Gold Summit Project, BC
Ownership:
- Gold Summit Core
- 85% St. Elias Mines Ltd.
- 15% Chai Cha Na Mining Inc.
- Gold Summit Extensions
- 100% St. Elias Mines Ltd.
Property Option Agreement:
- Chai Cha Na Mining Inc., has earned an initial 15% working interest in the Gold Summit Core property
Mineralization:
- Au-polymetallic vein mineralization
Technical Reports (43-101):
The Property:
The Gold Summit Gold Property is situated in the Chilcotin Ranges of south central British Columbia, and is located about 50 kilometres east of Lillooet. Access to the property is gained by Marshal Lake Road which from Lillooet is accessed by Bridge River Road and Carpenter Lake Road. Numerous logging roads provide convenient access throughout the property and to the principal mineralized showings.
The property covers 2,973 acres (29.73 km2) and is located within the prolific Bridge River Mining District, which hosts the Bralorne-Pioneer gold-silver mines. Reported historical production of the Bralorne-Pioneer camp is about 4.15 million ounces of gold and 0.95 million ounces of silver.
The Gold Summit property hosts a number of roughly east-trending, shear hosted, mesothermal gold-silver ± polymetallic quartz vein occurrences. Historical exploration efforts have identified a lengthy quartz vein/shear (Adit Zone) and several other less extensive quartz veins/shears. In many cases, the veins are masked by overburden or are structurally offset. The Adit Zone hosts the property’s main occurrences of quartz-sulphide vein mineralization. This gold-enriched structure has been traced on surface for a distance of approximately 400 metres, varying in width from 0.25 metres to about 2.0 metres; with dip orientations ranging from 30° to vertical. Historical reports indicate that select high-grade Adit Zone quartz vein samples can yield gold assays of greater than 1.0 opt. However, the gold-enriched vein-shear material typically reports gold values on the order of 0.1 to 0.3 opt gold.
Between 1981 and 1994 two exploration companies, Quinto Mining Corporation and Gold Summit Mines, conducted exploration programs in efforts to define the grade and size of the deposit. Work included geological mapping, prospecting, geochemical surveys, geophysical surveys, dozer trenching, and drilling. To date, 6 diamond drill holes have been completed on the property. Significant results from these holes include 2.5 ft grading 2.573 opt Au and 1.5 feet grading 0.563 opt Au.
This work resulted in the extension of the vein system to 1200 metres and the down dip continuity of the vein system to 150 metres.
The claims were ultimately allowed to lapse and little activity occurred on the property until 2008. At this time St. Elias Mines had acquired the ground covering all historical work on the Gold Summit property and optioned 15% of the core of the property to Chai Cha Na. Chai Cha Na carried out 2 major soil geochemical surveys to verify Gold Summit Mines historical geochemical survey and determine detailed orientation of gold in soil anomalies. Results from this survey successfully identified zones of gold in soil mineralization that correspond to areas of previously known gold in soil anomalies and have identified new trenching targets based on detailed in-fill around these anomalies.
Recommended Work:
It was recommended by the author of the 43-101 technical report that the Gold Summit first-phase of exploration should focus on historically established soil geochemical anomalies and gold showings. To this end, Chai Cha Na carried out 2 major soil geochemical surveys that successfully identified zones of gold in soil mineralization that correspond to areas of previously known gold in soil anomalies and have identified new trenching targets based on detailed in-fill around these anomalies. It is recommended that a trenching program be carried out to determine the source of the new gold-in-soil anomalies.
Peru 