• Snapshot
  • Asset Highlights
  • Asset Overview
  • Mineral Resources
  • Geology and Mineralization
  • Historical Exploration
  • Current Work
  • Maps
  • References
  • Operator:

    Under Offer to Revere Development Corp.

  • Location:

    40km east of Keno City in the central region of the Yukon

  • Target:

    VMS

  • Commodity:

    Copper, Lead, Zinc, Gold and Silver

  • Last Updated:

    March 2015

Asset Highlights

  • Indicated resource of 3.96 Mt of 1.57% copper, 1.92% lead, 3.90% zinc, 49.40 g/t silver, and 0.79 g/t gold, and Inferred resource of 7.78 Mt of 1.12% copper, 1.36% lead, 2.89% zinc, 34.88 g/t silver, and 0.52 g/t gold, disclosed in a NI 43-101 technical report filed on SEDAR (Burgoyne, 2011)
  • The deposit is open to expansion down plunge to the east, down dip to the south, and along strike to the west
  • Untested exploration targets with significant geochemical signatures in favorable stratigraphy 

Asset Overview

The Marg Deposit consists of 402 quartz claims covering approximately 83 km2 (8,290 ha). It is located in the Mayo Mining district about 40 km east of Keno City and is accessible by a 45 km winter road. Access for exploration purposes is by helicopter from Keno City or Mayo and by small aircraft from Mayo to a 380 m airstrip located on the property. 

The Marg Deposit covers the Poly-metallic Marg Volcanic-hosted Massive Sulphide deposit. 

The Marg Deposit is located within Class A settlement land owned by the Na-Cho Nyak Dun First Nation. Further work on the property will be done in close consultation with the Na-Cho Nyak Dun First Nation and the local communities.

Mineral Resources

Marg Deposit - Mineral Resource
Estimate
Burgoyne, A.A., and Giroux, G., 2011
Resource
Category
Cut-off
Grade
(Cu%)
Tonnes
Cu
(%)
Pb
(%)
Zn
(%)
Ag
(g/t)
Au
(g/t)
Indicated
0.50
3,960,000
1.57
1.92
3.90
49.40
0.79
Inferred
0.50
7,780,000
1.12
1.38
2.89
34.88
0.52

Geology and Mineralization

The Marg Deposit is located within Earn Group Metasediments near the northern margin of the Selwyn Basin. Basement rocks on the property consist of Hyland Group coarse grained turbidites which are overlain by the Devonian-age Earn Group, black carboniferous shales and cherts with local felsic volcanic. The contact in the Marg area between the Earn Group and Hyland Group is a fault contact along the Robert Service Thrust.  The Earn Group is in turn overlain by Keno Hill Quartzite of probable Mississippian age. In the immediate Marg Deposit area the Earn Group argillites are in fault contact with the Keno Hill Quartzite (Holbeck, 2000; Holbeck et al., 2005; Carne and Giroux, 2007). 

The immediate host rocks of the mineralization consist of quartz sericite schist with local evidence of volcanic fragmental origin.  These units occur within a larger sequence of graphitic quartz sericite and quartz chlorite schist.   The Earn Group units are bound by two faults (the hanging wall fault and the footwall fault) which place Keno Hill Quartzites, of probable Mississippian age both above and below the Earn Group. 

Potentially economic copper, lead, zinc, silver and gold mineralization occurs within massive to semi-massive sulphides consisting primarily of pyrite with lesser chalcopyrite, sphalerite and galena.  Mineralization occurs in four separate horizons. 

The Marg Deposit is open to resource expansion down plunge to the east, down dip to the south and along strike to the west in untested areas of anomalous soil geochemical response.  A characteristic of massive sulphide deposits like Marg is that they tend to occur in clusters along favourable defined stratigraphy.  The property contains a 15 km long belt of favourable Devonian to Mississippian felsic metavolcanic and metasedimentary rocks. This sequence hosts the Marg Deposit as well as a number of other prospective areas based on results of prospecting and geochemical surveys by previous operators. Exploration outside the immediate area of the Marg Deposit is only at a preliminary stage, and the overall chance of expanding the resource and of discovering additional VMS occurrences on the property is good.

Historical Exploration

The Marg Deposit has been explored by a number of companies since publication of regional geochemical surveys by the Geological Survey of Canada in 1965, which revealed strong multi-element anomalies draining the Marg Deposit area. Exploration between 1965 and 2005 included geological mapping, geochemical sampling, ground geophysical surveys, bulldozer trenching and 23,034 m of diamond drilling in 86 holes. Work by Yukon Gold Corporation, the last operator of the project previous to its’ acquisition by Redtail Metals ( later acquired by Golden Predator), from 2005 through to 2008 included 11,145 m of diamond drilling in 22 holes. Yukon Gold also flew a helicopter-borne Versatile Time-Domain Electromagnetic (VTEM) survey in 2006 and drilled the property in 2008 (Cohoon, G.A., 2008). 

The drilling completed on the deposit has defined mineralization over a 1.4 km trend distance, a down dip distance of 700 meters, and across a stratigraphic thickness of approximately 100 meters. Previous resource estimates have been completed, as drilling progressed, in 2005, 2007, and 2008 (Holbeck et al., 2005; Carne and Giroux, 2007).

Current Work

In 2011, Redtail Metals (later acquired by Golden Predator) completed a NI 43-101 technical report for the Marg Deposit (Burgoyne, 2011) . The report recommends a two-phase exploration and development program. The first phase will focus on data compilation, the completion of metallurgical studies initiated by the previous operator, and the completion of a Preliminary Economic Assessment Report. The budget for the first phase program is estimated to be $340,000. The second phase of the program will include diamond drilling to test the strike and down dip extensions of the Marg Deposit and to acquire more sample material for further metallurgical testing. The second phase will also include further prospecting, mapping, geochemical and geophysical surveying, and diamond drilling of the favourable stratigraphy outside the Marg Deposit. The budget for the second phase of the program is estimated to be $3,720,000.

Maps

Marg project map

References

  1. Carne, R.C. and Giroux, G., 2007: Technical Report describing geology, geochemistry, geophysics, diamond drilling and resource estimation at the Marg property, Mayo Mining District, Central Yukon Territory; prepared for Yukon Gold.
  2. Holbek, P. M., 2005: Technical report on the Marg volcanogenic massive sulphide property, Mayo Mining District, Yukon Territory; technical report for Yukon Gold.
  3. Holbek, P. M, Wilson, R. G. and Copeland, D. A., 2000: Marg property year 2000 assessment report, Mayo Mining District, Yukon Territory; Yukon assessment report 094171, written for Atna Resources Ltd.
  4. Burgoyne, A.A., 2011. Technical Report and Mineral Resource Estimate for Redtail Metals Corp. Vancouver, BC, on the Marg Volcanogenic Massive Sulphide Deposit. Mayo Mining District, Yukon, Canada. 
  5. Cohoon, G.A., 2008. Assessment Report describing the 2008 Diamond Drilling and Metallurgical Testing on the Marg Property. Mayo Mining District Yukon Territory For YUKON GOLD CORP. Yukon Assessment Report.

Mike Burke, P. Geo, a Qualified Person as defined by National Instrument 43-101 and Chief Geologist for the Company has reviewed and verified the information.