The 100% owned Captain Project is located 150 km north of Prince George, British Columbia, in the prolific Quesnel Trough terrane which hosts a number of copper-gold and copper-molybdenum porphyry deposits including the Mt Milligan gold-copper deposit located just 30 km north of Captain. The Company currently controls 3578 hectares (5273.22 hectares) in the politically-safe jurisdiction of British Columbia. The area boasts year-round road access and excellent infrastructure.
Exploration since 2019, and has focused on locating the source of a high grade calc-alkaline kspar-sericite monzonite porphyry inclusion in a post mineral dyke in drill hole C13-03. This intersection and re-logging of previous drill holes C12-03 and C19-03 confirmed the presence, to the east of a central magnetic high, of a large kspar-sericite altered calc-alkaline porphyry system that is co-incident with a magnetic low area measuring 600m by 1300m. Drill holes C20-03, C21-01, and C21-02 in 2020 to 2021, (see Geology Map and sections under the Maps tab), all intersected a gold-copper mineralized kspar-sericite altered monzonite porphyry/feldspar-biotite porphyry at a depth of 250 metres under 30-100 m of overburden and a 100-150m thick phyllic altered envelop.
The most recent holes C21-01 and C21-02 combined with hole C20-03 have outlined a tabular, sericite altered envelop 500 metres thick along a strike length of 800 metres and a width in excess of 1000 metres, and open to the east (500m x 800m x1000m). This represents a large volume of intensely hydrothermally altered latite/monzonite volcanic rocks with thick zones of potassic alteration containing gold-copper mineralization: two 82-85 metre wide zones in the north (“Cross Section A”); and a 90 metre wide zone in the south (“Cross Section B”). This environment indicates the presence of a large gold-copper porphyry system with the lower intersection in drill hole C21-02 indicating the potential for higher grade within the mineralized system.
Orestone plans in the next round of drilling to test the eastern portion of the magnetic low 500-600 metres NNE of the present drill holes.
Table of Significant Drill Hole Intersections
Gold Equiv. g/t
Including +** *****
Prices used in calculating Aueq:
Note: The assay value for a 2m interval in 309-329m was cut from 7.05 g/t to 1.8 g/t gold
HISTORY OF EXPLORATION
The Captain area was the focus of modern exploration since the discovery of Mt. Milligan in the mid-1980’s. Prospecting in the Captain area in the late 1980’s identified copper mineralization with work by various companies followed by the acquisition by Orestone in 2007.
At the Captain Project area is covered by an extensive thick glacial till cover varying from 25 metres to 150 metres thick. Early work consisted of induced polarization and detailed magnetometer surveys which defined a NW trending central magnetic high flanked by smaller magnetic highs to the east and the west.
Early exploration focused on anomalies within the eastern and western magnetic highs which were thought to represent gold-copper mineralization associated with highly altered volcanics and alkaline porphyry dykes and intrusives. This mineralization is similar to the Mt. Milligan gold-copper mine located 30 km to the north of the Captain
However drilling adjacent to the alkaline dyke system intersected a thick envelop of phyllic alteration over an area of 1500m x 2000m which would be more typically related to a calc-alkaline gold-copper system similar to the Red Chris mine than an alkaline system like Mt. Milligan.
The intersection of a high grade copper-gold calc-alkaline monzonite inclusion in hole C13-03 shifted the focus of exploration toward an area around hole C13-03 and resulted in the discovery of the gold-copper bearing porphyry in drill holes C19-03, C20-03 which is coincident with a large, 600m by 1300m magnetic low.
The Captain Project is situated in central British Columbia about 150 kilometres north of the City of Prince George. The two nearest communities are Fort St. James and Mackenzie. Recent clear-cut logging in the main Captain target area has greatly facilitated access through establishing a network of logging roads. Access is via Hwy 93 (North Road) 45 km to the north then 20 km east along the McLeod – Tsilcoh FSR.
The project is 30 kilometres south of the Mt. Milligan gold-copper deposit owned by Centerra Gold - Proven and Probable reserves of 191.0 Mt grading 0.39 g/t Au and 0.23% Cu (Centerra website news release dated Jul 31, 2020)
For the quarter ending Jun 30, 2020 the operation mined 4,140,000Mt (45,369 tpd) at a grade of 0.39 g/t Au and 0.26% Cu producing 35,656 oz Au and 19.1M lbs Cu at an ASIC cost on a by-product basis of US$679/oz Au (Any discoveries at Captain will benefit greatly from the proximity to established infrastructure at Mt. Milligan.
The Captain Project lies within the geological terrane of the Quesnel Trough which stretches from the US border to the Yukon border. The Quesnel Trough is a 1,500 kilometer-long, Mesozoic-aged island arc sequence. Age of mineralization in the belt is 150-230 million years. Captain sits in a back arc sequence where mineralization and porphyry intrusions are covered by volcanic and sedimentary rocks and later glacial cover making exploration difficult. This belt has been described as one of the most prospective geological areas for gold and copper within Canada.
The Quesnel Trough is important from an economic perspective due to its rich endowment of gold/copper (molybdenum) porphyry deposits. These large-tonnage deposits are sought after by major mining companies because of their open pit, low cost operating features and long mine life. The style of mineralization at the Captain Project conforms to the porphyry deposits found in the Quesnel Trough.
Topographic relief in the Captain Project is flat and outcrop is rare with overburden thickness typically ranging from 20 to 150 meters. Geologically, the property falls within the Quesnel Terrane, which is characterized by a Late Triassic to Early Jurassic magmatic arc complex that formed along or near the western North American continental margin in contact to the east with Proterozoic and Paleozoic carbonates.
Because of the lack of outcrop at Captain Project, the geology is based on interpretation of a magnetic survey and widely spaced drill holes. The claims are underlain by basalts and andesites of the Takla Group and multiple intrusive bodies. Limited drilling suggests the large (4 km by 2 km) magnetic feature in the centre of the property is a fresh silicified magnetic diorite intrusive. The numerous smaller, flanking high and low magnetic features on the eastern flank of the central magnetic high represent alkaline and calc-alkaline intrusive dyke swarms and plugs and are the main exploration targets at Captain.
The gold-copper mineralization intersected in diamond drilling in holes C11-01, 13-02, C12-05 and C19-07 at Captain is classic alkali porphyry mineralization and alteration. The alkaline porphyry mineralization in the T1-T2 zone is associated with kspar-magnetite-carbonate-actinolite-chlorite altered volcanics and alkaline porphyry dikes and very fine grained pyrite and chalcopyrite. The presence of magnetite generates strong magnetic responses which guide exploration.
In the calc-alkaline porphyry system seen in hole C12-03, C13-03, C19-03 and C20-03 alteration and mineralization consists respectively of intense sericite-carbonate-kspar alteration with gold-copper associated with fine grained pyrite chalcopyrite sulphides. The calc-alkaline NW trending magnetic low measuring 600 m x 1300m.Two mineralized intrusives have been identified: 1) hypabyssal monzonite associated with the magnetic low with intense sericite-kspar alteration and 20% disseminated sulphides intersected in hole C19-03 and the inclusion in C13-03 and 2) a feldspar-biotite porphyry on the eastern flank of the mag low intersected in C20-03 with strong sericite alteration and kspar overprint with 2-5 % disseminated sulphides.
During 2007 and 2010 Orestone collected Mobile Metal Ion (MMI) and Ah soil samples across the Captain Project. This work defined a strong gold and copper anomaly proximal to the zones of known mineralization. In addition, BC government regional geochemical stream sediment and glacial till samples indicate that strong copper-gold anomalies are present immediately down ice to the northeast from the present Captain drilling area.
Gary Nordin P. Geo., and Bruce Winfield, P. Geo., both Directors of Orestone, are qualified persons under the NI 43-101 guidelines and have written and reviewed the technical content on this webpage.