A $500,000 work program has been proposed by Calpine Resources (VSE) for the GNC claims north of Stewart, B.C., which surround a large part of the Eskay Creek gold deposit owned equally by Calpine and Stikine Resources (VSE). The GNC project, under option from Canarc Resource (VSE), is one of the few properties in the immediate Eskay Creek area not affected by claim disputes. Calpine has earned a 66/9bh/% interest from Canarc with Stikine holding the right to earn half that interest.
Calpine’s 1990 program will consist of further surface exploration including trenching and diamond drilling on top priority gold zones and geophysical targets. Jim Foster of Prime Explorations, which is doing the work on a contract basis, said he expected this work could start in June.
Canarc reported that two mineral occurrences, the Porphyry and Tiptop zones, were located on the GNC property during the 1989 exploration program. Canarc also noted that GNC property covers eight separate claim fractions within the Calpine-Stikine boundary, two of which cross the entire property and possibly a portion of the 21 zone deposit.
The company based this observation on preliminary review of the claims survey conducted by Calpine in the Eskay Creek area, which showed that the Eskay Creek claims lie further to the northwest than previously recorded on claim maps.
According to Canarc, “a significant portion of the 21 zone may extend beyond the northern boundary of the GNC property.”
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