SUMMARY

  • Acquired by Golden Sky Minerals in 2021 through staking and property purchases
  • Large ~35,000-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 and copper oxides 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.

Situated within the project boundary are 5 large-scale copper (Cu) – gold (Au) porphyry target zones that require immediate follow-up by modern exploration methods and 6 mineral occurrences with excellent potential for additional discoveries

  • 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

  • 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.

RAYFIELD TARGET ZONE

  • Outlined by a 3 km x 1.5 km anomalous copper-in-soil anomaly with values up to 4000 ppm Cu (0.4% Cu)
  • Historic drilling from the 1970’s to 2000’s totalling only 60 holes (7,774.2 m). Mineralization from surface, historic drillholes rarely tested below 100m vertical depth
    • 1970 Exploration Program: 31 percussion holes totalling 1,748 m
      • Drillhole highlights include: 42% Cu over 6.1 m
    • 1989 Exploration Program: 8 diamond drillholes totalling 1,141 m
      • Drillhole highlights include: 18% Cu and 71 ppb Au over 33.9m; 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: 0.13% Cu and <10 ppb Au over 67 m

Mineralization in several historic drillholes extends from surface to end of hole, indicating that the mineralized porphyry system remains open to depth. Drillhole highlights include: 0.13% Cu and 35 ppb Au over 164 m; 0.18% Cu and 71 ppb Au over 33.9 m; 0.14% Cu and 30 ppb Au over 66.7 m

Due to the shallow response of the IP survey (limited to ~125m depth), several chargeability anomalies are interpreted to remain open to depth

Pending permit application for 3000 m of diamond drilling

GNOME AND SEMLIN TARGET ZONES

  • Historically explored as a molybdenum prospect, the Gnome Zone is outlined by a multi-element geochemical anomaly that extends ~1.8 km x 1.5 km. The Semlin Zone is a new discovery and is outlined by a multi-element geochemical anomaly that extends 1.4 km x 0.9 km.
  • Phyllic and propylitic alteration has been observed on surface with chalcedonic quartz-carbonate-calcite veins hosting disseminated pyrite and chalcopyrite. These veins have returned high Cu and Au values up to 0.35% Cu, 8.9 g/t Ag and 4.8 g/t Au.
  • Very little historical drilling has been conducted at the Gnome Zone (3 drillholes). Hole 72455 assayed 0.19% Cu over the last 68 m. No drilling has ever been conducted at Semlin.
  • The copper grade and alteration observed in drill hole 72455 would suggest that the outer margins of a buried porphyry system may have been intercepted. The target zone is also marked by several magnetic, gravity, and radiometric geophysical anomalies that are similar in characteristics to other alkalic copper-gold porphyry systems in the Quesnel terrane

MOWICH & CRISS CREEK TARGET ZONES

  • Copper-rich float material (sub-mm to >5cm in size) was recovered from the base of a slump in the Mowich Zone. Of the mineralized fragments, Sample D00226854 returned grades of 286 g/t gold (Au), 200 g/t silver (Ag) and 37.46% copper (Cu). Golden Sky geologists interpret these high-grade values to be associated with proximal intrusions, as there is a close correlation with bismuth (Bi).
  • Mapping has identified granodiorite, diorite, and syenite intrusive plugs in the area that is often surrounded by brecciated, and intensely quartz veined basalt. The main minerals are azurite, malachite and chrysocolla, with a high incidence of cinnabar and hyalite, a type of opaline silica.
  • Significant magnetic anomalies border several interpreted major northwest-trending faults that may have concentrated auriferous hydrothermal activity in the area. Importantly, a past-producing placer gold creek (Criss Creek) crosscuts the southeast edge of a mapped unit of mineralized diorite/monzodiorite. A proximal source is likely, as the gold is coarse grained and has therefore not travelled far downstream.
  • The presence of Cu-Au porphyry-style mineralization and low-sulphidation Au–style mineralization along fault systems makes this area highly prospective

RAYFIELD ZONE: BURIED PORPHYRY TARGET

  • Many shallow historical drill intercepts have similar grades to historical 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.
  • In cross-section the mineralized porphyry system appears to be moderately dipping to the east with increasing copper grades (see DH 374-006). Much of the system remains untested by drilling and remains open along-strike and to depth.
  • 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 ~125m, 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.