Lydy/McFarlane, British Columbia
Molybdenum
Lydy
The Lydy property comprises a total of 1,205.5 ha (2,969 acres) located approximately 10 km east of Kootenay Lake and 68 km west of Cranbrook on the relatively well maintained Grey Creek Pass Forest Service road.
The property (and the McFarlane property - see below) is located east of a prominent aeromagnetic anomaly associated with the Crawford Stock, a biotite granite intrusion of Cretaceous age correlated to the Bayonne Magmatic Belt. Many of the Cretaceous intrusions of the Bayonne Magmatic Belt have strong aeromagnetic signatures and are associated with anomalous molybdenum mineralization. Furthermore, the property is located immediately south of, and contiguous with, Eagle Plains Resources Ltd’s Sphinx property, for which an Inferred Resource of 62,005,615 tonnes grading 0.035% Molybdenum, using a cut-off grade of 0.01% Molybdenum, was recently announced. The resource is associated with an interpreted Cretaceous age intrusive body, with mineralization occurring as “disseminations and within quartz-pyrite stockwork veins hosted by both sedimentary and intrusive rocks”.
A limited 2005 program included soil sampling (125 samples) and NQ diamond drilling (6 holes totaling 1,165.8 metres). Samples were taken along the existing road network and confirmed the anomalous tungsten values previously reported by Cominco Ltd. In addition, anomalous bismuth and copper values were identified.
The short diamond drill program identified no molybdenum mineralization or felsic intrusive lithologies in any of the holes, however, the presence of pyrrhotite, idioblastic biotite porphyroblasts and variable chloritic alteration is interpreted as indicative of a location within a thermal aureole in relative proximity to a felsic intrusive, probably a quartz monzonite correlative to the Cretaceous Bayonne Magmatic Belt. In addition, a carbonate breccia unit with a porphyritic diorite and possible bedded massive sulphide breccia fragments were intersected in LYDY 05-01 and are interpreted as a possible olistostrome, derived from a high standing block of Mount Nelson Formation, Toby Formation and/or lower Horsethief Creek Group strata.
The 2006 program consisted of an Aeroquest International airborne geophysical survey completed on the property, comprised of electromagnetic and magnetic data. The data documents prominent magnetic and EM anomalies, generally elongate to linear, within the north-trending mapped geology. Eagle Plains has reported their Inferred Resource to be associated with a quartz monzonite having a very small surface exposure approximately 1,300 m north of the Lydy property. The sub-surface projection of the mineralized quartz monzonite and surface geochemistry, as documented on Eagle Plains web-site, extends south-southwest along the west side of Baker Creek toward the Lydy property.
A prominent and very strong magnetic anomaly is evident on the Aeroquest data, extending essentially north-south and may have a sharp, possibly faulted, eastern termination. Underlying the majority of the property is a broad magnetic low, sub-parallel to the geology as previously mapped. However, a spatially coincident EM high is oriented slightly oblique to the magnetic anomaly and has a subtle anomaly trending south-southwest which may represent a response to the mineralized Cretaceous intrusive. According to the Eagle Plains interpretation, the quartz monzonite may have been intruded along a fault oriented north-south, therefore, the prominent north-south oriented magnetic anomaly is interpreted to represent the airborne expression of a nearly blind (largely unexposed) Cretaceous intrusive quartz monzonite. As such, the ridge along the west side of the Lydy property, immediately south of, and contiguous with, the ridge line being actively drilled by Eagle Plains may host the mineralized intrusive. Such an interpretation is consistent with results from the 2005 drill program in which proximity to a causative heat source was interpreted based on drill core. A drill program to evaluate the mutual Lydy / McFarlane property boundary is expected to document the presence of a Cretaceous intrusive body. As such, the results of the Aeroquest survey are considered very interesting and indicates further drilling on the property is warranted.
McFarlane
TThe property is located immediately east of Kootenay Lake and immediately west of, and contiguous with, the Lydy property. The property comprises 3,058 ha (7,556 acres) located immediately adjacent to, and partially overlapping, the Crawford Bay Stock, a Cretaceous age granitic intrusive.
The property has had previous work completed, which resulted in identification of surface soil anomalies for molybdenum, copper, lead, zinc and limited tungsten, between McFarlane and Birkbeek creeks. Subsequent diamond drilling in 1981 returned anomalous molybdenum values grading up to 8,000 ppm over 1.22 m.
Previous soil and diamond drill programs have documented anomalous molybdenum plus tungsten in the area currently covered by the property. Furthermore, the property’s western boundary is located approximately 1 km west-southwest of the area of active drilling on the Sphinx property, for which an Inferred Resource of 62,005,615 tonnes grading 0.035% Molybdenum, using a cut-off grade of 0.01% Molybdenum, was recently announced. The resource is associated with an interpreted Cretaceous age intrusive body, with mineralization occurring as “disseminations and within quartz-pyrite stockwork veins hosted by both sedimentary and intrusive rocks”.
A total of seven holes, comprising approximately 1,820 metres, were completed on three pads located in the western portion of the claims, in the vicinity of the old Ben Derby (MINFILE 082FNE125) molybdenite occurrence. High grade, narrow molybdenum-bearing veins were identified and sampled, generally characterized by sericitic margins, up to approximately 6 cm thick, on either side of the veins.
The program returned a relatively large number of high grade, narrow molybdenum intercepts, with the thickest intercept returning a weighted average values of 0.217 ppm molybdenum over 7.71 m (25.30 feet). Furthermore, many of the intervals for which weighted average values were calculated returned high grade silver as well, to a maximum of 354.24 oz/t over 0.74 m in hole # 6.
The results of this preliminary drill program confirm previous reports of narrow, high grade molybdenum values previously reported from the property. Descriptions of the host rock around these high grade veins suggests there may be lower grade, molydenum bearing haloes around some or all of the intervals sampled.
The holes completed in 2006 represent the initial holes drilled on the property by the Company and were intended to follow up results of a limited soil sampling program completed on the property in 2005. Further soil sampling was completed during the 2006 field program and combined into a database with the results of previous soil sampling.
A total of 189 soil samples were recovered along both roads and contours and continue to document anomalous values for molybdenum (less than 393 ppm), copper (less than 120 ppm), lead (less than 141 ppm), zinc (less than 914 ppm), silver (less than 2.3 ppm), gold (less than 18 ppb) and tungsten (less than 50 ppm). Many of the results, although of low grade and abundant, are interpreted to suggest the possibility of a mineralized halo.
In addition, an Aeroquest International (“Aeroquest”) airborne geophysical survey was completed on the property, together with the nearby Lydy property. The resulting data document a strong magnetic signature, interpreted to represent the Crawford Stock, extending from Kootenay Lake into the western portion of the claims, consistent with interpretations from previous limited mapping in which intrusive lithologies were identified at surface on the property. Prominent magnetic and EM anomalies are evident, oriented north-south, sub-parallel to the previously mapped geology. There is a strong association between magnetic and corresponding EM anomalies, although generally not coincident, which is interpreted to reflect anomalies within individual stratigraphic formations underlying the property. At this time, it remains uncertain whether these anomalies are inherent to the strata or if they reflect anomalies associated with alteration and/or mineralization due to proximity to Cretaceous intrusive bodies correlated to the Bayonne Magmatic Belt.
Review of the drill hole data with regard to the airborne geophysical results suggests the holes were collared along the eastern fringe of the Crawford Stock. There appears to be a strong eastward trending magnetic response which terminates in the vicinity of the Ben Derby (MINFILE 082FNE125) molybdenite occurrence. The seven holes comprising the 2006 drill program were drilled along the eastern and southeastern fringe of an apparent donut-shaped magnetic low along the eastern margin of the Crawford Stock. Finally, the best drill results from the 2006 program were documented along the western edge of a moderate magnetic band which may represent the mineralized fringe of the Crawford Stock. This general area constitutes an area of interest for further review and evaluation, particularly with regard to the 2006 soil sampling program, for which results are expected in the near future.
As a result of the surface soil and sub-surface drill hole data, a small claim in the heart of the property was acquired from two prospectors in the fall. In addition, an additional mineral tenure was acquired to cover a number of interesting geophysical anomalies identified on the western edge of the property.
The remainder of the property is characterized by curvilinear, broadly coincident magnetic and EM anomalies, many with apparent hook-shaped terminations. In detail, the magnetic and EM anomalies are slightly displaced, and may even be slightly oblique, to one another. This may reflect changes in the respective responses with depth and/or the effects of alteration, and perhaps mineralization, due to fluids sourced from the intrusion. The hook-shaped terminations are interpreted to represent fold closures in which the eastern limb has been truncated due to faulting. Juxtaposition due to faulting has been documented within the upper Purcell Group along the east shore of Kootenay Lake, so this speculative interpretation is consistent with previous regional mapping, but has not been confirmed on the property. If correct, such fold closures may represent favourable locations for mineralization.
Jasper Mining Corporation, trading symbol: JSP
Return to Main Property Page
|
