Provenance Gold Corp has optioned an exceptional Yukon lode gold property southwest of Dawson City. The 2K Gold Property has operated as a successful ongoing placer mine for the past thirty years. Over the years, the placer operators have staked and refined large blocks of both placer and quartz claims to blanket most of the known mineralized area. Provenance believes the carefully selected 25 square kilometers of quartz claims have the potential to host a multimillion ounce gold resource.
2K Project, Yukon, Canada
2017 Field Program
A two-stage exploration program was initiated in June of 2017. The first phase was a soil geochemical sampling program that covered three initial exploration target areas. The first area was the upper portion of Kenyon Creek on the western slope of Moosehorn Ridge. The second covered portions of the Great Bear Creek and Kate Creek drainages on the eastern slope of Moosehorn Ridge. The third sampling area was a tight grid centered on gold-mineralized vein float in upper Kate Creek, along the access road to the Kenyon Creek placer. These programs were hindered by “boulder-crop” cover and permafrost but showed numerous gold and indicator element anomalies. The tight grid showed a strong, continuous arsenic anomaly at the intersection of two projected structures.
The second stage of the summer program was a 13-hole core drilling program to better understand the system geology and to test geological models. These holes were sited in two parts of the Kenyon Creek gold source area, and in a projected source for part of the Great Bear Creek placer gold system. The drilling encountered strong structural deformation, shearing, retrograde metamorphism and alteration, and local veining. The company is currently awaiting assays.
The work over the summer began to define the geology of the gold system, established new and more precise gold targets, and outlined an open-ended six-kilometer long zone of shearing and faulting that stretches northeastward across the property that is associated with numerous surface lode gold occurrences. This season’s work will guide our exploration and development for 2018.
2016 Field Program
Provenance Gold Corp initiated exploration and evaluation of the 2K Gold Property in 2016. The 2016 exploration program consisted of trenching, rock sampling and limited geological mapping. A total of 79 samples were taken from these trenches, as well as 4 from bedrock outside the trenches. Seventeen of the samples were re-assayed as bulk 1,000-gram samples to test for nugget effect.
This initial trench chip sampling program was designed to test for bulk tonnage mineralization uphill of the source of one of the 2K Gold property’s rich placers. These initial trenches were located for convenience to take advantage of an available excavator rather than being based on prior geological information.
The first trench was chip sampled and assayed in 2.0-meter increments. The bulk samples for three adjacent samples ran .69 gm, 1.13 gm and .86 gm (.02, .03, and .03 opt) per ton, indicating the altered, sheared locally silicified zone contains potentially economic gold values for open pit mining. Samples above or below these were not bulk assayed.
The second trench was excavated about 200 meters uphill of the first. A narrow vein in the middle of this trench was sampled and assayed. It assayed 7.72 grams gold in a 1,000-gram assay.
While the trenches were being sampled, about 100 meters uphill from the top of trench one, the excavator exposed a new vein with visible gold in its working face. This vein, in strongly altered granite, assayed 803 grams of gold per ton. A wall rock bulk sample adjacent to the vein assayed 47.5 grams, indicating the gold mineralization extends into the wall rock of the vein.