Exploration firm keeping active in the Yukon

Despite an uncertain outlook for the Yukon exploration industry this season, Archer Cathro and Associates (1981) Ltd. expects to keep busy. The firm, with offices in Vancouver and Whitehorse, accounted for $4 million of the $10 million spent on exploration in the territory last year.

Partner Al Archer hopes Archer Cathro’s tally will climb to $5 million this year if the company can place all its properties.

Archer Cathro and Billiton Metals Canada will spend $2.5 million on the Blende project, a carbonate-hosted lead-zinc occurrence north of Mayo.

Between $400,000 and $600,000 will be spent at the Williams Creek copper property near Carmacks, Archer said. That’s optioned from Archer Cathro to Western Copper Holdings Ltd.

The site, which has been drilled, hosts preliminary reserves of 20 million tons averaging 1% copper. The oxidized upper half of the deposit is amenable to an open pit and heap leaching operation, Archer said.

He said the money is going toward infill drilling to prove up reserves in the open pit area. Archer said the deposit appears economic so far at a copper price of US80 cents per lb.

Another drilling program is planned this summer for Big Creek Resources, on a carbonate-hosted lead-zinc occurrence similar to the Blende. The property is about 19 miles northwest of the Blende.

Archer said a budget of about $200,000 has been allotted for 4,000-5,000 ft. of diamond drilling, with more money available if results are positive.

Big Creek also has a belt of porphyry copper occurrences near Carmacks. Archer said at least $500,000 will be spent this summer drilling the Cash and Revenue properties.

Archer Cathro helped form a new junior exploration company, YGC Resources. Archer said the junior has staked six volcanogenic massive sulphide deposits in the Yukon.

One of these — the Wolf, near Ross River — has already been optioned to Cominco, Archer said. YGC will spend another $250,000 on drilling the other properties this summer. Most are in the Dawson area.

Archer Cathro is also trying to arrange financing for three shale-hosted nickel occurrences in the territory. All are owned by NDU Resources (VSE).

And Archer Cathro represents a group of four investors which has staked a coal property.

“My belief is that we’ve got a very good coal occurrence near Braeburn,” Archer said. “I think coal is a real alternative in the Yukon to replace diesel.”

On the lookout for more power sources to supply growing demand is Crown corporation Yukon Energy Corp. But, Archer said, the territorial agency has so far shied away from coal as a fuel source.

Archer argued that benefits outweigh the disadvantages. He said coal’s price is stable, it’s cheaper to develop than hydroelectricity and a coal mine would contribute to the local economy.

Archer said he is confident he can raise $500,000 to prove up tonnage to satisfy a 25-megawatt power plant for 30 years.

Archer Cathro is still seeking an option for a program on the Marg, a volcanogenic massive sulphide deposit near Mayo, which is owned two-thirds by NDU and one-third by Cameco of Saskatoon.