Native gold was identified in two historic condemnation drill holes. Assays were returned of 5.72 g/t gold, 167 g/t silver, 0.18% copper and 1.35% WO3 (tungsten) over 1.75 metres, including 9.27 g/t gold, 225 g/t silver, 0.30% copper and 2.19% WO3 over 1 metre from the extension of the Black Diamond Vein. There were a total of 49 rock samples, of which 20 assayed over 1.0 g/t gold and as high as 28.5 g/t gold and 1,431.0 g/t silver. 28 of these samples are from the northeast extension of the Black Diamond Vein, tripling the length of the known vein system
The company has defined a 1-km-long gold trend extending from the historical Adanac Molybdenum resource southwest along Thor Ridge. The ridge hosts numerous veins including the Black Diamond and Emil veins. Surface sampling along this trend has confirmed the presence of gold, copper, silver, and tungsten mineralization. Current work has also identified native gold in two historic condemnation drill holes from 2008 (AD390 and AD393).
David O’Brien, President and CEO, commented, “The identification of free gold in sheeted veinlets from the historic Adanac Molybdenum condemnation drill core is great news as it supports our speculation of a potential intrusion-related gold bearing system in the area and another possible source for the incredible placer gold endowment of Ruby Creek and the Atlin camp.”
The condemnation drill holes are 2 km east of the main molybdenum resource area and contain the following – Hole AD-393 returned 73.2 metres of 0.21 g/t gold and 0.28g/t silver. Hole AD-390 returned 76.2 meres of 0.15 g/t gold, 0.42 g/t silver, including 21.35 metres of 0.21 g/t gold, and 0.11 g/t silver.
The Mineral Deposit Research Unit (MDRU) at the University of British Columbia performed detailed analytical work on the gold intersections from condemnation drill holes AD-393 and AD-390. Using a scanning electron microprobe (SEM) and an automated mineralogical procedure optimized to recognize gold, electrum was identified consisting of approximately 50% gold and 50% silver. The electrum is associated with bismite or bismuthinite and pyrite rimed by pyrrhotite within a 20-millimetre to sub-millimetre wide quartz vein hosted within the Surprise Lake Batholith (AD-390 at 34.6 metres). Many other veinlets with similar sulfide compositions also contained wolframite.
The 28,631-hectare Ruby Creek Project is road accessible and hosts 48 different documented mineral occurrences of which 16 are gold-related, with 7 significant gold placer creeks. The property also hosts the historic Ruby Creek Molybdenum resource, which has an intact BC Mines Act permit.