Sunvest Minerals has commenced 2018 work program at the Clone Gold Property located in the BC’s prolific Golden Triangle.
Image: A gold mineral. Photo: courtesy of carlos aguilar/Freeimages.com.
Phase I exploration work, under the guidance of Ridgeline Exploration Services, of Kelowna, B.C., will consist of geochemical rock, silt and soil sampling as well as detailed geological mapping.
The current exploration program aims to generate drill targets in new glacially ablated zones surrounding the Clone and adjacent showings where Sunvest re-sampling of historic drill core returned assays as high as 30.3g/t Au over 4m. The program also aims to identify new exploration targets over a recently acquired land package to the south which shares an extended border with Goliath Resources (TSX-V: GOT) Gold Digger property.
CEO Mike England states “After a long winter and spring spent compiling historic data as well as assessing recent results we are excited to get boots on the property. Since acquiring the Clone Project last September, we have spent countless hours pouring over historic databases in preparation for this program. The team has come a long way and we now have a very solid understanding of the mineralization at Clone’s main area of interest and surrounding areas. While the historic numbers on the property are extremely impressive, we are very excited to prospect the vast areas surrounding these showings that have only recently been exposed as a result of rapid glacial ablation.”
The 2018 Phase I exploration program will be staged out of Stewart, BC. The application of a Multi Year Area Based drill permit was completed in June and the company anticipates receiving permits in the coming months. Phase I will allow the company to get boots on the ground prior to the anticipated Phase II drill program.
Clone Project
Discovered in 1995, Sunvest Minerals’ principal mineralized zone at the Clone Property is located 15 kilometers south of IDM’s Red Mountain Deposit. High-grade gold mineralization at the Clone project is associated with earliest-Jurassic age volcanic and intrusive rocks which formed during approximately the same metallogenic event as the Premier, KSM, Brucejack, Red Mountain and Dolly Varden gold-silver deposits in northwestern British Columbia. Gold mineralization at Clone occurs within quartz-hematite/magnetite structures, with the iron oxides likely remobilized from hematite-rich andesitic volcanics that are common in the Stewart area. Recent rapid glacial retreat in the area has exposed new gossans surrounding historic showings that have not previously been prospected.
Ed Kruchkowski, P.Geo, a qualified person under National Instrument 43-101, is the independent qualified person responsible for reviewing and approving the technical contents of this press release as they pertain to the Clone property.
Source: Company Press Release