OGI Zinc, Yukon
The target at OGI is SEDEX style, stratabound Zn-Pb-Ag mineralization, like Howards Pass and many other zinc-rich base and precious metal occurrences within Yukon's Selwyn Basin.
The area was first investigated in the late 1980's for its gold potential. Gold geochemical anomalies were defined adjacent to a Tombstone-aged intrusion just north of the current OGIO zinc target. Exploration through the 1990's included prospecting, stream sediment and soil geochemical sampling and geophysical surveys. No trenching or drilling was carried out.
Fox Exploration Ltd. staked the OGI claims initially for the known gold potential. Fox completed soil geochemical surveys in 2012 and 2013. While encountering locally anomalous gold values, the 2013 survey discovered high zinc and silver values in the southeast corner of the area surveyed. In 2016, Fox carried out additional soil geochemical sampling which defined the current extent of the OGI Zinc anomaly
The OGI Property is located in the Dawson Mining District in the Yukon, approximately 51 kilometres east of Dawson City and 4 kilometres northwest of Golden Predator's Brewery Creek Mine. Access to within 8 kilometres of the OGI property is by paved road from Whitehorse to the Dempster highway and then by good all-season gravel road up the Dempster highway for 25 kilometres. A helicopter is then required for the remaining 8 kilometres east to the property.
The OGI project lies within the western Selwyn Basin which is characterized by deep water sedimentary rocks of late Proterozoic to Paleozoic in age. Underlying the property is the Silurian to Ordovician Road River Group, consisting of phyllitic shale, cherty shale, chert and rare quartz augen phyllite in the lower part overlain by mudstone, phyllitic mudstone and siltstone with lesser fine grained calcareous quartz sandstone and thin sandy limestone. The Road River Formation is host to numerous zinc-lead-silver mineral occurrences, the most famous of which is Howard's Pass in eastern Yukon.
These rocks have been intruded by the 90-94 my old granitic to syenite Tombstone intrusions. Most of the known Tintina Gold Belt occurrences are related to this suite of intrusive rocks.
The property contains a strong Zn-Ag soil geochemical anomaly, underlain by Road River Formation sedimentary rocks. The soil anomaly, with values ranging from 500 to 5,780 parts per million Zn, is 1,000 m long and over 250 m wide and open in two directions. Other elements enriched in the soil anomaly include Ag, Pb, Ba, Mo, Ni, V, As and P. The bedrock source of the anomaly is unexplained, as there is no outcrop in the immediate area. A single piece of oxidized float assayed 3% Zn.
Pacific Ridge can earn a 100% interest in the OGI Zinc prospect by making payments totaling $225,000, issuing 1,000,000 shares and completing $2.5 million in exploration over 5 years, with an initial payment of $10,000 and issuance of 100,000 shares. The Company must also issue 500,000 shares upon commencement of commercial production. The vendors retain a 2% NSR, half of which can be purchased for $2 million. The agreement is subject to regulatory approval.
The Company plans a program of prospecting, expansion of the soil geochemical grid and trenching, to be carried out early in the 2017 field season.