$0.23
Kalzas
Projects
Kalzas Tungsten Project, Yukon
Target | Property and Ownership Description | Project Description | Historical Exploration | Recent Results | Future Plans | Related News Releases | Photo Gallery
Target: High grade or bulk tonnage tungsten deposit
Property and Ownership Description:
The Company has a 100% interest in the Kalzas tungsten Property, subject to a 2% Net Smelter Return Royalty of which one-half can be purchased by the Company for $500,000. The property consists of 8 claims in the Mayo Mining District located 290 km north of Whitehorse. If and when a production decision is made, the Company will issue a production bonus of 200,000 shares to the optionor.
On August 8, 2007, the Company reached an agreement with Prospector Consolidated Resources Inc. ("Prospector"), whereby Prospector will have the right to earn a 100% interest in the Kalzas property by paying $25,000 on signing the agreement, issuing 6,000,000 shares of Prospector to the Company in stages up to January 1, 2014, or the commencement of commercial production from the property, whichever comes first. Prospector must complete $4,080,000 in exploration expenditures on the property by December 31, 2010, and will also be required to issue 2,000,000 share purchase warrants to the Company. The Company retains the right to purchase half of the underlying 2% NSR royalty from the property vendors.
Project Description:
The tungsten mineral wolframite occurs in sheeted veins, stockworks and disseminations within altered Proterozoic schist and quartzite. Within the roughly 1.5 square kilometer zone of mineralization, higher grade zones occur in competent quartzite and siliceous conglomerate beds that are steeply dipping and strike northwesterly across the property. The mineralized zone is believed to be underlain by a 90 million year old Tintina Gold Belt intrusion. Coincidentally, many of the Tintina Gold Belt gold deposits, including Scheelite Dome, are known for their tungsten association. At Kalzas, arsenic, bismuth and antimony occur within the core area of the tungsten deposit, suggesting the possibility of gold mineralization closer to the interpreted intrusion.
Historical Exploration:
In the late 1970's, the property was mapped and sampled in detail by Union Carbide, who completed extensive tractor trenching and 2 deep drill holes. Union Carbide dropped its option on the property in 1982 coincident with a decline in tungsten prices. Sampling by the Company in 2001 and 2002 showed the potential to define a high grade deposit of plus 1% WO3 (tungsten trioxide) over widths of 1 to 6 m. No further work was completed on the property until 2005
A drilling program was completed by the Company in August and September of 2005. The program, which included 397.4 meters of thin-wall BQ core in 5 holes, was cut short by freezing weather conditions and waterline problems. However, the program successfully demonstrated that the high grade tungsten mineralization sampled at surface does show continuity to depth and along strike. Holes 1, 2 and 3 were drilled along a section under the South Upper Levels trench. Hole 4 was drilled 75 m to the west and hole 5 was drilled a further 150 m to the west, under the North Upper Levels trench. Highlights of the drilling include 1.122% WO3 over 1.9 m and 0.688% WO3 over 2.4 m within 48 m grading 0.153% WO3 in hole KZ05-01, 0.391% WO3 over 2.1 m in hole KZ05-02, and 1.22% WO3 and 1.39% WO3, each over 0.5 m within a 24.4 m interval grading 0.304% WO3 in hole KZ05-05 (WO3 = tungsten trioxide).
Recent Results:
A four hole, 500 m drill program was completed in September and October of 2008. The drilling targeted the mineralized zone within the large tungsten anomaly which had previously been drilled by Union Carbide in 1981 and by Copper Ridge in 2005, and has now been tested by 11 holes. The results reported by Prospector included the following weighted averages over each of the holes drilled and include results from a total of 352 core samples analyzed:
| Hole No. | Length (m) | Weighted Average (% W) |
Weighted Average (% WO3) |
| K-08-08 | 68 0 | 0.12 | 0.151 |
| K-08-09 | 141.3 | 0.17 | 0.211 |
| K-08-10 | 95 0 | 0.06 | 0.074 |
| K-08-11 | 191.2 | 0.07 | 0.088 |
Future Plans:
In order to keep the option in good standing, Prospector must complete an additional $1,000,000 in exploration on the property by December 31, 2009.
Figure 1. Kalzas project location map.
Figure 2. Outline of 0.1% W rock geochem anomaly, road and trench locations and drill holes.
Photo: Looking north across airstrip to Kalzas main tungsten zone.
Photo: Kalzas property air strip.
Photo: Camp along Kalzas airstrip.
Photo: Drilling at Kalzas.
Photo: Tungsten mineralization in quartz stockwork.
Related News Releases
| November 20, 2008 | Drill Results From Copper Ridge'S Kalzas Tungsten Project | |
| September 15, 2008 | Drilling Commences At Copper Ridge'S Kalzas Tungsten Project | |
| August 14, 2007 | Copper Ridge Farms Out Kalzas Tungsten Property | |
| December 22, 2005 | Copper Ridge - Project Update | |
| September 28, 2005 | Drilling Confirms Continuity Of Tungsten Mineralization At Kalzas | |
| August 12, 2005 | Drilling Underway at Kalzas High Grade Tungsten Deposit | |
| May 03, 2005 | Copper Ridge Plans Drill Test of High Grade Tungsten Deposit | |
| April 06, 2005 | Copper Ridge Exploration Update | |
| November 18, 2002 | Kalzas Tungsten Assay Results | |
| January 14, 2002 | Assays Confirm High Grade Tungsten | |
| December 06, 2001 | Copper Ridge - Exploration Update | |
| September 06, 2001 | SIGNIFICANT TUNGSTEN MINERALIZATION OUTLINED AT KALZAS | |
Visit the Kalzas Photo Gallery News Update
July 06, 2010
Subscription
