Big BearLocated in the Nechako Plateau's prolific Omineca Mining District, the property consists of 31 claims covering approximately 27,335 hectares; access is via maintained Forestry Service Roads (FSR) roughly 100km Southwest of Vanderhoof, British Columbia.
The Nechako Plateau is located within the Stikine Terrain which underwent regional uplifting that exposed a horst of Jurassic and Cretaceous volcanics and intrusives surrounded by Tertiary and younger volcanics and volcaniclastics. Extensional faulting and related structural activity, in addition to the presence of significant precious metal-rich hydrothermal systems, present an attractive geological setting for high-level precious metal epithermal, subvolcanic intrusive porphyry and transitional deposits.
The Big Bear property is strategically located between New Gold Inc.'s Blackwater property, and their newly acquired Capoose property1. Big Bear is considered highly prospective for a geologically congruent occurrence to that observed at New Gold's Blackwater property; the deposit is characterized as a low sulphidation epithermal and/or subvolcanic porphyry to transitional mineralization system. Interestingly, the Big Bear property is centered on a 2.5km diameter aeromagnetic high anomaly that extends to both the Blackwater and Capoose deposits.
New Gold's recent acquisition of Silver Quest Resources has strengthened their mineral and land holdings in this highly prospective epithermal gold-silver area. Following this acquisition, New Gold has consolidated their 100% ownership of the Blackwater Project, through the addition of the remaining 25% interest in the Davidson Property forming the northern half of the Blackwater gold-silver deposit. Furthermore, New Gold has earned a 100% interest in the Capoose Property, located adjacent to Blackwater, and encompassing over 410km2 of land with an established gold and silver resource. These two significant acquisitions have nearly tripled New Gold's overall land holdings in the area, from 240km2 to 670km2; currently New Gold's land holding encircle much of the Big Bear property.
Following New Gold's recent acquisition of Silver Quest Resources, the indicated gold resource on the Blackwater property has been augmented to 5.4 million ounces and 25.5 million ounces of silver (165 million tons at an average grade of 1.01 g/t Au (gold) and 5.1 g/t Ag (silver)) with an additional 1.2 million ounces of inferred gold resource (39 million tons at an average grade of 0.94 g/t). Additionally, the Capoose Property has an indicated gold resource of 0.4 and 26.6 million ounces of silver (31 million tonnes at an average grade of 0.38 g/t Au and 26.5 g/t Ag) and an inferred resource of 0.4 and 29.5 million ounces of gold and silver respectively (37 million tonnes at an average grade of 0.37 g/t Au and 24.6 g/t Ag)2.
As Outcrop at the Big Bear property is limited, the 2011 Exploration program aimed to substantially increase our understanding of the large property in order to establish target zones. Phase I saw the Big Bear field crews complete a comprehensive, property-wide, stream sediment-sampling program of all drainage systems in order to evaluate the potential for mineralization similar to that found on adjacent properties. Sample values ranged from less than 0.5 parts per billion (ppb) to 61.4 ppb gold in the 159 silt samples collected3. Two samples collected in different areas of the property that fell above the ninety-fifth percentile for gold were followed-up with detailed stream sediment sampling. Phase II work included the collection of 2,634 soil samples taken across the Big Bear property at 50-metre intervals on lines spaced one kilometre apart. Results are expected soon4.
1New Gold Inc., "News Release." December 23, 2011.
2New Gold Inc., "News Release." December 23, 2011.
3Parlane Resource Corp. "News Release." September 26, 2011.
4Parlane Resource Corp. "News Release." September 26, 2011.