Posted by: lillooetproject | March 13, 2009

Exploration Targets

The PL#9790 deposit is located on the east bank of the Lillooet River about 6.5 kilometers north of the delta. It is identified with a recent terrace formed by alluvium from the Lillooet River. During post glacial time the plain of the valley rose with the terraces and the river gradually established its proper bed in the detrital, sand and gravel. A narrow valley was formed, blocked on one side by the wall of the terrace (PL#9790) and on the other by the steep slope of the Coast Range Mountains. The elevation difference between the river bed and terrace surface is about 60 – 70 meters.

 

The terrace surface (PL#9790) is imprinted with at least 3 funnel or vortex like depressions, believed to be formed at the end of the last glacial period, one of which is the area of current activity. The vortex structure has a diameter of approximately 300 meters with an extension of 12 hectares and is 25 meters deep. Clay and silt layers ore intercalated between cobble and boulder beds. Gold is distributed throughout the structure and black sands are also present.

 

The present pit on PL#9790 is the largest and central vortex of three identified to date. The bedrock platform is inferred 35 -40 meters below the present pit bottom. Another less prominent one to the south is flatter and has a measured diameter of 400 meters. A number of other bar like gravel terraces have been investigated on MRG’s property holdings between PL#9790 and the outlet of Lillooet Lake 10 kilometers up stream. These terrace areas are located at higher elevation along both valley flanks, are auriferous and have similar boulder suites. Pyrite is present in these upstream deposits whereas it is absent on PL#9790 and the delta area.

 

Recovered Grade

Gold                                         3.0 gm/ton

Silver                                        1.0 oz/ton

Platinum                                   0.2 gm/ton

Magnetic Concentrate               30 kg/ton

 

 

Ore Reserves (PL#9790)

 The indicated ore reserves to a depth of 25 meters have been calculated at more than 150 million tones containing recoverable values of gold, silver, platinum and magnetite. Results suggest that the deposits precious metals values may increase with depth and is open below the 25 meter level. PL#9790 could provide a long term source of feed for the Company’s proposed 40,000 ton per day facility.

Advertisements

Categories

%d bloggers like this: