Decade Resources Ltd. [DEC-TSXV; DECXF-OTC] reported final drill results for the Lord Nelson property located 34 km east of Stewart, B.C. that comprises 2,630 hectares in six separate claims. The property is located along a contact zone of volcanics to the west and sediments to the east.
Decade can earn up to a 55% interest in the Lord Nelson property from Teuton Resources Corp. [TUO-TSXV; TEUFF-OTC; TFE-FSE] by paying $100,000 over four years with an initial payment of $10,000; issuing 400,000 shares on signing; issuing an additional $90,000 of Decade stock over four years and spending $2-million over five years.
Decade has the right to earn an additional 20% by placing the property into production. Teuton retains a 2% net smelter royalty. The agreement is subject to TSX Venture Exchange approval.
Drilling was completed to test an area with veins and lenses of high-grade copper and gold mineralization along the Lord Nelson/Del Norte property boundary. The drilling was located at the east edge of the copper-gold-bearing zone to check for down-dip extensions. It appears that the main zone has a shallow dip to the east and holes tested beneath it. Highlights include 4.73 metres of 1.31% copper and 1.75 g/t gold, 0.70 metres of 0.532% copper and 1.68 g/t gold, 1.71 metres of 1.08% copper and 0.14 g/t gold, and 3.05 metres of 1.06% copper and 0.40 g/t gold.
Ed Kruchkowski, president of Decade, stated: “The Lord Nelson tenures require more exploration to establish the dip and strike of the copper-gold-bearing zones. There are numerous exposures of copper-gold-bearing horizon traced for 1.2 kilometres and a width of 200 metres to 300 metres. The horizon shows some similarities to the gold-copper replacement horizon called the O-zone on the south side of the Del Norte claims. In the O-zone, the best drill intercept ran 15.2 metres grading 3.63 grams per tonne gold and 0.410% copper.”
At present, the company is actively exploring newly located claims near Mount Milligan that appear to have copper-molybdenum mineralization. In addition, the company is starting a prospecting program on the lower levels of the Treasure Mountain property.
Decade Resources holds numerous properties at various stages of development and exploration from basic grassroots to advanced ones all located in the Golden Triangle area of Northern British Columbia.