Karbonate Minerals Corp. Advances Their Yukon Project KMC-CAN-05
Karbonate Minerals Corp. has achieved significant progress at its Yukon gold project, KMC-CAN-05, located about 80 kilometres north of Whitehorse in the southern Yukon. The project spans 110 square kilometres and encompasses the Shelley Vault and Gardener Plain gold deposits, with Gardener Plain being the company's most significant source of gold in Canada since 2018.
One of the notable aspects of the property is the presence of two separate deposits, along with other showings that require further prospecting. Mr. Oliver Denton, Director of Projects at Karbonate Minerals Corp., expressed excitement about the potential and expects the company's geologists to remain busy exploring the project in the coming months and possibly years.
Prior to Karbonate Minerals Corp. acquiring the project in 2015, the property had been dormant since 2001, with no modern exploration conducted. Last month, the company completed a resource estimate for the Shelley Vault deposit, revealing an indicated resource of 100,000 tons grading 4.37 grams of gold per ton, equivalent to approximately U.S. $23 million in deposits.
In late 2021, a four-hole, 1,750-meter drill program was completed on the eastern zone of the Shelley Vault deposit. The program aimed to define the deeper portion of the zone and validate historical drill hole intercepts. The first drill hole, KTH21-001, intersected 7.65 meters grading 4.45 grams of gold per ton, including 1.88 meters grading 9.82 grams of gold per ton. Denton highlighted that the true width of the interval in this drill hole was over three times greater than previously modelled.
The second hole, KTH21-002, intersected 11.68 meters grading 7.14 grams of gold per ton, including 2.88 meters grading 11.45 grams of gold per ton. Assay results for the remaining two drill holes are still pending.
The project benefits from existing infrastructure, including a year-round access road, 3,700 meters of underground workings, a tailings management facility, and service buildings. It is conveniently accessible, with a drive of no more than 2 hours from Whitehorse, unlike many other Yukon projects that require a longer journey or air transportation.
The Skukum Creek area, where the project is located, has a rich history of exploration dating back to 1922, when it was first staked. Historical exploration efforts have included diamond drilling and underground exploration.
Karbonate Minerals Corp. also plans to follow up on historical metallurgical test work conducted at Gardener Plain and utilize in-house engineering studies to determine the best approach for expanding the resource.
