HOOD RIVER PROJECT
The Hood River property is contiguous to the Ulu lease to the north, east and south. The property is held through a renewable, 20-year Mineral Exploration Agreement with Nunavut Tunngavik Incorporated. The highly prospective property encompasses 8,015 ha.
A large number of high-grade gold showings occur throughout the property which provide for excellent resource expansion potential at multiple targets. The main exploration target for the property is shear-hosted gold mineralization similar to the Flood Zone on the adjacent Ulu lease.
The series of the gold showings and prospects that occur on trend and north of the Flood Zone are considered to be related to the ~5 km long Ulu Fold which hosts the Flood Zone and extends to the NFN Zone. At least five gold prospects have been identified to date on this key structural feature.
8,015 ha exploration concession
Underexplored, high potential for new discovery
20+ gold drill targets identified for future resource growth
Promise of property stems from the fact that it shares the same deformation history (including tight folding) and the same volcano-sedimentary stratigraphic sequences as the Flood Zone (Ulu anticline) as well as QFP dikes
High-grade surface samples up to 220 g/t Au (Penthouse Trend) on numerous showings may represent other structural trends, deposits
Very underexplored, and hosts excellent potential for new discoveries, i.e. Crown-Pro Trend
Mineralization occurs as quartz veins and sulphide replacement zones and stockworks, strongly altered basalts; polymetallic qvs + acicular aspy style present
Prospective trace of the north trending fold axis, which links the Crown showing to the Pro Zone 4 km to the north, remains untested. Sulphide mineralization and Au grades to 15 g traced for 400m at Pro Zone
Further prospecting, sampling to identify and prioritize targets