Clear Creek

Overview

  • Clear Creek Property Location
    Clear Creek Property Location

Property Location

The road accessible Clear Creek Property is located in the Dawson Mining District, approximately 110 km southeast of Dawson City, 60 km southeast of the Brewery Creek Mine and 60 km southwest from Victoria's Eagle Gold Deposit.

Target Deposit Type

Clear Creek hosts an intrusion-related gold system style mineralization associated with the Cretaceous Tombstone Suite plutonics in several distinct zones, separated by kilometers. Gold mineralization occurs in broadly disseminated zones, skarns, sheeted veins and breccias.

Background

The property which was optioned to Golden Predator ("GP") in December 2009 (and subsequently returned to Victoria in 2012) initially consisted of 77 quartz claims. Over the course of GPs' 2 years of work, the Project was expanded via staking and an area of interest clause to its current 233 contiguous quartz claims of ~4,500 hectares. Victoria Gold now holds 100% of all these mineral claims which comprise the Clear Creek Project.

The property has two distinct underlying royalty agreements, each of which requires annual cash payments to maintain the claims.

Property Geology and Mineralization

The Clear Creek project is an intrusion-related gold system within the Selwyn Basin. The project covers the headwaters and upper drainage of Left Clear Creek, which has historically produced 129,000 oz Au since 1949. Mineralization is hosted within and adjacent to Tombstone age (~92 Ma) diorite, granodiorite and quartz monzonite stocks and comprises sheeted quartz veins within the stocks (e.g. Rhosgobel/Juno) and metamorphosed Hyland Group rocks (e.g. Josephine), silicified shear zones (e.g. Contact) and breccias (e.g. Bear Paw). Mineralization appears to coincide with the Tombstone High Strain Zone (THSZ), which cross cuts the Clear Creek property. The THSZ is considered a significant influence to mineralization at Dublin Gulch. Gold mineralization is generally associated with arsenopyrite in quartz veins and correlates with bismuth.

Exploration

The prospecting history dates back to the early 1900s, with modern exploration efforts commencing in the late 1970s. Bema Industries, working on contract from Canada Tungsten Corporation, was the first company to recognize potentially significant gold mineralization in 1978. Since this initial effort, various companies have conducted limited campaigns including programs by Gold Rite Mining Corp., Noranda Exploration Ltd., Ivanhoe Goldfields Ltd. /First Dynasty Mines Ltd., Kennecott Canada Inc., Newmont Exploration Limited, Redstar Resources Corporation, and StrataGold Corporation (now Victoria Gold Corp.).

Following up on results by previous explorers, Noranda Exploration Ltd. conducted extensive soil and rock chip sampling, ground geophysical surveys, trenching, road building, and a six hole reverse circulation ("RC") drilling program in 1991 and 1992. Two holes drilled on each of the Eiger, Saddle, and Pukelman stocks for a total of 654 m.

In 1995, Kennecott Canada Inc. completed drilling, soil sampling and 320 m of bulldozer trenching. The 27 hole (1971 m) RC program on the Rhosgobel stock identified an east-west trending zone 1200 m long, 200 m wide and 65 m deep.

In 1998, Newmont Exploration Limited conducted magnetic and radiometric airborne geophysical surveys. Interpretation of the data by Newmont suggests that the Eiger, Saddle, Josephine and Pukelman stocks may be part of a single larger intrusive body, and the Rhosgobel and Far stocks are themselves a separate body.

Historic drilling by Redstar Resources Corporation on the Bear Paw Breccia Zone included two diamond drill holes totaling 219 m in 1999; and nine HQ-diameter diamond drill holes totaling 1,211 m in 2000. The best result of the Bear Paw Breccia zone was 2.3 g/t Au over 31.8 m in Hole BP00-10.

In 2006, StrataGold Corporation conducted a detailed trenching and soil sampling program on the Bear Paw Breccia and Contact zone (and also the Barney zone which lies west of the current claim configuration). In addition, infill sampling was conducted to follow-up on geophysical and historical gold anomalies identified by previous explorers.

Past explorers have identified several zones of Au-As┬▒Bi anomalism on the property, of which seven have been drilled with varying degrees of effectiveness since the 1970's. The bulk of GP's 2010-11 exploration efforts focused on the Bear Paw and Contact zones. Drilling has encountered both thick, low-grade zones (e.g. 42.68 m of 1.87 g/t Au from 1.52 m, CC10-07, Bear Paw), and narrow high-grade zones (e.g. 1.52 m of 137.50 g/t Au from 3.05 m, CC10-22, Contact). Best results from the three main zones are tabulated below.

  • Drill Hole Results table
    Drill Hole Results table

GP's 2010 program included drilling 42 holes for a total of 3,662.4 m (Holes CC10-01 to CC10-04 were HQ oriented Diamond holes - 1,053.7 m.; and CC10-05 to CC10-42 R.C. holes for 2,588.91 m.) The Bear Paw, Contact, Saddle and Josephine Zones were targeted during this program with gold mineralization identified on all except the Josephine.

The 2011 exploration program included drilling 18 HQ diameter diamond drill holes, for a total of 3,629.4 m, and a soil sampling program consisting of 1,026 samples. Four diamond drill holes (CC11-043 to CC11-046) were completed at Contact and 14 diamond drill holes (CC11-047 to CC11-060) were completed at Bear Paw. All 18 drill holes encountered gold mineralization.

At Bear Paw, the 2011 program was designed to infill and expand the envelope of mineralized breccias tested in the 2010 drilling program. The Contact drilling program was designed to further test the mineralized sheeted vein system drilled in 2010.

A total of 1,026 soil samples were collected over the property during the program. Results expanded an intriguing >100 ppb Au geochemical anomalies along the Saddle -- Josephine trend.

All told, GP spent and applied approximately $650,000 in on the ground exploration expenses on the Clear Creek Project from 2010-2011.

Conclusions and Recommendations:

The exploration work conducted by GP in 2010-2011 was successful in pulling together (for the first time) a cohesive and enlarged mineral exploration claim package at Clear Creek. The exploration efforts were also successful in defining and expanding anomalous gold mineralization on 2 of the known mineralized zones within the Property.

The existence of anomalous gold mineralization throughout the Property has been validated by focused and competent mineral exploration, and has served to highlight the exploration potential of the Clear Creek Project.

Victoria intends to test this project's mineral potential through a systematic, property-wide exploration effort including extending existing geochemical grids and targeted ground-based geophysical surveys followed by exploration drilling.

Content on this page has been reviewed and approved by Paul D. Gray, P.Geo., Victoria Gold's Qualified Person with respect to the Clear Creek Project.

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