GC=F $1,923.00 1.30 0.07%
The King Project
Property Report
List of Figures
List of Tables
OVERVIEW
Commodity:
Gold and Copper)
Target Types:
Mesothermal veins, replacement mantos, porphyry- style mineralization
Location:
Spences Bridge Gold Belt 50 kilometres west of Kelowna, B.C.
Size:
3200 ha
SUMMARY
The King Property is located 50 kilometres
west of Kelowna, B.C., and is comprised of
eight MTO located mineral claims covering an
area of 3206.61 hectares in the Nicola
Mining Division of British Columbia. The
claims are located on NTS map sheets 92H.089
and 92H.090. The claims are owned 100
percent by Barranco Gold Mining Corp.
Current exploration is targeting
gold-bearing structures in intrusive and
volcanic rocks.
Highway 97C (Okanagan connector) transects
the property providing excellent access. The
physiography consists of treed hillsides,
rolling plateau with lakes and swamps, and
approximately 25 percent bedrock exposure.
Previous work during the 1960’s
consisted of copper exploration in areas to
the northeast and northwest portions of the
property and recent gold exploration on the
property as well as properties to the west
and south.
The Siwash (Elk) Gold Deposit, currently
owned by Almaden Minerals Ltd., is located
four kilometres to the southwest, Siwash is
a high-grade vein system which contains a
drill indicated geological resource in
excess of 200,000 ounces of gold with an
average grade of 0.647 oz/ton Au.
The past-producing Brenda Mine is located 20
kilometers to the east of the King Property.
The Brenda Mine operated from 1970 to 1990
and produced 278,000 tonnes of copper,
66,000 tonnes of molybdenum, 125 tonnes of
silver, and 2 tonnes (64,302 oz) of gold.
The King property hosts a geological
environment similar to that of the adjoining
Siwash property. It straddles a narrow
north-south neck of granodiorite batholith
in contact on either side with andesitic to
basaltic volcanics grading on the east to
sedimentary rocks and minor limestone. An
aeromagnetic high coincides with the
intrusive body.
Mineralized gold-bearing quartz veins hosted
by sheared, altered granite have been
observed in rock cuts along the highway
through the northern portion of the
property. In the eastern portion of the
property, siliceous volcanic rocks with
disseminated arsenopyrite have returned high
grade gold values.
A programme conducted by Cordilleran
Engineering in 1991 consisting of
wide-spaced (400m x 50m) grid soil sampling
over approximately one-quarter of the
property realized a total of 1074 samples.
The samples were geochemically analyzed for
gold, and fill-in sampling (50m x 50m) was
conducted around those sites which yielded
values greater than 20 ppb Au adding another
135 samples.
During this program, anomalous gold values
were returned from the initial first pass
sampling with the follow-up sampling
programme confirming three of these
anomalous returning additional values over
distances of up to 150 meters and to a high
of 91 ppb Au. Seventy-five percent of the
property, underlain by a similar geological
environment, remains to be sampled.
Gold-arsenopyrite mineralization is known to
exist on the eastern portion of the claim
area, and silver-rich quartz veins have been
found in the western portions of the claims.
Grab samples of quartz vein material with
disseminated pyrite have returned values of
up to 24100 ppb Au and 122.1 ppm Ag
This report outlines geochemical and
geological data obtained as well as
interpretation of the results. In order to
continue to evaluate the economic potential
of the King Property, a program consisting
of geochemical soil sampling, silt sampling,
prospecting, geological sampling and mapping
as well as hand-trenching is recommended.
The estimated budget for this program is
$111,873.00. These recommendations are based
on the writer’s interpretation of the data
and are intended to serve as guidelines for
future exploration and development of the
King Property.
INTRODUCTION
This report was commissioned by Rio Minerals
Ltd. (the “Company”), having offices at
615-800 West Pender Street, Vancouver, B.C.
V6C 2V6 and prepared by Andris Kikauka, P.
Geo.
In the preparation of this report, the
author utilized both British Columbia and
Federal Government of Canada geological
maps, geological reports, and claim maps.
Information was also obtained from the following British Columbia Government websites:
- Mineral Titles Online:
- www.mtonline.gov.bc.ca
- Geoscience BC:
- www.geosciencebc.com
as well as the mineral assessment work
reports from the King Property area that
have been historically filed by various
companies.
The author reserves the right but will not
be obliged; to revise the report and
conclusions if additional information
becomes known subsequent to the date of this
report.
The information, opinions, and conclusions
contained herein are based on:
- Information available to the author at the time of preparation of this report
- Assumptions, conditions, and qualifications as set forth in this report
Units and Measurements
Table 1: Definitions, Abbreviations, and Conversions
|
Units of Measure
|
Abbreviation
|
Units of Measure
|
Abbreviation
|
|---|---|---|---|
|
Above mean sea
level
|
amsl
|
Micrometre
(micron)
|
mm
|
|
Annum (year)
|
a
|
Miles per hour
|
mph
|
|
Billion years
ago
|
Ga
|
Milligram
|
mg
|
|
Centimetre
|
cm
|
Milligrams per
litre
|
mg/L
|
|
Cubic centimetre
|
cm3
|
Millilitre
|
mL
|
|
Cubic metre
|
m3
|
Millimetre
|
mm
|
|
Day
|
d
|
Million
|
M
|
|
Days per week
|
d/wk
|
Million tonnes
|
Mt
|
|
Days per year
(annum)
|
d/a
|
Minute (plane
angle)
|
‚
|
|
Dead weight
tonnes
|
DWT
|
Minute (time)
|
min
|
|
Degree
|
°
|
Month
|
mo
|
|
Degrees Celsius
|
°C
|
Ounce
|
oz.
|
|
Degrees
Fahrenheit
|
°F
|
Parts per
billion
|
ppb
|
|
Diameter
|
ø
|
Parts per
million
|
ppm
|
|
Gram
|
g
|
Percent
|
%
|
|
Grams per litre
|
g/L
|
Pound(s)
|
lb.
|
|
Grams per tonne
|
g/t
|
Power factor
|
pF
|
|
Greater than
|
>
|
Specific gravity
|
SG
|
|
Hectare (10,000
m2)
|
ha
|
Square
centimetre
|
cm2
|
|
Gram
|
g
|
Square inch
|
in2
|
|
Grams per litre
|
g/L
|
Square kilometre
|
km2
|
|
Grams per tonne
|
g/t
|
Square metre
|
m2
|
|
Greater than
|
>
|
Thousand tonnes
|
kt
|
|
Kilo (thousand)
|
k
|
Tonne (1,000kg)
|
t
|
|
Kilogram
|
kg
|
Tonnes per day
|
t/d
|
|
Kilograms per
cubic metre
|
kg/m3
|
Tonnes per hour
|
t/h
|
|
Kilograms per
hour
|
kg/h
|
Tonnes per year
|
t/a
|
|
Kilometre
|
km
|
Total dissolved
solids
|
TDS
|
|
Kilometres per
hour
|
km/h
|
Total suspended
solids
|
TSS
|
|
Less than
|
<
|
Week
|
wk
|
|
Litre
|
L
|
Weight/weight
|
w/w
|
|
Litres per
minute
|
L/m
|
Wet metric tonne
|
wmt
|
|
Metre
|
King
|
Yard
|
yd.
|
|
Metres above sea
level
|
masl
|
Year (annum)
|
a
|
|
Metres per
minute
|
m/min
|
Year
|
yr.
|
|
Metres per
second
|
m/s
|
||
|
Metric ton
(tonne)
|
t
|
|
|
PROPERTY DESCRIPTION AND LOCATION
The King Property consists of seven
non-surveyed mineral claims totalling
3206.61 hectares located on NTS map sheets
092H.089 and 92H.090 centered at Latitude
49° 55” Longitude 120° 51’. The claims are
located within the Nicola Mining Division,
of British Columbia. The Mineral claims are
shown on Figure 2, and the claim details are
illustrated in the following table:
Table 2: Property Tenure Information
|
Title Number
|
Claim Name
|
Owner
|
Title Type
|
Good To Date
|
Area (ha)
|
|---|---|---|---|---|---|
|
1063741
|
KING
|
118700 (100%)
|
Mineral
|
2021/DEC/31
|
83.26
|
|
1067940
|
KING 2
|
118700 (100%)
|
Mineral
|
2021/DEC/31
|
416.36
|
|
1067941
|
KING 3
|
118700 (100%)
|
Mineral
|
2021/DEC/31
|
416.36
|
|
1069933
|
KING – 4
|
118700 (100%)
|
Mineral
|
2021/DEC/31
|
458.11
|
|
1070217
|
KING – 5
|
118700 (100%)
|
Mineral
|
2021/DEC/31
|
520.52
|
|
1074978
|
KING – 6
|
118700 (100%)
|
Mineral
|
2021/DEC/31
|
562.14
|
|
1074979
|
KING – 7
|
118700 (100%)
|
Mineral
|
2021/DEC/31
|
749.86
|
BC Mineral Titles Online indicates that
Barranco Gold Mining Corp. is the current registered
owner of the tenures listed above.
The author undertook a search of the tenure
data on the government of British Columbia
Mineral Titles Online (MTO) website which
confirms the geospatial locations of the
claim boundaries and the property ownership
as of April 3, 2020.
In British Columbia, the owner of a mineral
claim acquires the right to the minerals
that were available at the time of claim
location and as defined in the Mineral
Tenure Act of British Columbia. Surface
rights and placer rights are not included.
Claims are valid for one year and the
anniversary date is the annual occurrence of
the date of record (the staking completion
date of the claim).
To maintain a claim in good standing the
claim holder must, on or before the
anniversary date of the claim, pay the
prescribed recording fee and either: (a)
record the exploration and development work
carried out on that claim during the current
anniversary year; or (b) pay cash in lieu of
work. The amount of work required in years
one and two is $5 per hectare per year,
years 3 and 4 $10 per hectare, years 5 and 6
$15 per hectare, and $20 per hectare for
each subsequent year.
Only work and associated costs for the
current anniversary year of the mineral
claim may be applied toward that claim unit.
If the value of work performed in any year
exceeds the required minimum, the value of
the excess work can be applied, in full year
multiples, to cover work requirements for
that claim for additional years (subject to
the regulations). A report detailing work
done and expenditures must be filed with,
and approved by, the B.C. Ministry of Energy
and Mines.
Figure 1: Regional Location Map
Regional Location Map (Satellite)
Figure 2: Property Tenure Map
ACCESSIBILITY, CLIMATE, PHYSIOGRAPHY, LOCAL RESOURCES, AND INFRASTRUCTURE
The King property is located 50 kilometres
west of Kelowna in south-central British
Columbia. It is centered on latitude 49
degrees 55′ north and longitude 120
51’ degrees west within NTS Map areas
92H.089 and 92H.090. Access to the property
is via Highway 97C (Okanagan connector) 40
km west from Westbank. The highway transects
the claims from northeast to southwest.
Access to the property is provided by
secondary roads extending from the old
Quilchena power line road via Sunset Main to
Paradise Lake and to Reservoir Lake as well
as numerous secondary logging roads.
The claims enclose an area of a broad
uplands plateau with limited relief.
Elevations range from 1550m to 1850m above
sea level. Roughly 10 percent of the area is
covered by small lakes or marsh. Bedrock
exposure is limited, being confined to
highway rock cuts and to the southeast
portion of the claims were some steeper
slopes are present. Northerly-flowing, small
to medium size streams meander across the
property but most have not eroded deeply
enough to expose bedrock.
Forest cover comprises pine, fir, spruce,
and balsam. Clear cut logging has been
undertaken on portions of the claims. Annual
temperatures range from -20 degrees to 30
degrees centigrade and precipitation is low
to moderate. The area is basically snow-free
from mid-June through November.
HISTORY
Copper exploration which consisted of soil
sampling, airborne EM/Mag, and I.P. surveys
was undertaken from 1966 to 1968. Minor
copper showings were discovered in volcanic
and intrusive host rocks.
From 1986 to the present, high grade gold
vein systems have been the subject of
exploration by Fairfield Minerals Ltd. and
Almaden Minerals Ltd. on the adjoining Elk
property located four kilometres to the
southwest of the King property. Geochemical
and geophysical surveys, trenching, and
diamond drilling at Elk have revealed
several gold-bearing structures, one of
which contains a drill indicated geological
resource in excess of 200,000 ounces of gold
with an average grade of 0.647 oz/ton Au.
Reconnaissance prospecting and sampling in
the King property area was carried out by
Cordilleran Engineering Ltd. from 1986
through 1991. Highly anomalous gold values
as well as high values in silver, copper,
lead, zinc, and arsenic were returned from a
number of stream sediment, soil, and rock
samples.
GEOLOGICAL SETTING AND MINERALIZATION
Regional Geology
After JWH Mongery, et al, 1989
Regional geology in the area of the King
property is illustrated on the northeast
part of GSC map 41-1989, Hope, mapped by
J.W.H..Mongery:
The claims straddle a narrow, north-south
neck of the Pennask batholith approximately
5 km wide and in contact on the east and
west with volcanic and sedimentary rocks of
the Nicola Group. The batholith comprises
white to grey, medium to fine grained
granodiorite of Late Triassic to Early
Jurassic age. To the south it is in contact
with Late Jurassic coarse-grained pinkish
granite to granodiorite. Nicola Group rocks
consist of Late Triassic andesite to basalt
flows and pyroclastics changing facies to
the east to a sequence of interbedded
argillite, sandstone, tuff, and minor
limestone.
GSC Aeromagnetic Map sheet 92H/16 (No.
8528G) indicates a magnetic high of 58,500
gammas, approximately 2 km long, trending
northeasterly across the center of the
property in the area currently mapped as
granodiorite.
Property Geology
After Rowe, et al, 1989
Rock cut exposures along the highway on the
south-central claims consist predominantly
of coarse-grained pinkish granite. Shear
zones within the granite are often
accompanied by argillic to phyllic
alteration over widths of up to several
meters with local narrow quartz veins
emplaced in the shears. Iron and manganese
oxides are common in the alteration zones.
Grab samples of quartz vein material with
disseminated pyrite have returned values of
up to 24100 ppb Au and 122.1 ppm Ag (Rowe,
J. 1991. AR 21922). Andesite dykes up to
0.5m wide of probable Tertiary age have been
observed cutting granite near mineralized
quartz veins. Similar dykes are spatially
associated with gold-bearing quartz veins on
the nearby Elk property.
A grab sample of siliceous volcanic rock
with disseminated to semi-massive
arsenopyrite taken from the eastern portion
of the property returned 1830 ppb Au and
30530 ppm As. Samples taken in the middle of
the claim group of quartz veins up to 6 cm
wide in sheared, altered volcanic rock
returned values up to 0.071 oz/ton Au and
30.5 oz/ton Ag with minor copper, lead, and
zinc. A grab sample taken approximately 1
kilometer south of the road of similarly
mineralized quartz vein material gave values
of 24100 ppb Au (0.70 oz/ton) and 85.6 ppm
Ag (2.50 oz/ton. Rowe, J. 1991. AR 21922).
Shears and vein structures measured on the
property have predominantly east to
northeast strikes and moderate to steep
southerly dips. It has been observed that
most of the gold-bearing structures in the
region have similar trends.
The geological setting is similar to that of
the adjoining Siwash (Elk) property where, 4
km to the southwest, a gold-bearing quartz
vein system cutting granitic and volcanic
rocks is being explored. In addition, the
Brenda copper-molybdenum deposit located
20km east of the King property is hosted by
similar geological units.
Figure 3: Regional Geology Map
Minfile Showings Located on the Property
The King showing (092HNE297): occurs along a logging roadcut, 1.5 kilometres southeast of the Coquihalla Highway (Okanagan Connector), 4.0 kilometres northeast of Culmination Point and 3.5 kilometres west-southwest of the summit of Pennask Mountain.
A quartz vein, 1 centimetre wide, cuts
bleached, pyritic andesitic ash tuff of the
Upper Triassic Whistle Creek Formation
(Nicola Group). A sample of selected chips
analysed 0.68 gram per tonne gold
(Assessment Report 21922, page 9, Table 2,
sample L89-R1D). The showing was sampled by
Kingsvale Resources Inc. in 1991.
The King 6 showing (092HNE298): occurs along the north side of the Coquihalla Highway (Okanagan Connector), 2.6 kilometres north-northwest of Culmination Point and 7.4 kilometres west of the summit of Pennask Mountain.
A drusy quartz vein, 10 centimetres wide,
cuts coarse-grained, feldspar megacrystic
granite of the Middle Jurassic Osprey Lake
batholith. The vein is mineralized with
scattered blebs of chalcopyrite. A selected
sample analysed 0.41 grams per tonne gold
and 7.8 grams per tonne silver (Assessment
Report 21922, page 9, Table 2, sample
Q1b-R3).
The King 8 showing (092HNE299): is on the north side of the Coquihalla Highway (Okanagan Connector), 2.7 kilometres north-northeast of Culmination Point and 6.0 kilometres west of the summit of Pennask Mountain.
A shear zone, 70 centimetres wide, cuts
coarse-grained, phyllic, sericitic-altered
granite of the Middle Jurassic Osprey Lake
batholith, near an andesitic dike. The
showing is approximately 100 meters south of
the contact with andesitic ash and lapilli
tuff of the Upper Triassic Whistle Creek
Formation (Nicola Group). A pyritic
quartz-calcite vein/breccia is associated
with the shear zone. A series of selected
chips from the vein yielded 0.44 grams per
tonne gold and 10.6 grams per tonne silver
(Assessment Report 21922, page 9, Table 2,
sample Q17-R2A).
Figure 4: Minfile Location Map
EXPLORATION
PREVIOUS EXPLORATION
A total of 1209 soil samples were collected
from the King property in 1991. Wide spaced
(400m x 50m) initial grid sampling yielded
1074 samples. These lines were established
in two areas of the property covering the
contact zones of the batholith and areas of
known gold mineralization which were
believed to have the best potential for the
discovery of gold deposits.
East-west claim lines served as baselines.
They were measured with a hip chain, marked
with pink flagging and at certain stations,
marked with grid-numbered, waterproof Tyvek
tags plus pink and blue flagging.
North-south soil lines were established
using hip chain and compass, and soil
stations at 50m intervals were similarly
identified with tags plus orange and blue
flagging. Subsequent fill-in line locations
were determined from existing initial grid
stations.
Samples were collected from the „B“
horizon with mattocks and placed in Kraft
paper bags marked with the appropriate grid
coordinates. The samples were sent to Acme
Analytical Laboratories Ltd. in Vancouver
where they were dried, sieved, and the -80
mesh fraction used for gold analysis. Each
sample was tested for gold by atomic
absorption following aqua regia digestion
and MIBK extraction from a 10-gram sample
(Rowe, J. 1991. AR 21922).
The wide-spaced grid sampling of selected
portions of the property was adopted to
economically explore the largest extent
reasonable, at the risk of missing narrow,
high grade gold veins which may lie between
400 meter-spaced lines.
The initial grid sampling returned nine
values greater than 20 ppb Au to a high of
130 ppb, dispersed widely across the
property. Fill-in sampling around these
sites confirmed the existence of anomalous
gold in three of the areas by yielding
additional values of 94 ppb Au (Rowe, J.
1991. AR 21922).
Wide-spaced soil sampling, with limited
follow-up over approximately one-quarter of
the King property has indicated three zones
of anomalous gold.
Table 3: Historic Rock Sample Descriptions:
|
Sample ID
|
Locality
|
Sample Type
|
Description
|
Sample Width
(cm)
|
Au ppb
|
Ag ppm
|
|---|---|---|---|---|---|---|
|
Q16-R3
|
KING
|
Grab
|
Broken sub-crop,
10cm drusy qtz
vein with
scattered blebs
of chalco
|
10
|
410
|
7.8
|
|
Q17-R2A
|
KING
|
Chip
|
In-situe pyritic
qtz-calcite
veins. Bx assoc
w 70cm wide
shear zone in
phyllic altered
granite near
andesite dyke
|
grab
|
440
|
10.6
|
|
Q20-R2
|
KING
|
Float
|
Selected grabs
from several qtz
veins, cobbles
up to 10cm wide.
Drusy, with
minor pyrite and
chalcopyrite
|
grab
|
820
|
–
|
|
Q20-R6
|
KING
|
Float
|
Several small,
angular qtz vein
fragments
– in part
hematitic w/fe
and minor oxides
|
grab
|
720
|
122.1
|
|
L89-R10
|
KING
|
Chip
|
Selected chips
from in-situe 1
cm qtz vein
cutting
bleached,
silicic, pyritic
andesite
|
grab
|
680
|
–
|
|
L89-R14
|
KING
|
Float
|
Selected grab of
qtz flooded
granite w/clots
of py, cpy, qn,
sp
|
grab
|
24100
|
85.6
|
|
L37-R1
|
KING
|
Float
|
Selected grab,
andesite-basalt
w/strongly
dissem
pyrite/arsenopyrite
|
grab
|
1830
|
–
|
– data not available
EXPLORATION PROCEDURES
Rock sample locations were marked in the
field with pink and blue flagging tape and
their respective locations along with sample
descriptions were recorded. The samples were
then placed in marked poly bags,
zap-strapped, and delivered to Acme
Laboratories located Vancouver, BC for
analysis.
Figure 5: Rock Sample Location Map
DEPOSIT TYPES
An epithermal gold deposit is one in which
the gold mineralization occurs within 1 to 2
km of surface and is deposited from hot
fluids. The fluids are estimated to range in
temperature from less than 100°C to about
300°C and, during the formation of a
deposit, can appear at the surface as hot
springs. The deposits are most often formed
in areas of active volcanism around the
margins of continents (Norcross 1997).
Epithermal gold mineralization can be formed
from two types of chemically distinct fluids
— „low sulphidation“ (LS)
fluids, which are reduced and have a
near-neutral pH (the measure of the
concentration of hydrogen ions), and „high
sulphidation“ (HS) fluids, which are
more oxidized and acidic. LS fluids are a
mixture of rainwater that has percolated
into the subsurface and magmatic water
(derived from a molten rock source deeper in
the earth) that has risen toward the
surface. In both LS and HS models, fluids
travel toward the surface via fractures in
the rock, and mineralization often occurs
within these conduits. LS fluids usually
form large cavity-filling veins, or a series
of finer veins, called stockworks, that host
the gold. The hotter, more acidic HS fluids
penetrate farther into the host rock,
creating mineralization that may include
veins, but which is mostly scattered
throughout the rock.
Low sulphidation deposits can also contain
economic quantities of silver and minor
amounts of lead, zinc, and copper, whereas
high sulphidation systems often produce
economic quantities of copper. Geochemical
exploration for these deposits can result in
different chemical anomalies, depending on
the type of mineralization involved. Low
sulphidation systems tend to be higher in
zinc and lead, and lower in copper, with a
high silver-to-gold ratio. high sulphidation
systems can be higher in arsenic and copper
with a lower silver-to-gold ratio (Norcross
1997).
INTERPRETATION AND CONCLUSIONS
The King property is located in the Spences
Bridge Gold Belt of British Columbia,
Canada. The Spences Bridge Gold Belt is an
underexplored, emerging
200-kilometre-long-by-30-kilometre-wide
low-sulphidation epithermal gold belt.
Interpreted to be a failed cretaceous rift
basin, it is believed the belt is
prospective for Fruta del Norte style
high-grade epithermal mineralization. It is
close to major transportation routes and
infrastructure allowing for cost-effective
exploration. The SBGB is a
northwest-trending belt of intermediate to
felsic volcanic rocks dominated by the
Cretaceous Spences Bridge Group.
The King property is located within the SBGB
and hosts a geological environment similar
to that of the adjoining Elk (Siwash)
property. The Siwash Gold Deposit, currently
owned by Almaden Minerals Ltd., is located
four kilometres to the southwest. Siwash is
a high-grade vein system which contains a
drill indicated geological resource in
excess of 200,000 ounces of gold with an
average grade of 0.647 oz/ton Au.
The past-producing Brenda Mine is located 20
kilometers to the east of the King Property.
The Brenda Mine operated from 1970 to 1990
and produced 278,000 tonnes of copper,
66,000 tonnes of molybdenum, 125 tonnes of
silver, and 2 tonnes (64,302 oz) of gold.
Soil sampling on the King Property returned
high gold in soil values over distances of
up to 150 meters. Six rock samples taken on
the property by Cordilleran Engineering
returned up to 24.1 grams per gold and 122.1
grams per tonne silver.
Gold-arsenopyrite mineralization is known to
exist on the eastern portion of the claim
area, and silver-rich quartz veins have been
found in the western portions of the claims.
The discovery of high-grade mineralization,
excellent infrastructure, and location in
the Spences Bridge Gold Belt provides a
compelling target for gold/silver
exploration.