Junior explorers still flocking to the Yukon (April 04, 2011)

A crew getting ready to stake for Constantine Metal Resources and Carlin Gold in the Yukon. Photo by Carlin GoldA crew getting ready to stake for Constantine Metal Resources and Carlin Gold in the Yukon. Photo by Carlin Gold

2010 was a big year for the Yukon as exploration companies flooded into the territory in a flurry of staking and deal making, and 2011 is looking no different.

A survey of stakings completed and option deals made since mid-February shows that interest is still high as companies fight for what is left of a dwindling pie.

Newly-claimed ground

Constantine Metal Resources (CEM-V) and Carlin Gold (CGD-V) have teamed up to stake 152 claims for a 31-sq.-km area that borders Atac Resources‘ (atc-v) Rau gold property in the Selwyn basin. Constantine notes the claims are located adjacent to a known cinnabar and native mercury occurrence. The two companies now control 2,453 claims for roughly 500 sq. km of the basin.

Metals Creek Resources (MEK-V) has staked 166 claims in four separate blocks in the Dawson Range gold district, with three blocks in the Matson Creek area and the fourth located 40 km north of Kinross Gold‘s (K-T, KGC-N) ground. The junior notes that “the claims were staked to cover gold geochemical anomalies, interpreted to be underlain by favourable geology similar to that hosting the recently discovered gold deposits in the White Gold area.”

Cantex Mine Development (CD-V) has staked 10.45 sq. km adjacent to the eastern extremity of Atac’s claim block, as well as 10 sq. km about 15 km southeast of Atac’s Rau deposit. The company notes the latter area “has been staked over the source area of several arsenic anomalies as reported on the government stream-sediment maps.”

Dawson Gold (DYU-V) has expanded its Toro gold project in the White Gold district by 32 claims, while 60 km south of Toro, it also staked 228 claims for 45 sq. km near the historic Mt. Nansen mine and a further 228 claims or 47 sq. km in a block it has called King-Kong in the Mt. Skukum/Wheaton River area.

Rounding out the staking list, Tarsis Resources (TCC-V) has staked 36 claims for 7.5 sq. km in an area 50 km north of Haines Junction in western Yukon; Hinterland Metals (HMI-V) has staked 31 claims for 6.4 sq. km on the northwest side of Thistle Mountain and beside the south border of Kinross’s White Gold property; and Sea Green Capital (SGS-V) has added 106 claims or 22 sq. km to its existing 56 or 12-sq.-km Zeus property that sits 33 km northwest of Kaminak Gold‘s (KAM-V) Coffee discovery in the White Gold district.

Optioning 

With so much staking already completed in the Yukon, including 35,000 hard-rock claims in the first nine months of 2010, many companies are turning to an option agreement to get a piece of the Yukon rush.

Ethos Capital (ECC-V) has optioned a 100% interest in the Bridget and Hen properties covering 1,385 claims or 289 sq. km that were first identified by prospector Shawn Ryan. The properties fall east and north of the Coffee project and the company notes that “these two new properties represent excellent opportunities for exploration for bulk-tonnage gold mineralization in
the emerging White Gold district.
There is also potential for gold-copper-molybdenum mineralization similar in style to the nearby Casino deposit and the Minto deposit.” To earn both properties, Ethos has to pay $1.2 million cash, issue 3 million shares and spend $5 million in exploration over five years.

AccelRate Power Systems (AXP-V), which will soon become Goldstrike Resources and focus exclusively on gold exploration,
has taken a shotgun approach and optioned into 3,756 claims covering 78 sq. km that are scattered around the major Yukon districts. The company has optioned properties in proximity to Atac’s Osiris play, Northern Tiger Resources‘ (NTR-V) 3 Ace target, Rockhaven Resources‘ (RK-V) Klaza property, Victoria Gold‘s (VIT-V) Dublin Gulch area and Kaminak’s Coffee target. Option terms are in 22 separate but similar agreements each requiring about $1.1 million in cash, 2-3 million shares, and $2.6 million in expenditures within five years.

Aben Resources (ABN-V) has optioned the Rusty Springs silver project from Eagle Plains Resources (EPL-V). The 11-sq.-km property sits north of Dawson City and Aben has to pay $500,000 cash and issue 1.5 million shares to get it, plus a 3% net smelter return (NSR) royalty. The company also recently secured the 127-sq.-km Rude Creek South property in the “heart of Yukon’s White Gold district” that sits 60 km southeast of Kinross’s Golden Saddle property and 40 km southeast of Coffee. The property will cost Aben $300,000 in cash and $1.5 million in exploration plus a 2% NSR royalty.

Rounding out the optioners: Emerick Resources (ERC-V) has optioned a 60% interest in the Rivier Gold property in the Watson Lake district from Radius Gold (RDU-V); White Pine Resources (WPR-V) has optioned 100% of the Money and Tender properties in the White Gold district from Shawn Ryan and Wildwood Exploration; Ansell Capital (ACP-V) has optioned 100% of the Dal property that sits between Atac’s Rau and Nadaleen trends, also from Shawn Ryan and Wildwood; Brandenburg Metals (BBM-V) has optioned 100% of the VG property 45 km northwest of Kinross’s White Gold property; and Silver Quest (SQI-V) has optioned 100% of a 63-sq.-km property 30 km north of Keno City and a 16-sq.-km property northwest of Coffee.

Most of the properties are early stage and companies are generally planning geophysics and surface sampling for 2011, but it should still prove to be another interesting year in the Yukon.

Print

Be the first to comment on "Junior explorers still flocking to the Yukon (April 04, 2011)"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close