Projects
Fifty Mile Project
Status: Ryan Gold has an option to earn-in 100% on the Fifty Mile Project through qualified exploration expenditures, cash payments and issuance of shares to Shawn Ryan and Wildwood Exploration Inc. over a four year period.
Location and Setting: The 57,000 hectare Fifty Mile Project straddles the placer drainage of Fifty Mile Creek within the unglaciated Yukon Plateau, approximately 50 km southwest of Dawson City, which is 538 km by paved highway north of Whitehorse, Yukon Territory. The property is situated in the Dawson Mining District centered at a latitude of 63°52'N and a longitude of 140°38'W and is accessible via the Matson Creek road from the Top of the World Highway from Dawson City. The Fifty Mile Project totals 2,734 Quartz Mining claims and is comprised of four blocks of claim: Chant, Ent, Echo and Gecko and Lena. This is considered a grassroots project.
Property and Agreements: Ryan Gold as option to earn in 100% on the property through a series of stage payments, issuance of shares and completion of qualified exploration expenditures over a four year period totalling:
If, and once Ryan Gold incur $7.5 million and $15 million in expenditures a further issuance of 500,000 common shares at each trigger point will be issued to Shawn Ryan.
Geology and Mineralization: Several significant placer producing streams drain the project area, which include Fifty Mile, Enchantment and Boucher Creeks. The Mt. Hart anomaly covers several outcrops of quartz-pebble conglomerate drained by streams containing anomalous gold. A maximum stream sediment value of 167 ppb Au, 100 ppm As occurs on the Chant claims 1.2 km downstream from the head of the tributary of Enchantment Creek.
The Fifty Mile Project is primarily underlain by Devonian to Mississippian orthogneiss, with K-feldspar augen bearing orthogneiss predominating in the south and intermediate to mafic orthogneiss, interlayered with amphibolite schist and gneiss (intermediate to mafic metavolcanic rocks) in the north. The Devonian to Mississippian basement rocks, exposed on the Chant claims and to the northwest, consist of quartz-mica schists, locally garnetiferous and grading to gneiss, and include metamorphosed fine clastic rocks, micaceous quartzite, rare conglomerate, and marble horizons. The above lithologies are intruded by plugs and stocks of Cretaceous (and/or possibly Jurassic) aged granite to granodiorite and are unconformably overlain by massive andesite flows and breccias of the Late Cretaceous Carmacks Group, locally with Early Cretaceous conglomerate at the base of the sequence.
Exploration
2010: Exploration by Ryan Gold Inc. on the Fifty Mile Project since acquisition in 2010 consisted of three ridge and spur soil geochemical surveys totalling 725 samples to explore the drainage basins of previously obtained stream sediment anomalies. The three surveys include a 240 sample survey over the eastern flanks of Mount Hart (on the Chant and western Ent claims), a 318 sample survey on the central Echo claims, and a 167 sample survey on the Gecko claims. The surveys delineated gold in soil geochemical anomalies on the Chant claims surrounding the eastern and southern sides of Mount Hart with a maximum value of 155.9 ppb Au (Saddle zone). Variable anomalous arsenic, lead, copper, antimony, and silver are associated with the anomalous gold values.
Lower order gold in soil anomalies were obtained from the Echo survey within and proximal to a Cretaceous and/or Jurassic intrusive stock within the drainage basin of a reported 1 g/t Au in stream sediment anomaly. A maximum value of 17.4 ppb Au, with associated calcium and iron, was obtained from the Gecko survey at the headwaters of an anomalous drainage basin. Anomalous bismuth, antimony and arsenic values were obtained from altered granite to alaskite from both the Chant and Echo areas. In the Chant Saddle zone significant mineralization and alteration were found consisting of quartz-sericite altered granite with quartz stringers, and cubic pyrite and limonite boxwork (after pyrite) hosted by granite and quartz vein float. On the central Echo claims locally silicified and brecciated granitic dykes, similar to those in the Chant Saddle zone, were encountered.
The Fifty Mile Project has potential to host mineralization similar to that at the White Gold deposit of Kinross Gold Corp. based on similar geological setting and geology (including Devonian-Mississippian orthogneiss, and ultramafic rocks), favourable airborne magnetic geophysical signature, gold in soil anomalies with significant alteration and mineralization, and presence of placer creeks. The altered granite from both the Chant and Echo areas show strong similarities to the Ten and Jual stocks located at Ten Mile Creek close the Flume property.
2011: Ryan Gold is planning to conduct the following exploration over the 50 Mile Project:
Location and Setting: The 57,000 hectare Fifty Mile Project straddles the placer drainage of Fifty Mile Creek within the unglaciated Yukon Plateau, approximately 50 km southwest of Dawson City, which is 538 km by paved highway north of Whitehorse, Yukon Territory. The property is situated in the Dawson Mining District centered at a latitude of 63°52'N and a longitude of 140°38'W and is accessible via the Matson Creek road from the Top of the World Highway from Dawson City. The Fifty Mile Project totals 2,734 Quartz Mining claims and is comprised of four blocks of claim: Chant, Ent, Echo and Gecko and Lena. This is considered a grassroots project.
Property and Agreements: Ryan Gold as option to earn in 100% on the property through a series of stage payments, issuance of shares and completion of qualified exploration expenditures over a four year period totalling:
- $650,000 cash
- issuance of 2.3 million common shares to Shawn Ryan
- $2.4 million in qualified exploration expenditures
If, and once Ryan Gold incur $7.5 million and $15 million in expenditures a further issuance of 500,000 common shares at each trigger point will be issued to Shawn Ryan.
Geology and Mineralization: Several significant placer producing streams drain the project area, which include Fifty Mile, Enchantment and Boucher Creeks. The Mt. Hart anomaly covers several outcrops of quartz-pebble conglomerate drained by streams containing anomalous gold. A maximum stream sediment value of 167 ppb Au, 100 ppm As occurs on the Chant claims 1.2 km downstream from the head of the tributary of Enchantment Creek.
The Fifty Mile Project is primarily underlain by Devonian to Mississippian orthogneiss, with K-feldspar augen bearing orthogneiss predominating in the south and intermediate to mafic orthogneiss, interlayered with amphibolite schist and gneiss (intermediate to mafic metavolcanic rocks) in the north. The Devonian to Mississippian basement rocks, exposed on the Chant claims and to the northwest, consist of quartz-mica schists, locally garnetiferous and grading to gneiss, and include metamorphosed fine clastic rocks, micaceous quartzite, rare conglomerate, and marble horizons. The above lithologies are intruded by plugs and stocks of Cretaceous (and/or possibly Jurassic) aged granite to granodiorite and are unconformably overlain by massive andesite flows and breccias of the Late Cretaceous Carmacks Group, locally with Early Cretaceous conglomerate at the base of the sequence.
Exploration
2010: Exploration by Ryan Gold Inc. on the Fifty Mile Project since acquisition in 2010 consisted of three ridge and spur soil geochemical surveys totalling 725 samples to explore the drainage basins of previously obtained stream sediment anomalies. The three surveys include a 240 sample survey over the eastern flanks of Mount Hart (on the Chant and western Ent claims), a 318 sample survey on the central Echo claims, and a 167 sample survey on the Gecko claims. The surveys delineated gold in soil geochemical anomalies on the Chant claims surrounding the eastern and southern sides of Mount Hart with a maximum value of 155.9 ppb Au (Saddle zone). Variable anomalous arsenic, lead, copper, antimony, and silver are associated with the anomalous gold values.
Lower order gold in soil anomalies were obtained from the Echo survey within and proximal to a Cretaceous and/or Jurassic intrusive stock within the drainage basin of a reported 1 g/t Au in stream sediment anomaly. A maximum value of 17.4 ppb Au, with associated calcium and iron, was obtained from the Gecko survey at the headwaters of an anomalous drainage basin. Anomalous bismuth, antimony and arsenic values were obtained from altered granite to alaskite from both the Chant and Echo areas. In the Chant Saddle zone significant mineralization and alteration were found consisting of quartz-sericite altered granite with quartz stringers, and cubic pyrite and limonite boxwork (after pyrite) hosted by granite and quartz vein float. On the central Echo claims locally silicified and brecciated granitic dykes, similar to those in the Chant Saddle zone, were encountered.
The Fifty Mile Project has potential to host mineralization similar to that at the White Gold deposit of Kinross Gold Corp. based on similar geological setting and geology (including Devonian-Mississippian orthogneiss, and ultramafic rocks), favourable airborne magnetic geophysical signature, gold in soil anomalies with significant alteration and mineralization, and presence of placer creeks. The altered granite from both the Chant and Echo areas show strong similarities to the Ten and Jual stocks located at Ten Mile Creek close the Flume property.
2011: Ryan Gold is planning to conduct the following exploration over the 50 Mile Project:
- an airborne magnetic and radiometric survey flown at 100 m line spacing
- soil geochemical grid survey and trenching over the Chant Saddle zone,
- ridge and spur soil traverses across the entire property
- property scale mapping, with concurrent prospecting and rock geochemical sampling.
