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Sheep Creek Gold District

Sheep Creek

The Sheep Creek Gold District is an orogenic gold district with historical gold production of almost 800,000 ounces at an average gold grade of 14.4 g/t. Margaux Resources has consolidated the claims in this district for the first time ever, to allow systematic, modern exploration of the 10 km long prospective belt.

 

A recent Geoscience BC Report has shown that veining at Sheep Creek is analogous to that in the Barkerville area. In contrast to Barkerville, the Sheep Creek Gold District has had minimal modern exploration since mining ceased in the early 1950’s.

 

The area is underlain by sequence of Cambrian metasediments, including argillite, quartzite and limestone, which are intruded by two separate intrusive events, one in the mid-Jurassic and the other in the Cretaceous. As a result of Jurassic accretion, the sediments have been folded into major anticline/syncline pairs with north-trending axial planes. Veins formed in the final stages of the accretion event, and are preferentially hosted within more brittle units within the metasedimentary sequence, or within pre-vein Jurassic intrusives.

 

In 2017, Margaux completed 19 hole (4039 m) diamond drill program on the Sheep Creek Gold District. Drilling was designed to test a variety of wide spaced, big-picture targets, as opposed to close-spaced definition-type drilling on a single vein. Targets tested in 2017 include: new veins with no previous drilling and no historic production (Maggie Aikens, Kat), the at-depth continuation of veins below the depth of historic mining (Bayonne, Bluestone), and conceptual blind-vein targets in brittle units, at depth in the core of anticlines. The program was highly successful. At least one promising new vein was discovered which requires further drilling. Gold grades were confirmed from 2 previously undrilled targets. Two veins were also shown to continue to depth, with good gold grade, below the limit of historic mining (Bayonne Main, A vein).

Sheep-Creek_Drill-Table

In 2018, Margaux drilled an additional 14 holes (3,218 m) to follow-up on the 2017 drilling at the Bayonne Main and A veins.  The 2018 drill program included step-out drilling to follow-up on high grade intercepts from 2017 drilling,  as well as exploration drilling in the eastern portion of the vein system, which was untested by any previous drilling.  Highlights are shown in the table below.

 

Of note are results from holes BA18-09, -10, -11 and -12 (grading 10.85 g/t Au over 1.14 m; 39.43 g/t Au over 1.40 m; 16.88 g/t Au over 0.88 m and 5.63 g/t Au over 0.98 m respectively). These four holes were 30 to 50 m step-outs from BA17-12 intercept (1 m @ 12.7 g/t Au), targeting the A vein below the level of historic mining.   The mineralized shoot intersected by these holes remains open, to the east, west, and to depth.

 

Drill holes BA18-01 to BA18-05 were drilled in the eastern portion of the vein system; here the vein splays and horsetails into a series of narrow veinlets, within a broad zone of strong alteration, with elevated gold values across the zone of alteration.

 

Hole BA18-03 intersected a wide zone of strong carbonate-sericite altered granodiorite with multiple narrow, mineralized quartz veins. A 12.22 m interval through the zone of alteration and veining graded 2.89 g/t Au, 20.5 g/t Ag, 1.04% Pb and 0.55% Zn. This represents the first time that low-grade, bulk-tonnage style gold mineralization has been intersected on the property and represents a quality target for follow-up testing.

 

2018-Sheep-Creek Drill-Results

Sheep Creek Vein

Veins in the Sheep Creek Gold District are high-grade, steeply dipping, sub-parallel, low-sulfide quartz veins. Individual veins averaged approximately 1 m in width and were mined over strike lengths up of up to 550 m and up to 500 m depths.

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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this website. Statements in this presentation other than purely historical information including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. This website contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results might vary materially from those described in this website. Readers should verify any & all claims and do their due diligence before investing in any securities mentioned. Investing in securities is speculative and carries a high degree of risk.
Linda Caron , P.Eng., VP Exploration  is a “Qualified Person” as defined under NI 43-101 has reviewed and approved the technical content of this website