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BC Projects
- Capoose
- Davidson
- 3Ts
- Chuchi North
Yukon Projects
- White Gold Area
- Boulevard
- Prospector Mountain
- Keno
Ontario Projects
- Slate Falls
- Minnitaki
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September 01, 2010
Silver Quest Increases Boulevard Property, Yukon
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August 27, 2010
Silver Quest Closes $8 Million Private Placement
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Boulevard
The Boulevard property represents a new high grade gold discovery in an historic placer gold district. In July 2009, Silver Quest acquired the property from Rimfire Minerals and Northgate Resources. The new high grade gold discovery was made by Rimfire and Northgate during a trenching program to investigate a 1.2 km by 0.4 km gold-arsenic-antimony soil geochemical anomaly. Mineralization was discovered in two trenches, 1.5 m below surface. Mineralization does not outcrop and no prior gold showings exist on the Boulevard Property.
LOCATION Boulevard lies 135 km south of Dawson City, Yukon and 35 km south of Underworld Resources' new Golden Saddle discovery at their White Gold property. Access to the property is by helicopter. |
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Size
The Property consists of 238 contiguous mineral claims covering a total area of 4,950 hectares
Ownership
Silver Quest can earn a 100% interest in the Boulevard Property by making cash payments totalling $200,000, issuing 1,000,000 shares and completing work expenditures of $3,000,000 over a five year period. The property will be subject to a 2% NSR, which the company has the option to purchase 0.5% of for $750,000.
Target and Potential
Boulevard is a new discovery in a region with numerous placer gold deposits but relatively few hard rock gold occurrences. The discovery of high-grade gold mineralization 1.5 metres under a cover of soil and ash highlights the potential for the area to host gold-bearing mineralization under cover elsewhere on the property. At this point, two kilometers of prospective trend has been identified by soil geochemical surveys completed by Rimfire and Northgate. The Boulevard gold, arsenic, antimony-in-soil anomaly remains open ended with potential for expansion.
Geology
The Boulevard claims are located within the Yukon-Tanana terrane. The property is underlain by undivided metamorphic rocks of the Nasina sub-terrane, which was later intruded by a northwest-to southeast-trending plutonic suite known as the Dawson Range plutonic belt. The Dawson Range is part of a suite of plutonic rocks in the northern Cordillera that is associated with intrusion-related base and precious metal deposits.
Gold mineralization is hosted in strongly sericite plus/minus clay-altered schists with disseminated pyrite, arsenopyrite and stibnite. Sulphide mineralization is finely disseminated in the wall rock of quartz vein arrays or occurs as massive sulphide veins within the arrays. Mineralization-hosting quartz vein arrays follow regional northwesterly structures along major contacts between lithological packages.
The Boulevard area was selected from a much larger regional compilation and reconnaissance silt sampling program that led to the identification of anomalous gold and pathfinder elements in creeks draining the Boulevard.
Maps & Figures
Property Holdings in the
White Gold Area
White Gold Area
Property Location Map
Property Geology and Results
News Releases
| Date | News Release |