assessment report on the bill 1 – 19 claims

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ASSESSMENT REPORT

GEOPHYSICAL REPORT

ON THE

DESCEND PROPERTY

BILL 1 – 19 CLAIMS

NTS 94C

UTM 325657E 6212479N

56o 01’ N, 125o 48’ W

FOR

LYSANDER MINERALS CORPORATION

Vancouver, British Columbia

BY

DONALD K. MUSTARD, BSc., P.Eng

Vancouver, British Columbia

SEPTEMBER 8, 2008

EVENT #SOW-M (4226904) 2008/JUL/14

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BC Geological Survey Assessment Report 30228

TABLE OF CONTENTS

Page

SUMMARYi

INTRODUCTION 1

LOCATION AND ACCESS 1

CLAIMS 1

HISTORY 5

REGIONAL GEOLOGY 6

GEOLOGY 6

WORK PROGRAM 7

RESULTS 9

EXPENDITURES 11

RECOMMENDATIONS

STATEMENT OF QUALIFICATIONS 12

LIST OF TABLES:Table l Claim Status 3Table 2 Discoveries 5Table 3 Expenditures 11

LIST OF FIGURESFigure 1 Location Map 2Figure 2 Claim Map 4Figure 3 Regional Geology 8Figure 4 Regional Magnetics Map 10

LIST OF APPENDECES

Appendix l – Pinchi Project ASTER Mineral Alteration Mapping reportby Gerald Mitchell, P.Geo., of PhotoSat Information Ltd.

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SUMMARY

The Descend property, comprised of the Bill 1 – 19 claims and covering an aggregate

7,885 hectares, is a copper-gold project situated in the Quesnellia geological province

some 300 kilometres northwest of Prince George, British Columbia. The property lies

within the Hogem (Omenica) batholith, the largest alkalic batholith in Western Canada,

which intrudes volcanic units of the Takla group volcanic rocks. The work program

herein comprised geophysical interpretation of ASTER (Advanced Spaceborne Thermal

Emission and Reflection Radiometer) images for a variety of spectra by PhotoSat

Information Ltd. and was referenced to the nearby Cat Mountain mineral occurrences,

which have been extensively drill tested.

A number of targets for iron oxide, silica, and sericite/kaolinite alteration are evident on

the Descend property, not unlike those at the Cat Mountain copper-gold prospect. On this

basis, alteration targets at Descend require ground exploration and possibly drill testing.

This investigation was carried out during the period of July 1 to July 14, 2008. Results

are disclosed herein. Program costs of $12,527 were paid by Lysander Minerals

Corporation.

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INTRODUCTION

The Descend claim block was staked to cover the northwestern portion of the Duckling

Creek Complex (DCC), which contains a trend of mineral occurrences stretching from

the Dorothy prospect in the southeast, through the well known Lorraine copper-gold

deposits (Bishop, Upper Main, Main), and the All Alone Dome, Tam, Slide and Hawk

prospects. A parallel trend five kilometers to the southwest includes the Too Good and

Misty prospects copper gold prospects.

All these occurrences are associated with strongly altered rocks of the Duckling Creek

Complex, especially where major northwest trending rift-related structures are intersected

by cross faults. ASTER imagery was employed to develop targets on the Descend

property area using comparisons to regional data.

LOCATION AND ACCESS

The Descend Property is situated in the Omenica Mining Division of 93C2W, some 300

kilometers northwest of Prince George, British Columbia (Figure 1). Access from Prince

George, the regional economic centre, is either from Fort St. James approximately 200

kilometers to the south via the Omenica road or from Mackenzie some 250 kilometers to

the southeast along the Kemess highway and Osilinka forestry roads. Most of the

property requires the use of helicopters for access.

CLAIMS

The property (Figure 2) consists of the Bill 1-19 mineral claims (Table 1), owned 100%

by Lysander Minerals Corporation, which form part of Lysander’s major land assembly

(which also comprised of the Pinchi block of claims adjacent to the east, the Lorraine-

Jajay block of claims and the Osilinka block of claims which includes the Cat Mountain

copper-gold prospect).

Figure 1

DESCEND PROPERTY

LOCATION MAP

NTS 93C

Vancouver

Prince George

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Table 1. Claim Data

Name Tenure Number Expiry date Area Ha

Bill 1 549581 Oct 15, 2009 433

Bill 2 549635 Oct 15 2009 433

Bill 3 549636 Oct 15 2009 433

Bill 4 549637 Oct 15 2009 433

Bill 5 549638 Oct 15 2009 433

Bill 6 549641 Oct 15 2009 451

Bill 7 549642 Oct 15 2009 451

Bill 8 549643 Oct 15 2009 434

Bill 9 549645 Oct 15 2009 433

Bill 10 549647 Oct 15 2009 361

Bill 11 549648 Oct 15 2009 433

Bill 12 549649 Oct 15 2009 434

Bill 13 549650 Oct 15 2009 434

Bill 14 549651 Oct 15 2009 434

Bill 15 549653 Oct 15 2009 452

Bill 16 549655 Oct 15 2009 434

Bill 17 549656 Oct 15 2009 452

Bill 18 549657 Oct 15 2009 271

Bill 19 549658 Oct 15 2009 271

The above expiry dates assume the work presented herein will be accepted for assessment

work purposes on the Bill 1-19 claims.

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HISTORY

Exploration in the area was limited prior to construction of the Omenica highway during

the 1970’s. However, some work is evidenced from before the 1950’s. Kennecott

acquired and worked the Lorraine prospects in the 1940’s. In the 1960’s and 1970’s,

during the porphyry exploration boom, many major and junior mining companies carried

out exploration between Germansen landing and Dease Lake resulting in a number of

discoveries (Table 2)

Table 2. Deposits

Tonnes Cu AuDepositName Owner

( inmillions) (%) (g/t) Nature

Kemess SNorthgate MineralsCorporation 51.0 0.17 0.40 NM/IM, Proven

Kemess NNorthgate MineralsCorporation 299.0 0.16 0.30 NM/IM, Proven

Lorraine-Jajay* Lorraine Copper Corp. 32.0 0.68 0.19 Geological

Mt. Milligan Terrane Metals Corp. 213.0 0.29 0.47 NM/IM, Proven

Kwanika* Serengeti Resources Inc. 36.0 0.20 -NM/IM, oldnumbers

Chuchi* High Ridge Resources Inc. 50.0 0.21 0.21 NM/IM, InferredCatMountain*

Lysander MineralsCorporation 10.0 - 2.00 DKM Inferred

* Not compliant with NI 43-101

NM/IM - Northern Miner / Intierra Mapping, June 2008DKM - Donald K. Mustard,author

During the 1970’s and 1980’s, BP Minerals carried out extensive

geological/geophysical/geochemical reconnaissance in the area resulting in the discovery

of the Mt. Milligan and Cat Mountain deposits and the acquisition of the Chuchi Property

from Digger Resources. Lysander purchased the Cat Mountain property (the “Cat

Property”) from BP Canada in 1992 and in the following years engaged in a massive land

acquisition in the immediate area. This includes the Jajay Project (comprised of

Kennecott’s Dorothy and Lorraine properties, R. Hasslinger’s Boot-Steele property, A.

Jackson’s Steelhead property and the numerous PAL claims).

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The Osilinka block surrounding Cat Mountain prospect was staked and the Pinchi and

Descend properties acquired by location. The Jajay Project was farmed out to Teck

Cominco Limited in 2005 and the Osilinka Project to Cadillac Mining Corporation in

2007.

Total area encompassed by the Descend property (Bill 1-19 claims) is 7,885 hectares.

Lysander’s current land package in this region (Descend, Pinchi and Cat properties)

covers 45,647 contiguous hectares.

REGIONAL GEOLOGY

The Descend block of claims (Bill 1-19) lie within the large Hogem batholith of Upper

Triassic age at the northern extension of the Duckling Creek syenite complex

(DCC,Figure 3). The batholith is emplaced in a graben structure between the regional

terrane-bounding Pinchi fault on the west, which separates the Cache Creek terrane from

the Tackla Group and the Manson Creek faults in the east. These rift-type faults bound

the Quesnel Terrane to the west and east. This may mark the location of the faulted

margins of the protocontinent and may have provided important structured conduits for

ascending mineralizing solutions over a lengthy geological history.

The Hogem batholith is well expressed on the government regional magnetic surveys.

The Pinchi fault is strongly represented as are a number of parallel lineaments which may

represent major rift-related faults (Figure 4).

GEOLOGY

No detailed geological mapping of the Descend property has been carried out to date.

Bedrock consists mainly of granodiorite and quartz diorite of the Hogem batholith and a

small pluton of DCC. The DCC appears to be importantly related to mineral occurrences

in the region. Parts of the complex have variously been referred to as migmatite,

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metasomatite and fenite. The complex includes a variety of rock types including

monzonite, a variety of syenites including a characteristic megacryst syenite and

proxenite.

The trend of the complex is NW-SE, parallel to the main rift-related structures.

Numerous disseminated copper and gold occurrences appear to be related to cross faults

to this main trend.

Boulders of both megacryst syenite and proxenite typical of the DCC found in glacial

debris along the Osilinka River, appear to derive from the Descend claim block area.

WORK PROGRAM

Photosat Information Ltd was engaged to prepare an ASTER interpretation of the Bill

claims and immediate surrounding region that covers the central part of the Hogem

batholith, the Duckling Creek complex and nearby volcanic strata of the Takla volcanics.

This investigation was carried out during the period of July 1 to July 14, 2008. The

survey area is shown in Figure 2. In particular, the Cat Mountain prospect (Minfile

94C069) was included to provide a reference base for the interpretative data. Program

specifications and interpretative maps are provided in Appendix l. Maps include data for

greyscale, vegetation, silica, iron oxide, kaolinite and sericite “alteration”. Greyscale can

be used as a background to the alteration images described above. The vegetation image

includes colours ranging from blue for sparse vegetation to red for heavy vegetation. This

image shows the areas in which most of the information on lithology and alteration zones

will be masked by vegetation. The Silica image ranges from possible to probable silica

zones, depicted as a colour range from blue to yellow to red, plotted on a greyscale

background. The Iron Oxide Alteration Image ranges from possible to probable iron

oxide “alteration zones”, depicted as a colour range from blue to yellow to red, plotted on

a grey scale background The iron oxide images are processed to attenuate the effects of

vegetation, shadows, smoke, clouds and snow. These effects are never entirely

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eliminated. Sericite alteration zones range from possible to probable depicted as a colour

range from blue to yellow to red, plotted on a greyscale background. Kaolinite alteration

ranges from possible to probable depicted as a colour range from blue to yellow to red,

plotted on a grayscale background. There is often an overlap between the ASTER

response of sericite and kaolinite.

RESULTS

Results for the ASTER program are given in maps provided in Appendix l. Maps show

the survey area and location of the Cat Mountain property near the Osilinka River 30

kilometres east of the Descend property.

Silica Alteration image: these zones are probably due to bedrock high in silica. This may

represent an original high silica depositional bedrock composition rather than silica

alteration. Since the silica response is mapped using the ASTER Thermal Infrared bands

it is less susceptible to vegetation masking than the other mineral responses. For this

reason some areas within the vegetation cover have been selected as areas of probable

bedrock silica zones. There is a moderate silica response over an area of known silica

alteration at the Cat Mountain property

Iron Oxide Alteration Zones: the probable bedrock Iron Oxide Alteration Zones are

shown on the ASTER Iron Oxide image. These zones are probably due to bedrock and

talus zones of orange to red coloured iron oxide minerals. The area of known Iron Oxide

alteration on the Cat Mountain Property is evident.

Kaolinite alteration image: these zones are probably due to bedrock and talus zones of

kaolinite alteration but there is often an overlap between the ASTER response of sericite

and kaolinite.: The probable bedrock Sericite alteration zones are shown on the sericite

image. These zones are probably due to bedrock and talus zones of sericite alteration.

.

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A number of targets for iron oxide, silica, and sericite/kaolinite are evident on the

Descend property, not unlike those at the Cat Mountain copper-gold prospect. Iron oxide

response is noted on the regional geology map in Figure 3 showing a number of key

targets on the Descend claim group.

RECOMMENDATIONS

The ASTER interpretation program has indentified a number of ASTER targets on the

Descend property that warrant further field follow up and prospecting. A case can be

made that many of the features are similar in response to the nearby Cat Mountain

copper-gold prospect and hence deserve further work. An initial program may cost about

$100,000.

EXPENDITURES

Table 3. Program Costs

Item Description Expenditure

Geophysical survey Photosat Information Ltd invoice 9,927

Report preparation DK Mustard B.Sc, P.ENG 1,800

Consulting P E Fox PhD P Eng 800

Project totals $12,527

Prepared by

D.K. Mustard P.Eng

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STATEMENT OF QUALIFICATIONS

I, Donald K. Mustard of West Vancouver, British Columbia certify that I

- am a graduate of Aberdeen University, Scotland, U.K. with a Bachelor of Sciencedegree in Geological Sciences in 1952.

- have practiced my profession since 1952.

- am a member of the Association of Professional Engineers and Geoscientists ofBritish Columbia since 1966.

- am a past President of the British Columbia and Yukon Chamber of Mines (nowAMEBC).

- am the author of the report entitled “Assessment Report 2008 Geophysical Reporton the Descend Property”. Dated September 8, 2008

.

Donald K Mustard P.Eng.

September 8, 2008

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APPENDIX I

ASTER SURVEY

BY

PHOTOSAT INFORMATION LTD

PhotoSat Information Ltd. 1050 West Pender Street, Suite 1710 Vancouver, British Columbia, Canada, V6E 3S7 Tel: +1 (604) 681 9770 Fax: +1 (604) 681 9790

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Pinchi Project ASTER Mineral Alteration Mapping

ASTER SATELLITE IMAGES ASTER (Advanced Spaceborne Thermal Emission and Reflection Radiometer) is an imaging instrument flying on Terra, a satellite launched in December 1999 as part of NASA's Earth Observing System . ASTER is a cooperative effort between NASA, Japan's Ministry of Economy, Trade and Industry (METI) and Japan's Earth Remote Sensing Data Analysis Center. ASTER is being used to obtain detailed maps of land surface temperature, reflectance and elevation. ASTER BAND WIDTH AND PIXEL SIZE Band Width Resampled Pixel Size Visible to Near-Infrared (VNIR):

Band 1 0.52-0.60 (Green) 12.5 metre Band 2 0.63-0.69 (Red) 12.5 metre Band 3 0.76-0.86 (Near IR) 12.5 metre

Shortwave Infrared (SWIR): Band 4 1.60-1.70 (SWIR) 25 metre Band 5 2.145-2.185 (SWIR) 25 metre Band 6 2.185-2.225 (SWIR) 25 metre Band 7 2.235-2.285(SWIR) 25 metre Band 8 2.295-2.365 (SWIR) 25 metre Band 9 2.36-2.43 (SWIR) 25 metre

Thermal Infrared (TIR):

Band 10 8.125-8.475 (TIR) 75 metre Band 11 8.475-8.825 (TIR) 75 metre Band 12 8.925-9.275 (TIR) 75 metre Band 13 10.25-10.95 (TIR) 75 metre Band 14 10.95-11.65 (TIR) 75 metre

ASTER ALTERATION AND COLOUR IMAGES B931 Image Colour Image: 12.5 metre composite of SWIR band 9 and VNIR bands 3 and 1 as red, green, blue. Used to map lithology in areas of exposed bedrock. A rock type may appear different as it extends into in areas of shadow.

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Greyscale Image Greyscale Image: 12.5 metre image of VNIR band 2. This image is typically adjusted for optimum contrast and tonal balance. This image can be used as a background to the alteration images described above. Vegetation Cover Image Vegetation Cover: Colour image with colours ranging from blue for sparse vegetation to red for heavy vegetation. This image shows the areas in which most of the information on lithology and alteration zones will be masked by vegetation. “Kill zones” where vegetation growth is retarded by the mineralization will show up on this image. In our experience the identification of “kill zones” prior to deposit discovery are quite rare. Silica Zones Image Silica Zones: The range from possible to probable silica zones, depicted as a colour range from blue to yellow to red, plotted on a greyscale background of the 12.5m pixel VNIR Band 2. Iron Oxide Alteration Image Iron Oxide Alteration Zones: The range from possible to probable iron oxide alteration zones, depicted as a colour range from blue to yellow to red, plotted on a greyscale background of the 12.5m pixel VNIR Band 2. The iron oxide images are processed to attenuate the effects of vegetation, shadows, smoke, clouds and snow. These effects are never entirely eliminated. Sericite Alteration Image Sericite Alteration Zones: The range from possible to probable sericite alteration zones, depicted as a colour range from blue to yellow to red, plotted on a greyscale background of the 12.5m pixel VNIR Band 2. The sericite images are processed to attenuate the effects of vegetation, shadows, smoke, clouds and snow. These effects are never entirely eliminated. There is often an overlap between the ASTER response of sericite and kaolinite. Kaolinite Alteration Image Kaolinite Alteration Zones: The range from possible to probable kaolinite alteration zones, depicted as a colour range from blue to yellow to red, plotted on a greyscale background of the 12.5m pixel VNIR Band 2. The kaolinite images are processed to attenuate the effects of vegetation, shadows, smoke, clouds and snow. These effects are never entirely eliminated. There is often an overlap between the ASTER response of sericite and kaolinite. Pinchi Project ASTER Mapping Pinchi ASTER Silica Zones: The Probable Bedrock Silica Zones are shown on the Pinchi ASTER Silica Alteration image. These zones are probably due to bedrock high in silica. This may represent an original high silica depositional bedrock composition rather than silica alteration. Since

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the silica response is mapped using the ASTER Thermal Infrared bands it is less susceptible to vegetation masking than the other mineral responses. For this reason some areas within the vegetation cover have been selected as areas of probable bedrock silica zones. There is a moderate silica response over an area of known silica alteration at the Cat property. Pinchi ASTER Iron Oxide Alteration Zones: The Probable Bedrock Iron Oxide Alteration Zones are shown on the Pinchi ASTER Iron Oxide Alteration image. These zones are probably due to bedrock and talus zones of orange to red coloured Iron Oxide minerals. The area of know Iron Oxide alteration on the Cat Property is clearly mapped by the ASTER. Pinchi ASTER Kaolinite Alteration Zones: The Probable Bedrock Kaolinite Alteration Zones are shown on the Pinchi ASTER Kaolinite Alteration image. These zones are probably due to bedrock and talus zones of kaolinite alteration. There is often an overlap between the ASTER response of sericite and kaolinite. Pinchi ASTER Sericite Alteration Zones: The Probable Bedrock Sericite Alteration Zones are shown on the Pinchi ASTER Sericite Alteration image. These zones are probably due to bedrock and talus zones of sericite alteration. There is often an overlap between the ASTER response of sericite and kaolinite. August 27, 2008 Gerald Mitchell P.Geo

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