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Gold Creek

Gold Creek

British Columbia, Canada

The 100% owned Gold Creek project (“Gold Creek”) consists of 34 claims totaling 9,673 hectares. It is located two km north-east of the town of Likely with access to the project by an all-weather gravel road. The project has well developed infrastructure and is just 70 km north-east of Williams Lake, a major regional centre serviced by an airport and railway.

Gold Creek 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: ODV) to the northwest and the Spanish Mountain project owned by Spanish Mountain Gold Ltd. (TSXV: SPA) to the southeast.

Refer to the Exploration Highlights page for more details on the Gold Creek exploration programs.

2021 Exploration Program

A total of 1,389 meters in five diamond drill holes was completed at Gold Creek in 2021, including hole GC-21-049 that returned 0.74 grams per tonne (“g/t”) gold over 46.4 m within a broader envelope of gold mineralization of 0.49 g/t gold over 80.65 m. 

For more details refer to January 19, 2022 press release: Karus Gold Drills 80.65 meters of 0.5 g/t gold at Gold Creek Project.

Based on this drill program the Company is confident that gold mineralization at the Camp Zone is contained within a corridor that strikes northwest and dips approximately 60-70 degrees to the northeast. The Camp Zone has been traced through wide-spaced drilling for ~1,000 m along strike and to a depth of ~280 m below surface, ~250 m down-dip. Gold mineralization at the Camp Zone lies to the northwest and along trend of the Spanish Mountain deposit.

Table of significant drill results

Drill Hole From To Interval Au Grade1,2
  (m) (m) (m) (g/t)
GC-21-049 101.6 182.25 80.65 0.49
including 112.9 159.3 46.4 0.74
GC-21-048 193.4 266.75 73.35 0.44
including 223.2 251 27.8 0.83
GC-21-047 180.4 228.5 48.1 0.31
GC-21-046 215.1 261.33 46.21 0.42
including 242.9 257.78 14.88 0.64
GC-21-045 186.7 228 41.35 0.49
  206.6 219.15 12.55 1.06
  1. Karus Gold has not been able to determine true width yet due to complexity of the vein structures within the mineralized zones. The 2021 drill program was designed to better understand the geometry and how the mineralized zones are related. The orientation of individual quartz veins within the mineralized zones are quite variable. Reported widths are drill indicated core length and not true width, for the reasons above. Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.
  2. Composites are calculated using a 0.1 g/t Au cutoff, incorporating no more than 7 m downhole dilution. Higher grade composite sections are calculated using a 1 g/t and 3g/t cutoff incorporating no more than 5 m downhole dilution.

2020 and earlier Exploration Programs

Drilling in 2020 completed an initial test of the 1,000 m long gold in soil geochemistry anomaly that defines the Camp Creek zone.  In total, five holes totaling 1,530 m were drilled with drill holes GC-20-42 to GC-20-44 tested 400 m of strike potential south-east of previous drilling.  All three holes intersected anomalous gold mineralization, including:

  • 11.8 m of 0.63 g/t gold beginning at 153 m down hole in GC-20-42
  • 24.9 m of 0.44 g/t gold beginning at 151.7 m down hole in GC-20-43

Drill holes GC-20-40 and GC-20-41 were drilled outside of the Camp Creek trend and intersected anomalous silver-base metal mineralization.

In 2018, a compilation of historical drilling, soil sampling, and geophysics indicated that gold mineralization is closely correlated with elevated arsenic and contained within a greywacke rock unit.  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, whose highest grades occur at the contact between the greywacke and argillites, similar to mineralization at Gold Creek (footnote 1).

From 2011 to 2017, historical drilling at the Camp Zone, based on gold in soils anomalies, confirmed large widths of mineralization in the silicified greywacke from surface with multiple higher-grade vein intercepts within a lower-grade halo. Intercepts included 1.5 m of 13.4 g/t (GC11-27 10.7 m to 12.2 m), 9 m of 5.5 g/t (GC17-34 16.0 m to 25.0 m), including 1.5 m of 18.0 g/t, and 84.65 m of 1.0 g/t (GC17-35 85.85 m to 170.5 0m). 

Footnote 1. Karus does not consider the geology, resources or potential economics of the Spanish Mountain deposit as indicative of mineralization or the economics of any such mineralization at Gold Creek.