The Bald Eagle Silver Property consists of three mining claims covering approximately 1,013.58ha area in Alberni Mining Division, British Columbia
First Energy Metals is pleased to announce that it has entered into a purchase agreement with Geomap Exploration, a private Corporation registered in British Columbia, Canada, to acquire a silver gold exploration property located in the Province of British Columbia, Canada. Pursuant to a property purchase agreement (the “Purchase Agreement”) between the Seller and the Company, dated August 10, 2020, First Energy will acquire a 100% interest in the Bald Eagle Silver Property (“the Property”) consisting of three mining claims covering approximately 1,013.58 hectares area in Alberni Mining Division, British Columbia, Canada by way of issuing 550,000 common shares of First Energy, Geomap Exploration will retail a 2% NSR of which First Energy may purchase half (1%) of the NSR.
Bald Eagle Property is located 30 km to the northeast of Ucluelet and approximately 57km by road west of Port Alberni in the west coast of Vancouver Islands, on NTS map 092F013. The Port Alberni-Tofino paved highway runs 800m east of the property. It has an ideal location for shipping potential mineral concentrates by ocean freight to any destination in the world.
Geologically, the area is underlain by Karmutsen Formation volcanics of the Upper Triassic Vancouver Group, which have been intruded by the Early to Middle Jurassic Island intrusions consisting of granodiorite to quartz diorite. The quartz veins are a few centimetres to two meters in width with patches of pyrite, pyrrhotite and chalcopyrite. Tertiary silver- and gold-bearing quartz-sulphide veins are found primarily along faults within the area.
There are four mineral occurrences on the Property as documented in MTO database of BC Ministry of Mines records as Minfiles.
Kristen Occurrence: (1987-89) Golden Spinnaker Minerals optioned the property and completed programs of trenching, VLF-EM surveys and diamond drilling. In 1988 bulk sampling and fourteen diamond drillholes, totalling 819 metres, was completed on the Elite 1 vein and nearby Rachel vein. In 1991, Kancana Ventures optioned the property. From 1993 to 1995, the property was returned to and later prospected by K. Gourley. In 1993, chip sampling of the Kristen I vein assayed values up to 4.4 grams per tonne gold and 126.5 grams per tonne silver. In 1995, sampling of the vein assayed up to 9.8 grams per tonne gold and 31.5 grams per tonne silver (Assessment Report 25493). At Elite 1 Vein area disseminated pyrite occurs in bleached and silicified rock with irregular quartz lenses and pods; rock samples from here assay up to 0.508 oz/ton gold across 110 cm (Assessment Report 18218).
Bald Eagle Occurrence: Area was part of the same work program in 1987-89 by Golden Spinnaker Minerals. Mineralization is in 0.05 to 0.60 metre-wide quartz and/or calcite veins occurring in a quartz diorite rock and containing lenses of pyrite and pyrrhotite. In 1995 a 0.10 metre chip sample from this occurrence assayed 8.3 grams per tonne gold and 35.2 grams per tonne silver.
Frog Creek Occurrence: Area was part of the above-mentioned work program in 1987-89. In 1995, a 0.20 metre chip sample returned values of 2.6 grams per tonne gold and 2.7 grams per tonne silver (JK-167; Assessment Report 25493).
The Falcon occurrence: is located on the northern slopes of Hidden Peak at approximately 950 metres. Locally, a mineralized zone, striking 300 degrees and dipping 40 degrees southwest within altered volcanics, contains disseminated pyrite, chalcopyrite and minor galena and native copper. In 1984, Torhsen Energy Corp. completed a program of rock sampling and geological mapping on the area as the Falcon claim. A 30 centimetre channel sample of the zone assayed 0.37 per cent copper, 0.156 per cent zinc and 3.1 grams per tonne silver (Assessment Report 12769).