KAMINAK 2.0

So there is a new junior company named K2 Gold. A new version of the ski gear?  Is it a marihuana company, you get as high as K2? Or is it exploring in Pakistan for gold? Bring your O2.

k2-mtn

Perhaps a vitamin company?

vitamin-k2d3

No, no.

Spotted recently at the Yukon Geoscience Forum was John Robins, Spud Heustis award winner, rainmaker for numerous Vancouver-based explorers including the recently taken over Kaminak Gold. So he has returned to early stage exploration by acquiring the WELS property for the newly re-named K2 Gold. WELS was discovered just a few years ago by R. Hulstein and F. Anderson, for which they were named Yukon Prospectors of the Year (probably a more prestigious award than the Spud Heustis, imho). The property, located near Wellesley Lake and Snag was explored initially by privateco Gorilla Minerals, owned in part by MLA Ranj “StFX” Pillai. Gorilla didn’t really know what to do with the property. I strongly suspect that Robins and his gang will know exactly what to do with it. Good luck!

k2-wels

The Wels property lies in gentle terrain near the White River.

StFX Mafia

At the recent Yukon Geoscience Forum there was a sighting of Donald McInnes, Vancouver junior company rainmaker and currently Vice Chairman of Ross Beatty’s Alterra Power Corp.

Donald used to be in the mineral exploration racket with Yukon properties, so is he planning to resume that, we hope? Nope.

Or is he about to bring some excellent renewable power options to the Yukon? Nope, at least not yet.

So why was he here at all, you may ask? It turns out that the Donald was a yuuuuge fundraiser for the Yukon Liberal party that cleaned up in the recent Territorial election. But Donald is from a Conservative home, his father was a federal Brian Macaroni Cabinet Minister for the Tories:   The Hon. Stewart Donald MCINNES, P.C., Q.C., LL.D., LL.B., B.A.  Why the Liberals, for god’s sake?

Because of the Fellowship of the Ring. Donald attended St Francis Xavier university, StFX. Graduating from StFX comes with a ring that confers special powers, turning even mild mannered school teachers into powerful X-Men!

stfx-rings

It turns out that our new Yukon premier, Silver Sandy and MLA henchman Ranch Pillory are also both X-Men, and there is a sacred bond between these people that demands political assistance.

stfx-campus

Other notable Canadian politcos who attended StFX include Frank McKenna, Lisa Raitt and the abovementioned Brian Macaroni. The top reason people attend this tiny, super-elite institution, according to their website: 

“Students experience the excitement of receiving the iconic X-Ring upon graduation – a renowned symbol of scholarship and connection to a wider, worldwide community (Canada’s strongest Alumni network) ”

 Not mentioned anywhere in public is the StFX secret handshake, even more powerful than the ring…

stfx-secrethandshake

My Pet Peeve…

Below are two maps of the same approximate area, several years apart:

3ace-tiger-names

 

3ace-pred

The property name has been changed from  3 Ace to 3 Aces. By the Golden Predator.

The Main Zone, with all the flashy visible gold is now the Queen of Hearts, apparently, the Sleeping Giant is Spades and all the other old zone names have also been changed. Just Because…

I think the name changes are specifically intended just to piss me off! The same perpetrators also changed old property names like Scheelite Dome to Gold Dome. And the Rhosgobel zone at Clear Creek to the Juno zone (even though they never even drilled it). All these changes piss me off…

I had to think about why I am angered by the changes. Perhaps because it makes comparisons between old and new results difficult. Perhaps because one of the joys of being a field geo/ prospector is being able to give a name to your baby, a new discovery. When they get changed for oh-so-clever marketing purposes by someone who spent 10 minutes on site it seems like a personal insult. So F you too!

BANYAN INTERSECTS GOLD AND SILVER AT THE HYLAND GOLD PROJECT

BANYAN INTERSECTS 30.7M OF 1.3 G/T GOLD AND 8.0 G/T SILVER AT THE HYLAND GOLD PROJECT, YUKON

These guys raised $1.2m earlier this year, redid the 43-101 resource estimate using old data, then drilled 3 holes.

The Main Zone gold Inferred Resource, at a 0.6 g/t gold equivalent (“AuEq”) cutoff, hosts a NI 43-101 compliant Resource of 12,503,994 tonnes containing 361,692 ounces gold at 0.9 g/t and 2,248,948 ounces silver at 5.59 g/t for a combined gold and silver 396,468 ounces gold equivalent.

Personally, I don’t think there is any such thing as an equivalent to gold….  only gold is gold. Silver is also nice, but is not gold.

Also, if you have a gold deposit that is too small, and only have enough money to drill 3 holes, maybe you should drill all 3 holes as stepouts. Not infill. But I suppose one must get at least one decent hit or you will be in trouble. One of the 3 holes was infill, 2 were stepouts, though it is not quite clear which is which from the news release.

Luckily all 3 holes provided good hits!

Each of the three holes drilled in 2016 returned long intervals of Main Zone mineralization including: 30.7 metres of 1.30g/t Au and 8.0 g/t Ag from 18.3 to 49.0 metres (drill hole HY-16-48); 27.1 metres of 1.02 g/t Au and 16 g/t Ag from 24.4 to 51.5 metres (drillhole HY-16-49); and 35.7 metres of 1.00 g/t Au and 2.5 g/t Ag from 76.0 to 111.6 metres (drill hole HY-16-10).

Note that Banyan bought the Hyland project in 2012 from Argus Metals Corp. for $25k and 4m shares…  they have been chipping away at the property each year, sometimes with YMIP grants. They discovered a new zone, but it seems to be lower grade so far and is not included in the resource estimate.

CANTEX DRILLING UNDERWAY! In November!

Kelowna, Canada – October 31, 2016 – Cantex Mine Development Corp. (CD: TSXV) (the
“Company”) The Company is pleased to announce that drilling is underway on its North Rackla Project
in the Yukon.
Drilling is currently testing the newly discovered eastern silver-lead-zinc-copper massive sulphide zone.
Specifically, the southwestern extension of the massive sulphide zone is presently being tested. Though
this zone has not been trenched, composite gossan samples collected from sub-outcrop gossan samples
returned grades of up to 314 g/t silver, 13.85% lead, 18.7% zinc and 1.97% copper.
The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol.,
a Qualified Person under National Instrument 43-101, who is responsible for the technical content of
this release.
Signed,
Charles Fipke

cantex-scene

Just a word to the wise – diamond drilling above treeline 100km northwest of Keno Hill in November just might not be the best idea. Every day gets shorter and darker and colder. Maybe very, very cold. Lucky for them they have the great Al Doherty along to help!

THEY LIVE!!!

Some Yukon explorers have recently started or completed private placements. Hooray! If the PP is for greater than $1million it means they can actually do some real work, not just stay alive.

arcus-pic

Arcus Development Closes Private Placements with Goldcorp 

$1,398,851 from Goldcorp as part of the deal for claims adjacent to Coffee project.

Precipitate Receives $1,200,000 Through Warrant Exercise by Strategic Metals Ltd.

Although Precipitate has some Yukon claims, this money will be spent in Dominican Republic. Strategic Metals works mostly in Yukon, so I see this as money leaving the territory. Not so good…

Northern Freegold Announces Private Placement and Closes First Tranche

$1,585,125 already closed, and probably more to come. Plus warrants.

Cariboo Rose Completes Casino “B” Option with Western Copper and Gold and Sells Back Nine Claims

OK, so no money changed hands in this one. But the Casino pit can now expand a bit. The pit edge of the current design at Casino terminates against the property boundary with Cariboo, not a geology or grade cutoff boundary. So expect them to add a few tonnes. Of course lack of tonnage is not really a problem at Casino…

BMC Minerals – Kudz Ze Kayah project open houses – Attend!

kzk-scenery

Nov 14 – Ross River Hope Centre                6:30 – 8:30pm Presentation and Open House

Nov 15 – Faro Rec. Centre                             6:30 – 8:30pm Presentation and Open House

Nov 16 – Whitehorse High Country Inn    6:30 – 8:30pm Presentation and Open House

Nov 17 – Watson Lake Rec. Centre            6:30 – 8:30pm Presentation and Open House

Note that the company recently released a new mineral resource estimate.  The release is 40 pages long, and contains plans and sections. Of note, they include the newly discovered Krakatoa zone, adding about 4 million tonnes to the project at lower Cu grade but higher Pb, Zn, Ag & Au grades. JORC compliant, in-house.

Indicated and Inferred: 19.2m Tonnes @ .9% Cu, 1.9% Pb, 6.3% Zn, 1.4 g/t Au, 148 g/t Ag. Not bad! And there is also the GP4F deposit of 1.7m T at lower grades, still open.

Hey, they also recently bought the Wolf deposit in the same neighbourhood.

Rumour:  They are currently drilling 1000m+ holes (or trying to), with some very difficult drilling conditions.

News on these guys is not as prominent as for publicly traded companies. They have two websites, one corporate  http://bmcminerals.com  and one community-oriented  http://kudzzekayah.com/  .

UPDATE: Just so you know, BMC is controlled by Barclays Bank,  UK banking behemoth. And they must agree that Zinc will be a great commodity next year.

Bearing Resources Provides Update Of Yukon Hy-Jay Gold Property

Here is a wonderful news release…  they dig up some prospecting assays from 2011. Not a bad “new” zone, discovered only a km or so from a couple of known gold zones, and never drilled. Up to 47 g/t Au and 230 g/t Ag.  It is surprising what you can find if you know what you are looking for!

OLYMPUS DIGITAL CAMERA

HY JAY HERO SHOT

But this company has done virtually nothing constructive this year. And they have basically gotten out of the mining game – none of the remaining directors have an exploration background. And they disposed of some of their best mining properties for some shares and lunch money. Commander Resources Ltd. now has the Flume property, probably the best Yukon property that Bearing had. One of the properties that Bearing still shows on their website is the BIG claims. However, what is left of BIG are a few peripheral claims that will expire soon that were part of a decent sized block that lay adjacent to the Clear Creek property (now owned by Victoria Gold). The best part of the BIG block lapsed and was restaked a couple years ago by some genius. (Ask me how I know… )

Here is the kicker:

big-chart

Yes, you could have bought some BEARING shares for 2 or 4 cents and sold them for 46 cents in the past year.