SKUKUM GOLD PROJECT
Whitehorse Gold Corp. is focused on its wholly owned Skukum Gold Project located in southern Yukon, Canada, approximately 55 kilometres south of the Territory’s capital city, Whitehorse. The 170.3 sq-km property consists of 1,051 full or fractional Quartz Mining claims that encompass the Skukum Creek gold-silver deposit, the Goddell gold deposit, and the past-producing Mt. Skukum gold mine.
The three identified deposit types that occur on the Skukum Gold Project are typically structurally controlled gold±silver±base metal bearing veins or vein breccias.
The Mt. Skukum deposit is a structurally controlled epithermal gold deposit hosted in Eocene volcanics. Low temperature auriferous quartz-calcite-adularia veins occur along brittle fractures and faults with little shearing and appear to be formed at shallow levels.
The Skukum Creek deposit is a structurally controlled, polymetallic gold-silver, deep epithermal vein deposit hosted in Mid-Cretaceous Mt. McNeil granodiorite. In the Skukum Creek area, zones of mineralization are hosted primarily by a series of linked, northeast-trending faults that may represent splays off the Berney Creek fault system.
The Goddell deposit is a structurally controlled shear-hosted gold deposit. Mineralization is associated with altered felsic dykes within the shear zone. The shear zone is located within Mid-Cretaceous Carbon Hill granodiorites.
Resource Estimate (2020)
| Deposit | Resource classification | Tonnes | Au g/t | Ag g/t | AuEq g/t | Total contained oz Au | Total contained oz Ag | Total contained oz AuEq |
|---|---|---|---|---|---|---|---|---|
| Skukum Creek | Indicated | 1,001,300 | 5.85 | 166.4 | 7.75 | 188,334 | 5,355,478 | 249,401 |
| Inferred | 537,000 | 4.99 | 108.3 | 6.22 | 86,124 | 1,869,065 | 107,415 | 107,415 |
| Goddell | Indicated | 329,700 | 8.13 | - | 8.13 | 86,210 | - | 86,210 |
| Inferred | 483,900 | 7.13 | - | 7.13 | 110,867 | - | 110,867 | 110,867 |
| Mt. Skukum | Inferred | 90,100 | 9.28 | 12.9 | 9.43 | 26,882 | 37,368 | 27,308 |
| Total Indicated | 1,331,000 | - | - | - | 274,544 | 5,355,478 | 335,611 | 335,611 |
| Total Inferred | 1,111,000 | - | - | - | 223,873 | 1,906,433 | 245,590 | 245,590 |
Notes:
Mineral resource estimate prepared by GeoSim Services Inc. with an effective date of October 1, 2020.
Mineral Resources are not mineral reserves and do not have demonstrated economic viability. An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
A base case cut-off grade of 3.0 g/t Au represents an in-situ metal value of US$126 per tonne at a gold price of $1450/oz, silver price of $16.50/oz and a metal recovery of 90% for gold and silver, which is believed to provide a reasonable margin over operating and sustaining costs for narrow vein mining and processing.
Mineral resources are diluted to a minimum width of 1.5 metre.
Scientific and technical information on this website is derived from the Technical Report entitled “Skukum Gold-Silver Project, NI 43-101 Technical Report, Whitehorse Mining District, Yukon Territory, Canada” dated effective October 1, 2020 and authored by Ronald G. Simpson, P.Geo. from GeoSim Services, Inc. and filed on the company’s SEDAR profile.
The gold equivalent formula used was AuEQ = Au + Ag * 0.0114.
Totals may not sum due to rounding.