Canadian Creek 43-101 Report
The Canadian Creek property consists of 4,800 hectares of claims in the Whitehorse Mining District, Yukon Territory. The property is located approximately 300 km northwest of
Whitehorse
and 160 km south of
Dawson
City
.
Canadian Creek is located approximately 50 km southeast of the Underworld Resources Inc. owned White Gold project in the newly recognized White Gold district where an area play is developing.
Geology
Canadian Creek lies within the northwest trending Tintina belt of gold rich mineral deposits that extends from the
Mount
Nansen
and
Freegold
Mountain
areas, through the Sonora Gulch and Casino deposit areas and toward the Pogo mine in
Alaska
.
The immediate area around Canadian Creek is a favorable setting to host economic mineral deposits, as demonstrated by Capstone's currently producing Minto Mine, only 70 km to the east. Canadian Creek is also strategically located to the immediate west and adjacent to Western Copper Corporation's Casino deposit, a porphyry copper-gold-molybdenum system with a large documented resource (1.002 billion tones grading 0.22% copper, 0.25 g/t gold and 0.02% Mo, (E.D. Titley, Report Revised Resource Estimate, Casino Property, Yukon Territory, for Lumina Copper Corp., Feb 27, 2004).
There are three exploration target types on the property:
(1) Bulk tonnage (intrusion related) gold deposit;
(2) An untested gold arsenic soil anomaly which has a similar signature and setting to Underworld's White Gold discovery and;
(3) A classical copper-gold-molybdenum porphyry deposit.
On the Canadian Creek property, a large copper and molybdenum in soil geochemical anomaly was outlined in 2003 and appears to be flanked by a gold anomaly, indicating that metal zoning has occurred. Limited drilling completed in 1994 and 2000 within the gold anomaly returned encouraging gold mineralization in several holes on the south-western side of the grid (above the copper-molybdenum anomaly).
Bulk tonnage style gold mineralization was first identified at Canadian Creek in 1993 when an excavator trench exposed 40 metres of mineralized rock grading 0.57 g/t gold including 10 metres grading 1.69 g/t. A diamond drill hole completed in 1993 intersected 150 metres grading 0.49 g/t gold, including 44 metres grading 0.71 g/t. A large area to the south, east and west of the drilled area remains untested.
A program of surveying and geochemistry was completed in 2006 in preparation for 2007 drill program. During this surveying, several pieces of mineralized galena rich rubble were found, grading up to 4,919 g/t (143 oz/t) silver. Although this style of mineralization (precious metal vein) is not the predominant target type it represents an additional potential of the property.
In 2007, five holes were drilled. Highlights include hole 07-04, which returned 0.31 g/t gold (with 516 ppm copper and 15 ppm Mo) over 139.9 metres (9.1m to 145.0m). A narrower interval in this hole returned 2.96 g/t gold over 6.0 metres (139.0m to 145.0m).
The White Gold discovery by Underworld has led to the recognition of the importance of gold-arsenic anomaly in soil at Canadian Creek with a size in excess of 1,000 m x 500 m. This anomaly has never been drilled.
Access
The property is accessible in three different ways. The first is by barge from Minto or Dawson city and then an all season road from the mouth of Britannia Creek to the property. The second is via a winter only road from the Freegold property 90 km to the southwest. The third is via a new airstrip currently being built by Western Copper that is due for completion in 2009.
Status
Canadian Creek is optioned From Cariboo
Rose
. Alder can earn a 60% interest in the Property by
June 18, 2013
by making $250,000 in cash payments to Cariboo
Rose
, issuing a total of 250,000 shares and funding exploration expenditures totalling $2,500,000. Alder has given a firm commitment to complete the first $250,000 of work by
June 18, 2010
.
