Be the first to know about Karus Gold’s latest news and developments
KORE’s 100% owned Gold Creek project is located in the Cariboo region of British Columbia 8 km northwest of the Spanish Mountain project. Gold mineralization was drilled in 2018. The project has potential for a district scale sedimentary hosted style gold deposit.
The NI 43-10 technical report on the South Cariboo Property (December 16, 2020) is available HERE.
The 100% owned Gold Creek project is adjacent to and on strike with a large, northwest-southeast trending gold-bearing zone bounded by the Quesnel River (“QR”) historic mine and mill owned by Osisko Development Corp (TSX: ODR) to the northwest and the Spanish Mountain project owned by Spanish Mountain Gold Ltd. (TSXV: SPA) to the SE. Gold Creek also sits to the northeast of Mt Polley (Imperial Metals).
Exploration targets on the Gold Creek property are gold-bearing quartz veins and gold-silver bearing strata-bound zones of quartz and carbonate-altered quartz-veins that occur in the basal, black phyllite metasedimentary and greywacke volcanic sequences. There are numerous soil anomalies on the Gold Creek property over a 12km strike length. Much of the property is covered by overburden and remains unexplored. KORE drilled anomalies in 2018 to extend the Camp Zone approximately 400m along strike. Low grade copper and gold has also been found in a highly sericite and silica altered diorite, called Zone 29. This zone borders the Camp Zone, where 2011, 2017 and 2018 drilling has focused.
The Gold Creek project is located 2km NE of the town of Likely in the Cariboo -- the heart of British Columbia's historic "Gold Rush" district. The Gold Creek project consists of 34 claims totalling 9,673 ha and approximately 8km to the NW of the Spanish Mountain deposit. Access is from Likely by all-weather gravel road. The site has well developed infrastructure and is just 70km NE of Williams Lake, a major regional centre serviced by an airport and railway. The property has several small roads that will provide easy access for drilling the claims.
The Gold Creek Property are primarily underlain by one fundamental element of the Quesnel belt - a basal, Middle to Late Triassic fine grained sedimentary unit (Nicola Group) that represents a basin-fill succession and commonly referred to as the 'black phyllite unit'. The clastic rocks are weakly metamorphosed and weakly to strongly deformed at deeper structural levels. In the eastern part of the property the rocks dip toward the southwest; in the western part, they dip to the northeast.
The Quesnel Trough in the area of the Gold Creek Property is a well mineralized region that hosts a wide variety of deposit types. The principal recent exploration and economic development targets on the property are gold-bearing quartz veins and gold-silver bearing stratabound zones of quartz and carbonate-altered quartz-veined phyllite that occur in the basal, black phyllite metasedimentary succession of the Nicola Group. The mineralization in some black phyllite members have potential to be mined as large, bulk tonnage deposits.
Gold occurs at Gold Creek in the same Mesozoic sedimentary package as at the Spanish Mountain deposit and the Company's FG deposit. The project sits in an ideal setting for sedimentary hosted vein (“SHV”) style mineralization and consists of accreted terranes with a basement containing carbonate lithologies intruded by Mesozoic or Cenozic plutonism.
Mineralization has a strong spatial relationship to both the siltstone-volcanic contact and the alteration front. Gold mineralization is hosted by deformed sedimentary rocks with interlayered volcanics, and described as of two types:
Regional Quesnel Terrane
Compilation of historic conventional soils and mobile metal ion (MMI) soil sampling has been used to focus exploration efforts on a 2km x 3km arsenic in soil anomaly. This also demonstrates the extension of the Camp Zone along an 8.5km strike with widths of up to 400m. Additionally, this work has led to the identification of a nearby hornblende diorite intrusion, demonstrating an associated resistivity and magnetic anomaly with typical “halos” in the surface representation of Au, Ag and Cu in soils. This new "Zone 29" is potentially the heat source for hydrothermal alteration in the Camp Zone and new adjacent targets.
The Camp Zone gold mineralization has been shown to both outcrop at surface and occur at shallow depths within drill holes. Early drilling suggests this deposit has the potential for a bulk mineable open pit resource as well as high grade underground development.
The higher grade gold intercepts in drill holes within the Camp Zone show similarities to the high-grade zone of the nearby Spanish Mountain Gold Deposit. A large portion of the resource and the highest grades at Spanish Mountain occur at the contact between the greywacke and argillites, similar to mineralization at Gold Creek. This zone is contained within the same stratigraphic sequence (altered and silicified greywacke) and at a similar elevation. Compilation of historic arsenic in soils (see compilation map of historic arsenic on soils below) highlights an 8.5km long NW-SE trend that is coincident with the NW-SE trending Camp Zone and recent drilling. For these reasons, KORE believes that Gold Creek has the potential to host a major gold deposit.
Gold mineralization to date has been found either within highly Fe-carbonate, sericite, and silica altered and pyritic fault zones or within fractured quartz-carbonate-pyrite veined greywacke and andesite tuff units in close proximity to larger fault zones. The strongest gold mineralization encountered to date occurs within vertical to near vertical sheeted quartz-carbonate-pyrite veins hosted predominantly within greywacke units which strike along a WNW-ESE trending zone that has currently been traced for approximately 300 metres. This zone remains open towards the east and to depth.
2017 and 2018 diamond drilling has confirmed the gold mineralized structures in the Camp zone strike E-W to WNW-ESE and extend eastward from the Poquette Valley. The 2018 drill program followed up on sedimentary hosted near surface and higher grade vertical stockwork, veins and veinlets within the lower grade halos. Drilling to date demonstrates that the Camp zone contains multiple high grade, near vertical gold rich zones which range from 1 to several metres of estimated true width. These high grade zones are contained within a similarly-oriented lower grade gold halo of typically of or greater than 5 metres true width, relatively soft, weakly metamorphosed sedimentary rock units which are believed to be amenable to common stope mine extraction techniques.**
Mineralization consists of quartz-pyrite-carbonate veins and veinlets with variable amounts of arsenopyrite, chalcopyrite, galena, sphalerite, pyrrhotite, and native gold. Where observed, native gold occurs as ≤1 mm fine-grained, free individual crystalline grains along the walls of quartz veins, on the edges of cubic pyrite crystals, with limonitic pyrite, and occasionally with galena. Pyrite is the principal sulfide mineral in the mineralization, occurring within quartz veins, in envelopes of 5-10% pyrite adjacent to quartz veins, and disseminated 1-3% in the host rock. The quartz-sulfide veins strike southeast, dip steeply or vertically, are generally sub-parallel, and occur as individual veins and as zones of stockwork. Veining and mineralization are accompanied by quartz-sericite alteration, carbonate alteration, bleaching, and silicification in the wall rocks surrounding veins and stockwork. Host rocks consist of interbedded greywacke and argillite with minor conglomerate and mudstone beds.
KORE 2018 Focus Area - Camp Zone and Prospective Porphyry Intrusive.