VANCOUVER, British Columbia, March 30, 2022 (GLOBE NEWSWIRE) — Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the acquisition of the Eakin Creek property in south-central British Columbia (BC), and to provide a corporate update on the upcoming exploration plans for their Atsutla Gold project in northwestern BC.
Highlights of the new Eakin Creek property
- Located 100 km north of Kamloops, and road accessible via Highway 24 and well-maintained forestry roads
- Acquired by staking and the amalgamation of historical claims and showings
- 100%-owned by Trailbreaker Resources with no underlying payments or royalties
- Covers 1,610 hectares of prospective ground that drains into placer gold-bearing Eakin Creek
- Lies within an underexplored portion of the Quesnel tectonic terrane that hosts many of BC’s producing copper and gold mines
- Property covers some of BC’s highest gold grain-count values from government-collected till samples, and includes indicators for copper-gold (Cu-Au) porphyry deposit potential
- Has a history of placer gold production
- Hosts a robust gold-in-soil anomaly with 58 samples containing greater than 100 ppb Au, up to a maximum of 2,600 ppb (2.6 g/t) Au
- Historic high-grade grab samples assay up to 2.60 oz/ton (89 g/t) Au
- Limited outcrop sampling to date has returned a 3.0-metre chip sample interval grading 3.15 g/t Au, within a 14.0-metre interval grading 0.9 g/t Au
- No drilling has ever been conducted on the property
See below for an expanded summary and maps of the Eakin Creek property.
Update on the Atsutla Gold project and planned 2022 exploration program
Trailbreaker’s Atsutla Gold project is located 70 km south of the Yukon-British Columbia border and 130 km northwest of the community of Dease Lake, BC. Exploration in 2021 included the discovery of widespread high-grade gold at the Highlands zone, with grab sample assays up to 630 g/t (18.38 oz/ton) gold and 1,894 g/t (55.25 oz/ton) silver (see September 13th, 2021 news release). The program also included the identification of four gold zones: the Highlands, Christmas Creek, Willie Jack, and Swan zones (see November 1st, 2021 news release).
The current claim package was recently expanded from 37,727 hectares to 40,057 hectares.
Exploration in 2022 will include planning and determination of drill hole locations for a highly anticipated diamond drilling program. Drilling permits for the Atsutla Gold project remain outstanding (specifically at the Swan zone), as such drilling in 2022 is subject to their approval. In the meantime, the Company is working with all stakeholders, First Nations, and other interested parties in the area, to ensure exploration programs continue to be conducted in a safe, environmentally responsible and sustainable manner.
An airborne LiDAR (‘light detection and ranging’) survey is currently being planned for the Atsutla Gold project in the early summer of 2022. LiDAR surveys use laser scanning to produce high-resolution, 3-D representations of the earth’s surface. These can detect subtle topographic changes which can represent geological features such as lithological contacts, faults, and quartz veins, which are all important controls on gold mineralization at the Atsutla Gold project.
Work in 2022 will also include following up on targets identified from the airborne magnetic survey completed in the fall of 2021. Structural investigation and detailed mapping will be conducted on all gold-bearing zones, as well as first-pass reconnaissance prospecting and soil sampling on newly staked ground.
Trailbreaker will combine existing information on last year’s high-grade gold discoveries and existing geophysical survey results with upcoming geophysical surveys and structural investigations, to enhance its potential for new discoveries in 2022.
More on Eakin Creek:
The Eakin Creek property is located 100 kilometres north of Kamloops, BC and can be accessed via Highway 24 and by well-maintained forest service roads (see Map 1 – Location). The property covers 1,610 ha of prospective ground that drains into placer gold-bearing Eakin Creek. Eakin Creek lies in an underexplored portion of the Quesnel tectonic terrane that hosts many of BC’s producing copper and gold mines, such as New Afton, Ajax, Mt Polley, Highland Valley, and Copper Mountain. The claim package is 100%-owned by Trailbreaker Resources with no underlying royalties or payments.
A regional-scale till sampling survey conducted by the Geological Survey of Canada has shown that this underexplored portion of the Quesnel terrane has an anomalous Cu-Au-As-Mo geochemical signature that is indicative of copper porphyry environments elsewhere in BC. Furthermore, some of BC’s highest gold grain-count values are recorded from till samples from the Eakin Creek property (see Map 2 – Regional Till Survey).
Placer gold was first discovered in Eakin Creek in the late 1800s with small scale placer mining occurring through to the 1940s. The hard rock source of the placer gold was never found and remained a mystery for over 100 years. Gold in bedrock was first discovered on the property in 1983 during the construction of Highway 24, with subsequent hard rock discoveries continuing through to the early 1990s.
The property hosts a strong, widespread gold-in-soil anomaly with 58 samples containing greater than 100 ppb Au, to a maximum of 2,600 ppb (2.6 g/t) Au (see Map 3 – Soil Geochemistry). Prospecting and trenching have proved difficult in the area due to widespread glacial till cover, however the limited prospecting and trenching completed to date have been successful in determining the causes of gold-in-soil anomalies. Numerous high-grade float rock grab samples have been obtained from surficial pits, assaying up to 2.60 oz/ton (89.13 g/t) Au and locally containing visible gold. Limited outcrop sampling to date has returned a 3.0 m chip sample interval grading 3.15 g/t Au, within a 14.0 m interval grading 0.9 g/t Au (see Map 4 – Rock Geochemistry). Gold is associated with fracture-controlled quartz-calcite veins and breccias, hosted by a Jurassic altered diorite. The property has not been drilled to date, nor have any deep-penetrating geophysical programs been completed.
Trailbreaker’s team believes there is strong potential for a bulk-tonnage intrusive-related gold deposit underlying the glacial till, and that an induced polarization (IP) survey will be able to delineate the potential buried auriferous diorite. The team anticipates that the IP results will contribute to identification of high-quality drill targets.
Bernie Kreft purchase agreement:
Although the majority of the 1,610 ha Eakin Creek property was acquired by Trailbreaker’s staking, 2 claims in the core of the property are owned by Mr. Bernie Kreft. Trailbreaker has entered into a property purchase agreement to acquire a 100% interest in the Bernie Kreft claims. This agreement is subject to the approval of the TSX-Venture Exchange and other customary conditions. The terms consist of:
- A cash payment of CAD$13,475 upon signing of the agreement
- A transfer of 60,000 Trailbreaker common shares within 30 days of approval by the TSX.V
For more details and maps on Eakin Creek see the dedicated section on Trailbreaker’s website.
Message from the President
“True to our model as project generators, the Trailbreaker team has been busy throughout the winter putting together high-caliber projects and planning for the 2022 exploration season. Our flagship Atsutla project, with its high-grade gold discoveries and copper porphyry potential, will receive an aggressive exploration program designed to de-risk future drilling once permits are in place.
We are all excited with the addition of the Eakin Creek property. The project has high potential for further mineral discoveries, enhanced by its geological and geochemical settings, and by existing roads and other infrastructure.
Stay tuned for further updates as we have more exciting announcements to make in the coming weeks.”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.