Fran Gold

The Property is 34,360 acres and is located 20 miles from Centerra Gold’s 60,000 tonne per day Mt. Milligan Copper, Gold Mine (299Mt @ 0.22% Cu, .45 g/t Au). 

 

To date there has been in excess of 50,000 feet of diamond drilling in 104 holes, primarily at the Bullion Alley Zone.   A gold deposit, 3700 feet in length, with width of up to 120 feet, and depth of over 700 feet has been delineated.  The deposit contains 3 to 4 well defined parallel gold veins grading up to 2.6 troy ounces of gold per ton as well as wide sections of low and mid-grade gold in veins and disseminated in veinlets throughout the deposit. Surface trenching has identified a near surface sub-zone where the gold bearing veins swell and are accessible from surface.  In addition, samples have assayed up to 1.68% copper and 5.1 troy ounces per ton silver.  There is property wide potential for additional discoveries of gold and copper with numerous showings outside of the Bullion Alley Zone.

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Recent Exploration

During the week of May 13-17, 2024, the Company completed on-site exploration for the purpose of data verification in support of a maiden NI 43-101 Resource Estimate and bulk sample.  A target zone of approximately 5,000 tons was delineated, flagged, and check sampled in trenches where prior assays reported up to 1.8 troy ounces per ton. Surface assays, trench assays and correlated drill results appear to show this area as the primary gold zone.  This zone will remain the focus of the bulk sample and related exploration and mining activity.

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Geology

The Fran Property lies within the Quesnellia Terrane of the Canadian Cordillera and is underlain by Takla Group (Late Triassic-Early Jurassic) sedimentary and volcaniclastic rocks intruded by dykes and small stocks of monzonite, monzodiorite, and diorite intruded by dykes and small stocks of monzonite, monzodiorite, diorite, and felsic porphyries.

 

The west central area of the property known as Bullion Alley, which has a trend of 115°, features auriferous (fracture controlled) quartz-sulfide veins and wallrock replacements which have some strong similarities with those in the historic Rossland gold camp in southeastern BC. These quartz-sulfide veins are associated with the majority of the multi-gram gold intercepts ±Ag, Cu, (Pb & Zn), associated with shear zones occurring both in intrusive and country rock (hornfels) settings along the trend.

Several other syn to post-mineral vein types have been identified in drilling and in outcrops in the Fran Bullion Alley area. The best gold values are localized in areas of vein flexures where thickening of mineralized structures occur. These structures are associated with increased K-feldspar, magnetite, chlorite, silica, and carbonate alteration, and monzonite composition hornblende and plagioclase porphyry dyke/sill lithologies in Late Triassic-Early Jurassic porphyritic monzonite host-rock as well as hornfels in Inzana Formation (Takla Group) volcanic and sedimentary host-rocks.

 

Approximately 75% of the gold enriched shear zones of Bullion Alley are hosted in porphyritic monzonite The remaining 25% hosted in Inzana Formation (Takla Group) indurated volcanic and sedimentary

lithologies.

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