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Swift Katie Property

Overview

Valterra's 100%-owned porphyry/shear-hosted Cu-Au-Ag Swift Katie property is located 7km SW of the village of Salmo, BC.  The large property consists of 19 contiguous MTO mineral claims in good-standing to 2025 that cover an area of +83 sq. km.  The project benefits from an excellent infrastructure network of roads, rail, power, proximity to the Trail smelter and a skilled workforce (regional pop.  >25,000).

Figure 1: Regional Infrastructure     View larger image

Regional Setting

Located in the Quesnellia Terrane of southern BC, the belt has hosted several past-producing mining camps such as Sheep Creek and Rossland (~3.0M oz. Au).  Three main mineral showings - the Katie (or Jim), Swift (or Gus) and Ace in the Hole were explored separately in the 1980s by Noranda and Falconbridge.  There’s been numerous geological, geochemical and geophysical surveys completed on the property which successfully identified several mineralized exploration targets resembling alkalic porphyry Cu-Au deposits (Katie), and more Au-Ag enriched vein and shear-hosted systems (Swift).

Figure 2: Regional Geology     View larger image

 

Figure 3: Airborne Resistivity & Primary Target Zones

 

Swift Au-Ag-Cu Target Area

Host rocks for the Swift are foliated and sheared volcanic units of the Lower Jurassic Elise Fm.  Gold is hosted in quartz and quartz-carbonate veins in strongly propylitized areas of mixed carbonate-silica-sericite and limonite alteration.

In November 2016, Valterra drilled adjacent to historical collar 87-6 targeting a near surface zone with hole SK16-011 and returned 0.96g/t Au over 6.6m.  The overall 2016 program included the collection of 120 soils (up to 700ppb Au), 30 rock samples were assayed (up to 1.74g/t Au) and 6 NQ2-sized drill holes totalling 1,954m were completed on two priority areas at Swift (see Table 1).

Table 1: 2016 Swift Drill Assay Results

Reported intervals are core lengths, true widths undetermined.  Core samples were prepared and analyzed at Bureau Veritas Labs in Vancouver BC.  Accuracy of results is tested through the systematic inclusion of QA/QC standards, blanks and duplicates.

Figure 4: Plan Map of Drilling at the Swift Target SE BC     View larger image

Previous Swift Drill Highlights*:

  • 3.5m grading 13.3g/t Au, 201g/t Ag & 0.33% Cu from hole SK14-002
  • 10m averaging 1.83g/t Au from hole 87-6, including 2.0m grading 5.15g/t Au;
  • 1.5m grading 1.43g/t Au from hole 87-7; and
  • 3.6m averaging 1.27g/t Au from hole 87-8

* Historical assay results have not been verified by Valterra and should not be relied upon as such.

Katie Cu-Au Deposit Area

The Katie deposit is interpreted as an alkaline copper-gold porphyry system, with a potassic core surrounded by a broad propylitic zone. Potassic alteration corresponds to the elevated copper and gold values. Sulphide minerals include py and cpy with minor po, sph, tetra, bn and mo.

Drilling to date has identified three areas on the Katie claims of significant Cu-Au mineralization, defined in 72 drill holes, which when modelled form a semi-continuous +0.1% Cu grade shell over an 1,800m cumulative strike. An internal report by Micon Engineering has identified 8 infill holes totaling 2,600 metres designed to upgrade continuity within the mineralized zone toward building a compliant Cu-Au Mineral Resource on the property. Widespread Cu-in-soil anomalies suggest several additional untested targets.

Further exploration could see the rapid expansion of the Katie Cu-Au deposits on the property through offset drilling and on several additional targets throughout the property.

Figure 4: 3D Model - 0.1% Cu Shell @ Katie Deposit  View larger image

Table 2: Select 2008 Diamond Drill Assay Composites @ Katie Main Zone

NQ Drill Core Selected From 2008 Katie Main Zone


Hole VKT08-064: Andesite Porphyry
0.23% Cu & 0.24 g/t Au over 1.98m


Hole VKT08-068: Sericitized Andesite + Quartz-Calcite Veins
0.40% Cu & 2.20 g/t Au over 1.90m

Exploration Potential

Epithermal Au-Ag Target – Swift Area: Gold-silver-polymetallic veins on the Swift target have seen sporadic exploration over the last 20 years. High-grade gold mineralization is hosted in quartz-sericite-pyrite-altered structures within a broad propylitic alteration halo. Gold is identified on surface and in drilling and is open on strike and at depth. Au-Cu deposits in the nearby Rossland district (~3.0Mozs production) may be a direct analogue.

Porphyry Cu-Au Target – Katie Area: three mineralized zones, the Katie Main, West and 17, are identified on the property; each only partially defined with significant exploration upside through offset drilling. Widespread Cu-in-soil anomalies suggest several additional untested targets property-wide.

Figure 5: Exploration Model - Au-Cu deposits in the nearby Rossland district (~3.0Mozs past production).  Swift Katie may be a direct analogue to Au-Cu systems at Rossland.

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Valterra Identifies Two New Gold Zones on Swift Target in 2017 Drilling
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