ArcWest Partner TDG Gold Corp. Completes Drilling at Drybrough Target, Oxide Peak Project, Toodoggone District, B.C.
Vancouver, December 16, 2021 - ArcWest Exploration (TSXV: AWX) ("ArcWest") announces that partner TDG Gold Corp. (TSXV: TDG) ("TDG") has successfully completed drilling at the Drybrough target, in the southern part of the ArcWest's 100% owned Oxide Peak Project in the Toodoggone District, northern B.C. TDG was required to complete 1,000 metres of diamond drilling before December 31st, 2021 under its earn-in agreement for Oxide Peak (see ArcWest news release December 23, 2019).
The Toodoggone gold-copper district hosts extensive Early Jurassic porphyry copper-gold (Cu-Au) and epithermal gold-silver (Au-Ag) mineralization including several past producing Au-Ag mines (Baker, Lawyers, Shasta) and the large Kemess South Au-Cu porphyry deposit. The southern half of the Oxide Peak project adjoins Benchmark Metal's Lawyer's project. Historical production in the district exceeds 3.2 million ounces of gold and 360,000 tonnes of copper.
The Drybrough drill site is located approximately 3.5 kilometers north of a fully winterized camp at TDG's past producing Baker gold mine, and approximately 7 km southeast of Benchmark Metals' Lawyers project. Benchmark Metals recently closed a $40 million bought deal private placement including a strategic investment by Yamana Gold. TDG's press release announcing the completion of the Drybrough drill program can be viewed here. TDG is operator for exploration at Oxide Peak and is responsible for the design and implementation of exploration programs on the property.
The Drybrough porphyry Cu-Au target is a magnetic high about 1.0 kilometers across which is flanked by surface gossans originally mapped by Dupont in 1983 (Drown, 1983). The magnetic high and associated gossans are in Early Jurassic dacites of the Saunders Member of the Lower Toodoggone Formation. The drill site is located 450 meters north of the unconformity with underlying Triassic Takla Group mafic volcanics, a key stratigraphic marker for porphyry exploration in the Toodoggone and Golden Triangle. In 1983 Dupont drilled two shallow drill holes (139 meters total) about 800 meters west of the present drill site, targeting an argillic alteration zone outcropping at surface, containing anomalous mercury and arsenic. Drilling intersected a zone of intense advanced argillic alteration (kaolinite, alunite, dickite, quartz and hematite) flanked by chlorite alteration in dacite porphyry (Drown, 1983). Local gypsum veining was also documented. Limited core assays reported anomalous values in silver (to 9.5 parts per million; ppm) and mercury (to 8.0 ppm).
Tyler Ruks, President of ArcWest, comments: "The presence of significant gossans, advanced argillic alteration and a magnetic anomaly in close proximity to the Triassic-Jurassic unconformity are features Drybrough has in common with other high level porphyry systems in the Toodoggone district. As Bouzari et al. (2019) showed, shallow level porphyry Cu-Au systems are exposed at the Baker and Black Gossan zones, which are situated just two kilometers to the south and southeast of the Drybrough target area, respectively. Proximity to these systems makes the Drybrough zone an intriguing target area that is deserving of additional exploration. ArcWest's 100% owned Oxide Peak project is host to multiple, additional porphyry copper-gold targets which have never been drilled."
The Oxide Peak project is host to a number of prospective porphyry Cu-Au targets that are highly deserving of additional exploration. At the Oxide Peak target, in the northwest part of the project area, a multiphase intrusion cores an extensive zone of quartz-sericite-pyrite (QSP) and advanced argillic alteration surrounded by sericite-chlorite and propylitic alteration. Gold-arsenic-tellurium is anomalous at higher elevations, with copper-molybdenum below, reflecting a vertical transition from epithermal to porphyry environments. Along the northern periphery of the target area, copper values >0.1% occur in multiple grab samples (outcrops) over 200 meters in Oxide Creek. Here, chalcopyrite mineralization is associated with multistage quartz-sulfide veining and relict K-feldspar-biotite-magnetite alteration hosted in variably brecciated, porphyritic monzodioritic intrusions. Strong quartz-sericite-pyrite/sericite-chlorite-pyrite alteration overprints potassic alteration in this zone. This, combined with the presence of high pyrite to chalcopyrite ratios, suggests potential for increased copper-gold grades with depth or laterally as the system transitions to potassic dominant alteration. The Oxide Peak porphyry copper-gold target has not been tested by drilling. Other early stage targets on the Oxide Peak project include the Falcon porphyry copper-gold target as well as grassroots high grade gold-copper targets with gold values in grab samples up to 46.1 grams per tonne (see Oxide Peak presentation on ArcWest's web site for details).
References
Bouzari, F., Bissig, T., Hart, C.J.R., Leal-Mejia, H. (2019). An Exploration Framework for Porphyry to Epithermal Transitions in the Toodoggone Mineral District (94E). Geoscience BC Report 2019-X, MDRU Publication 424, 101 p.
Drown, T.J. (1983). Diamond drilling report on the Chappelle claims, B.C. Ministry of Energy, Mines and Petroleum Resources Assessment Report 11598.
About ArcWest Exploration Inc.
ArcWest Exploration is a project generator focused on porphyry copper-gold exploration opportunities throughout western North America. The company is in possession of eight 100% owned copper-gold projects throughout BC's premier porphyry copper-gold districts. These include ArcWest's Todd Creek and Oweegee Dome projects, which are two of the largest and most prospective land positions for copper-gold exploration in BC's prolific Golden Triangle. Oweegee Dome neighbours Seabridge Gold's supergiant KSM-Iron Cap-Snowfield porphyry copper-gold deposit and Todd Creek neighbours Pretium's Brucejack mine property. Newcrest Mining recently announced the acquisition of Pretium and its high grade Brucejack gold-silver mine in a transaction valued at $3.5 billion. Four ArcWest projects are currently being advanced by partners through earn-in and joint venture agreements; multiple ArcWest copper-gold projects are scheduled to undergo partner funded drill testing in 2022. By conducting partner funded exploration on multiple exploration projects simultaneously, ArcWest's chances of discovery are enhanced while exposing shareholders to minimal dilution. The company is managed by an experienced technical team with a track record of discovery and a reputation for attracting well-funded senior partners, including Freeport McMoRan, Robert Friedland group companies, ITOCHU, Antofagasta and Teck.
Qualified Person
ArcWest's disclosure of a technical or scientific nature in this news release has been reviewed and approved by John Bradford, PGeo, Technical Advisor, who serves as a Qualified Person under the definition of National Instrument 43-101.
For further information please contact: Tyler Ruks, President and CEO at +1 (604) 638 3695.
Investors are cautioned that ArcWest Exploration Inc. has not verified the data from the Kemess, Lawyers, and Baker deposits. Further, the presence and style of mineralization on these properties is not necessarily indicative of similar mineralization on the ArcWest Exploration Inc. property. Historical assays from exploration programs on its properties have not been verified by ArcWest but have been cited from sources believed to be reliable.
This news release contains statements about ArcWest's expectations and are forward-looking in nature. As a result, they are subject to certain risks and uncertainties. Although ArcWest believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and ArcWest undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107808