Property: 37 claims totaling 14,396 ha
Location: Approximately 45 km northeast of the past producing Golden Bear Mine and 120 km west of the village of Dease Lake in northwestern British Columbia.
Owned: 100% by Colorado Resources Ltd (“Colorado”)
Target: High grade low sulphidation gold-silver mineralization with potential also for bulk tonnage gold mineralization
Rock Type: Neogene (less than 23.6 Ma) and younger felsic and supboridnate volcanics and volcaniclastics
Work By Colorado
In 2011 Colorado Resources completed programs of airborne geophysics, satellite image analysis and prospecting on property. This work confirmed the presence of high grade gold and silver mineralization at the Top Zone with sampling returning values up to 31.6 g/t gold and 4,282 g/t silver. The 2011 program also discovered a new area of high grade mineralization on the property called the Midas Zone. Three of only five samples collected from the Midas zone in 2011 returned values of 4.7 g/t, 8.5 g/t and 10.4 g/t gold, with 23 g/t, 60 g/t and 32 g/t silver, respectively.
In 2012 Colorado completed programs of rock and soil sampling, geophysical surveying and detailed mapping on the property. This work identified the main lithologic and structural controls to mineralization on the property and discovered further high grade mineralization, including visible gold, at the Midas Zone. Assay results from 55 rock samples collected over a 100 by 200 metre area at the Midas Zone ranged from 0.035 g/t to 126 g/t gold and 0.6 g/t to 338 g/ t silver. The average value for these samples was 3.6 g/t gold and 22.4 g/t silver.
2015 & 2016 Exploration Program
Exploration in 2015 was funded by Centerra and managed by Colorado. The program included rock and soil sampling, geophysical surveying, geological mapping and drone supported detailed areal photographic surveying.
Significant gold values in surface grab samples were reported from the Midas, Top, Mogul and End Zones (see table below). The presence of visible gold was also noted in some of the higher grade samples form the Midas Zone.
The 2015 program confirmed that gold mineralization is focused along two lithologically and structurally defined corridors: the west-northwest trending 2 km long Top Zone to Midas Zone corridor and the north trending 4 km long corridor bounded by the Mogul East and Mogul West fault systems from the Bottom Zone north to the Mogal Zone.
In 2016, optionee Centerra Gold drilled 10 holes (1,648.66 m) where they tested 1 out of 7 targets. Numerous other targets and zones remain untested.
|HP 2015 Significant ( > 3.5 g/t Au) Rock Sample Results|
|Target||Sample #||Sample Type||Au ( g/t)||Ag ( g/t)|
On November 24, 2016 Colorado announced that it had received a formal notification from Centerra Gold Inc. that it will not proceed with its Year 2 commitments and therefor the option was terminated and the HP Property was returned 100% to Colorado.
The first recorded work on the property was in 1980. In 1984 Kerr Addison Mines drilled 8 holes on the property, one of which intersected 110 metres of 0.48 g/t gold at an area called the Top Zone. A further two holes were drilled on peripheral conceptual targets in 1995, but no other drilling has been completed on this very large alteration system.
Investors are cautioned that the exploration target at HP is an early-stage exploration prospect, conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Dr. Jim Oliver, Ph.D, P.Geo Company Chief Geoscientist is the Qualified Person as defined by National Instrument 43-101 who supervised the work program and preparation of the technical data on this website.
The 2015 samples were analyzed by Bureau Veritas Mineral Laboratories of Vancouver, British Columbia. All samples were analyzed by the AQ200 ICP-MS method, which reports base metal and silver results as parts per million (ppm) and gold results as parts per billion (ppb). All samples were also analyzed by the FA430 fire assay method which reports results in ppm and are equivalent to grams per tonne (g/t). Any samples returning greater than 10 ppm gold or 100 ppm silver were analyzed by the FA530 fire assay method with a gravimetric finish which reports results as grams per tonne. In order to investigate the possible effect of course gold on the assay result, a select number of samples were also analyzed by the screened metallic method (FS632).
The 2016 samples were analyzed by ALS of Terrace, British Columbia. All samples were analyzed by the ME-ICP41 ICP-MS method, which reports base metal and silver results as parts per million (ppm) and gold results as parts per billion (ppb). All samples were also analyzed by the Au-AA25 fire assay method which reports results in ppm and are equivalent to grams per tonne (g/t). A In order to investigate the possible effect of course gold on the assay result, a select number of samples were also analyzed by the screened metallic method (FS632).