Princeton Property

Princeton Property 2018-11-30T12:28:20+00:00

Property Overview

The Princeton Gold Property consists of 14,650 hectares and lies 35 kilometers south of Princeton, British Columbia and 11 kilometers south of the producing Copper Mountain Copper Mine. The property is underlain by both Eocene Princeton Group volcanics and Triassic Jurassic Nicola Group volcanics. While there is little historical evidence of mineral discoveries in the Princeton Group volcanics, recent mapping by the British Columbia Geological Survey and by Tasca geologists suggests the quartz vein mineralization is hosted or intimately related to the Princeton volcanics.

Property Highlights

  • Held by Vendor since 2008 with $484K in cumulative exploration expenditures to date
  • Quartz discovery in fall 2010 with boulder highlight of 25,240 ppb Au
  • Currently one zone of in place quartz veins and four zones of abundant quartz float along a 3 km quartz corridor
  • 26 of 37 samples assayed in excess of 1,000 ppb Au with 10 of those assaying in excess of 10,000 ppb Au
  • Drilling permit in place

Early Area 2 Sampling

The Area 2 samples were collected from three separate locations consisting of angular float, sub crop or outcrop of rusty weathered, limonite stained quartz with trace to 5% very fine grained disseminated pyrite. Several of the samples exhibit remnant vugs or cellular boxwork structure. A 2011 grid soil sampling survey indicates Area 2 hosts multiple, linear, parallel gold-in-soil anomalies with the strongest anomaly striking a minimum of 500 metres to a maximum of 650 metres in a northwestern direction.

September 2018 Trenching

  • The most significant result from this program is a quartz vein assaying 217 g/t gold over 0.9 metres. A second sample three metres along the vein ran 99.7 g/t gold also over 0.9 metres.
  • Two angular quartz float samples assayed 115.5 g/t gold and 108.5 g/t Au.
  • The 2018 trenching program combined with the 2011 surface program, has resulted in the collection of 53 in-place or angular quartz vein samples. Thirty-eight of the samples exceeded 1 g/t gold, with 24 of the 38 exceeding 10 g/t gold to a maximum of 217 g/t gold.
  • Zone traced over 120 metres, overburden exceeded the 6 metre reach of excavator

A total of 51 bedrock samples and 5 float samples were taken and submitted to the ALS Minerals Laboratory in North Vancouver, B.C. for AuME TL-43 analysis with an upper limit of 1 g/t gold. Seventeen of the 56 samples returned value in excess of 1 g/t gold and were subsequently analyzed with procedure Au-AROR43 with an upper limit of 100 g/t gold. Three samples returned values in excess of 100 g/t gold, with a fourth sample reporting at 100 g/t gold. These four samples returned values of 99.7, 108.5, 115.5 and 217 g/t Au through procedure Au-GRA21. Final sampling details can be found in the following table:

Trench

Distance

Description

m width

g/t Au

Trench

Distance

Description

m width

g/t Au

PM1 0 to 1 andesite

1

0.009

PM3 0 to 1 andesite

1

0.156

PM1 1 to 2 andesite

1

0.007

PM3 1 to 2 andesite

1

0.092

PM1 2 to 3 andesite

1

0.019

PM3 2 to 3 quartz vein

1.1

2.6

PM1 3 to 4 andesite

1

0.075

PM3 3 to 4 andesite

1

0.442

PM1 4 to 5 andesite

1

14.55

PM 4 0 to 1 andesite

1

0.144

PM1 5 to 6 andesite

1

0.074

PM 4 1 to 2 andesite

1

0.714

PM1 6 to 7 andesite

1

0.071

PM 4 2 to 3 quartz vein

0.5

11.65

PM1 7 to 8 andesite

1

0.01

PM 4 3 to 4 andesite

1.2

0.168

PM1 8 to 9 andesite

1

0.016

PM 4 4 to 5 quartz vein

0.3

0.235

PM1 9 to 10 andesite

1

0.004

PM 4 5 to 6 andesite

1

0.056

PM1 10 to 11 andesite

1

0.006

PM 5 11 to 12 andesite

1

1.56

PM1 11 to 12 andesite

1

0.01

PM 5 12 to 13 andesite

1

0.058

PM1 12 to 13 andesite

1

0.009

PM 5 13 to 14 andesite

1

0.047

PM1 13 to 14 andesite

1

0.004

PM 5 14 to 15 andesite

1

0.112

PM 2 0 to 1 andesite

1

0.009

PM 5 15 to 16 quartz vein

0.15

12.95

PM 2 1 to 2 andesite

1

0.018

PM 5 16 to 17 andesite

0.85

0.203

PM 2 2 to 3 andesite

1

0.065

PM 5 17 to 18 andesite

1

0.278

PM 2 3 to 4 quartz vein

1

48.1

PM 6 9 to 10 andesite

1

0.061

PM 2 4 to 4.5 quartz vein

0.5

16.25

PM 6 10 to 11 andesite

1

0.056

PM 2 4.5 to 5.5 andesite

1

4.22

PM 6 11 to 12 quartz vein

0.3

21.6

PM 2 5.5 to 6.5 andesite

1

0.049

PM 6 12 to 13 andesite

1

0.61

PM 2 6.5 to 7.5 andesite

1

0.033

PM 6 13 to 14 andesite

1

0.145

Pit 1 andesite

0.55

0.088

PM 6 quartz composite

grab

2.99

PM2 ext quartz vein

0.9

217

quartz boulder float

grab

0.643

PM 2 ext quartz vein

0.9

99.7

quartz boulder float

grab

0.235

Pit 1 quartz stringers

0.75

13.85

quartz boulder float

grab

108.5

quartz boulder float

grab

37.1

quartz boulder float

grab

115.5

PM 16 andesite

1

0.414

PM 17 andesite

grab

1.79

The trenching was able to trace the main vein structure approximately 120 metres along strike before the vein zone disappeared beneath thick overburden cover in both directions. Trenches were cut perpendicular to vein strike with short distances opened in each direction along the vein where possible. Mineralization is confined to the quartz veins or within the first metre of the andesitic host rock. The quartz vein ranges from 0.3 to 1.8 metres in width and consists of white quartz with limonite fractures and irregular limonitic patches and a rare vuggy texture.
Two other areas highlighted by anomalous rock samples or soil samples were tested. Overburden thicknesses were beyond the limit of the excavator boom so bedrock was not reached. These areas will need to be tested by diamond drilling.

Tasca cautions investors float samples are grab samples and may not be representative of mineralization on the Princeton Property.

R.Tim Henneberry, P.Geo. (BC), a member of Tasca’s Advisory Board, is the Qualified Person who has reviewed and approved the technical content on this website.

Symbol Company Last price Change Change (%) Open Low High Volume

Stock price for…