SUMMARY

  • Acquired by Golden Sky Minerals in 2021 through staking and property purchases
  • Large ~11,000-hectare consolidated land package
  • Located in a well-established copper-gold producing district of the Quesnel Trough, British Columbia
  • Along trend with the New Afton Mine, Copper Mountain Mine, Highland Valley Copper Mine, and Mount Polley Mine
  • Located just ~20 km east of 70 Mile House, British Columbia resulting in cost-effective exploration
  • Excellent year-round access along well-maintained service and logging roads that branch off of the nearby Highway 97
  • The Rayfield Copper-Gold Property is a quality project with immediate exploration upside and has the potential to yield a major copper-gold porphyry system.
The Rayfield Property is located in the Quesnel Trough, which is host to some of British Columbia’s most productive copper-producing mines. Underlying the Property is the Late Triassic alkalic Rayfield River Pluton, which has been speculated to be part of the highly prospective Late Triassic Copper Mountain Magmatic Belt in British Columbia. The Property largely covers an area of exposed Late Triassic to Early Jurassic Nicola volcanic and intrusive rocks that are typically capped by Miocene to Pliocene basaltic flows and related sediments elsewhere in the region. Several Late Triassic to Early Jurassic plutonic phases is present with syenite, hornblende syenite, leucosyenite, and diorite being the most common. Mineralization is present as primary sulphides (chalcopyrite and bornite) and as secondary minerals (native copper, cuprite, malachite). Secondary minerals tend to be present within fault zones, clay gouge and breccia, whereas the sulphides are interstitial within the syenite or commonly associated with potassium feldspar veinlets.
  • Since the 1960’s, historic exploration on the Rayfield Property has been largely constrained to a ~505-hectare zone with an extensive copper-gold porphyry system outlined by soil sampling, drilling, and shallow penetration radiometric and IP geophysical surveying. Mineralization in several historic drillholes extends from surface to end of hole, which suggests that the mineralized porphyry system remains open to depth. Previous exploration programs were unable to constrain the exact orientation of the porphyry system, but it is believed to be striking to the northwest and dipping to the northeast.
  • In 1989, a 34 line-kilometer Induced Polarization (IP) survey on the Rayfield Property outlined several chargeability “high” zones, which were subsequently tested by drilling programs in 1989, 1990, and 2008. The historic IP survey was limited to a depth of ~125 m.
  • Exploration drilling on the property from the 1970’s to the early 2000’s totalled just 60 holes (7,774.2 meters), with the majority of the holes being shallow percussion holes typically <60 m in depth. Historic drilling outlined a broad footprint (~450 m x 2,100 m) of low-grade copper mineralization and hydrothermal alteration suggesting a very robust copper-gold porphyry system.
    • 1970 Exploration Program: 31 percussion holes totalling 1,748 m
      • Drillhole highlights include: 0.42% Cu over 6.1m
    • 1989 Exploration Program: 8 diamond drillholes totalling 1,141 m
      • Drillhole highlights include: 18% Cu and 71 ppb Au over 33.9 m; 0.14% Cu and 30 ppb Au over 66.7 m
    • 1990 Exploration Program: 14 diamond drillholes totalling 3,337 m
      • Drillhole highlights include: 0.13% Cu and 35 ppb Au over 164 m
    • 2008 Exploration Program: 7 diamond drillholes totalling 1,548.2 m
      • Drillhole highlights include: 13% Cu and <10 ppb Au over 67 m
  • In 2006, the Geological Survey of Canada conducted a 409 line-km, geophysical survey over the Rayfield Property that included magnetic and radiometric surveys.
  • Several exploration programs from the 1960’s to 2010’s have conducted soil and rock sampling programs predominantly focussed around the historic drilling.

POTENTIAL FOR A SIGNIFICANT COPPER-GOLD DEPOSIT

BURIED PORPHYRY TARGET

  • Many shallow historical drill intercepts on the Rayfield Property have similar grades to historic holes reported on neighboring alkalic copper-gold porphyries within the Quesnel Terrane. These low-grade drill intercepts from the Rayfield Property may have missed the higher-grade core of the porphyry system.
  • Elevated magnetic and potassic anomalies show similar characteristics to other alkalic copper-gold porphyries in the Quesnel Terrane and are largely underexplored.
  • As the historic IP survey was limited to a shallow depth of ~125 m, there is potential for the porphyry system to extend to depth. Golden Sky believes that, with modern exploration methods, there is significant potential to discover additional mineralized zones at depth.
  • An approximate ratio of 1:1 of g/t gold to % copper is often utilized to indicate proximity to porphyry centers. Historically, drilling at Rayfield intersected mineralization that was typically 1:5 g/t gold to % copper. This may indicate that the higher-grade core of the porphyry system has yet to be discovered.