Canadian Gold and Base Metal Exploration
TSX-V: KG

Title Holder:
Klondike Gold Corp
KG Ownership:
100.0%
Acquisition Method:
Earned-in
Underlying Royalties:
Yes
Land:
3,259 ha
Claims:
9 claims
Location:
West Kootenays
447000 E 5435000 N, UTM ZONE 11N (NAD 83)
Mineral Targets:
Copper and Gold
Qualified Person:
Dr. Trygve Höy, P.Eng
Red Point

Asset Considerations

There is a 2% Net Smelter Royalty agreement on the property with an entire buyback for $1,500,000.

Property Geology

The Red Point area is underlain by Elise Formation metavolcanic and metasedimentary rocks that are exposed in a 1.5 to 2.5 km wide embayment in the east-trending Rossland monzonite. Numerous north-trending dykes cut all lithologies. A high-grade gold-quartz vein, the Cathedral, trends easterly, parallel to the trend of similar style mineralization in the Rossland camp. Disseminated and fracture controlled mineralization occurs in the northwestern part of the area and this has been the focus of past exploration drilling and more recent drilling by Klondike Gold Corp.

Work Completed During Period

There is no material work that has been completed on the property during this period.

Maps

Historical Work Completed

The Red Point claims are located 5 km east of the Rossland lode gold-copper camp and a kilometer due south of the smelter at Trail. The area has a long history of mining and exploration, dating back to the early 1890s when gold was discovered at Rossland. Production from the Rossland district totaled approximately 5,600,000 tonnes of ore with an average grade of 14.7 g/tonne gold, 15 g/tonne Ag and 1% copper.

BC Minfile documents seven mineral showings on the property: Cam (082FSW 361), Ural (082FSW157), Red Point (082FSW366), Vinon (082FSW365), Stemwinder (082FSW363), Norway (082FSW120), Little Giant (082FSW364), and Sovereign (082FSW362) which occurs on a crown granted claim within the Red Point property block. Several other showings occur immediately west of the Red Point claims.

The following is a list of the significant work completed on the project:

  • 1984: Sampling of a small vein on the Ural property returned assays of 24 g/tonne gold.
  • 1988 Tobex Resources began an extensive exploration program on the northwestern partof the Red Point claim area. This work included locating and sampling many of the older showings, a soil survey, an airborne EM-magnetic survey, and 14 diamond drill holes.
  • 1997: Loumic Resources Ltd. drilled 6 holes, which confirmed and extended the presence of gold detected from the 1988 drilling. Considerable intersections of low-grade mineralization, in addition to the thinner higher grade intersections, led to Loumic’s exploration model and targeting Red Point as a bulk tonnage deposit.
  • 2006: Klondike Gold Corp. exploration programs included prospecting, sampling, a soil geochemical survey, a helicopter-borne Aerotem electromagnetic and magnetic survey and five diamond drill holes.
  • 2007 Klondike Gold Corp. drilled 6 holes in the northern part of the Red Point claim group targeting a widespread coincident gold and copper soil anomaly.

Photo Gallery - BC

Trygve Hoy-14

Trygve Hoy 14


Trygve Hoy-7

Trygve Hoy 7



Trygve Hoy-3

Trygve Hoy 3


Trygve Hoy-1

Trygve Hoy 1