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GOLD WIN VENTURES INC.
400-1200 WEST PENDER STREET
VANCOUVER, BC V6E 2S9
PHONE: (604) 684-6599
FAX: (604) 684-6345
E-mail: farrage@gwv-v.com
NEWS RELEASE
JUNE 13, 1997
To: Mark Shrigley From: mshrig@cyberbeach.net
Gold Win Ventures Inc.
The following report is prepared for Gold Win Ventures Inc. by John H. Harper, property consultant to Gold Win Ventures Inc. Mr. Harper is solely responsible for the contents of this report and has deemed his sources of material to be reliable and believes the following report to be an accurate and conservative description of Gold Win Ventures Yeti North group of Claims.
The following summary does not include placer gold potential at the junction of QUATTRIN Creek and YEHINIKO Lake and the junction of YEHINIKO Creek and YEHINIKO Lake. These will be discussed in a later report.
Summary of Yeti Claims
(Northern Group)
"Very rich sections of quartz-carbonate veins in volcanic rock, containing in places, coarse, visible, native gold have been found on the property."
Work done to date on the Yeti Claims (Northern Group) indicate high gold and copper values over a very wide area, at least 1200 meters x 1600 meters.
A total of 498 rock, 931 soil and 39 silt samples have been collected and most analyzed for a wide range of elements. Values have been found for copper, gold, silver, lead, zinc, cobalt, nickel, chromium and palladium (one of the platinum group metals).
"The mineralization occurs over a wide area as structurally controlled quartz - carbonate veins that tend to pinch and swell. These are usually recognized as linear zones of pervasive quartz - carbonate alteration, barren stockwork veins are the most evident forms of deposits."
These deposits are commonly associated with shear zones related to regional fault systems, and probably develop at depth.
Fracture filled veins such as on the Yeti are usually pear shaped, formed under or filled under medium to high pressure. Mesothermal veins commonly have several hundred feet to occasionally a few thousand feet of vertical height.
The best mineralization is found within volcanic rocks adjacent to the western side of the intrusion.
According to Blann, a large pipe - like, copper-gold stockworks and breccia body and long, continuous high grade gold veins may occur within the volcanic rocks above the intrusive. Gold values are generally elevated in volcanic rocks beyond the intrusive contact. West of the intrusive contact, quartz vein sulfide mineralogy, locally with coarse native gold, occurs. This intrusion itself; however, appears to be gold - poor, suggesting a "gold zone" exists out board of the intrusive contact.
This suggests that the gold/copper mineralization has flowed along faults and/or intrusives or intrusive dykes which could explain the large number of infill rock fracture veins over a large area directly related to the regional fault systems.
This summer's exploration and drill program will test some of these veins, intrusives and gold bearing structures. As we will be drilling into known vein structures we are anticipating favorable results from several veins such as the "Crow".
The following is a summary of the sampled vein structures on the Yeti North Group of Claims as compiled by Dr. A.B.L Whittles - Ph.D., P. Eng. of Geonics consulting services LTD.
Veins on the Yeti Property
Vein Characteristics, Alteration and Metallic Mineralization
The majority of copper and gold values associated with shears and quartz - Carbonate veins occur within an area approximately 1,600 meters (N to S) long by 1,200 meters (E to W) wide. It is bounded to the south by a dominantly pyritic zone (GZII) and to the east by the tonalite and ultramafite intrusions.
The veins range in size from 1 mm to occasionally over 1 meter in width , with an average width between 5 and 50 cm. The quartz veins are clear to milky white in color frequently drusy and cockscomb, with weak, highly angular breccia fragments.
Alteration includes silicification, and clorite - epidote to quartz - K - feldspar alteration with associated quartz - carbonate veins, stockworks, and breccia with tan colored ankerite - limonite alteration.
Minerals occurring within the veins and shears include pyrite, chalcopyrite, bornite, sphalerite, and galena. Chalocite was noted within bornite - rich shears hosted by the intrusion near the Pass. Vein mineralogy varies from those clearly with galena and those clearly without, both types may contain high gold values, and occur together in the same areas. The number of veins located to date galena and sphalerite are relatively low compared to those with pyrite and chalcopyrite.
Moderate quantities of silver, arsenic, antimony, bismuth, and cadmium occur with galena, sphalerite, pyrite, and chalcopyrite from the Comfort Zone to the Wolf Zone and westward.
Pyrite with minor pyrrhotite occurs locally up to 10 to 15% within sheared volcanic and intrusive rocks at the south and east of the property.
BLIZZARD ZONE
Ostensoe (1990): this author's sampling within this zone is not clear , he must have been close to the Crow Vein with some samples, but the vein directions given do not appear to be the same. The Ostensoe data seems to scale and plot slightly to the north of the "Crow Vein" of Blann (1992), but these two may have been sampling the same vein. One could only tell by going onto the ground in any case, they are independent samples, even if of the same vein.
Blann (1992): the Blizzard Zone consists of a series of near parallel, drusy, cockscomb, and vuggy quartz and quartz - carbonate veins and breccia that pinch and swell from 2 cm to over 1 meter in width. There is moderate continuity of the veins along strike. The "Crow Vein" has an orientation of 030 - 040 / 40 - 90 east , and was sampled and traced for approximately 200 meters in length and widths from 10 cm to 1.2 meters. Within 10 - 20 cm of the vein - wall contact, quartz stockworks and strong chlorite - epidote - quartz alteration occurs. Chalcopyrite pyrite mineralization, commonly with Bornite, occurs with quartz veins and siliceous shears.
Cuttle and Mowatt (1996): these authors consider that the next step is to test drill the Crow Vein. A number of warnings are given by these authors; in summary, logistically difficult to work, rugged topography, high costs, veins pinch and swell along strike, and most likley down dip as well. Their summary recommendations are:
"Detail the logistics of drilling the Crow Vein by first sampling the 200 meter long vein on 5 to 10 meter centers and confirming previous mineralized samples such as sample 92K- 07 which returned values of 14340 ppm Cu and 74,000 ppb Au over a width of 0.25 meters, this should be done with the aid of professional climbers. If rock chip assays are constantly in the range of 0.5 opt Au or greater, the next step is to spot 4 initial drill platforms, identify all the possible sources of water for the drill and its hydraulic lift, and a central helipad location."
Base Metal Summary:
Ostensoe (1990): K12: grab sample, in 15 cm fractured quartz carbonate vein, 27,244 ppm (27%) zinc, 0.2% copper. High copper values at various nearby sites were 9249 ppm (0.9%), 26299 ppm (2.7%), 19874 ppm (2%), 22806 ppm (2.2%), 26299 (2.6%), 10276 (1%), 16990 ppm (1.7%), 10375 ppm (1%).
Blann (1992): the Crow Vein high copper values were 8906 ppm (0.9%), 9887 ppm (1%), and 14, 340 ppm (14%) across 1 meter. Where devoid of sulfides, the Crow Vein returned 92 ppm copper.
Precious Metal Summary:
Ostensoe (1990): K02: grab sample 1 meter wide intensely fractured and choritized quartz - carbonate vein, with 41,200 ppb gold (1.2 opt).
K12; grab sample, native gold visible on surface, in 15 cm fractured quartz - carbonate vein, gold 15,100 ppb (15 opt), and 697 ppm silver.
All the following are high gold grab samples from same area as K12; K28; 131840 ppb (fire assay gave 4.4 opt), K26; 19640 ppb (0.6 opt), K27; 26860 ppb (0.8 opt), K25; 43350 ppb (1.3 opt), K13; 24600ppb (0.7 opt).
Blann (1992):gold results from the Crow Vein include 13.184 ppb (0.38 opt), 35,000 ppb (1.02 opt), and 74, 000 ppb (2.16 opt). Where devoid of sulfides, the Crow Vein returned 62 ppb gold.
COMFORT ZONE
Blann (1992): the Comfort zone lies to the west of breccia - quartz stockworks and serpintine - talc at the south end of the Main Zone. This area is near the intrusive contact. Numerous quartz and quartz - carbonate veins and limonite - ankerite shear zones occur in a variety of attitudes. A 3 m ankerite - limonite shear zone trending 040o contains pyrite, sphalerite, and galena.
Cuttle and Mowatt (1996): found this zone to be very steep and only sampled two narrow, well spaced, discontinuous veinlets. Found local Chalcopyrite, malachite, and gold in small, inconsistent (< 2 m) carbonate altered shear zones. Bearings were 015 to 025. Dips steep to east if not vertical the mineralization may extend over 5 m in length but commonly pinch and swell into unmineralized zones of alteration. Note that more prominent mineralization may exist on the SW side of this zone but this group was not able to reach that area.
Copper Summary:
Blann (1992): values of 5255 ppm (0.5%), and 5858 ppm (0.6%).
Cuttle and Mowatt (1996): found two samples that "added to the list of impressive Cu results."
Gold Summary:
Blann (1992): values of 1060 ppb (0.03 opt), 1350 ppb (0.04 opt), and 6555 ppb (0.2 opt) were obtained.
EAGLE CREEK ZONE
Blann (1992): this zone includes the lower west side of the Main Ridge, from the Comfort Zone to the Blizzard Zone. Quartz - carbonate veins and shears containing pyrite, chalcopyrite, and locally bornite sphalerite, and galena occur within silicified, chlorite - epidote, and locally K - feldspar altered volcanic rocks.
Copper Summary:
Blann (1992): copper high samples were 3783 ppm (0.4%), 4118 ppm (0.4%), 4393 ppm (0.4%), 6696 ppm (0.7%), 6947 ppm (0.7%), and 2.2%.
Gold Summary:
Blann (1992): high gold values were 3660 ppb (0.1 opt), and 4540 ppb (0.13 opt).
MAIN ZONE
Sivertz (1991): found widespread structurally controlled gold and copper mineralization in many quartz carbonate veins, stockworks, and shear zones over 300 by 600m. Veins were NW, E, NE in direction, and a few cm to 1.5 m in width, with abundant limonite after pyrite (moderately to extremely gossaneous), sericite, carbonates, chlorite, malachite, chalcopyrite and azurite. The veins were also vuggy.
Blann (1992): examined the Main Zone that lies along the immediate east side of the Main Ridge, extending from the Comfort Zone to the Pass. Within this area, ankerite - limonite gossans trend obliquely across the east slope, these gossans contain quartz - carbonate veins, and breccia, with pyrite, chalcopyrite, and locally sphalerite and galena. Wallrock alteration consists of chlorite - epidote - quartz and K - feldspar, with ankerite - limonite staining Gypsum or anhydrite was noted occasionally. An east trending vein near the north end of the Main Zone and west of the Pass, appears to be from 1.5 to over 2 meters in width, and shows good vertical continuity for at least 50 meters, however, a large bergschrund prevented close investigation. Other veins pinch and swell but some remain consistent in width for 20 - 30 meters.
Cuttle and Mowatt (1996): These authors consider this the most encouraging area investigated by this group. Sampled brownish orange carbonate zones stretching over 400m, and perhaps 150 meters wide, that had intermittent copper - gold enriched quartz carbonate veins, These are considered to be the continuation of the veins from the Comfort Zone. The veins do widen to 4 meters but commonly pinch and swell at lesser widths, some are well mineralized with chalcopyrite, malachite, pyrite and manganese. One vein in this Main Zone was over 95 m long. (This vein is actually longer than this, as one end was buried under loose talus rocks). The vein was sampled every 10m with 3 chip - channel samples at each site: a 1 meter sample on the foot wall, a sample the width of the vein at that location, then a 1 meter sample of the hanging wall. The vein pinched and swelled from about 6.5 cm to 117 cm. with an estimated average of 30 - 40 cm.
Copper Summary:
Sivertz (1991): grab samples of 5484 ppm (0.5%), 6909 ppm (0.7%), 14588 ppm (1.5%), 21136 ppm (2%), 23733 ppm (2%), 29762 ppm (3%), 30317 ppm (3%), 42875 ppm (4%).
Blann (1992): chip sampling was oriented to check for a variety of structures within a limited area of the Main Zone. Chip and grab sample high values of 4989 ppm (0.5%), 8220 ppm (0.8%) and 19433 ppm (1.9%) copper, over widths of up to 1 m.
Cuttle and Mowatt (1996): had three vein samples return copper values of over 10,000 ppm (>1%). Numerous samples were "also highly anomalous". One 1 m wall rock sample gave 1381ppm (0.14%).
Gold Summary:
Sivertz (1991): grab samples of 2267 ppb (0.06 opt), and 24390 ppb (0.7 opt)
Blann (1992): 9420 ppb (0.28 opt), 34,000 ppb (0.99 opt), and 36,000 ppb (1.05 opt)
Cuttle and Mowatt (1996): highest value was 3780 ppb (0.1 opt)
NORTH RIDGE
Cuttle and Mowatt (1996): found that a quartz and carbonate stockwork occurred over an area of approximately 100 meters. This dipped steeply to the west and was believed to be the result of hanging wall alteration from a nearby diorite dyke. Although the authors noted "this environment of lower grade "listwanite" type alteration is ideal for gold mineralization" only very minor chalcopyrite was observed.
OK ZONE
Ostensoe (1990): this zone occurs in the extreme northwest of the Yeti Claim Group on the west side of Quattrin Creek. It was so named by the present writer for the early work of Ostensoe (1990) and Kushner. No other authors have examined this zone.
Samples:
F14: chip sample: 5508 ppm copper (0.6%)
Q10: grab sample; 2m chloritic and epidotic zone with, with malachite and sulfides
12664 ppm copper (1.3%), 5170 ppb gold (0.15 opt)
Q11: grab sample; 20 cm zone chloritic and epidotic zone, with malachite and sulfides
19512 ppm copper (2%), 14 ppm silver, 3030 ppb gold (0.1 opt)
Q12: grab sample; 50 cm zone chloritic and epidotic zone, with malachite and sulfides
19935 ppb copper (2%), 12 ppm silver
Q15: grab sample; 16541 ppm copper (1.7%)
X16: grab sample; 25 cm carbonate veinlet with malachite, pyrite, and chalcopyrite
12701 ppm copper (1.3%)
Q17: grab sample: 8464 ppm copper (0.8%)
Q20: grab sample ; 30 cm quartz vein with massive chalcopyrite pods, K - feldspar all
>99999 ppm copper (>19%), 1130 ppb gold (0.03 opt)
POST ZONE
Ostensoe (1991): this zone has been named by the present writer as it is near to the Claim posts of Yeti 4, 5, 6, and 7. No other authors have examined this zone.
Grab sample copper high values are 7437 ppm (0.7%), 9253 ppm(0.9%), 18369 ppm (1.8%).
WOLF ZONE
Cuttle and Mowatt (1996): found intense but somewhat limited quartz carbonate stockwork, from <1 m to 2m wide, generally barren of visible sulfide except minor malachite and disseminated chalcopyrite.
Several reports - including a 50 page summary report on the YETI NORTH group of claims are available on the Gold Win Ventures web site: gwv-v.com or in our office.
For further imformation please call Mark Collett or John Ulmer:
Toll-Free 888-684-6345 or 888-684-2987 |
