CANALASK PROPERTY

The Canalask Property is located in the Whitehorse Mining District, approximately 320 km west of Whitehorse and is accessible from the Alaska Highway near Beaver Creek, Yukon. The Canalask property consists of a contiguous block of 179 quartz claims covering an area of approximately 3,400 hectares.

Background

Victoria Gold owns 100% of the current claim package, which has a long history of exploration and development.

The first 32 claims on the Canalask property were first staked in March of 1953 as the White, Wolverine, and Caribou claims by P. Eikland, W. Theriault and F. Hickey. The 32 claims were optioned to Prospectors Airways Company Ltd, on behalf of a syndicate which included Noranda Mines Ltd and Kerr Addison Gold Mines Ltd (Yukon Minfile, 2017). The syndicate drilled 14 holes totalling 1,652.3 m then dropped the option in March of 1954.

The claims were optioned again in May of 1954 to Canalask Nickel Mines Ltd. Canalask Nickel Mines Ltd. was created by Ontario Nickel Mines Ltd. and Frobisher Ltd. to develop the Canalask property (Yukon Minfile, 2017). From 1954 to 1958, Canalask Nickel Mines Ltd. conducted 1025 m of surface drilling and 466.7 m of underground drilling as well as 518.2 m of drifting on 2 levels and a 106.7 m winze. In 1963, Canalask Nickel Mines Ltd. changed its name to Northwest Canalask Nickel Mines Ltd and allowed the claims to lapse.

The property was restaked as the Micro claims in March of 1964 by P. Versluce, H. Versluce and C. Gibbons. From 1965-1966, the claim owners conducted trenching on the property before optioning the claims to Discovery Mines Ltd., Rayrock Mines Ltd. and Consolidated Canadian Faraday Ltd. in 1967.

Discovery Mines Ltd., Rayrock Mines Ltd. and Consolidated Canadian Faraday Ltd. conducted magnetic, EM, and IP geophysical surveys, trenching, and 399.6 m of diamond drilling. The group conducted 1,006.0 m of surface drilling, re-opened the old underground workings and accomplished 370.9 m of underground drilling. The option was dropped in the 1970 and the owners did more trenching before they optioned the claims to the Nickel Syndicate (Canadian Superior Exploration Ltd., Aquitaine Company of Canada, Home Oil Ltd., and Getty Mines Ltd.) in 1972. The Nickel Syndicate conducted geological mapping, magnetic, and EM surveys as well as 640.0 m of diamond drilling. From May to June of 1973 the Syndicate stake 39 claims in the area. In 1974, the Nickel Syndicate dropped the option. In 1978, the claim owners reconditioned the portal.