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FREEMAN CREEK PROPERTY

Freeman Creek Property

Gold, Silver, ± Copper

The Freeman Creek Property consists of 106 claims totalling approximately 862.4 hectares (2,131 acres) and covers primarily BLM Lands, within mining friendly Lemhi County, Idaho, USA. The Property is located approximately 15 km northeast of Salmon, Idaho, and is accessible via paved highway and a network of gravel roads and trails.

The region is host to the northeast trending Trans-Challis Fault System, which demarcates the approximate boundaries of a large metallogenic (Au-Ag) province. The region boasts a long history of both hard-rock and placer gold mining with several notable discoveries including Revival Gold’s Beartrack-Arnett Project, Freeman Gold’s Lemhi Gold Project, and Ophir Gold’s Breccia Gold Project. The mineralized setting at Freeman Creek is interpreted to be associated with a high sulfidation gold system, which generally form a vertical continuum from a shallow epithermal setting downward to porphyry Cu/Au deposits

The Freeman Creek Property hosts two major mineral prospects; the Gold Dyke Prospect, with an historical drill intercept of 1.5 g/t Au and 12.1 g/t Ag over 44.2 m and surface sample results including 10.9 g/t Au, 80.1 g/t Ag, and 0.72% Cu; and the Carmen Creek Prospect, with surface sampling results including 5.5 g/t Au, 159 g/t Ag and 9.75% Cu; and 7.08 g/t Au, 59.5 g/t Ag and 1.53% Cu.

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Gold Dyke Prospect

The gold and silver occurrences at the Gold Dyke Prospect are hosted by Precambrian Lemhi Group meta-sediments and quartzites and has seen early development and sporadic exploration from about 1910 to 1986. The base and precious metal mineralization is interpreted to be the result of hydrothermal alteration and is hosted by strongly silicified meta-sediments containing common vugs, quartz veining, and minor sulphides (pyrite, chalcopyrite).

Historical exploration, circa 1910, included the completion of several open cut trenches and adits into the known mineralization. The historical sampling reported from these trenches includes 6.86 g/t Au and 199 g/t Ag over 7.0 m; 5.49 g/t Au and 130 g/t Ag over 5.8 m; and 19.9 g/t Au, 65 g/t Ag, and 1.05% Cu over 3.7 m. In addition, a grab sample collected from one of the open cuts assayed 60.0 g/t Au and 1,440 g/t Ag.

During the 1970’s and 1980’s exploration included a limited number of shallow (<150 m) drill holes along two north-south orientated fences, spaced less than 200 m apart. Reverse circulation drill holes RDH 8 and RDH 10 are the eastern most holes documented historically and also returned the strongest grades from the drilling completed during this period at the Gold Dyke Prospect. A summary of historical drill results follows:

  • Hole #1 (1970’s):   0.46 g/t Au, 7.1 g/t Ag, and 0.10% Cu over 13.7 m
  • RDH 8 (1980’s):    1.5 g/t Au and 12.1 g/t Ag over 44.2 m
  • RDH 10 (1980’s):  1.7 g/t Au and 17.1 g/t Ag over 21.3 m

A small historical resource (non NI 43-101) containing about 20,000 oz of gold, 190,000 oz of silver, plus lead-zinc-copper by-products was estimated based on drill holes RDH-8 and 10. Tonnages and grades reported range from 325k to 416k tons and 0.9 to 2.6 g/t Au, respectively (HB files, 1987). Previous operators calculated a historical resource “in excess of 15,000,000 tons” based solely off “exposed adits and surfaces free of overburden”. No details of grade or contained ounces of gold was reported
(Preliminary Report of Porphyry Dike Property, 1962).

Management cautions that the historical estimates documented for the Gold Dyke Prospect have not been independently verified by a Qualified Person and were not completed in accordance with NI 43-101 Standards of Disclosure for Mineral Projects and therefore should not be relied upon. The historical estimates are not mineral resources and should therefore not be treated as such.

 

Field exploration completed in October-November 2020 by Gaia Metals Corp consisted of rock and soil sampling, a ground magnetic survey, and four (4) diamond drill holes totalling 457 m. The surface work identified a strong and extensive (800 m x 700 m) gold soil geochemical anomaly at Gold Dyke, and also returned surface rock sample assay results including 10.9 g/t Au, 80.1 g/t Ag, and 0.72% Cu; and 4.32 g/t Au and 292 g/t Ag.

In addition, each 2020 drill hole intersected near-surface zones of variably altered metasediments, with common to abundant quartz veining, silicification, sulphides, and brecciated/vuggy textures. The zone remains open in all directions and has been drill tested over a strike length of ~250 m. Highlights of drill core analysis include:

  • 1.12  g/t  Au  and  9.0  g/t  Ag  over  47.6  m  starting  from  surface, including 4.11 g/t Au and 33 g/t Ag over 12.0 m (drill hole FC20-003)
  • 0.46 g/t Au and 7.6 g/t Ag over 14.1 m starting from surface, including 2.08 g/t Au and 18 g/t Ag over 2.0 m (drill hole FC20-002)
  • 0.56 g/t Au and 19.3 g/t Ag over 9.0 m (drill hole FC20-001)

The high-grade precious metal mineralization present in drill holes is indicated to be primarily associated quartz veining rich in sulphide (pyrite, galena, sphalerite) hosted within heavily altered metasediments.

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Carmen Creek Prospect

The Carmen Creek Prospect is located approximately 3 km northeast of the Gold Dyke Prospect and is the site of a past-producing mine. A small mill was installed at the site in 1910 to process gold ore from the mine, initially discovered in 1904; however, few records exist detailing the Carmen Creek Mine’s development, production, or head grade.

Historical samples from surface outcrop and mine workings include 14.15 g/t Au, 63 g/t Ag, and 1.2% Cu; and 1.8 g/t Au, 43 g/t Ag, and 1% Cu, respectively

The style of mineralization at Carmen Creek is described as “a gold and copper bearing exhalate zone, a few tens of meters thick…”. At the mine, the “gold and copper are concentrated in lenses of massive quartz and magnetite” (Johnson et al. 1998)

Surface exploration completed in October-November 2020 by Gaia Metals Corp has identified multiple, closely spaced and parallel trending mineralized structures/vein(s) over a mapped strike length of at least 1.2 km, which are open at both ends. 

Surface sampling results along the trend include: 

  • 5.5 g/t Au, 159 g/t Ag and 9.75% Cu
  • 7.08 g/t Au, 59.5 g/t Ag and 1.53% Cu
  • 2.00 g/t Au, 269 g/t Ag, and 11.4% Cu.

The Carmen Creek Prospect has never been drill tested and permitting is underway for an inaugural drill campaign by the Company.

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