RC Gold, Yukon
The target at RC Gold is an Intrusion Related Gold deposit similar to Eagle Gold (Victoria Gold), Brewery Creek (Golden Predator) and Red Mountain in Yukon and Fort Knox, True North, Pogo and Donlin Creek in Alaska.
Placer Mining first began on Clear Creek in the late 1800's and the first quartz claims were staked in the early 1900's. Placer mining has continued to the present, with a dredge operating on Clear Creek from 1943 to 1954 and again between 1981 and 1987.
The first modern hard rock exploration in the area took place in the 1970's, targeting silver, tin and tungsten, metals commonly associated with Intrusion Related Gold deposits. High grade gold-silver and silver-lead-zinc veins have also been prospected.
In the 1990's, exploration shifted to bulk tonnage gold after the discovery of the Fort Knox gold deposit in Alaska, in a similar geological environment. Explorers in the vicinity of The RC Gold property included Noranda, Ivanhoe Goldfields, Kennecott and Newmont. These companies carried out geological mapping, geochemical and geophysical surveys and several campaigns of drilling. More recently, in the 2000's, Thor Explorations, StrataGold and Golden Predator have explored on the west side of the RC Property, while Ryan Gold (now StrikePoint) explored to the east.
The RC Gold property lies at the headwaters of Clear Creek, a major placer mining creek that is serviced by a network of gravel roads and trails. A new placer access road traverses the south side of the Property. The Clear Creek road connects to the Klondike Highway, approximately mid-way between Stewart Crossing and Dawson. Alternate transportation is by helicopter from Dawson City (about 110 km) or Mayo (about 65 km).
The area of the RC Gold property is underlain by phyllite, quartzite, calc-phyllite, calc-silicate, grit and marble of the Proterozoic to Early Cambrian Hyland Group. These metasedimentary rocks are imbricated by thrust faults of Jurassic and Early Cretaceous age. The Clear Creek area is in the hanging wall of the Robert Service Thrust.
At the headwaters of Clear Creek, six Tombstone-style intrusions with ages of approximately 92 my, include the Saddle, Eiger, Pukelman, Rhosgobel, Josephine and Big Creek stocks. They have surface exposures ranging from 0.2 to 3.5 km2. The Saddle, Pukelman and Rhosgobel stocks are composed of medium- to coarse-grained quartz monzonite The Josephine and Big Creek stocks are composed of fine- to medium-grained, equigranular granodiorite. The Eiger stock is composed of fine to medium-grained, equigranular diorite with rare mafic phenocrysts.
Contact metamorphism of the Hyland Group country rocks extends for as much as 0.5 km around the stocks and typically occurs as resistant, rusty weathering biotite hornfels.
The RC Gold project lies within the heart of the Tintina Gold Belt. Hart (2005) has estimated a total metal endowment on the order of 70 million ounces of gold. Key deposits include Brewery Creek and the Eagle deposit (Dublin Gulch) in Yukon and Fort Knox, True North, Pogo and Donlin Creek in Alaska. Most of these deposits are characterized by flanking placer gold creeks.
The immediate area of the RG Gold project is characterized by several styles of mineralization associated with the Tombstone-aged intrusions, but the most important of these is sheeted veins, stockworks and breccias that occur within the intrusions and adjacent hornfels. These veins typically contain minor amounts of sulphide, including arsenopyrite, pyrite and rarely pyrrhotite. Other minerals include scheelite (tungsten), molybdenite, galena, chalcopyrite and bismuthinite. Arsenic, bismuth, tellurium, antimony, tungsten and molybdenum are typical pathfinder elements when prospecting for gold in these types of systems.
The RC Gold project comprises claim groups from two separate vendors.
The Company has the right to acquire a 100% interest in the RC claims by paying $300,000, issuing 1,500,000 shares and completing $1,870,000 in exploration over 5.5 years. An additional $125,000 is payable and 500,000 shares issuable upon completion of a feasibility study and an additional $125,000 is payable and 500,000 shares issuable upon a production decision. The property is subject to a 2% NSR, half of which can be purchased for $2,000,000.
The Company has the right to acquire a 100% interest in the BEE and BOP claims by paying $100,000, issuing 500,000 shares and completing $630,000 in exploration over 5.5 years. An additional $125,000 is payable and 500,000 shares issuable upon completion of a feasibility study and an additional $125,000 is payable and 500,000 shares issuable upon a production decision. The property is subject to a 2% NSR, half of which can be purchased for $2,000,000.
Pacific Ridge plans a program of detailed mapping, prospecting and soil sampling to define targets for drill testing.