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Victory Ridge Gold

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  • Deposit Type: Vein, Breccia and Stockwork
  • Commodity: Gold
  • State/Province: AK
  • Country: United States
  • Latitude: 65° 26' 15'' N
  • Longitude: 144° 43' 3'' W
  • Deal Type: Lease
  • Conditions:
    The Victory Ridge Gold Property is available for sale or lease with purchase option. Lease agreement would require modest work commitment first year (increasing in subsequent years), all data relinquished, annual lease payment, State of AK rents & compliance with regulations, and NSR of 2.5% (purchasable). Sale price negotiable.


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Victory Ridge Gold Property Summary

Victory Ridge Property Location
The Victory Ridge Gold Property encompasses of approximately 4,400 acres in the eastern Circle Mining District, Alaska. The property is road accessible, and lies approximately 150 road miles northeast of Fairbanks, Alaska, and near the communities of Circle Hot Springs and Central. Access is via the Steese Highway, which extends from Fairbanks to Central and is paved for 86 miles. The remaining 64 miles to Central consists of a gravel highway which is well-maintained by the State of Alaska. The property lies about 14 miles beyond Central, near Circle Hot Springs, and is accessible by 2-wheel drive vehicles during the summer months. There is also a very nice public airstrip located at Circle Hot Springs. The property consists of a 962 acre Upland Mining Lease and numerous additional State of Alaska mining claims, all in good standing. The property straddles a major ridge which heads three major historic and currently active placer gold producing creeks. Over 1 million ounces of placer gold has been produced from the district, and it is estimated approximately one fifth of that came from creeks draining the property. Two prospects on the property have had significant sampling and limited drilling. Gold occurs in quartz veins and stockworks associated with faults and generally located proximal to granitic intrusive rocks. One prospect is entirely intrusive-hosted within the Two-Bit Pluton. Gold values for surface rock samples range up to just over 1 opt, and visible gold can be observed locally. Elevated gold values are commonly associated with anomalous silver, arsenic, lead and antimony, and locally with anomalous bismuth and zinc. Past exploration, including rock and soil sampling, and limited drilling, has been focused on the VR and Vetter prospects. Anomalous gold values are found in rock samples at several prospects on the property. A gold-in-soil anomaly at the VR prospect is approximately 400x400m and open in 3 directions.

Local Geology

The property lies in the Tintina Gold Belt, a regional gold province straddling central Alaska and Yukon Territory, and is located approximately 6 km south of the Tintina fault zone, a major terrane-bounding fault zone. Gold mineralization on the property is associated with the Two Bit pluton, which underlies the southern portion of the property. The Two Bit pluton is a 90 ma pluton ranging from monzogranite to granodiorite in composition, similar to other Tombstone Suite plutons in the gold belt. The northern portion of the property consists of a ridge underlain by hornfelsed quartzite, pelitic schist and local mafic schist. Aplite and pegmatite dikes are common in the hornfels, and some are transitional to arsenopyrite-quartz veins containing anomalous gold values. The main ridge transecting the property is thought to form a roof zone overlying the Two Bit pluton. The area is also cut by numerous Paleogene northeast-trending faults and mafic dikes. This strong northeast structural grain overprints an earlier northwest-trending structural grain, which controls some of the gold mineralization. A similar sequence of mineralization and structural events is found at several gold prospects in the Fairbanks Mining District.

Gold Mineralization

Gold mineralization on the property occurs as auriferous, low sulfide, sheeted quartz veins and stockwork veinlets. Quartz-sericite alteration is widespread and locally pervasive in shear zones. Silicification is also locally pervasive in zones containing abundant quartz veins. Several stages of veining are present including: 1) main stage gold-sulfide-quartz veins, which are slightly deformed, and 2) late stage drusy quartz veinlets containing trace sulfides. Granite-hosted veins rarely exceed 5cm in thickness, whereas schist-hosted veins locally reach 1m in thickness. A strong gold-arsenic soil anomaly covers a large portion of Victory Ridge. Gold-anomalous rock samples have been collected at numerous locations on the property. Thus far, significant gold mineralization is documented at three prospects, including the VR, Vetter and Crazy Eight prospects. Similar geologic settings and mineralization styles occur on Wishbone Hill, which occupies the western portion of the property.

Deposit Model

The age and petrology of the Two Bit pluton are similar to the age and petrology of several plutons in the Tintina Gold Belt associated with gold mineralization (ie, IRG's or ''Intrusive-related Gold'' deposits). These 'gold-favorable' plutons are 88-92ma, calc-alkalic to sub-alkalic and granite-granodiorite in composition, and have coarse-grained, porphyritic to megacrystic textures. Prime examples include the Ft. Knox gold deposit in the Fairbanks Mining District, and the Brewery Ck and Dublin Gulch gold deposits in the Yukon Territory. Granite-hosted, gold-bearing sulfide-quartz veins at the Vetter Prospect resemble gold mineralization at these deposits, ie, sheeted style sulfide-quartz veins peripheral to shear zones. Northwest-trending shears at the Vetter Prospect are thought to be related to a suspected large-scale structural corridor or fault zone on the Victory Ridge Property. A large scale geochemical zonation is also suspected, consisting of proximal gold-lead-zinc associated with intrusive-hosted mineralization (Vetter Prospect), and distal gold-lead-arsenic-antimony associated with schist/quartzite-hosted mineralization (VR Prospect). Rubble of sulfide-quartz vein material occurs at numerous locations on Victory Ridge and Wishbone Hill. Mineralized pegmatites and altered granite with weakly anomalous gold values near the VR Prospect could suggest that blind, granite-hosted gold mineralization underlies hornfels forming the ridge.

Recommendations

1. Systematic grid-based soil sampling over most of the Victory Ridge gold property, with infill sampling focused on and around the VR, Vetter and other gold prospects. Samples should be analyzed for gold plus a multi-element ICP package.
2. Trenching at the VR, Vetter, and Crazy Eight prospects, and possibly other targets delineated by soil sampling. Trench floors should be mapped in detail and systematic rock chip channel sampling should be completed. Samples should be analyzed for gold plus a multi-element ICP package.
3. Property-wide geologic mapping, prospecting and rock grab sampling.
4. Ground magnetic and radiometric surveys along north-south lines to identify lithology, structural, mineralization and alteration trends.


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