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Clear Lake Project, Yukon
Target | Property | Geological Setting | Potential | Figures | Photo Gallery
Target
- Sediment hosted Zn-Pb-Ag massive sulphide deposit.
Clear Lake was first explored in 1965. Drill programs in the late 1970's, 1980's and the early 1990's have included a total of 18,219 m in 71 drill holes. The Yukon Geological Survey Minfile database reports a "geological reserve" of 5,570,114 tonnes with an average grade of 11.4% zinc, 2% lead and 38.01 gpt silver. This resource is quoted here for historical information and it is not being treated as a current reserve or resource by the Company. The term "geological reserve" is not compliant with current accepted reserve and resource classifications as set forth by the Canadian Institute of Mining and Metallurgy Definition Standards. The reader is cautioned that it does not conform to National Instrument 43-101 requirements for reporting reserves and resources. It has not been verified by the issuer's qualified person and should not be relied upon.
Figure 1. Clear Lake project location.
Since 1965, the Clear Lake property has been subjected to numerous surface exploration campaigns, primarily geophysics and soil geochemistry because of the relative lack of bedrock exposure. Among the geophysical techniques applied, gravity, HLEM and, more recently, IP have been the preferred techniques. There are numerous occurrences of graphitic sediments within the stratigraphy that give false EM anomalies. Barite occurrences give rise to non-massive sulphide gravity anomalies. Interpretation of gravity results is also hampered by an irregular subcrop surface and an irregular regional gradient. Therefore, a combination of geophysical techniques need to be applied to best evaluate targets.
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Property
The property, consisting of 61 claims, is located 65 km east of Pelly Crossing and 225 km north of Whitehorse, Yukon. The property has a dirt air strip and can be accessed by fixed wing plane or helicopter from Pelly Crossing, Carmacks or Whitehorse. There is also a winter road from Pelly Crossing. The property is approximately 100 km east of Sherwood Copper's new Minto mine.
Copper Ridge has an option to earn a 100% interest in the property. Terms of the acquisition include payments of $160,000 and the issuance of 500,000 shares over 5 years, plus a payment of $10,000 and 250,000 shares if an interest in the property is farmed out or sold to a third party. The vendor will retain a 2% Net Smelter Royalty, ¾ of which can be purchased for $1.5 million.
| Clear Lake Property - List of Claims |
Grant Number |
Claim Name |
Claim No |
Claim Owner |
Expiry Date |
YC66660-YC66665 |
DAYLIGHT |
1-6 |
Copper Ridge Explorations Inc. |
13-Dec-08 |
YC66666 |
DAYLIGHT |
8 |
Copper Ridge Explorations Inc. |
13-Dec-08 |
YC66764-YC66811 |
CL |
7-54 |
Copper Ridge Explorations Inc. |
11-Jan-09 |
YC66876-YC66909 |
CL |
55-88 |
Copper Ridge Explorations Inc. |
26-Mar-09 |
The property is accessible by helicopter or fixed wing aircraft from Whitehorse, Carmacks or Pelly Crossing. The condition of a 1,000 m dirt airstrip is unknown at the present time. A winter road from Pelly Crossing has been used to service the project in the past.
Figure 2. Clear Lake project claims
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Geological Setting
Clear Lake is a barite-associated, shale-hosted, sedimentary-exhalative massive sulphide deposit that occurs in Devonian-aged Earn Group sediments within the Selwyn Basin. The pyritic massive sulphide body, estimated to be in excess of 40 million tonnes, is sigmoidal in shape, approximately 1,000 m in length and up to 120 m wide. Base metal mineralization occurs in two discrete horizons. In the massive sulphide-siliceous horizon, combined zinc-lead mineralization grading +5% occurs in three elongate-shaped lenses, 5 to 30 m thick and 450 m in length that extend at least 300 m down dip. The tuff-barite horizon, 75 m into the hangingwall of the deposit, has a number of intersections of +10% Zn over widths of one to six m.
The favourable Earn Lake stratigraphy occurs extensively within and external to the claim boundary. Numerous geophysical and geochemical targets have been identified over the years of exploration on the property, and many of these have been tested by trenching and drilling. Although a number of base metal occurrences have been discovered, none have as yet been of significant size.
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Potential
Clear Lake has the potential to become a zinc-lead-silver producer, whether from an open pit, underground workings, or a combination of the two. The property has the potential for the discovery of additional massive sulphide lenses. The Company has recently acquired the historical data on the property and will begin a compilation of this data, digitization of all the historical drill hole information and completion of a NI43-101 compliant resource estimate in the near future.
Figure 3. Clear Lake deposit cross section, near the centre of the deposit.
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Figures
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 Visit the Clear Lake Photo Gallery
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