Full Metal Minerals (FMM) is actively targeting White Gold-style mineralization within Eastern Interior Alaska. The White Gold property (~1.6M oz Au) is located within the Yukon-Tanana Terrane, a complexly deformed meta-igneous and meta-sedimentary package that extends from the Yukon Territory, into Eastern Interior Alaska. Mineralization at the White Gold Property (Kinross/Underworld) is composed of structurally controlled, quartz-pyrite stockwork, vein and vein breccias hosted within Permian augen gneiss and amphibolite-facies metamorphic rocks. Drilling in 2008 and 2009 by Underworld Resources collectively defined an indicated resource of 1.005 Moz at 3.2 g/t Au and an additional 407,000 oz or Inferred Resource at 2.5 g/t Au.
A major Yukon claim staking rush has occurred in areas surrounding Underworld’s White Gold property and Kaminak’s Coffee Creek Discovery from June 2009 until present. Structural, lithologic, and temporal trends that encompass the White Gold area are apparent within Eastern Alaska. FMM is focusing reconnaissance efforts within Eastern Interior Alaska, utilizing exploration criterion developed by shared Underworld/Full Metal personnel during discovery of the White Gold deposits.
Approximately ~210 State of Alaska Mining claims in nine blocks (~34,000 hectares) were recently staked by Full Metal is targeting lode gold mineralization within the Eagle and Tanacross quadrangles of Eastern Interior Alaska. The mining claim blocks span ~100 kilometers from the Alaska side of the Canadian Border into Eastern Alaska.
Current exploration is focused within and adjacent to the historic Fortymile mining district, the oldest placer gold district in Alaska. Since 1886, more than 535,000 ounces of placer gold have been produced through hand and mechanized mining of alluvial deposits from active and ancestral stream drainages. To date, no large-scale source for the Fortymile district’s placer gold has been identified. Other prospective mineral occurrences in the area include intrusion-hosted gold, porphyry copper-molybdenum, and Zn-Ag-Pb-Cu carbonate replacement (CRD) deposits and occurences. Since 2006, Full Metal has been actively exploring CRD and porphyry targets in
Full Metal Minerals has received encouraging results from the 2011 Rolling Thunder exploration program in the historic 40 Mile district. This year’s program collected 2,373 soil samples, 379 rock samples, and 178 trench samples. Soil sampling focused on completing coverage of the ridges and spurs on Rolling Thunder claim blocks as well as expanding grids at South Pika and McElfish prospects and placing a soil grid at the Pika target.
Particularly encouraging silver values were returned from the Pika prospect. Grab samples of sulphide veins returned 5,750 and 4,950 g/t Ag. Mineralization is associated with strong sericite-limonite-silica alteration observed in dominantly augen gneiss, a soil grid was established measuring approximately 2,000 by 2,000 meters at 50 meter centers and 100 meter line spacing. Within the soil grid, as well as expanded ‘ridge and spur’ soil lines, five separate multielement soil trends were identified, ranging from 400 to 1,800 meters in length. One of these particular trends is 1,800 meters in length; 239 samples range from trace to 6.9 g/t Ag in soil, averaging 1.0 g/t Ag.
Due to limited bedrock exposure at Pika, ten trenches were completed across the Pika prospect. Trenches primarily targeted a series of mineralized NNE-trending structures carrying anomalous Au, Ag, and/or Pb. Trenches PC11-02 and PC11-03 contained 2.8ppm Ag and 1,153ppm Pb over 17.7m and 1.9ppm Ag and 402ppm Pb over 30m, respectively. One grab sample from PC11-04 assayed 256ppm Ag and 4.49% Pb. Several of the grab sample highlights in the Pika area are listed below.
Two new claim blocks at Rolling Thunder, West Pika (81 km²) and Gold Fish (37 km²) were staked this season after receiving results from ridge-and-spur soil sampling and prospecting. The West Pika claim block is adjacent to the Pika claim block. One grab sample of a mineralized quartz vein on West Pika yielded 2.31 g/t Au, 343 g/t Ag, 6,040 ppm Pb, and 1,700 ppm Bi. The Gold Fish claim block is located adjacent to the west to the Company’s Willow claim group in the northwestern portion of the target area.
An expansion of the soil grid completed in 2010 at the McElfish claim block, located approximately 20 kilometers southeast of Pika. A total of 197 soils were collected on 50 meters centers and 100 meters spaced NW-SE lines.
Assay results show two ~1 kilometer NE trending Au anomalies with a width of 200-500 meters and values ranging between 20-200ppb. The anomalies are still open to the southwest.
Full Metal’s management and geologic team were shared with Underworld Resources, which made a significant discovery at the White Gold Project in the Yukon. Underworld was acquired by Kinross Gold in the spring of 2010. The technical team utilized this experience and understanding of geologic controls, geochemistry and exploration targeting methods which was successful at White Gold to stake these new claims.
The White Gold district in Alaska occurs within a mineral belt of Cretaceous age deposits, prospects, and placer gold mines trending from the Minto mine in the southwest, and includes porphyry copper and epigenetic gold deposits and prospects such as Freegold Mountain (Northern Freegold), Casino (Western Copper), White Gold (Kinross) and Coffee (Kaminak). This mineral belt strikes to the northeast from the Yukon into Alaska, and includes Full Metal’s Rolling Thunder claims, the Fortymile placer district, and Full Metal’s high-grade Zn-Ag-Pb-Cu carbonate replacement deposits (see News Release FMM 2010 – NR #5, June 3rd 2010). Over 30 companies are actively exploring along this trend in the Yukon, with an ongoing staking rush up to the Yukon-Alaska border. Full Metal Minerals is the only company currently active in the Alaska section of this belt.
Placer gold mining has been ongoing in the Fortymile district since the late 1800’s, with over 550,000 ounces of placer gold produced (from Szumigala et al, Alaska DGGS Report 2000). The area is underlain by the same host rocks, a similar tectonic history and intrusive rocks to the White Gold District.
Full Metal and BHP completed an extensive reconnaissance program in the southern portion of the target area during 2008, exploring four porphyry targets. In 2009, Full Metal regained a 100% ownership of this program, after BHP completed extensive geochemical surveys and a large airborne magnetic survey. In addition to a proprietary geochemical data set owned by Full Metal from historic operators, the Company utilized this data in targeting several of the new claim groups.