WORK HISTORY
Staked as Caribou & Blue Jacket cl (380A) in Apr/01 by W.F. Geary & R. Fulkerson and Midas cl (394A) by R.B. Eames, probably also in 1901. They performed trenching and drove an upper adit 23 m long and a lower adit 115 m long between 1901 and 1912 in association with J.S. Peters, J.W. Gillissie and H.H. McKern.
The property was apparently idle until May/43 when John Stenbraten staked Victory (19305), Gudrund (19306) and Stampede (19307) claims. Stenbraten carried out considerable hand trenching and drove a third adit (5 m long) on the Victory claim in 1948.
Restaked as Zula cl 1-8 (68786) in Jun/54 and as Saki cl 1-8 (70691) in Jul/55 by McLeod-Shuttlecock Gold Mines Ltd, which carried out further trenching and drilled 3 x-ray holes (about 39 m) in 1955-56.
Restaked as Beaver cl 1-8 (356446) in Jul/69 by Quested Mining Corp Ltd, which surrounded the claims with Mink cl 1-50 (Y45788) in Dec/69. The property was optioned to Colorado Corporation (a subsidiary of King Resources Company), which conducted grid soil sampling, mapping and a small IP survey over the occurrence area in 1970.
Restaked as Lynx cl 1-8 (Y67873) in Dec/72 by the Loon Lake Syndicate, which added Lynx cl 9-16 (Y79303) in May/74. The syndicate carried out soil sampling and geological mapping in late August and early Sep/74. The syndicate carried out further soil and rock sampling in 1975. In Sep/78 the syndicated staked Lynx cl 17 (YA23720) at the northeast end of the claim group to cover open ground and trenched various targets located within the claim group.
In 1984 Archer Cathro and Associates (1981) Ltd sampled the rock dump piles surrounding the main adit and surrounding outcrops.
Restaked as Loon cl 1-16 (YA94059) in Dec/85 by Archer, Cathro and sold to Silverquest Resources Ltd in Mar/86 which prospected and sampled in Jul/86. It appears the claims were transferred to Cash Resources Ltd in 1992. In Jun/93 Cash Resources collared 2 diamond drill holes (116.43 m) to test a prominent kill zone located near the occurrence location.
In Feb/95 the claims were transferred back to Archer, Cathro and Associates (1981) Ltd which allowed the claim group to expire over time. The last Loon claim expired in Mar/2009.
Restaked within Salloon cl 1-16 (YF47076) in Jun/2016 by Strategic Metals Ltd which added Salloon cl 17-52 (YF41357) in Jul/2016. The company carried out geological mapping, rock sampling and compiled all of the historical soil sampling and geophysical data. The company also collared one diamond drill hole (113.08 m) on the Main showing.
In Apr/2017 Strategic Metals staked Balloon cl 1-28 (YF56301) on the south end of the Salloon claim block and Balloon cl 29-215 (YF56329) on the northwest side of the claim block. The Balloon claim block extends northwest ward onto topographic map sheet 105E 08.
GEOLOGY
The occurrence area lies north of Upper Loon Lake approximately 68 km northeast of the City of Whitehorse in south-central Yukon. Access is normally obtained by float plane to Upper Loon Lake or by helicopter stationed in Whitehorse. The Livingstone Trail, a winter-only trail suitable for tracked vehicles provides access to placer gold mining operations in the Livingstone Creek area, centered approximately 16 km north of the property. Use of the winter trail entails crossing over the Teslin River which presents its own challenges.
The occurrence straddles the boundary between Quesnellia and Yukon Tanana terranes, both of which represent continental arcs that developed along the ancient Pacific margin of North America. The occurrence lies west of the Big Salmon Fault which separates Neoproterozoic to Devonian (?) Snowcap assemblage rocks to the east from Devonian to Mississippian Finlayson Lake assemblage rocks to the west. A splay of the fault, locally named Loon fault, parallels the Big Salmon Fault to the west and cuts through the Finlayson assemblage. A third fault, the Moose Creek Fault separates the Finlayson assemblage from Upper Triassic Semenoff formation (Quesnellia terrane) further to the west.
Detailed geological mapping of the occurrence area is hampered by heavy vegetation and overburden cover. R.L. Simard (2003) under contract to the Yukon Geological Survey carried out preliminary mapping of the northwest-central portion of topographic map sheet 105E 01. In 2016 the Yukon Geological Survey conducted a VTEM Plus geophysical survey over topographic map sheet 105E 08, located directly north of the occurrence area. M. Colpron of the survey used the results of this survey to release an updated geological map of topographic map 105E 08 in 2017. Colpron also used the results of his work to update the geological units around the occurrence area. Colpron’s work is captured on the geological compilation map for the Yukon released in 2016 (Open File 2016-1).
The occurrence hosts a series of copper-silver-gold mineralized showings that lie along or near a zone of silicification which appears to follow the surface trace of a splay (locally named Loon fault) coming off the Big Salmon Fault. The primary bedrock sequence in the main area of interest consists of interlayered, metamorphosed clastic sedimentary and volcaniclastic rocks likely correlated to the Finlayson assemblage. Individual rock types appear to consist of quartzite, greenstone and calcareous and non-calcareous schists. Theses rocks are intruded by scattered mafic and felsic dykes of unknown age. Foliation and bedding in the area generally trends northwesterly.
No historical records documenting exploration work before 1969 can be located. The only evidence available are a series of 6 adits dug north of the Main showing. All of the adits have collapsed and no underground descriptions or assays are available, however most are marked by slumps and rock dumps located near them. The larger of the two historic adits (115 m long) known as the Lower or Main adit (UTM ~ 542961 E, 6784746) appears to have been dug on typical copper-silver-gold mineralization. A grab sample from its rock dump collected in 1984 by Archer, Cathro and Associates (1981) Ltd returned an assay of 5.49 g.t gold, 13.03 g/t silver and 3.4 % copper (Assessment Report #091887, p. 7). A composite rock sample collect in 2016 by Strategic Metals returned an assay of 6.4 g/t gold, 12.5 g/t silver and 7.72 % copper.
Approximately 75 m to the north, the second adit (the Upper or Northern adit, (23 m long)) was driven on a 45 cm wide quartz vein containing abundant chalcopyrite. Selected samples collected in 1984 from the adit dump returned up to 44.6 g/t gold, 144 g/t silver and 10.37 % copper although more representative samples returned 11.3 g/t gold, 17.1 g/t silver and 7.4 % copper.
The Main showing lies approximately 150 m south of the two adits and has seen the most exploration. It consists of a 30 m by 30 m area of strongly silicified outcrop containing rusty red to orange, often malachite-stained rock. The area lies on a steep slope devoid of vegetation. Chalcopyrite, pyrite and rare galena mineralization is hosted within several generations of quartz veins and within the silicified country rock. The quartz veins trend north-northwest and dip steeply to the west. A 2.5 m chip sample collected in 1978 by Sevensma (Assessment Report #091131 p. 5, 15) returned an assay of 5.14 g/t gold, 7.2 g/t silver and 0.95 % copper. Chip sampling carried out by Archer Cathro and Associates (1981) Ltd in 1984 returned an assay of 0.34 g/t gold and 0.3 % copper over 18 m (Assessment Report #091887 p. 11)
Prospecting conducted by Silverquest Resources Ltd in 1986 identified wide-spread low-grade copper-silver-gold mineralization within a large area of pervasive silicification and quartz veining 1.2 km north of the Main showing. Grab samples returned up to 0.69 g/t gold. Two float samples collected 1.5 km to the north returned 0.27 g/t and 0.77 g/t gold. Prospecting also led the discovery of a third adit, located approximately 1 20 m southwest of the Main adit. The Western adit (UTM ~542844 E, 6784649 N) straddles a parallel northwest trending structure. A grab sample collected in 2016 from the adit dump returned 0.83 g/t gold, 27.5 g/t silver and 2.78 % copper.
In 1993 Cash Resources tested the Main showing with two diamond drill holes. Both holes were drilled to the west. The first hole (93-1) did not intersect the silicified zone or mineralization and was abandoned at a depth of 63.09 m. The second hole (93-2) intersected 24.06 m of intensely sericite- clay-altered, silica-flooded rock that averaged 0.16 g/t gold, 2.0 g/t silver and 0.49 % copper. Although surface outcrop was malachite stained, the wallrock in the drill holes were unmineralized. Geological mapping completed by Strategic Metals indicates that mineralization dips west sub-parallel to the historic holes.
As part of their exploration program Strategic Metals prospected and compiled all existing exploration data. The 6 historic adits, their accompanying rock dumps and the Main showing are all located within a 300 m by 250 m area which the company labeled the Main zone. The company chip sampled the Main showing and collected grab rock samples from the rock dump located next to the Lower adit. Chip samples collected from the Main showing averaged 0.565 g/t gold, 3.89 g/t silver and 0.11 % copper over 20.0 m and 0.590 g/t gold, 2.71 g/t silver and 0.08 % copper over 6.0 m. Grab samples returned historic values.
Strategic Metals prospected northward from the Main zone and along the trend of the locally named Loon fault. The company discovered 7 addition zones of mineralization; Gun Show, Sheriff, Gambler, Cowboy, Cowgirl, Deputy and Bar zones over a strike length of approximately 1 500 m. The Gun Show, Sheriff, Gambler, Cowboy, Cowgirl, and Deputy zones are located on or adjacent to the fault while the Bar zone is located to the west. The Gambler zone was trenched and sampled while the other 6 zones were briefly examined and sometimes assayed for gold. Gold assays were generally low grade.
Compilation of previous soil sampling data revealed two distinct north-trending soil anomalies. Anomaly A outlined a 1 500m by 450 m north-northwest trending area of weakly to very strongly elevated copper-in-soil values and sporadic gold support. The anomaly covers all mineralized areas except for the Bar showing. Anomaly B is located 50 m west of Anomaly A and covers an area measuring 1 800 m by 370 m containing weak to strongly anomalous gold values. Ground magnetic and IP surveys carried out in 1970 outlined three north- to northwest-trending and three northeast trending anomalies. The anomalies follow the main structural trends identified on the property with arcuate north-northwest trends in the vicinity of the Main showing and the neighboring adits and northeast trends near a shear zone further north. The IP anomalies coincide with soil geochemical anomalies A & B and could represent unidentified mineralized zones covered by vegetation and/or till.
The 2016 drill hole was drilled eastward beneath the Main showing and was designed to scissor the two 1993 drill holes. Drill core was highly fractured to gougy and core recovery was poor (averaging about 55 %). The hole was mineralized almost to the bottom and was terminated at a depth of 133 m due to difficult ground conditions. The best result was a 30.23 m intersection (from 36.52 to 66.75 m depth) which assayed 0.40 % copper, 128.46 g/t silver and 0.05 g/t gold. Included within this interval is a 10.53 m intersection (from 39.76 to 50.29 m depth) which assayed 1.01 % copper, 81.87 g/t silver and 0.123 g/t gold. Much of the silver was recovered from the screened fraction, which indicates that it is occurring as native silver. Antimony, arsenic and lead values were low throughout the hole.
The Balloon claims were staked to cover strong multi-element stream sediment anomalies from creeks that drain the same prospective, metavolcanic stratigraphy.
