YUKON — The former Brewery Creek gold heap leach operation, owned by Alexco Resource Corp., 55 km east of Dawson City is the subject of a new 43-101 tecnical report that is generating new interest. Vancouver-based Golden Predator Royalty and Development Corp. produced the report.
The Brewery Creek mine produced 279,541 oz of gold from 1995 through 2002 from oxide ore. The new report summarizes all past exploration and production, and describes the previously announced indicated resource of 3.98 million tonnes grading 1.135 g/t Au (145,000 contained oz) and, in the North Slope zone, an inferred resource of 2.2 million tonnes grading 2.01 gm/t Au (142,000 contained oz), using a cutoff grade of 0.5 g/t Au.
In light of new structural and geochemical models and exploration concepts, the current depth of drilling is considered inadequate to properly assess the sulphide potential along the main reserve trend, according to Golden Predator. Peripheral exploration targets including the North Slope, Classic and Bohemian-Sleemans Trend contain oxide and sulphide gold mineralization that has not been fully drill defined and remains open ended. A phase one exploration program of $1,037,300 is proposed.
Golden Predator subsidiary True North Mining has signed an option on the Brewery Creek property. It will supply the funding for phase one as part of the agreement that will ultimately give it a 75% interest in the Brewery Creek project in three stages as well as a 50% interest in certain barite deposits.