BC

Premier East Property

The Premier East project owned by Decade Resources Ltd extends from just north of Stewart to the east side of the former Premier in the Skeena Mining Division, BC. Most of the claim area is underlain by volcanic rocks of Jurassic age which, along the western margin of the claim area, are intruded by Texas Creek Granodiorite. Near the contact volcanic units are partly to completely recrystallized and cut by numerous dykes, sills and irregular masses of fine-to coarse-grained intrusive.

 

The Premier East property contains approximately 600 hectares in 7 separate claims.

 

From historic data as well as field work conducted on the property from 2011 to 2019 the property’s geological setting has a good potential for discovery of an epithermal gold-silver deposit. Establishing the location of the boundary between Betty Creek and Unuk River formations appears to be of paramount importance. The neighbouring historic deposit of Premier-Silbak has been interpreted to be at least partly confined to the upper levels of the Unuk River Formation. It also has a reported up dip towards the property. The claims in this property total 705 ha within 500 m of the open pit over the former Premier gold-silver mine. Published data indicates that the Premier gold mine produced 2.3 million oz gold and 50 million oz silver over its production life. Recent work on the adjoining Premier mine indicates a possible return to production as per Ascot Resource (owner of the Premier property) press releases.

It is recommended that the next exploration program consists of detailed geological mapping and targeted rock sampling that focuses on the mineralization and alteration zones of the northern part of the property.

Copper mineralization occurs on the property in the form of chalcocite, chalcopyrite, bornite, as well as secondary malachite and azurite. Copper mineralization is commonly associated with sericite alteration, fractures and quartz veining on the property area. Strong sulphide mineralization in the form of sphalerite-galena bearing pods along veins carry exceptionally high concentrations of silver.

The results of sampling of the southern part of the claims are very encouraging. Samples collected in this area displayed evidence of abundant mineralization and returned highly elevated amounts of precious and base metals. It has been confirmed that the heavily mineralized sphalerite-galena bearing pods of the veins could carry exceptionally high concentrations of silver. The table below shows the grab sampling for the southern zone of mineralization:

Sample Au Ag Cu Pb Zn
No ppb g/t ppm ppm ppm
A18-159 30 25.3 306 384 489
A18-161 1530 2010 351 9.99% 10.80%
A18-162 243 120.0 7470 3470 2170
A18-163 1010 2340 1370 13.20% 43.70%
A18-164 5.72g/t 716.0 11.60% 13 114
A18-166 2870 303.0 3.73% 5 9
PEKM-1823 2130 6110 1070 4.11% 16.10%
PEKM-1824 80 131.0 1.33% 1730 1750
PEKM-1825 152 92.2 1.62% 2490 1060

The 2018 work resulted in the discovery of a new mineral showing in the northern part of the property. From historic data it appears that the northernmost part of the Premier East property has been poorly explored. Modern recession of the glaciers in the area provide a good opportunity for additional exploration in this area. A substantial portion of this part of the property is characterized by extensive overburden and will need careful future geological exploration. Sampling of this new showing, in close proximity to the Premier mine, is as follows:

Sample No Au Ag Cu Pb Zn
  ppb g/t ppm ppm ppm
PEKM-1813 (float) 8 9.4 145 635 403
PEKM-1814 < 5 115.0 3.43% 68 96
PEKM-1815 < 5 3.9 245 434 95
PEKM-1816 (float) < 5 57.0 8740 10 32
PEKM-1817 < 5 6.1 13 18 8
PEKM-1818 < 5 1.3 155 240 167

A float sample 400 m west of the overburden covered showing yielded 254 g/t silver, 0.1 g/t gold, 7.75 % zinc and 0.91 % lead.

View of rusty, strongly sericite and clay altered volcanic rocks with minor tetrahedrite and galena carrying high silver values.
View looking west towards the Premier Mine property. Premier pit is 500 m west of photo location.
View of the silver bearing vein at the MC # 1 showing.
Another view of the silver bearing vein at the MC # 1 showing.
Photo showing historic trenching along the MC # 1 vein.
Photo showing historic drill pad used to drill the MC # 1 showing.

*Click on map to view full size