BC Geological Survey Assessment Report 38440
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Ministry of Energy and Mines Assessment Report BC Geological Survey Title Page and Summary TYPE OF REPORT [type of survey(s)]: Geophysical, geochemical TOTAL COST: $49,326.14 AUTHOR(S): Anastasia Ledwon SIGNATURE(S): NOTICE OF WORK PERMIT NUMBER(S)/DATE(S): YEAR OF WORK: 2018 STATEMENT OF WORK - CASH PAYMENTS EVENT NUMBER(S)/DATE(S): 5742328 and 5754630 PROPERTY NAME: Bingo CLAIM NAME(S) (on which the work was done): BINGO COMMODITIES SOUGHT: Ag, Au, Cu, Pb, Zn MINERAL INVENTORY MINFILE NUMBER(S), IF KNOWN: MINING DIVISION: Skeena NTS/BCGS: 103P/12 o '" o '" LATITUDE: 55.523 LONGITUDE: -129.906 (at centre of work) OWNER(S): 1) J2 Syndicate Holdings Ltd. 2) MAILING ADDRESS: 303-10090 152 Street Surrey, BC V3R 8X8 OPERATOR(S) [who paid for the work]: 1) Goliath Resources Ltd. 2) MAILING ADDRESS: 25 Adelaide Street East, Suite 1614 Toronto, ON M5C 3A1 PROPERTY GEOLOGY KEYWORDS (lithology, age, stratigraphy, structure, alteration, mineralization, size and attitude): Stikine Terrane, Coast Plutonic Complex, Bowser Basin, Stewart Complex, Stuhini Group, Hazelton Group, Eocene, Jurassic Triassic, epithermal, volcanic-hosted massive sulphides REFERENCES TO PREVIOUS ASSESSMENT WORK AND ASSESSMENT REPORT NUMBERS: 29181, 36905, 37117 Next Page TYPE OF WORK IN EXTENT OF WORK ON WHICH CLAIMS PROJECT COSTS THIS REPORT (IN METRIC UNITS) APPORTIONED (incl. support) GEOLOGICAL (scale, area) Ground, mapping Photo interpretation GEOPHYSICAL (line-kilometres) Ground Magnetic Electromagnetic Induced Polarization Radiometric Seismic Other LiDAR $20,530.00 Airborne 80.1 line kms $11,456.56 GEOCHEMICAL (number of samples analysed for...) Soil Silt Rock 11 $616.00 Other DRILLING (total metres; number of holes, size) Core Non-core RELATED TECHNICAL Sampling/assaying Petrographic Mineralographic Metallurgic PROSPECTING (scale, area) $16723.58 PREPARATORY / PHYSICAL Line/grid (kilometres) Topographic/Photogrammetric (scale, area) Legal surveys (scale, area) Road, local access (kilometres)/trail Trench (metres) Underground dev. (metres) Other TOTAL COST: $49,326.14 GEOLOGICAL, GEOCHEMICAL, AND GEOPHYSICAL ASSESSMENT REPORT FOR THE BINGO PROPERTY Skeena Mining Division, British Columbia 55.523 N/129.906 W Event #s: 5742328 and Prepared for: J2 Syndicate Holdings Ltd. (owner) Surrey, BC and Goliath Resources Ltd. (operator) Toronto, ON Prepared by: Anastasia Ledwon, B. Sc (Hons), P.Geo. Smithers, BC August 6, 2019 Goliath Resources Ltd. Bingo 2018 Assessment Report Table of Contents 1. Summary ........................................................................................................................................ 4 2. Introduction and Terms of Reference............................................................................................ 4 2.1 Access and Location ............................................................................................................... 5 2.2 Property Status and Ownership ............................................................................................. 7 2.3 Climate and Physiography ..................................................................................................... 9 2.4 Exploration History .............................................................................................................. 10 3. Geological Setting ........................................................................................................................ 12 3.1 Regional Setting ................................................................................................................... 12 3.2 Local/Property Geology, Mineralization, and Alteration .................................................... 13 3.2.1 Surficial Geology .............................................................................................................. 13 3.2.2 Geological Model ............................................................................................................. 13 3.2.2.1 Epithermal Deposits ......................................................................................................... 14 3.2.2.2 Volcanic-Hosted Massive Sulfide (VHMS) Deposits ......................................................... 14 3.2.2.3 Intrusion-Related Deposits .............................................................................................. 15 4. Exploration ................................................................................................................................... 18 4.1 Geophysical Surveying ......................................................................................................... 18 4.2 Rock Geochemistry .............................................................................................................. 22 4.2.1 Sampling Method and Approach ................................................................................. 22 4.2.2 Sample Preparation, Analyses and Security ................................................................ 22 4.2.3 Data Verification .......................................................................................................... 22 4.2.4 Results .......................................................................................................................... 23 5. Conclusions and Recommendations ............................................................................................ 23 6. Statement of Costs ....................................................................................................................... 25 7. References ................................................................................................................................... 27 8. Statement of Qualifications ......................................................................................................... 29 9. Appendices ................................................................................................................................... 30 A. Field Notes ............................................................................................................................... 30 B. Geochemical Assay Maps......................................................................................................... 32 C. Assay Certificates ..................................................................................................................... 34 D. Third-Party Reports ..................................................................................................................40 2 Goliath Resources Ltd. Bingo 2018 Assessment Report Figures Figure 1. Location map of property. ...................................................................................................... 6 Figure 2. Mineral tenure map. ............................................................................................................... 8 Figure 3. Regional geology map. .......................................................................................................... 16 Figure 4. Property geology map. .......................................................................................................... 17 Figure 5. First vertical derivative map. ................................................................................................ 19 Figure 6. Total magnetic intensity map. .............................................................................................. 20 Figure 7. LiDAR map. ............................................................................................................................ 21 Tables Table 1. Tenure details. .......................................................................................................................... 7 Table 2. Production totals for historical past producers near the Bingo property (Benz, 2018). ....... 11 Table 3. Summary of historical work (modified from Benz, 2018). ..................................................... 11 Table 4. Assay results for gold, silver, copper, lead, and zinc. ............................................................ 23 3 Goliath Resources Ltd. Bingo 2018 Assessment Report 1. Summary The Bingo property is located within the Coast Mountain Boundary Ranges of the Skeena Mining Division approximately 50 kilometres south of Stewart, BC and 130 kilometres northeast of Prince Rupert, BC. It is comprised of three mineral tenures 100% owned by J2 Syndicate Holdings Ltd. and totals 988.92 hectares of land within the Hastings Arm NTS map sheet 104P/12. The Property is within an area of rugged topography between the Anyox and Donahue Creeks along the west side of Hastings Arm. This area experiences typical northwestern BC long, mild and wet winters. Mineral exploration may be conducted on a year-round basis, although at higher elevations, the season may be dependent upon snow pack levels and/or stability as well as fog (Benz, 2018). Historical mineral exploration within the Hastings Arm area was for copper, gold, silver, lead and zinc. More recent activities are focused on Noranda/Kuroko massive sulfide copper-lead-zinc deposits, with associated silver-lead-zinc±gold mineralization such as the Dolly Varden Mine, as well as precious metal, porphyry-style mineralization. Historical work within the current Bingo Property boundary includes reconnaissance-style geochemical surveys. Based on the work conducted to date there are two possible styles of mineralization indicated on the Bingo Property: volcanic-hosted massive sulfide and epithermal (Benz,