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Coronation Gold
Gold, Silver, Lead, Zinc

Recent Reports: Coronation Gold Assessment Report November 2012

Coronation Gold is located near Memphis Creek, 6 kilometres northeast of Slocan in southeastern British Columbia. The property covers 604 hectares (1,493 acres) over several reverted crown grants and includes five other past-producing mines; the Colorado (MINFILE 082FNW161), the V&M (MINFILE 082FNW191), the Senator (MINFILE 082FNW164), the Sapphire (082FNW190), and the Homestake (MINFILE 082FNW213), in addition to the Coronation (MINFILE 082FNW162). Primary mineralization is gold, silver, lead, and zinc. The highest combined historical assays for ore shipped to the mill are 27.7 grams (0.89 ounces) per tonne gold, 13,000 grams (418 ounces) per tonne silver, and 20% lead.

According to MINFILE 082FNW162, the Coronation was reported to have produced ore grading as much as 13,000 grams (418 ounces) per tonne silver and 20% lead. The BC Assessment Report 18603 report notes that a sample of tetrahedrite-bearing ore from the portal assayed 2.1 grams per tonne gold and 6,000 grams (192 ounces) per tonne silver, and a sample from the Coronation dump assayed 0.4 gram per tonne gold, 2,414 grams (77.6 ounces) per tonne silver, 1.2% lead and 10.9% zinc. The same report documents samples from the Senator adit that assayed 6.1 grams per tonne gold and 1,080 grams (34.7 ounces) per tonne silver over 0.3 metres on a quartz-pyrite vein. MINFILE 082FNW164 documents that ore shipped from the Senator mine assayed 14.38 grams per tonne gold (0.46 ounces) and 1,390 grams per tonne silver (44.38 ounces). It was also reported (MINFILE 082FNW191) that one of the V&M mine adits shipped ore that assayed an average of 11.27 grams per tonne gold and 1,959 grams per tonne silver (63 ounces). Past-production at the Homestake mine (MINFILE 082FNW213) averaged 22.3 grams (0.72 ounces) per tonne gold, 2,610 grams (83.93 ounces) per tonne silver, 0.13% lead and 0.15% zinc. Recorded production at the Sapphire mine averaged 27.73 grams per tonne gold (0.89 ounces) and 1,413 grams per tonne silver (45.4 ounces).

In July 2012 the Company conducted a work program at Coronation Gold under the supervision of Mr. Dan Oancea, P.Geo. Prospecting, sampling and a short geophysical survey were undertaken over two prospective parts of the property. Samples were collected from mineralized host rocks and vein materials. Seven of these samples were sent to ALS Chemex Labs in Vancouver for analysis, and the most significant assays have been reported as follows:

  • C05: 1.53 grams per tonne gold, and 265 grams (8.52 ounces) per tonne silver;
  • C07: 25.9 grams (0.83 ounces) per tonne gold, and 2,590 grams (83.27 ounces) per tonne silver;
  • C08: 17.45 grams (0.56 ounces) per tonne gold, and 479 grams (15.4 ounces)per tonne silver.

The Company considers these results to be entirely consistent with previous assessments as well as the historical ore grades from the 6 past-producing mines on the property, all of which are in close proximity. Accordingly, we believe Coronation Gold to be a property of merit that justifies further follow up work during the upcoming season.

Sources: BC Assessment Report 18603,    BC MINFILE 082FNW161,    082FNW162,    082FNW164,    082FNW190    082FNW191    082FNW213