Two kilometers southeast and parallel to the Bellekeno-Keno Summit trend, the Homestake trend shows several similar features that are recognized between the two distinct mineralized trends, including the continuation of the Keno Hill Quartzites and Triassic Greenstones known to host mineralization across the district. This mineralized trend is primarily controlled by Metallic Minerals and is defined by several highly-prospective areas, namely the Homestake, Divide, Faith, Segworth and Beauvette mineralized showings. Two prominent target areas in the Homestake trend are discussed below. Three additional parallel trends are identified further east of the Homestake trend as defined by the Cobalt, Gram, Gustavus and McMillan showings.
Homestake Target Area
The Homestake targets are vein structures within a broad structural corridor nearly 200 metres wide, with both longitudinal and transverse-style veins. The Homestake #1 vein shows classic Keno style, high-grade silver-lead-zinc mineralization, whereas the #2 vein also shows significantly elevated gold, which is characteristic of some structures in the larger deposits within the Keno Hill silver district. The strongest grades to date include assays of 4,027 g/t silver from drilling and 4,717 g/t silver from trenching on the Homestake #1 vein, and 22.1 g/t gold with 332 g/t silver from trenching on the Homestake #2 vein. The Homestake vein systems are exposed at the surface and are open to further expansion down dip and along trend.
The 2017 objective at the Homestake targets was to drill below, and along trend of, the shallow historic mining and sampling on the structure to determine the potential of the systems to host significant high-grade silver, lead, zinc and gold, and to provide vectors to assist follow-up exploration aimed at pursuing higher-grade material. All six 2017 drill holes intersected the mineralized Homestake structures, with highlight assays for all results to date shown below in Table 1. Offset drilling on the Homestake #1 and #2 vein structures is a key component of the planned 2018 exploration program, particularly down dip and along strike in a broad window of more massive Keno Hill quartzite, one of the preferred host rocks in the district.
Table 1: Highlighted Drill Results from the Homestake #1 and #2 Vein Structures
Ag Eq g/t
Equivalent (Ag Eq g/t) values assume Ag $16/oz, Pb $1.10/lb, Zn $1.25/lb, Au $1,250/oz, and 100% recovery.
The Homestake targets occur along the Homestake trend; one of the 12 known mineralized trends running across the Keno Silver District and traversing Metallic Minerals ground. It is the next major mineralized trend 2 kilometers east of the trend that hosts Alexco Resource Corp’s Bellekeno mine and is similarly underlain by the main Keno Hill quartzite package and locally-intruded by greenstone sills, which are the two key rock units that host most of the production and resources in the district. Originally discovered and worked in the 1920s and 30s, several tons of direct shipping ore were historically mined at the Homestake property. Limited exploration including trenching was completed on the Homestake block during the 1960s and 70s, with some shallow drilling and surface trenching conducted between 2008 and 2011. Both efforts returned significant high-grade results.
Exploration by Metallic Minerals on the Homestake targets in 2017 followed up the historic surface work with detailed stratigraphic mapping, magnetic and VLF geophysical surveys, as well as the extension of soil sample grids over the broad target area. Through this preliminary work, it was recognized that there was potential on the Homestake targets to significantly expand the known strike extent of mineralization by testing the more massive Keno Hill quartzite to the east of the main showings.
Diamond drilling in 2017 focused on testing down dip below the shallow historic sampling and along the structure to determine the potential depth and lateral extension of the open-ended mineralization in the best potential host rocks. Three drill holes successfully tested this concept by stepping out approximately 250 metres from the closest drill intercept of the #1 vein and 600 metres from the main cluster of previous drilling on the #2 vein (See Figure 2 below). The width of the structure in this area was particularly notable, extending over 15 meters in three mineralized structures. It is anticipated that future drilling will follow up the continuation of these holes down dip and along strike to the east as well as test the massive quartzite stratigraphy to the west of the main showing.
Divide and Faith Target Areas
The Divide and Faith target areas show at least four veins and cover the projected southern extensions of the Caribou and Avenue Veins. The presence of multiple veins that intersect each other and are offset by faults, sets up favourable conditions for Keno Hill oreshoots. The Divide and Faith targets have received little modern exploration outside of prospecting and soil sampling and have more cover than other targets areas on the property.
A soil geochemical survey over the area in 2011 returned an 800 x 900 m gold, silver and pathfinder element anomaly. The area is a priority for further soil sampling, detailed geological mapping and trenching.
Avenue and Beauvette Target Areas
Beauvette Hill, the location of the Avenue and Beauvette targets (see Figures 3 and 4), has seen little historic work but is directly on-trend with several productive mineralized structures from the Keno Summit area and appears to be underlain by what may be a significant array of greenstone bodies. In addition to the Keno Hill deposit, the Sadie Ladue mine, which produced 12.7 Moz of silver, is an example of a greenstone hosted deposit in a similar structural setting located on the north side of the Keno Summit area2.
Avenue is an area of quartzite and greenstones that is intermittently exposed over a strike length of 1.2 kilometres which has a coincident lead, zinc and silver soil anomaly in areas typified by shallow cover. The Avenue target is on-trend with several highly-mineralized veins where they continue into what is believed to be an array of significant parallel greenstone bodies, masked under shallow cover.
Surface sampling in 2016 at Beauvette Hill area resulted in the discovery of a new sulphide-rich vein showing at a quartzite and greenstone contact.