The Snowbird High Grade Gold Project consists of 10 mineral tenures, comprising 3,018 hectares, located approximately 20 kilometres west of Fort St. James, in central British Columbia. Gitennes has an option with a private company to earn a 100% interest in Snowbird. The Project is accessible year round via paved and dirt roads and sits at a relatively low elevation with moderate relief (not exceeding 190 metres) allowing access to all parts of the property and enabling cost effective diamond drilling programmes. In 2017 Gitennes completed mapping, sampling, ground geophysics and a 1,212 metre diamond drilling programme.
The Snowbird Project hosts structurally controlled orogenic gold mineralization and has been recognized as being similar to other high grade lode gold systems that are associated with terrane boundary structures and ophiolite complexes within the Cordillera. At Snowbird high grade gold results are associated with listwanite, a key ultramafic rock alteration directly associated with several multi-million ounce gold deposits in British Columbia, Atlin, Bralorne and Barkerville as well as the Motherlode District in California.
Gold at Snowbird occurs in veins and stringer zones localized within the northwest-trending Sowchea Fault Zone and associated subsidiary structures. Gitennes’ field work in 2017 delineated the strike extent of the Snowbird gold bearing structure for over 2.5 kilometres and combined with historical work the mineralized structure is up to five kilometres long. Better developed quartz-carbonate veins and stringer zones, and higher gold grades, occur at the hangingwall and footwall contacts of the host shear zone. The major host lithologies on the Snowbird Project are argillite, Alpine-type ultramafics (harzburgite), andesite, granodiorite, diorite and minor limestone.
In 2017 Gitennes completed the first diamond drilling at Snowbird since 1989. Including Gitennes ten holes a total of 98 diamond drill holes totalling approximately 10,500 metres have been completed. The 2017 programme was designed to primarily confirm that the Project was capable of hosting a high grade, narrow vein, gold deposit.
Historical diamond drilling results include:
o Hole 88-13 –16.26 g/t gold over 4.0 m, incl. 48.4 g/t gold over 1.0 m
o Hole 89-02 –11.89 g/t gold over 1.8 m , incl. 28.1 g/t gold over 0.6 m
o Hole 89-10 –9.63 g/t gold over 2.1 m, incl. 13.75 g/t gold over 1.1 m
o Hole 89-11 –7.66 g/t gold over 1.7 m, incl. 17.76 g/t gold over 0.6 m
Readers are cautioned that a “qualified person” (as defined by National Instrument 43-101) has not yet completed sufficient work to be able to verify the historical information, and therefore the information should not be relied upon.
Gitennes’ 2017 programme was successful with the key takeaways as follows:
- Multi-gram intervals were intersected in seven out of 10 holes, and include:
- Hole SB14-04 – 16.20 g/t gold over 1.0 metre
• Hole SB17-02 – 9.73 g/t gold over 0.8 metres
• Hole SB17-08 – 8.24 g/t gold over 0.52 metres
- Eight of the ten drill holes intersected gold grades greater than one gram/tonne;
- Highest grade gold intersected at relatively shallow depth, approximately 50 metres below the surface and remains open;
- High-grade gold intercepts occur within and adjacent to the 25 to 150 metre wide area of high deformation (faulting/shearing) and are associated with key pathfinder elements arsenic and antimony;
- Main target zone at Snowbird is within the 4.8 kilometre long Sowchea Fault. Elevated gold, arsenic and antimony have historically been determined to occur at several locations over 2.3 km of the Sowchea Fault. This target remains to be thoroughly drill tested;
- Drill core provides better understanding on controls on mineralization, focusses planning for successive phases of drilling.
Gitennes can earn a 100% interest in the Snowbird Project by making share payments and incurring exploration expenditures as follows:
|Date Completion||Number of Common Shares to be Issued||Minimum Exploration Expenditures to be Incurred|
|TSX-V acceptance of filing of Option Agreement||6,000,000 (issued)||Nil|
|On or before September 30, 2018||2,000,000||$500,000|
|On or before September 30, 2019||2,000,000||$500,000*|
|On or before September 30, 2020||2,000,000||$500,000|
*(extended to Dec 31, 2019)
Upon making the above share issuances and exploration expenditures, Gitennes will own 100% of the Snowbird Project subject only to a 2% net smelter returns (“NSR”) royalty to a maximum of $1,300,000 and reverting to a 1% NSR royalty with no cap thereafter.
For more information about Snowbird and Gitennes’ work on the Project please click on the tabs on the left side of page.