VICKERS TARGET

Summary

The Vickers Target is located in the Pistol Bay Corridor in the central part of the property.

Gold occurrences and magnetic anomalies (TMI) of the Pistol Bay Project

The mineralized zone of the Vickers Target is in the contact of a gabbro-diorite intrusion and a footwall sequence comprised of a mixture of epiclastic or volcaniclastic sandstones with abundant diorite inclusions or dikes. This contact trends approximately 295 degrees and dips approximately 60 to 70 degrees to the south. The mineralized zone appears to be more prevalent in the intrusion in the west and more prevalent within its footwall rocks in the east part of the Vickers Target.

Vickers Target and nearby targets on TMI

Vickers Target drill holes on geology plan map

Within the intrusion, the mineralized zone is variably siliceous and chloritic, and contains variable concentrations of pyrite, arsenopyrite and gold. The rocks are very fractured and sometimes very brecciated. The attitude of a dominant fracture and tectonic fabric cannot at this time be determined with certainty but is interpreted as either parallel to the footwall contact of the intrusion or parallel to an interpreted N060 corridor that is oblique to the intrusive/footwall contact.

Within the footwall rocks, the mineralized zone consists of variably siliceous, sericitic, and brecciated rocks with variable concentrations of pyrite, arsenopyrite and gold. A planar fabric of sericite and quartz-rich bands is prominent and also interpreted as parallel to the intrusion-footwall contact.

In brief, there seems to be a positive correlation between gold, diorite dikes, and breccia of diorite and sandstone. The width of the mineralized zone within the footwall rocks and the gold distribution are illustrated on the sections and in the drill log files.

One of the characteristics of the mineralized zone, in both the intrusion and its footwall rocks, is that rocks grading over one gram gold per tonne are in some instances interspersed with intervals of low gold concentration (sometimes below the detection limit of 0.05 ppm) up to several metres thick, even though the silicate alteration is the same. The intervals with low gold concentration generally have less diorite and are less brecciated. An interpretation is that these intervals are less permeable domains and therefore somewhat less mineralized, or alternatively, the less altered rocks may possibly be mega breccia fragments that contain less gold. The lower grade intervals are included in the weighted average gold concentration calculation because they are an inseparable part of the contact zone between the intrusion and its footwall. Moreover, there are some intervals, up to a few metres in core length, with grains of visible gold with local silicic alteration with or without attendant sulphide minerals.

In general, although there are sections of the mineralized zone that have several per cent pyrite and arsenopyrite over several metres, the overall sulphide concentration of the mineralized zone is probably less than 2%. The abundance of silica and paucity of carbonate indicate that the mineralized zone is on a high silica fluid cooling path. The paucity of quartz veins and abundance of large volumes of silicic rock, including chalcedony matrix in some of the breccias, without a dominant structural fabric, suggests that the Vickers Zone is an epizonal concentration of silica and gold. 

Summary of weighted average grade of gold in drill holes PB-12-09 to PB-12-22 from the Vickers Target, including all continuous intervals of variable average grade

Note: Intersection lengths are core lengths and do not necessarily represent the true width of the mineralized zone. Weighted average grades are calculated from assays of drill core with nominal sample lengths of 1.0 metres. The detection limit of the assay method is 0.05 ppm gold. Some of the samples within the intersected lengths reported in the table are below the detection limit and the assay value for those samples used in the weighted average grade calculation is zero.

Fourteen drill holes (3,600 metres) have been completed at the Vickers Target. In holes PB-12-09 to PB-12-22, all samples containing, or suspected of containing, coarse gold were assayed by ALS method AU-SCR21, which is a comprehensive assay method for rocks with coarse gold. The rest of the samples were assayed by fire assay with a gravimetric or AA finish. Starting with hole PB-12-13 and every drill hole thereafter, all samples were assayed with AU-SCR21. Hence, in the opinion of Northquest, the gold concentrations reported are accurate. In addition, at this early stage of evaluation, it is the opinion of Company management that the database of assays is insufficient to obtain a robust and valid statistical interpretation of grade distribution in the rocks. Accordingly, no top cut has been applied to the highest assays.

The Vickers Target varies from approximately 50 to 160 metres wide in the drilling sections. The drill holes have intersected the mineralized zone over a strike length of 200 metres and the deepest pierce point is in PB-12-11 at a depth of approximately 300 metres.

The drilling sections from east to west are set out below.

 Section 8800 W

Section 8825 W

Section 8850 W

Section 8875 W

Section 8900 W

Section 8925 W

Section 8950 W

Section 9000 W

Plan of future exploration work

It is anticipated that additional drilling will be completed on many of the drilling sections at the Vickers Target. In addition, the first exploration drill holes will be completed at the V2 Target, 200 metres south of the main Vickers Zone, and at any targets that are generated in a high resolution IP/resistivity survey that is expected to be completed in 2013.

Location of the V2 Zone on geology plan map and location of initial proposed drill hole 

Location of the V2 Zone on TMI and location of initial proposed drill hole

Proposed drilling section of the V2 Zone