OWEEGEE DOME PROPERTY
Oweegee Property
The Oweegee Property lies 80 kilometres northeast of Stewart and covers 31,077 hectares. The property is hosted in the Stikine terrane and is underlain by the lower Jurassic Hazelton Group, the late Triassic Stuhini Group and the Devono-Mississippian Stikine Assemblage which are exposed in a north-trending anticline; the ‘Oweegee Dome’. The anticline exists in an inlier of older stratigraphy surrounded by middle Jurassic aged Bowser Lake group sediments. Mapping by the British Columbia Geological Survey has identified the unconformable contact between the Triassic Stuhini Group and the Jurassic Hazelton Group as one key targeting feature for porphyry and related deposits within the Golden Triangle. The Oweegee Property contains this contact zone. The property has a long exploration history including airborne geophysics, ground sampling and diamond drilling, with the ground surveys and shallow drilling focused on the two-kilometre long A Zone Deltaic Grid porphyry target. Drilling highlights from 2,220.5 metres in 8 drill holes include: • DDHDC07-03 – 138.67 metres grading 0.189 g/t Au and 0.074% Cu, including o 17.14 metres grading 0.468 g/t Au and 0.11% Cu and o 17.08 metres grading 0.140 g/t Au and 0.17% Cu • DDHDC96-02– 80.1 metres grading 0.248 g/t Au and 941 ppm Cu and o 24.4 metres grading 0.262 g/t Au and 0.16% Cu Five drill holes totaling 1195.7 metres were completed by Viceroy Resource Corporation in 1996. The complete 1996 results can be found in British Columbia Ministry of Energy and Mines Assessment Report 24867. Three drill holes totaling 1024.8 metres were completed in 2007 by Weekes Investment Group, a private corporation. The complete 2007 results can be found in British Columbia Ministry of Energy and Mines Assessment Report 30126. Magnetic surveys indicate mineralization correlates with a large aeromagnetic low, a typical porphyry deposit setting. Several additional airborne geophysical anomalies have been located throughout the large property and remain largely untested.
2018-09-04
Sold to Arcwest Exploration (formerly Sojourn Exploration) on September 14th, 2018
Location and Setting
The Oweegee Dome Property is located in northwest British Columbia’s mineral-rich Golden Triangle, approximately 74 km northeast of the town of Stewart, which boasts a year-round, ice-free port. The Stewart–Cassiar Highway 37 passes through the western Tenures. In addition, the 344 km long, 287 kv Northwest Transmission Line passes through the Property and five access roads provide entry to the stratabound zinc targets on the Delta West Grid. The principal exploration target, the Deltaic Grid, is located only 5 km east of the transmission line.
Royalty Information
Millrock sold the property to Arcwest Exploration Inc., (TSX-V: AWX) ("Arcwest") and now owns 9,623,417 Arcwest shares, representing a 16.1% interest in the company.
Millrock holds a 2% (1.5% on certain portions) royalty, buyable down to 1% for $1 million, on the project.