Exploration Highlights
- Soil geochemical sample coverage over 50% of the claims with lines spaced 100 meters apart with samples spaced 25 meters along each line
- Approximately 180 copper in soil samples (+ 50 ppm), define a west-northwest trend, roughly parallel to regional structural fabric
- Scattered gold in soil results in excess of 100 ppb are present
- Surface rock chip samples with visible chalcopyrite, bornite and malachite have been collected from outcrop exposure along the W-NW trend, returning copper grades ranging from 0.1 to 1.7%
- Three surface channel samples completed in 2019 returned anomalous copper grades ranging from 0.1 to 0.3% across 2-4 meters
Overview
The Valk Project covers 1,614 Ha and is located on Vancouver Island, British Columbia, approximately 20 km NW of Port Hardy. The Project is located within the Nanaimo Mining Division centered at latitude 50°47’ N longitude 127°43’ W and is road accessible via an extensive network of provincial highways, local roads, and logging roads. British Columbia is an established mining jurisdiction with numerous, world class mineral discoveries. Historical work on the claim package has identified anomalous copper and vanadium mineralization.
REGIONAL GEOLOGY
The region is dominated by rocks of the Karmutsen Formation (Triassic aged) comprised largely of theoleiitic basalts and basaltic flows. The Karmutsen overlies the Sicker Group which hosts several VMS Zn-Cu-Au-Ag deposits including Myra Falls (150 kms SE). Calc-alkaline volcanics rocks of the Bonanza Group overlie the Karmutsen Formation. Island Intrusive rocks, closely related to known Cu-Au-Mo porphyries, intrude the Bonanza Group rocks for Cu-Au-Mo porphyry deposits including:
REGIONAL MINERALIZATION
Island Copper Mine
The Island Copper Mine operated for 26 years and produced and estimated 345.0 M tonnes averaging 0.41% Cu, 0.017% Mo, 0.19 g/t Au and 1.4 g/t Ag.
North Island Copper and Gold Project
The North Island Copper Gold Project includes the Hushamu and Red Dog deposits. Current Indicated and Inferred resources are*:
- Indicated: 305.0 M tonnes @ 0.24% Cu, 0.28 g/t Au, 0.008% Mo
- Inferred: 189.0 M tonnes @ 0.19% Cu, 0.24 g/t Au, 0.007% Mo
- Numerous smaller Cu-Mo-Au porphyry, epithermal Au and Zn, Cu, Au, Ag massive sulphide showings are noted in the BC Ministry of Mines database
Source NI 43-101 Technical Report PEA effective date October 24, 2017
GEOLOGY
The Project is dominated by volcanic flows, pyroclastics and minor sediments of the Karmutsen Formation. The Karmutsen Formation includes three distinct members:
- A lower pillowed lava
- A middle pillowed breccia unit
- An upper lava flow unit
Irregular limestone beds occur near the top of the Karmutsen. Island Volcanic rocks (closely related to porphyry Cu-Mo-Au mineralization) outcrop 3.0 kms to the SE. Outcrop is sparse and there are few definitive marker units within the Karmutsen Frm.