The Jackpot property occurs within the Kootenay Arc, a regional zone of deformation that straddles the boundary between sediments deposited off the western margin of ancestral North America and the accreted Quesnel terrane. The Kootenay Arc hosts numerous carbonate-hosted lead-zinc deposits, including the past-producing Jersey, HB and Reeves MacDonald mines in the Salmo area, and the Pend Oreille mine in northern Washington, currently in production by Teck.
Several zones of Kootenay Arc-type zinc-lead mineralization occur on the Jackpot property, which Margaux acquired in late 2016. Previous exploration has primarily focused on the southern part of the claim group, where the Jackpot Main, West, East and Lerwick mineralized zones are located. Margaux completed its inaugural drill program on the property in 2017, to confirm historically reported zinc mineralization in this area. Drilling was highly successful, with several high-grade zinc intercepts, as shown below.
Long intercepts of low-grade zinc mineralization were also intersected by drilling, suggesting potential for near-surface, lower-grade, potentially open-pittable zinc mineralization:
Margaux believes there is good potential to expand the known zones of mineralization in this part of the property, and to discover new zones of mineralization. Numerous high quality drill targets have been identified for subsequent drill testing.
In the northern part of the Jackpot property (the Big Zinc area), discontinuous pods and large lenses of high grade zinc oxide mineralization occur along the Oxide Fault, with grades of up to 16.3% Zn over 5.8 m reported. The zinc oxide lenses and boulders are interpreted as having been displaced from their parent sulfide source, and affected by surface weathering. Intermittent exploration since the early 1940’s has attempted to locate the sulfide ore body responsible for the widespread zinc oxide mineralization. Based on historic data, available historic drill core and recent mapping and sampling by the company, Margaux geologists believes the parent source could be a sizeable body of Sedex-type lead-zinc mineralization. Sedex deposits have the potential to be world-class deposits (i.e. Sullivan, Red Dog, Mt. Isa). The company has identified targets for drilling at Big Zinc and looks forward to future exploration of the area.