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TSX.V: KLD $0.77-0.02

Healy
Project

Location:
Alaska, USA

Size:
18,470 ha

Stage:
Discovery

Deposit Type(s):
Orogenic Au

Located in the prolific Goodpaster Mining District of Alaska, the Healy project covers numerous untested gold targets within an 18,470-hectare land package. The Healy Project was first identified and staked by Newmont Corporation (Newmont, formally Newmont Mining) in 2011 following a systematic screening of Alaska’s Tintina Gold Belt through regional stream sediment geochemical sampling. In 2018, Kenorland Minerals (formally Northway Resources Corp.) entered into an option agreement to earn up to a 70% interest in the project by funding US$4 million in exploration expenditures over a period of four years.

Technical Presentation

Technical Report

The property covers 18,470 hectares of state-owned Alaska mining claims and is located approximately 180 km southeast of Fairbanks and 70 km east of Delta Junction, Alaska which offer all amenities to serve exploration and mining activities. The property can be accessed via winter trail or helicopter from Delta Junction.

The Healy Project is located within the Goodpaster Mining District, which is part of the prolific Tintina Gold Province; host of significant deposits such as Donlin Creek, Fort Knox, Pogo, Coffee, Sheelite Dome and Dublin Gulch. The property straddles a regional contact between metamorphic basement rocks and Cretaceous igneous rocks, which is recognized as a regional control for gold mineralization. The project lies within the major north-east trending structural corridor of the Black Mountain Tectonic Zone. The Black Mountain Tectonic Zone is believed to be similar to other major north-east trending structures such as the Shaw Creek, Mt. Harper, Ketchumstuck and Sixtymile fault systems, all of which are associated with major mineral occurrences. Within the project area gold-in-soil geochemical anomalies are coincident with numerous north-east trending structures related to this major structural corridor. Gold mineralization is associated with quartz-sericite altered pyritic gneiss and schist units within the metamorphic basement rocks.

The Healy Project was originally identified as a multi-catchment gold anomaly through Newmont’s proprietary bulk leach extractable gold (BLEG) stream sediment sampling techniques during a regional survey of eastern interior Alaska. The project was staked in 2012 and had seen only limited early stage exploration including ridge-and-spur and grid soil sampling, geologic mapping and prospecting, and four shallow Shaw back-pack drill holes all completed by Newmont. The targets generated from these exploration campaigns had yet to be tested by diamond or reverse circulation drilling prior to the optioning of the property by Kenorland Minerals Ltd. (formally Northway Resources Corp.) in 2018.

 

Kenorland began exploration work in 2018 with additional surface geochemical sampling which led to an initial reconnaissance drill program in 2019. The 2019 campaign included ten shallow reconnaissance style reverse circulation (RC) drill holes which intercepted widespread low-grade gold mineralization within the Bronk target area. In 2020 further geochemical and geophysical surveys advanced the Healy project, including a helicopter-borne magnetometer and radiometric survey, a ground based magnetometer and very low frequency electromagnetic (VLF-EM) survey, 10 lines of RES/IP geophysical surveying and infill C-horizon soil sampling over the main target areas to help define drill ready targets for the 2021 summer program.

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