Taywin plans more work on its Electrum property

More work is planned this year on Taywin Resources’ Electrum property on Vancouver Island. According to J. Donald Graham, president, the program will include metallurgical testing of ore grade drill core, road building and trenching on all four zones, plus drilling on the B and C zones.

Taywin has already spent about $225,000 on the property under its option agreement with BP Minerals. The company can earn a 50% interest in the property through an additional expenditure of $150,000. Working capital is presently about $450,000 and Taywin has another $300,000 coming from NIM.

Recent exploration work included stripping in the central section of the B zone on the electrum vein. High grade gold and silver values were encountered over a limited area. The best values were found in hole 87-1 which returned 10 ft of 3.62 oz gold and 50 oz silver. An 11.4 ft intercept in hole 87-19 averaged 0.68 oz gold and 47 oz silver. Closed spaced drilling will be required to delineate the boundaries of this small but high grade deposit, he states. The favorable position of the vein on the hillside simplifies sampling and would permit low cost strip mining, he adds.

A number of other large quartz veins were examined on the B zone with 16 out of 49 chip samples returning 0.1 oz gold equivalent and higher. Many of the veins were 10 ft and longer, he notes. The best results came from the 65 ft by 20 ft Off-set vein where the average of eight samples was 0.14 oz gold equivalent.

Several other targets are available for trenching and drilling including the C zone where a strong quartz vein system was discovered with 13 samples returning over 0.1 oz gold per ton. The best assay result was 0.48 oz gold over seven feet.

According to Taywin’s geological consultant, Mark Rebagliati, the property hosts three alteration zones that are associated with a large pluton. This pluton is similar to the one at Utah Mines copper project near Port Hardy, also on Vancouver Island. Veins are associated with faulting and typically average 10-15 ft but they do reach 30 ft and more occasionally. Not all the veins carry gold but they do contain high grade shoots which are identifiable by soil geochem.

Electrum is the principal mineral but there is some chalcopyrite, sphalerite, and minor pyrite. There are hardly any arsenides or antimony so it’s quite clean. The electrum vein is a dip slope vein so it will require short close-spaced test holes. The principal target now is the C zone which will be backhoed once good road access is available.