VANCOUVER, BC, June 12, 2024 /CNW/ -- Yukon Metals Corp. (CSE: YMC) (Frankfurt: E770) has doubled its land position from an initial 18,000 hectares (ha) acquired as part of the Berdahl property transaction announced Jan 15, 2024, to 36,000 ha after considerable staking over the last few months expanding the initially acquired Yukon portfolio.
Areas of focus in this staking program were the high priority AZ property, surrounding its Talbot property, as well as a new set of prospective claims near the Alaska Highway, which has been named "Fairway".
"During these past months, prior to Closing of the acquisition, the Company has been busy staking ground around two key properties, AZ and Talbot, as well as staking new claims at Fairway. AZ is a high-priority potential copper-gold porphyry asset, while Talbot hosts a substantial gold and silver anomaly. Both AZ and Fairway are within 20km of the Alaska Highway," said Rory Quinn, President and Chief Executive Officer. "I look forward to sharing ongoing details of what is going to be a busy exploration season."
AZ & FAIRWAY
The AZ and Fairway claim area was prospected by Ron Berdahl in the early 1990's while working for Noranda (Yukon Assessment 91-051 1991). Copper mineralization is noted on the AZ property; Rock float assays returned an average of 10% Cu, 126 g/t Ag and 7.08 g/t Au from four samples in 1993, noted in assessment report 093101 (press release June 3, 2024). The author further stated, "anomalous copper gold-bearing skarn underneath the float showing suggests a local source for the mineralized float on the property." In this region, small placer operations were active on Sanpete, Pan and Gold Creeks in the 1930's.
On behalf of the Company, prior to Closing, Ron Berdahl staked the area north of the southern AZ claims, which covered an additional 7,625 ha in 372 additional claims (see Figure 1). These claims include a gossanous area on Chair Mountain associated with northwest trending faults near the contact zone of the Nikolai Volcanics. Only 11 samples were taken in this area in 1987. In 1989 prospectors returned and blasted trenches near Sanpete creek and found quartz veining with sulfides. One 25cm sample #62951 (true width unknown) assayed 51 ppb Au, 5.6 ppm Ag, 1,400 ppm Cu, 8,880 ppm Pb and >20,000 ppm Zn (Assessment report 092798). Zinc was never re-assayed.
Another sample in the same trench area assayed 59 ppb Au, 1.2 ppm Ag, 278 ppm Cu, 429 ppm Pb, 13,380 ppm Zn (grab sample #62954). Follow-up work has never been completed in this area.
A similar geological setting occurs with the presence of the volcanic rocks and limestone on the newly staked Fairway Property. This package of mineralization is highly prospective with 10km strike length (see Figure 1) through Nikolai Volcanics and Chitistone Limestone mapped by the Geological Survey of Canada (OF 2188). The Fairway Property adds 2,552 ha in 126 new claims.
Both the entirety of the AZ and Fairway properties are 10 and 18 kilometers respectively from the Alaska Highway and may be accessed by short helicopter flights. Chair Mountain was previously accessed by trail.
TALBOT
Several key factors occur in this area such as a 4km gold in soil and talus fines anomaly. Additionally, there are float quartzite rock samples such as #40868 which assayed 3.67 g/t Au, 832 g/t Ag and 1,800 g/t Cu and float quartzite rock sample #40870 which assayed 3.59 g/t Au. The anomaly and rock samples were noted in assessment report 096342 (press release June 3, 2024). Overall, there is continuity in the geology and other positive ridge and spur samples taken on the Talbot property by Ryan Gold in 2012.
Thus, it became apparent that the Company should stake additional claims in the area to cover the major anomaly and the ridge and spur smaller anomalies. The Company added 370 claims covering an additional 7,689 ha of exploration ground. The additional ground which covers eastward through the psammitic and pelitic schists and the surrounding Ruby Range batholith (Yukon Geological Survey, OF 2011-2). The Ruby Range batholith has numerous porphyry occurrences along with other intrusive rocks in the coastal range plutonic suites (Fonseca and Bradshaw, Open File 2005-5). The Talbot Property is proximal to Burwash Landing and Destruction Bay on the Alaska Highway and is easily accessible by helicopter from nearby roads. Destruction Bay is 260 km west of Whitehorse.
The technical information contained in this news release has been reviewed and approved by Peter Born, Ph.D., P.Geo, who is a Qualified Person defined under National Instrument 43-101.
About Yukon Metals Corp.
Yukon Metals represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold's (SGD) portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company is led by an experienced Board of Directors and Management Team across technical, exploration and finance disciplines.
Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon's local communities, while simultaneously enhancing shareholder value. Our strategy centers around inclusivity and shared prosperity, offering both community members and investors the chance to contribute to, and benefit from, our ventures.
The Yukon
The Yukon ranks 10th most prospective for mineral potential across global jurisdictions according to the Fraser Institute (Fraser Institute Survey of Mining Companies 2023) and is host to a highly experienced and conscientious local workforce, created by a long culture of exploration coupled with deep respect for the land. Recent major discoveries with local roots such as Snowline Gold's (SGD) Rogue Project - Valley Discovery, demonstrate the Yukon's potential to generate fresh district-scale mining opportunities.
For more information about Yukon Metals, please contact:
Rory Quinn, President & CEO
Yukon Metals Corp.
Email: [email protected]
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking information, including information about the incremental release from escrow of the Consideration Shares, the resumption of trading of the Common Shares and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify the forward-looking information. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking information involves significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied in the forward-looking information. Such factors include, among other things: risks and uncertainties relating to the incremental release from escrow of the Consideration Shares; the resumption of trading of the Common Shares; and other risks and uncertainties. See the section entitled "Risk Factors" in the Company's listing statement dated May 30, 2024, available under the Company's profile on SEDAR+ at www.sedarplus.ca. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with the forward-looking information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise the information to reflect new events or circumstances, except as required by law.
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SOURCE Yukon Metals Corp.
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