DEEKER CREEK PROJECT
“The Deeker Creek Claim Group is situated in an area that is well-known for
hosting precious metal deposits.”
Summary
The 100% owned Deeker Creek Project consists of forty-five contiguous claims, encompassing approximately 17,322 hectares located in the Liard Mining Division, 210 kilometers northwest of Stewart and 65 kilometers southwest of Telegraph Creek in northwestern British Columbia, Canada. The project is situated on the western margin of the intermontaine belt within the Stikine Arch, an area known for precious metal deposits. The Galore Creek copper porphyry deposit, is located 25 kilometers southeast of the Deeker Creek Project.
“Showings were mineralized up to snow and ice fields, the majority of which
have receded significantly over the past 15 years.”
Overview
At Deeker Creek, molybdenite occurs in quartz veinlets and stringers along fracture planes within a highly veined, altered and fractured border zone of the Chutine quartz-monzonite batholith. The property is underlain by a sequence of Permian limestone, intruded by middle Jurassic suite of biotite-hornblende granodiorite, quartz diorite and Eocene quartz monzonite. This geological setting is a favorable environment for hosting economic mineralization. Historical soil samples have indicated molybdenum values ranging up to 200 ppm with most forming a log-normal curve up to about 60 ppm. 5 ppm is considered of interest. Molybdenum has very high values for soils but shows a fairly general distributon. Multiple showings were located during limited work which may require further investigation (massive pyrite vein, rusty zone, hilltop vein, shear zone). These showings were mineralized up to snow and icefields, the majority of which have receded significantly over the past 15 years. The satellite images indicated glacial retreat of 100s of metres to kilometers; in many instances snowfields have disappeared altogether. This area is a virtually unexplored area of the province.
The first recorded mineral exploration in the Telegraph-Stikine River Region was undertaken in 1861 when placer gold was discovered on the Stikine River just below the townsite of Telegraph Creek. During the 1920s, 1930s, and 1940s, the emphasis shifted from placer exploration to exploration for lode deposits. Early exploration was confined to accessible areas along the Stikine River, with a number of small copper occurrences being discovered. The Deeker Creek property was discovered and staked by Amax Exploration Inc. in 1961 during a helicopter supported regional reconnaissance program. Amax completed a program of trenching and geological mapping in 1962 (Silverside, 1962) and kept the claims in good standing until 1968. Dictator Mines Ltd. restaked the ground in 1969 and completed a program of trenching in 1970 (Dawson, 1970). Cerro entered into an exploration option agreement with Dictator Mines in May 1971 and diamond drilling was then carried out under contract by Coates Enterprises Ltd. of Vancouver. 3793 feet of BQ size drilling was completed between July to September 1971 in five holes, using one longyear 38 wireline drill. Past drill results indicate that while molybdenite is widely distributed within the above mentioned border zone, the grades returned were generally low (0.01% to 0.012% MoS2) and there was little outcrop available because of glacial presence. Prior to TTM’s 2005 prospecting program, the most recent work undertaken on the Deeker Claim block was by Ashworth Explorations Limited, which carried out a field program, consisting of geological mapping, rock, soil, and stream sediment sampling on the Deeker Claim Group for Goldbelt Mines Inc. during July and August, 1990. The 1990 field program has outlined four anomalous areas including an old minfile molybdenum showing and discovered new showings characterized by anomalous gold, silver, copper and molybdenum in quartz veins and anomalous gold in stream sediments. The results of the 1990 field programs were very encouraging in spite of the fact that only one third of the property was covered in the program. The 1990 geological and geochemical surveys delineated four areas that require follow-up work:
The Float Zone
Sampling this zone yielded values of up to .558 oz/st Au, 9.57 oz/st Ag. The high gold, silver and base metal values of the float zone may reflect a strong possibility of large quartz veins occurring beneath the Deeker Creek Glacier.
The Molybdenum Showing
Molybdenum Showing – a rock sampling program yielded values of up to 0.77% Mo and 2.397 oz/st Ag.
The Chalcopyrite-Malachite Vein
Chalcopyrite-Malachite Vein – Sampling of this vein yielded values of up to .766 oz/st Au, 13.35 oz/st Ag, and 23.3% Cu over 25 centimeters of the vein.
The Stream Sediment Gold Anomaly
Stream Sediment Gold Anomaly – Five stream sediment samples returned significant gold values of up to 960 ppb. The high gold values may reflect a mineralized quartz vein southwest of the stream sediment gold anomaly zone.
TTM’s 2005 Prospecting Program
“All the samples collected from the Moly Zone II showed
significant molybdenum mineralization.”
In 2005, TTM undertook a prospecting program on the property to further explore several areas of interest, including the Molybdenum Zone and the Gossan Zone. Two traverse lines, identified as the Northern Moly Traverse (475m long), and the Southern Moly Traverse (2,075m long) totaling over 2.55 kilometers were completed across this area.
The Southern Moly Traverse line commenced from the 1,375 meter elevation where one hundred and sixty boxes of BQ drill core from the 1971 drill program are located. Sixty-seven grab samples were collected from various sections of this old drill core and sent for re-assay, returning values of up to 7,060 ppm molybdenum, 39.7 ppm silver, 2,910 ppm zinc, and 3,100 ppm lead. A total of thirty-five rock samples (TTM-CHG 1-35) were also collected along the Southern Moly Traverse, assaying values of up to 4360 ppm molybdenum. At the southern end of this traverse (1,120m elev.) high-grade molybdenum mineralization was discovered along a narrow ledge, or bench of quartz monzonite, The new zone of molybdenum mineralization was named the Moly Zone II and is located approximately 1,500 meters southeast of the original molybdenum showing.
At the Moly Zone II, massive to disseminated sulphides, mainly molybdenite were noted in quartz veinlets, stringers and fracture planes within altered, silicified quartz monzonite. The mineralization was found along the bottom edge of a low hanging rock bench of quartz monzonite. Seven rock samples were collected in an east/west direction for six metres along the bottom edge of this rock bench. All the samples collected from the Moly Zone II showed significant molybdenum mineralization. Discovery of high-grade molybdenum mineralization at the Moly Zone II provides an important second zone of molybdenum mineralization that is 1,500 meters southeast of the original.
“The Gossan Zone covers an area 400 metres wide and
up to 1,000 metres long.”
In addition, the TTM prospecting program also investigated the Gossan Zone, which is an area showing sulphide mineralization, silicification and argillic alteration with quartz veinlets and stringers that covers an area 400 metres wide and up to 1000 meters long, with a lenticular shape striking north-northwest, consisting of fine-medium grained monzonite. Molybdenite mineralization has significant potential in the area of the Gossan Zone and has the following mode of occurrence:
1. Quartz veinlets, stringers and thick quartz veins.
2. Fracture planes and shear zones.
Most molybdenite occurring in quartz veinlets and stringers is considered more abundant than molybdenite in fractures and shear zones. Molybdenite in quartz veins account for a very minor portion of total molybdenite observed in the area of the gossan zone and is erratically distributed within them. Pyrite, sericite and chlorite are usually associated with molybdenite in quartz veinlets, stringers and fractures planes.
“The Company has an early September 2006 exploration program planned for Deeker Creek to follow up on 2005 discoveries, obtain new rock samples, and determine a more comprehensive program for either this fall or spring 2007.”
TTM’s 2006 Prospecting Program
In the fall of 2006, the Company undertook a prospecting and mapping program of the moly zone II and the Float Zone. Recent glacial retreat has uncovered much of the landscape and allowed a more thorough examination of the local geology. The crew spent several days traversing new ground, revisiting trenches, drill holes and old sample sites. The core from a 5 hole 1971 drill program was still intact and re-logged. Twenty-six samples from one hole were obtained for analysis. A total of 38 grab samples were also submitted for multi-element spectral analysis.
The mineralization of the molybdenum area consists of a high grade central zone and a surrounding lower grade stock work of mineralized quartz within quartz monzanite. The high grade zone is a quartz vein up to 2 meters thick. Mineralization within the high grade zone consists of pyrite, chalcopyrite and seams of fine to coarse flakes of molybdenite. The sulfides occur in concentrations of up to 40% and as disseminated cubes (pyrite) up to 20%.
The strike length of the high grade zone is 650 meters with the quartz vein pinching and swelling from 0.2 meters to 2.0 meters. The vein is exposed down dip for approximately 35 meters in one area, and over 10 meters in outcrop. The high grade vein disappears up dip into the hill, and this remains open to the East.
High-grade molybdenite mineralization at the Moly Zone provides an important extension of molybdenum mineralization that is now exposed beyond the boundaries of the 1971 drilling program. Of 39 rock samples taken, 4 yielded values of >4360 ppm molybdenum. Another 8 samples ran above >1000 ppm molybdenum and 14 more were well above background levels. Many samples also ran high in copper, lead, zinc, tungsten, and silver. Moving away from the main quartz vein, silicification occurs as minor veinlets and stringers of quartz, with pyrite, chalcopyrite and often molybdenite. This area covers a strike length of 1.5 km and swells to a width of 0.9km in the area of the widest high grade vein.
After prospecting for the Float Zone boulders, it is assumed the Float Zone refers to the now exposed area below the Moly showing. Many large, angular, mineralized boulders were found immediately south, and in line with glacial flow, of the main high grade vein discussed above.
