Trailbreaker Resources Ltd. (TBK.V)
(“Trailbreaker” or “the Company”) is pleased to announce that it
has received a geological study from Terrane Geoscience Inc.
(“Terrane”) with recommended drill holes for Trailbreaker’s
100%-owned Atsutla Gold project, located in northwestern British
Columbia (BC).
While discussing potential deposit models for
the project, the report summarized that there is good evidence of a
porphyry-epithermal system, as well as possible orogenic-type
mineralization. It was also determined that many features of the
Swan zone suggest it represents the shallow, lithocap levels of a
porphyry copper system.
Daithi Mac Gearailt, CEO of Trailbreaker,
commented, “We are very excited to have this study in hand.
The Terrane team did an excellent job defining the structure and
mineralization at Atsutla. It’s a big project, and they were able
to confirm many of our suspicions about the nature of
mineralization.”
The report is the culmination of 2 weeks of
targeted geological mapping during the 2022 exploration season.
Mappers investigated structure, alteration, and mineralization at
the Highlands, Christmas Creek, Willie Jack, and Swan zones.
Twenty-six samples were sent for thin section analysis. Products
include recommendations for future work on the property.
Of particular interest to Trailbreaker was the
alteration mapping conduced at the Swan zone (see Figure 1). It was
found that all rock units in the Swan area, except for mafic dikes,
are variably altered. Rocks display a strong hydrothermal
overprint, which was interpreted to be concentrically zoned.
Alteration is weakest at the periphery of the mapping area and
intensifies towards the main mineralized zone, grading from phyllic
to advanced argillic.
The report discussed possible deposit models for
the Atsutla Gold project (Généreux, 2023):
“Results of mapping of the Atsutla West
and Swan Zone showed good evidence of a porphyry-epithermal system
on the Atsutla Gold Project, as well as possible orogenic-type
mineralization. Many features of the Swan Zone suggest it
represents the shallow, lithocap levels of a porphyry copper
system”.
It was noted that the vein-hosted mineralization
in the Atsutla project is reminiscent of epithermal deposits which
are often found near porphyry copper systems, and that the similar
orientations of the veins in Atsutla West (a term for the combined
Highlands, Christmas Creek, and Snook zones) and fracture sets in
the Swan zone area suggest that the mineralization may be of a
similar age. “However,” the report states, “given the ~26 km
distance separating Atsutla West and the Swan zone, it is unlikely
that the latter was the source of metals for the Atsutla West
epithermal system, which suggests there may be further potential
for porphyry- and epithermal-style mineralization between the two
areas.”
At the Willie Jack zone, which is located within
older metasedimentary rocks on the margin of the Christmas Creek
batholith, it was noted that the auriferous quartz veins may be
part of the same epithermal system as the Highlands and Christmas
Creek zones, however, numerous features suggest that the gold
mineralization is more consistent with orogenic-type
mineralization.
Recommendations for future work at
Atsutla include:
- Conduct a property-wide LiDAR survey to increase confidence in
fault interpretation and identify prospective regional faults
outside the known mineralized zones.
- Complete a property-wide structural interpretation and map
compilation of LiDAR and magnetic data in conjunction with existing
mapping
- Drill 1-2 steep holes just north of the Highlands zone to test
for the presence of stacked veins and ascertain the true width of
the mineralized zones, as well as test for continuity between zones
at Atsutla West.
- Complete an IP survey at the Swan zone and alteration-based
logging of historical drill holes to assess the extent of the main
alteration zone.
- Follow-up drilling at the Swan zone based on results of the IP
survey.
- 2-3 drill holes to
delineate the lateral extents of the phyllic and advanced argillic
alteration zones to the north and west
- 1-2 drill holes to define the extent of the alteration zoning
in 3D and test the potential for the copper-rich portion of the
porphyry system at depth.
Figure 1: Detailed geological map of the Swan
mineralized zone.
43-101 technical report, additional thin
section analysis pending
Terrane Geoscience has also completed a 43-101
compliant technical report at the Atsutla Gold project. This report
is currently being signed and processed and the company will issue
a news release upon its release.
As discussed above, twenty-six samples were sent
to Vancouver Petrographics for thin section analysis. While this
initial analysis has been completed, additional study by Terrane to
put them into the context of the structural study is pending. It is
anticipated this will add to the understanding of the alteration
and nature of mineralization.
About the Atsutla Gold
Project
Trailbreaker’s 100%-owned 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. The project
covers 40,057 hectares of ground with
very limited historic exploration. The project represents a
district-scale discovery in an under-explored area of British
Columbia.
To date, Trailbreaker has identified five gold
zones at Atsutla: The Highlands, Christmas Creek, Snook, Willie
Jack, and Swan zones, which span a distance of 28 kilometres. The
highest grades occur at the Highlands zone, where grab samples have
returned values up to 630 g/t (18.38 oz/ton) gold
and 1,894 g/t (55.25 oz/ton) silver. High-grade,
vein- and wallrock-hosted copper mineralization has also been
discovered in the Highlands, Christmas Creek, and Willie Jack
zones, with grab sample assays up to 1.7%
copper. For more information and detailed maps, see the
Atsutla Gold Project section on Trailbreaker’s website.
Message from the President
“The Atsutla Gold project remains one of the few
district-scale discoveries in the past decade. We now have deposit
models and a stack of recommendations. The team is diligently
planning the next steps. Stay tuned for the 43-101 report and other
exciting developments for Trailbreaker Resources!”
ON BEHALF OF THE BOARD
Daithi Mac GearailtPresident and Chief Executive Officer
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
info@trailbreakerresources.com.
ReferencesGénéreux, C.A., 2023. Report on 2022 Structural
Mapping (Revised), Atsutla Gold Project, Northwest BC. For
Trailbreaker Resources Ltd. Terrane Geoscience Inc. January 09,
2023. Unpublished.
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.
Forward-Looking Statements
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/eca459ee-dff4-4298-a0be-223fa5871968
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