The Phoenix Zone was discovered in 2011 by the Company. Preliminary metallurgical test work has shown that core samples from this area are amenable to the same gold recovery process as has been developed for the Main Zone.
For the reconnaissance program conducted during 2018, the objective was to test the potential continuity and extent of the mineralization trend between the Phoenix Zone and the additional gold-bearing area to the north acquired by the Company in 2012. Three shallow (less than 160m from surface) holes with wide spacing (up to 800m) were drilled along a 500m wide corridor. All three drill holes encountered mineralization above the cut-off grade established under the Project’s 2017 PEA indicating a northwest trend to the mineralization along a 3,500m long corridor, more than three times the strike length of the Main Zone. This broad trend of gold mineralization is not primarily associated with argillite as at the Main Zone. The trend remains open and untested to the northwest and southeast.
The geological framework for the Phoenix deposit was updated for the PEA. The lithological model was developed based on logging of drill core and a detailed geochemical classification that resulted in six principal stratigraphic units being identified: Upper Mafic Tuff, Upper Sedimentary Sequence, Lower Mafic Tuff, Intermediate Sedimentary Sequence, Intermediate Tuff, and Lower Sedimentary Sequence. These units generally dip gently to the northeast. A steeply dipping north-south trending fault divides the Phoenix deposit into eastern and western blocks. The eastern block contains the full stratigraphic sequence, while the western block includes only the two lowermost stratigraphic units found in the eastern block.
Gold mineralization has been developed using structural data measured from oriented drill core. This new interpretation includes identifying two principal sets of mineralized structures: flat to gently east-dipping and steeper northeast-dipping orientations. These define three mineralized lenses—two upper, gently dipping zones and a deeper, steeper-dipping zone.
Note that the Phoenix deposit is not included in the 2025 Preliminary Economic Assessment.
Phoenix Zone Map
Caution: Note that no Resource has been established for the Phoenix Zone and there is no assurance that further exploration work in this area will result in a Resource being defined.
