The GDR property is a group of three license blocks covering a total of 3073 ha (road / dirt track accessible) located just north of the BC-Yukon border approximately 20km east of Rancheria, a settlement at Mile 710 on the Alaska Highway. The southern most licence, Veronica is 10km north east of Coeur D’Alene’s 26.5-million-ounce high grade Silvertip silver-base metal mine. Silvertip was subject of a $250 million take over in 2017 and is expected to boost Coeur’s silver equivalent output by 22% by full production (Coeur company information). Silvertip has 26.5 million ounces of silver in the measured and indicated category and 5 million ounces in inferred resources.
The GDR property is hosted in Paleozoic sediments with excellent potential for high-grade Ag-Pb-Zn carbonate replacement deposits (CRD) similar to the nearby Silvertip Mine. To date, first pass exploration has been conducted on the property including most recently, 342 soil samples and 24 rock samples collected in 2015 and 2016, all returning anomalous results across all 3 blocks, MR, Veronica, and MFW. Highlights of each are the following.
From 1981 to 1986 the MR property was explored by Regional Resources Ltd with gridding, mapping and prospecting, soils, gravity, EM and IP geophysics, trenching, pitting, drilling and road building. Recent bedrock grab sampling (2015 and 2016) from a 0.5 m wide vein structure returned up to: 936 g/t Ag (27.3 oz/ton), 1.3 g/t Au, 32% Pb, 0.9% Zn, 0.47% Sn, and 360 ppm In
In the earlier work (1981 to 1986) South Zone areas 1 to 4 were cat trenched and/or drilled to explore a series of carbonate-hosted, zinc-oxide prospects. The best historic results were:
South Zone Area 2:
Trench 23 3 m @ 6.55% Zn, 4.0% Pb
Trench 11 20 m @ 5.05% Zn, 1.97% Pb, 3.4 g/t Ag
Trench 20 0.5 m@ 10.8% Zn, 2% Pb, 6.5 g/t Ag
DDH 86-12 6 m @ 3.4% Zn, 4.4% Pb
DDH 86-15 1.0 m @ 2.4% Zn, 0.56% Pb
South Zone Area 3:
Trench 1.5 m @ 8.8% Pb, 51.4 g/t Ag
Trench 9.0 m @ 5.5% Zn
DDH 86-20 4.0 m@ 4.1% Zn, 0.1% Pb, 6.9 g/t Ag
And 3.0 m@ 4.2% Zn, 25.7 g/t Ag
2015 and 2016, the Veronica soil anomaly 450 by 450 m in size (open to east) was defined with values of up to 31.1 ppm Ag, 3100 Pb, and 612 ppm Zn. This anomaly has not been trenched, drilled or explained by prospecting.
At the Stollery barite prospect, high Ag, Pb and Zn values are associated with quartz veins cutting shales. Soil values range up to 8.67 ppm Ag, 2780 ppm Pb, 2500 ppm Zn, 2080 ppm As, and 17.8 ppm Sb.
The MFW block includes the Meister Farwest target, which was explored by soil sampling in the mid 1980s. A discontinuous, 1500 m-long Ag-Pb-Zn anomaly (up to 19 ppm Ag, 3600 ppm Pb, 1050 ppm Zn) was defined. Fe-and Mn-oxide float was located by prospecting, but trenching failed to reach bedrock and the anomalies were not explained.
2016 soil sampling confirmed the historic anomaly with 14 of 61 soils returning >2.0 ppm Ag, with a high of 17.95 ppm Ag, 348 ppm Pb, 1060 ppm Zn, 143.5 ppm As and 10.65 ppm Sb, suggestive of Silvertip-style, argentiferous galena and sulphosalt mineralization that has not been drill tested.