Projects
Flume Project
Status: Joint venture with Bearing Resources Ltd. whereby Ryan Gold has an option to earn-in 75% through qualified exploration expenditures and cash payments.
Location and Setting: The Flume Property covers the headwaters of Ten-Mile and Sestak Creeks approximately eight km west of the Yukon River and 75 km south of Dawson City. The Property is in the Dawson Mining District and the centre of the Property is located at 63°29'N Latitude and 140°03' Longitude on NTS map sheets 115N08, 115N09, 115O05 and 115O12.
The Flume property can be accessed through a series of roads from an active placer mining camp on the banks of Ten Mile Creek which is located about two kilometres upstream of the confluence of Ten Mile and Creek and Sixty Mile River. The placer camp is serviced by an airstrip at the confluence of the above mentioned drainages as well as by barge at the confluence of the Yukon and Sixty Mile Rivers about eight kilometres from the mouth of Ten Mile Creek. Within the Flume block of claims is a disused airstrip that could be used to service the property once drilling is initiated. The property is approximately a half helicopter flight from Dawson City.
Property and Agreement: The Flume Property is a contiguous block of 191 Quartz Mining Claims covering 3,638 hectares. These claims are 100% owned by Phelps Dodge Corporation of Canada Ltd. and are under option by Valley High Ventures Ltd. and Ryan Gold Corp. Ryan Gold has the option to earn in 75% on the property through a series of stage payments, issuance of shares and completion of qualified exploration expenditure over a seven year period. The agreement is as follows:
Geology and Mineralization: Ten Mile Creek and Sestak Creek have been explored and worked for placer gold since the times of the original Klondike Gold rush in the early 1900's. Prior to the 1990's little exploration appears to have occurred other than the discovery of a few gold vein showings to the north and south of the current Property. The first mineral exploration work recorded on the Property occurred in 1998 when Phelps Dodge Corporation of Canada staked the first Flume claims. From 1998 to 2000 Phelps Dodge conducted geological mapping, prospecting, ~ 60 line-km of soil surveying (200 m spaced lines and 100 m spaced samples) and trenching.
The Flume Property is underlain by a package of metamorphic rocks belonging to the Yukon-Tanana terrane. The Yukon-Tanana terrane is comprised primarily of Palaeozoic greenschist to amphibolite grade sedimentary, volcanic and intrusive rocks thought to be a series of superimposed continental arcs (Bennett et al., 2010). The geology of the Flume Property has been subdivided into five main groups of rocks, in order of oldest to youngest: (1) Siliciclastic meta-sedimentary rocks - interlayered quartzo-feldspathic units, (2) Calcsilicate meta-sedimentary rocks -- interlayered marble, amphibolite and calc-silicate units, (3) Orthogneiss -- interlayered granitoid feldspar augen gneiss and gabbroic/dioritic gneiss, (4) Biotite quartz monzonite -- quartz monzonite to granite, locally sheared, and (5) Late dykes -- mafic lamprophyric dykes and rhyolite to dacite quartz phryric dykes.
Exploration
2010: During the summer of 2010 Ryan Gold conducted a detailed helicopter-borne magnetic survey, a soil geochemical sampling survey and mapping of the Flume Property. Canadian Mining Geophysics (CMG Airborne) were contracted and the survey was flown at a 50 m line spacing orientated N45°E. Tie lines were at 500 m spacing an orientated N135°E. A total of 1,420 line km were flown.
A soil geochemical survey was conducted over the most of the property with lines orientated N45°E. Line and sampling spacing was 160 and 40 m respectively. A total of 3,988 soil samples were collected. A 3000 x 700 m long NW trending coincident Au-As-Pb soil anomaly was identified on the southern portion of the Property within meta-sedimentary rocks. This anomaly is spatially related to a sheared granite body. On the northern half of the Property several As in soil anomalies occur which coincide with Au and Pb locally. These northern anomalies occur within meta-sedimentary rocks and at the margins of biotite quartz monzonite bodies. There is a spatial relationship between Au-As-Pb soil anomalies and the Cretaceous granitic intrusive rocks on the Property. However, the NW trend to the southern anomaly indicates a structural control on potential mineralization and as this soil anomaly is best defined by anomalous gold it represents the best drill target on the Property.
Location and Setting: The Flume Property covers the headwaters of Ten-Mile and Sestak Creeks approximately eight km west of the Yukon River and 75 km south of Dawson City. The Property is in the Dawson Mining District and the centre of the Property is located at 63°29'N Latitude and 140°03' Longitude on NTS map sheets 115N08, 115N09, 115O05 and 115O12.
The Flume property can be accessed through a series of roads from an active placer mining camp on the banks of Ten Mile Creek which is located about two kilometres upstream of the confluence of Ten Mile and Creek and Sixty Mile River. The placer camp is serviced by an airstrip at the confluence of the above mentioned drainages as well as by barge at the confluence of the Yukon and Sixty Mile Rivers about eight kilometres from the mouth of Ten Mile Creek. Within the Flume block of claims is a disused airstrip that could be used to service the property once drilling is initiated. The property is approximately a half helicopter flight from Dawson City.
Property and Agreement: The Flume Property is a contiguous block of 191 Quartz Mining Claims covering 3,638 hectares. These claims are 100% owned by Phelps Dodge Corporation of Canada Ltd. and are under option by Valley High Ventures Ltd. and Ryan Gold Corp. Ryan Gold has the option to earn in 75% on the property through a series of stage payments, issuance of shares and completion of qualified exploration expenditure over a seven year period. The agreement is as follows:
- Ryan Gold can earn an initial 51% interest in the project by meeting the following commitments prior to June 24th, 2013:
- incurring $1.5 million in exploration expenditures,
- making cumulative cash payments of $500,000
- Ryan Gold can earn an additional 14% interest, taking the total interest to 65%, by meeting the following commitments prior to June 24th, 2017;
- incurring a further $6.5 million in exploration expenditures,
- making additional cumulative cash payments of $500,000
- For Ryan Gold to earn a 75% interest in the project it has to meet the following commitments:
- an additional cash payment of $1.0 million
- Cost of completion of a feasibility study
Geology and Mineralization: Ten Mile Creek and Sestak Creek have been explored and worked for placer gold since the times of the original Klondike Gold rush in the early 1900's. Prior to the 1990's little exploration appears to have occurred other than the discovery of a few gold vein showings to the north and south of the current Property. The first mineral exploration work recorded on the Property occurred in 1998 when Phelps Dodge Corporation of Canada staked the first Flume claims. From 1998 to 2000 Phelps Dodge conducted geological mapping, prospecting, ~ 60 line-km of soil surveying (200 m spaced lines and 100 m spaced samples) and trenching.
The Flume Property is underlain by a package of metamorphic rocks belonging to the Yukon-Tanana terrane. The Yukon-Tanana terrane is comprised primarily of Palaeozoic greenschist to amphibolite grade sedimentary, volcanic and intrusive rocks thought to be a series of superimposed continental arcs (Bennett et al., 2010). The geology of the Flume Property has been subdivided into five main groups of rocks, in order of oldest to youngest: (1) Siliciclastic meta-sedimentary rocks - interlayered quartzo-feldspathic units, (2) Calcsilicate meta-sedimentary rocks -- interlayered marble, amphibolite and calc-silicate units, (3) Orthogneiss -- interlayered granitoid feldspar augen gneiss and gabbroic/dioritic gneiss, (4) Biotite quartz monzonite -- quartz monzonite to granite, locally sheared, and (5) Late dykes -- mafic lamprophyric dykes and rhyolite to dacite quartz phryric dykes.
Exploration
2010: During the summer of 2010 Ryan Gold conducted a detailed helicopter-borne magnetic survey, a soil geochemical sampling survey and mapping of the Flume Property. Canadian Mining Geophysics (CMG Airborne) were contracted and the survey was flown at a 50 m line spacing orientated N45°E. Tie lines were at 500 m spacing an orientated N135°E. A total of 1,420 line km were flown.
A soil geochemical survey was conducted over the most of the property with lines orientated N45°E. Line and sampling spacing was 160 and 40 m respectively. A total of 3,988 soil samples were collected. A 3000 x 700 m long NW trending coincident Au-As-Pb soil anomaly was identified on the southern portion of the Property within meta-sedimentary rocks. This anomaly is spatially related to a sheared granite body. On the northern half of the Property several As in soil anomalies occur which coincide with Au and Pb locally. These northern anomalies occur within meta-sedimentary rocks and at the margins of biotite quartz monzonite bodies. There is a spatial relationship between Au-As-Pb soil anomalies and the Cretaceous granitic intrusive rocks on the Property. However, the NW trend to the southern anomaly indicates a structural control on potential mineralization and as this soil anomaly is best defined by anomalous gold it represents the best drill target on the Property.
