Yukon Gold Projects
The Yukon Gold Rush
Location: Southwest Yukon Territories
The Yukon has a rich mining history and has continued to be the cornerstone of the economy from the famous Klondike gold rush of 1896 to the present day. The first reported exploitation of metals in Yukon pre-dates European settlement. The aboriginal people are known to have mined native copper nuggets in the White River area of southwest Yukon to fashion arrowheads and to trade. Prospecting for placer gold by white settlers began soon after the first reported discovery at Fortymile in 1850. The discovery of gold on Rabbit Creek in the Klondike district on August 16, 1896 sparked the world's biggest 'gold rush'. Placer gold mining remained the mainstay of the Yukon economy from the time of gold rush until the early 1920s. Following rises in the price of gold, placer mining was again important from the 1940s to the 1960s, and from 1974 to today.
Drilling in 2008/09 at Underworld Resources project in the Tintina gold belt located 95 km south of Dawson City revealed 1,004,570 indicated ounces of gold at a grade of 3.2 g/t gold in an open-pit resource at the Golden Saddle deposit at the White Gold project.
Kinross Gold subsequently made a C$139 million offer to buyout shareholders at C$2.62 per share which was completed as a friendly take-over bid in April of this year. This recent takeover of Underworld Resources further elevates potential for future exploration and deposit identification.
Yukon White Gold Projects
Numerous historic gold showings are present on the companies four separate claim blocks located in west-central Yukon. All geological/geochemical data and mining assessment reports from the Yukon Energy Mines and Resources and other private sources have been compiled.
The Armenius Gold Project (AV Claims)
The original staking was prompted by historic Yukon Minfile reports of a quartz ledge 18 meters wide and 3 to 5 km long. Preliminary results of this work established that several klippe of prospective ophiolitic rocks overlie a shale-matrix supported ophiolitic mélange unit. The nearby bedrock is being mined by placer operator. Eureka Placers Ltd., Klondike Star Minerals and Tamarack, Inc.
The River Gold Project
Previous mapping efforts indicated the presence of carbonate-altered ultramafic rocks in this region and these sequences are thought to be comparable to hanging wall rocks in the White style gold setting. An Airborne VLF-EM Radiometric and Magnetic Survey is being completed to identify areas for further exploration..
The YK Gold Project
Consists of 20 claims strategically located near the Kinross claims and H.C. Mining active placer operations. Current work program to determine existence of ophiolitic rocks and possible quartz veins that may be prevalent throughout the entire property area. The company completed a preliminary reconnaissance program which identified a number of key targets requiring additional exploration. A follow-up VLF-EM Radiometric and Magnetic Survey was subsequently completed to further define drilling targets.