The former producer is part of an asset package acquired earlier this year from Quatsino Copper Gold Mines. The acquisition is subject to net profit royalties totalling 12.5%.
The property’s copper/gold/silver content was known by previous operators who began mining in 1957, however, the gold-bearing sulphides were left behind by miners whenever possible because the sulphur contaminated the iron ore. Taywin was also attracted to the property because of more recent sampling by provincial government geologists that returned substantial copper, gold and silver values in the sulphides.
The company recently sampled sulphide sections over one metre intervals along the northeast wall of the Merry Widow pit. Sampling on the first bench returned 18 ft (true width) of 0.46 oz gold, 0.9 oz silver, 1.6% copper and 0.04% cobalt. Selected results from the second bench include: 6.5 ft of 0.16 oz gold, 3.5 oz silver, greater than 5% copper and 0.04% cobalt; 10 ft of 0.49 oz gold, 2.1 oz silver, 4% copper and 0.01% cobalt; 13 ft of 0.33 oz gold, 0.9 oz silver, 1.9% copper and 0.02% cobalt; 10 ft of 0.52 oz gold, 0.7 oz silver, 1.5% copper and 0.02% cobalt.
Sampling on the third bench returned 10 ft of 0.65 oz gold, 5.1 oz silver, over 5% copper and 0.08% cobalt in massive sulphides.
Taywin said significant copper mineralization was also noted 400 ft below the Merry Widow pit in the Kingfisher adit, while prospecting south of the pit resulted in the discovery of a number of copper/ gold-bearing showings, including a massive sulphide outcrop.
A 2,000-ft diamond drill program is under way on the property to test for sulphides between the Merry Widow pit and the Kingfisher adit and in other key areas. Assays are expected shortly.
Donald Graham, president, noted that the project is strategically placed within trucking distance of BHP-Utah’s producing Island copper mine near Port Hardy, B.C.
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