The Snowbird High Grade Gold Project consists of eight mineral claims, comprising 3,018 hectares, located approximately 20 kilometres west of Fort St. James, in central British Columbia. Gitennes has an option with a private company to earn a 100% interest in Snowbird. The Project is accessible year round via paved and dirt roads and sits at a relatively low elevation with moderate relief (not exceeding 190 metres) allowing access to all parts of the property and enabling cost effective diamond drilling programmes.
Gitennes optioned the Snowbird Property in early 2017 and through three exploration programmes it has completed mapping, sampling, ground geophysics and 5,000 metres of diamond drilling.
Gitennes can earn a 100% interest in the Snowbird Project by making share payments and incurring exploration expenditures as follows:
||Number of Common Shares to be Issued
||Minimum Exploration Expenditures to be Incurred
|TSXV acceptance of Option Agreement
|On or before September 30, 2018
|On or before September 30, 2019
|On or before September 30, 2021
Upon making the above share issuances and exploration expenditures, Gitennes will own 100% of the Snowbird Project subject only to a 2% net smelter returns (“NSR”) royalty to a maximum of $1,300,000 and reverting to a 1% NSR royalty with no cap thereafter.
Snowbird is an orogenic high grade gold property similar to the Motherlode District in California, the Bralorne Mine and Atlin District, British Columbia (all multi-million ounce gold producers) and has four characteristics similar to those analogies.
- 5,050 g/t gold over 0.2 m
- 20 g/t gold over 2.0 m
- 16.3 g/t gold over 4.0 m
||Well defined, up to 100 metres wide, 4.8km long
||Strong, quartz-carbonate-sericite = Mariposite = Motherlode Assemblage
|D) Depth Potential
- Snowbird has finally been drilled deep - prospective zone intersected
- Potential is very good to find more high grade gold
Snowbird has gold in drill holes, trenches and adits. The majority of the drilling has been carried out in the Main Zone and drilling has been shallow – until now, non-geologically directed in and around Main Zone.
Select historical Drill intersections:
|Gold Grade (g/t)
- STRUCTURE IS KEY IN OROGENIC GOLD SYSTEMS
- PREVIOUS EXPLORATION OUTLINED STRUCTURE FOR 2.3 KM
- GITENNES INTERPRETATION OF HISTORICAL AIRBORNE MAG EXTENDS STRUCTURE ADDITIONAL 2.5 KILOMETRES
- NW-SE STRUCTURE CONTROLS MINERALIZATION AT SNOWBIRD - STRUCTURE IS UP TO 100 M WIDE
- GITENNES HAS A GOOD UNDERSTANDING OF CONTROLS ON MINERALIZATION
- HIGH GRADE GOLD IS IN QUARTZ-CARBONATE VEINS – MOSTLY AT CONTACT BETWEEN ALTERED ULTRAMAFICS AND HANGING WALL SEDIMENTS
Gitennes 2017 ground MAG highlights the structure and alteration.
Alteration and Depth Potential
2019 Drilling Highlights
- Quartz-carbonate veins which host gold mineralization at Snowbird intersected multiple times in all ten drill holes;
- 19.3 g/t gold over 0.6 metres in hole SB19-06
- 18.3 g/t gold over 0.5 metres in hole SB19-06
- 9.7 g/t gold over 1.2 metres in hole SB19-07
- Including 12.95 g/t gold over 0.7 metres
- Hole SB19-10 – deepest drilled to date at Snowbird – 400 metres;
- intersected intense veining over a length of 39 metres in drill core
- encountered pyrite-arsenopyrite in association with quartz-carbonate veining at depths never sampled before
- 1.53 g/t gold over 0.92 metres at a depth of 239 metres indicating the potential for high grade gold mineralization deeper in the structure.
- SB19-10 did not cross the ultramafic body into the mudstone - possibility of expansion of gold mineralization along the contact at depth
- Strong relationship between faulting, shearing and contacts observed with veining and zones of quartz-sericite and/or mariposite alteration with , calcite, pyrite and antimony;