group encompasses 1,887.60 hectares covering an important auriferous-bearing structure hosting significant gold-silver values. The property can be accessed from Boston Bar via a series of former logging and mineral exploration roads.
The property covers the southern extension a of regional, northwest trending, transpressional structure referred to as the Kwoiek Creek Fault, part of an accretionary complex that makes up the Bridge River terrane. The fault system is represented by a series of second and lower order structures associated with a discontinuous belt of serpentinized ultramafic rocks. On the property, the serpentine and metamorphosed sediments form a zone of ductile deformation spatially related to several sedimentary-hosted, orogenic-style gold-silver-bearing zones.
The main anomalous gold enrichment areas, referred to as the ‘Dot’ and ‘Apex’ zones, are some 8-10 km apart and are structurally related. These zones are hosted along the Kwoiek Creek fault system and offer excellent potential for extension along strike. Two syn-post accretionary granite stocks intrude the fault system and are spatially related to the gold-bearing zones.
Historically, the area northwest of Boston Bar has received limited placer gold activity. In 1935, BC Ministry of Mines reported prospectors finding coarse placer gold along Log Creek. The potential source for this gold led to the prospecting of the serpentine along the Kwoiek Creek Fault. In 1936, the Geological Survey of Canada reported the discovery of anomalous gold-bearing zones along the fault which, are now, referred to as the Dot and Apex zones. The workings consisted mainly of open-cuts and shallow pits exposing quartz veins with sulphide mineralization in altered sediments carrying gold and silver. Much of this area has since essentially remained dormant of mineral exploration until more recent times. In 1983, the old workings covered by Dot and Apex zones were re-discovered and re-examined.
The Dot zone, partly exposed along a 40 metre wide escarpment was sampled in 1983. Of the 14 grab and chip samples collected, values ranged from a low of 0.3 gm/t Au and 3.1 gm/t Ag to a high of 118 gm/t Au and 56.8 gm/t Ag. This latter sample is of a 0.5 metre wide chip sample obtained from a highly mineralized quartz-arsenopyrite shear structure. In 1984 a major mining company tested the Dot zone with 6 exploratory drill holes. Three holes intersected wide sections of high altered carbonitized-siliceous-sulphide-bearing zones carrying sections of anomalous gold-silver values. The best hole intercept assayed 3.3 gm/t Au and 4.8 gm/t Ag across a core length of 7.77 metres. This included 7.0 gm/t Au and 6.5 gm/t Ag over 1.22 metres. These historical assays are not 43-101 compliant, however, the company believes this previous work is indicative of the mineral potential present in the area. Drilling shows the zone to be open along strike to the northwest and to depth.
The Apex zone is located some 8 km northwest of the Dot zone and is hosted in similar mineralized, altered and geological structures. Based on previous (1983-85) reconnaissance mapping and sampling, this zone is traceable for some 3 km along strike. Several of the old trenches and pits were also re-opened and sampled. The old workings expose highly altered siliceous sediments hosting iron carbonate, disseminated pyrite-arsenopyrite, quartz stringers and fuchsite-mariposite alteration. Several grab samples collected from the workings assayed between 0.75 gm/t Au to 2.3 gm/t Au. A mineralized-quartz grab sample collected from an escapment exposed along the northern extension of the Apex zone assayed 4.7 gm/t Au. A mineralized grab sample taken at the contact of a quartz monzonite stock intruding the zone returned 3.61 gm/t Au. The geochemical and assay values noted above are historical and do not conform to the 43-101 requirements.
During 1984-85, soil geochemical and VLF-EM reconnaissance surveys conducted by the major mining company, both gold-arsenic in-soil geochemical anomalies and coincidental VLF-EM signatures, traced the Apex zone for 3 km along strike. However, due to depressed gold markets of the time, the major company concluded that both the Dot and Apex zones, although producing positive results, were not warranted further exploration work. Consequently encouraging results from the Apex zone were never followed up.
Since the latter part of 1980s only limited exploration work has been conducted on the property. It is the Company’s plan to aggressively explore the Dot and Apex zones along strike commencing this season (2010). This work is to consist of phased exploration programs including: geological-geochemical-geophysical surveys, and based on positive results, conduct a diamond drilling program. |
