Focused Exploration for Golden Opportunities
Discovery of gold in 1896 on Bonanza and Eldorado Creeks resulted in the greatest gold rush in the history of gold. The Klondike has produced 13 million ounces of placer gold over the last 100 years: however to date its source has not been discovered. This area of North America is un-glaciated. The exploration challenge is to track the migration of the placer gold to its source.
The Yukon has a long history of mining with excellent infrastructure and a professional and experienced workforce readily available. Many mining companies are actively exploring the Yukon for precious and base metals. The industry is strongly endorsed by the Territorial Government. Land title agreements have been established with indigenous people.
International Gold Resources has four gold properties in the Yukon (demarcated in yellow on the map below):
- The Bonanza Creek Claim Block with 90 claims on 4,500 acres (1)
- The Cathy Claim Block with 150 claims on 7,000 acres (2)
- The Kirkman Claim Block with 40 claims on 1,900 acres (3)
- The Mahtin Claim Block with 112 claims on 6,000 acres (4)
Our work program for 2006 includes soil sampling, geophysics, and geological
mapping.
The Mahtin Property is in the McQuesten mineral belt between Dawson City and Mayo. Brewery Creek is on the western end of the belt with 0.85 million oz of gold, and Dublin Gulch and at the eastern end with 4.1million oz of gold, both are located in the same belt as the Mahtin property -- see map.
Location of IGR's Mahtin property in the Yukon
Exploration work carried out to date on the Mahtin Property consisted of geological, geochemical and geophysical surveys for the gold potential within the claim block. The Mahtin Claim Block comprises of 112 claims on 6,000 acres.
R. A. Doherty, P. Geo., visited the property in 2003 while soil sampling and geophysical surveys were being completed; Chris Ash, P. Geo visited the property in 2004 and 2005 while a soil sampling and trenching program was being completed. Both authors are qualified persons for securities reporting purposes.
The independent report states that the Mahtin property is an excellent exploration target for gold mineralization. The property has significant and widespread gold, arsenic, bismuth, with secondary copper, tungsten, silver, soil and rock geochemical anomalies.
Geochemical soil anomalies are clustered along the northern contact of the quartzmonzonite intrusion with Rabbitkettle Formation calcareous phyllite. There is a good correlation between geology, geochemistry, and geophysical surveys along this contact. The independent report recommends the property be drill tested.
IGR will commence a core drilling program, approximately 3,000 feet (1,000 meters) in July, 2006.
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