Galore Creek area very active

Located about 30 miles north of the Snip gold deposit (Cominco/ Delaware), Galore Creek is an old porphyry copper-gold camp found in the 1950s by Kennco Explorations. Geologically, it’s analogous to the Sulphurets and Iskut camps further to the south.

Hudson Bay Mining & Smelting (TSE), Cominco Ltd. (TSE), Homestake Mining (NYSE), Equity Silver (TSE), and Corona Corp. (TSE), are a few of the majors in the area. Individually, and through various joint venture agreements, they are examining a number of attractive properties. Among them, the Galore Creek porphyry copper-gold deposit which is being looked at again for higher grade zones by Hudson Bay; the company’s objective is to define targets for a 1990 drill program.

Cominco is reported to be working several properties in the Mess Creek/More Creek areas in the eastern part of the camp and Homestake and Equity Silver have staked and will joint venture a number of claims in the area as well. Corona has picked up several large claim blocks and plans a grass roots program this year.

Among junior sector companies, Continental Gold (VSE) has been one of the more active participants in the region. In 1988, the company spent about $1.3 million on its Trophy property with mixed results. About a dozen gold-silver occurrences were identified and additional work is planned this year.

Pass Lake Resources (VSE), whose timing was impeccable, acquired a major land position at Galore Creek late last year which it optioned to three companies: Consolidated Goldwest Resources (VSE), Volcano Resources (VSE) and Lorica Resources, a private Vancouver company.

Consolidated Goldwest, a Pezim Group company, will explore the bulk of Pass Lake’s claims in the camp. A minimum of $500,000 has been allocated for a work program that will include an airborne MAG/EM survey, prospecting, and sampling. Volcano has a minimum $75,000 budget for preliminary exploration work adjacent to the Paydirt prospect where reserves are reported to be 200,000 tons grading 0.12 oz gold. Lorica apparently has a 1989 budget of $100,000. Five gold occurrences have been found on the property one of which is a gold- copper massive sulphide deposit.

The Paydirt property is held under option by Longreach Resources (VSE) from Consolidated Silver Standard (VSE). This year’s budget could be over $350,000 and may include 600-700 ft of drifting plus underground drilling.

Pioneer Metals (TSE) has outlined a drill target just north of Hudson Bay Mining which it may test this year; and Harrisburg-Dayton Resource Corp. (VSE) has optioned the Jack claim where high grade gold values were discovered in vein material last year. Prospecting and sampling are planned this year.

Bellex Mining and Sarabat Gold, two private Vancouver companies, are planning work programs in the Jack Wilson Creek basin at Galore Creek. Detailed follow-up work is planned on several gold targets found last year. A minimum budget of $100,000 is being considered by each of the two companies.

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