BINGO PROPERTY

Bingo property is situated within two kilometres of the unconformity between Lower Hazelton and Stuhini Group rocks, also known as the “Red Line” boundary where the vast majority of large deposits have been found in the Golden Triangle. The property has an area of 989 hectares and is located 45 km SSW of Stewart, BC and 28 km W of Kitsault, and only 12 km to tidewater landing and roads in the historic mining town of Anyox providing for cost effective exploration.

Bingo 2016 to 2018 Historical Highlights include:

  • The Bingo Main target is a zone containing historical gold mineralized grab, chip and channel samples over an area of 420 metres x 320 metres. The zone is open on surface and to depth and is drill ready.
  • 83% of all the samples taken contained gold mineralization
  • Historical channel cut over 4.85 metres assayed 1.77 gpt Au, and 0.20 % Cu
  • Historical channel cut over 3.2 metres assayed 1.48 gpt Au and 0.37 % Cu
  • Between 2016 and 2018, 19 chips samples where collected and assayed up to 9.79 gpt Au

The Bingo Main Zone is a Drill Ready zone containing gold mineralized grab, chip and channel samples (83% of all the samples taken contained gold mineralization) over an area of 420 metres x 320 metres. The zone is open on surface and to depth. Historical channel cuts taken between 2016 and 2018 assayed 1.77 gpt Au and 0.20 % Cu over 4.85 metres and 1.48 gpt Au and 0.37 % Cu over 3.2 metres, respectively. During the same period a total of 19 chips samples were collected and assayed up to 9.79 gpt Au and 18 outcrop grab samples that returned assay values ranging from below the detection limit to 1.22 gpt Au. Within this zone, there is also a stratigraphically controlled 7 – 9 metre-wide gold, copper, iron mineralized horizon within a metamorphosed gabbroic unit that has been traced north-south along strike, which remains open on surface and to depth. Most channel and chip sample were cut normal to the strike of a gossanous meta-gabbro unit (hosted within volcanic sediments) which is believed to host the mineralization. The meta-gabbro unit dips moderately to the west and thus true thicknesses are estimated to be 50-70% of channel or chip sample length.

One hundred and twenty-eight channel, chip, and grab samples were collected from the Main Zone and of these, 106 samples (83 %) contained gold mineralization. Ninety-one samples over 46.7 metres of channel cuts were collected from the mineralized horizon 16 of which returned greater than 1 gram per tonne gold and 28 returned between 1 and 0.5 gpt gold (49 % of channel samples contain gold mineralization over 0.5 gpt Au) confirming the strong continuity of the of the gold mineralization (link to images and maps). The proposed work, including soil sampling, ground magnetic survey and prospecting will focus on defining additional strong drill targets for a maiden drill program.

The Bingo property contains the same geological units and indicated structures as Goliath Resources Ltd. Surebet discovery (Hazelton Volcanics and related sediments which host the mineralized shear zone) including felsic and mafic intrusive rocks of the Coast Plutonic Complex. Mineralization at Bingo includes pyrite, chalcopyrite (Cu), galena (Pb), pyrrhotite, similar to what is observed at Surebet. At Bingo gold rich fluids intruded and altered the host rock in a potential shear zone. Both properties are within the Eskay Rift known to be a fertile area for mineral deposits in the Golden Triangle. Both Bingo Main and Surebet are located on N-S oriented lineaments that intersect prominent NE trending structures.

Mineralization at Bingo Main Zone is lithologically controlled within a rusty brown weathering, meta-gabbro unit hosted in sheared volcanic sediments. The gold mineralized horizon is anomalously magnetic allowing the zone to be easily traced along strike and beneath overburden utilizing a ground magnetic survey. The Bingo Main Zone is a drill ready target. Based on regional mapping, the Bingo property is underlain by Lower Hazelton group volcanic rocks, which is the same stratigraphic unit that hosts Goliath Resources Ltd. Surebet Discovery (generated by the J2 Syndicate and currently explored by the same team), Auryn Resources Inc’s Homestake Ridge deposit and Pretium Resources Inc.’s Brucejack deposit. Additionally, the property is located proximal to the unconformity between the Hazelton and Stuhini Group rocks, also known as the “Red Line”, a geological boundary proximal to where many world class deposits are found within the Golden Triangle. Initial geological observations have supported the untapped potential of this underexplored property.

Table 1: Bingo Property Historical Assay Highlights