Woodjam North

To read the complete National Instrument 43-101 Technical Report for the Woodjam Copper Gold Project Cariboo Mining Division, British Columbia please click here.

Introduction

Woodjam North currently has five mineralized zones. Four of these zones, Megabuck, Deerhorn, Takom and Three Firs have had drilling. Deerhorn and Takom have NI 43-101 compliant resources. A new zone, called the Canyon Zone, was discovered in 2017 in an outcrop and has never been drill tested.

Geology

The Quesnel Terrane, previously called the Quesnel Trough, is a large regional depositional belt extending northwards »2,000 km from the United States. The region hosts several large tonnage copper-gold ‘porphyry type’ deposits including Copper Mountain’s Copper Mountain Mine, Teck Corporation’s Highland Valley Mine, New Gold’s New Afton Mine, Imperial Metals’ Mount Polley Mine, Thompson Creek Metals’ Mt. Milligan Mine and AuRico Gold’s Kemess Mine. In addition, Taseko Mines’ Gibraltar Cu-Mo mine lies 50 km to the west of Woodjam, just outside the eastern edge of the Quesnel Terrane. Quesnel Terrane alkali-porphyry deposits typically are hosted in basalts and andesitic flows, fragmental rocks and alkalic intrusive complexes. They are generally mineralized with gold and copper and do not have large quantities of pyrite. Sulfide mineralization is developed adjacent to and within concentrically-zoned alkalic plutons.

Breakthrough in 2007

An IP study performed in 2007 gave evidence that a large intrusive/hydrothermal complex measuring approximately five km by six km underlies a portion of the Woodjam North and South properties, with at least three large IP chargeability anomalies. The Megabuck and Takom Zones, were already associated with known copper and gold mineralization while the Deerhorn Zone had no previous exploration until 2007.

The geophysical survey data dramatically expanded the area of interest for exploration on the Woodjam North and South properties and suggested a much greater potential for discovery than previously envisioned. Northeasterly trending geologic features have long been considered important in determining the location of large mineralizing systems in the generally northwest trending Quesnel Terrane. This 2007 IP survey data suggested that such a feature is present and is aligned with the known mineralized areas on the Property.

Four mineralized zones have been identified on the Woodjam North Property namely, Megabuck, Deerhorn, Takom and Three Firs. A further target area exists in the region called Megabuck East.

Megabuck Zone

The Megabuck Zone is located on the flanks of a large IP chargeability high and defined by 67 drill holes.

Mineralization is consistent with a porphyry-type gold-copper style of mineralization. Although gold and copper content of the volcanics is markedly less than that of the monzonite, it still contains up to 1.85 g/t gold. Gold-copper ratios are consistent at approximately 1 g/t Au to 0.14% Cu.

The continuity of mineralization from drilling to date suggests that the system has a strong likelihood for continued expansion to the south and east and to depth. Monzonite intrudes highly altered, fractured and brecciated volcanics, containing numerous irregular monzonite lenses and fragments.

Selected drill results from Megabuck Zone include:

Hole Interval (m) Gold (g/t) Copper (%)
74-1 58 1.39 0.13
74-2 36 1.41 0.11
83-4 47 1.28 0.11
99-20 144 0.72 0.12
04-32 361 0.84 0.12
04-37 348 0.82 0.12
06-51 93.6 0.95 0.19

Deerhorn Zone

In 2007 a new discovery was made by the Woodjam Joint Venture at the Deerhorn Zone. Since then Gold Fields follow-up drilling has outlined a mineralized zone with holes DH09-03, DH10-04, 05, 20, 21, 23, 25, DH11-26, 27, 29 and 30. The higher-grade core appears to plunge moderately to the southeast and has dimensions of approximately 350 m in strike, 100 m in width and 200 m in depth and remains open. This higher grade core is enclosed within a much larger, lower grade envelope containing quartz with magnetite vein-hosted and disseminated chalcopyrite mineralization in potassic-altered zones of fine-grained volcaniclastic rocks with interfingering monzonitic dykes. A second mineralized trend is also present in the Deerhorn Zone to the north and with approximate dimensions of 700 m in length and 100 m in width.

Deerhorn Zone Resource:

Category

Tonnes (Mt)

Au (g/t)

Cu (%)

Au (Koz.)

Cu (Mlb.)

Inferred

32.8

0.49

0.22

516.2

158.2

The tonnes and grade are reported at a US$8.60/t NSR cut-off grade constrained within an optimized pit shell. The pit shell is based on a price assumption of US$1,650/oz Au and US$3.90/lb Cu. The NSR calculation uses recoveries 56% Au and 64% Cu.

Selected drill results from the Deerhorn Zone include:

Hole Interval (m) Gold (g/t) Copper (%)
10-09 90.8 0.58 0.39
10-21 145.1 1.24 0.30
10-23 95.7 0.53 0.22
11-32 207.5 1.00 0.18
11-33 149.0 0.30 0.23
11-29 93.6 0.52 0.17
11-30 160.3 1.03 0.25
12-37 145.0 0.71 0.13

Takom Zone

The Takom Zone, located approximately 2.5 km south of the Megabuck Zone, is defined by large (~ 500 m x 1,500 m) coincident IP chargeability and copper geochemistry anomalies.

Drilling in the Takom Zone area is directed at defining the geometry of the mineralized intrusion intersected by previous drill holes, as well as step-out holes to explore for new mineralized areas. Assay results from previous drilling indicate a zone of high gold to copper ratio mineralization, similar to the Megabuck and Deerhorn Zones to the north, following a northeasterly trending positive magnetic feature.

Takom Zone Resource:

Category

Tonnes (Mt)

Au (g/t)

Cu (%)

Au (Koz.)

Cu (Mlb.)

Inferred

8.3

0.26

0.22

68.2

39.7

The tonnes and grade are reported at a US$8.60/t NSR cut-off grade constrained within an optimized pit shell. The pit shell is based on a price assumption of US$1,650/oz Au and US$3.90/lb Cu. The NSR calculation uses recoveries 56% Au and 64% Cu.

Selected drill results from the Takom Zone include:

Hole Interval (m) Gold (g/t) Copper (%)
07-77 137.3 0.14 0.18
08-87 127.3 0.40 0.26
09-1 208.8 0.40 0.35
09-3 96.0 0.19 0.16
10-12 148.0 0.40 0.26

Three Firs

The Three Firs Zone is located within the western extension of the Takom Zone IP chargeability anomaly, approximately 2 km southwest of the Takom Zone.

Selected drill results from the Three Firs Zone include:

Hole Interval (m) Gold (g/t) Copper (%)
MAG12-03 213.5 0.20 0.20
including 83.0 0.35 0.26
MAG12-05 117.0 0.15 0.21
MAG12-06 350.8 0.11 0.15
including 150.0 0.2 0.23

Canyon Zone

The Canyon Zone is located approximately 9 km northwest of the Three Firs Zone which is the closest area to it where drilling has been completed on the Woodjam property.

The Canyon Zone outcrops and a composite grab sample from a quartz feldspar vein assayed 7.51% copper, 356.0 ppm (11.32 oz/ton) silver and 589 ppb gold. Two samples of malachite stained basalt outcropping 35 m and 185 m distant from the vein assayed respectively 1,989 and 2,168 ppm copper (without appreciable gold or silver). 

Since it is a recent discovery, the Canyon Zone has not yet had systematic exploration or been drilled.

Status

Consolidated Woodjam Copper is 100% owner of the Woodjam North property subject to underlying royalties to Gold Fields.

To view Woodjam Maps click here.