Silver project in the prolific Keno Hill District in the Yukon
The Haldane property is an under-explored high-grade silver property in a historic silver mining region. The 8,164 ha property hosts structurally-controlled silver veins and is located in the Keno Hill silver district in the central Yukon. The Keno Hill silver deposits produced over 200 million ounces of silver in a long history of mining from 1913 to 1989 and 2011-2013. Recently, Alexco Resources recently announced commencement of production at its Keno Hill Mines. The Haldane property is well situated approximately 25 km west of the main Keno Hill deposits. Mineralization is controlled by northerly trending structures and consists of galena, sphalerite and tetrahedrite-tennantite in quartz-siderite gangue.
The best mineralization found to date at Haldane occurs where mineralized structures cut the Basal Member of the Keno Hill Quartzite Formation, identical to the setting for mineralization at the main Keno Hill deposits.
THE HALDANE PROPERTY
The Haldane property is named after Mt. Haldane, the prominent geographic feature on which the property is located. Mt. Haldane is situated halfway way between Mayo and Keno City, YT. Earliest documented work dates to 1918, focused on the Mt. Haldane Vein System (“MHVS”). The MHVS is a series of northerly trending veins in the Big Horn Creek drainage of Mt Haldane. The earliest work here investigated the Middlecoff Zone, with two adits on the south side of Bighorn Creek. The mineralized veins were traced over 600 m on surface and the underground development produced 24.7 tonnes of hand-sorted ore that graded at 3,102 g/t Ag and 59% Pb. At the same time, work was taking place on the Johnson Vein on the north side of Bighorn Creek, including a short adit. Eventually, in 1926 and 1927 these workings produced a total of 2.1 tonnes at 4,602 g/t Ag and 57.9% Pb, also of hand-sorted ore. This mineralization is hosted in north-trending veins within the Basal Member of the Keno Hill Quartzite Formation, at quartzite with interbedded with thin phyllite horizons. Glaciation during the last glacial period was confined to the valleys, meaning that much of the Mt Haldane area has not been glaciated at higher elevations and because of this, ground is heavily weathered and broken, with oxidation extending as deep as 150 metres.
Alianza is testing a combination of original targets such as Middlecoff, and newly identified targets such as West Fault (also in the MHVS – discovered in 2011: 2.2 m of 320 g/t Ag, 1.1 g/t Au) and the Bighorn Zone, a new discovery in 2019 located 3 km northwest of the MHVS (125.7 g/t Ag, 4.39% Pb over 2.35 m). Numerous early-stage targets exist on the property with over 12 km of vein strike potential identified to date. The presentation below details the Haldane Property and the targets Alianza is investigating.
THE KENO HILL DISTRICT
The Keno Hill District is located in a mining friendly jurisdiction and ranks as one of the highest grade silver districts in the world. The Yukon government Minfile (2003) production statistics for the period of 1913-1989 indicate that 4.87 million tonnes were mined at an average grade of 1,389 grams/tonne (g/t) silver, 5.62% lead and 3.14% zinc. Over 65 deposits and prospects have been identified in the district. Most occur within the Basal Member of the Keno Hill Quartizite Formation as structurally-controlled veins.
Alexco Resources is the biggest player in the district, received the final permits for the Bellekeno, Flame and Moth and Lucky Queen deposits in 2020 and recently announced the commencement of production again in the Keno District. Based on a March 2019 Pre-Feasibility Study Alexco estimated Mineral Reserves at 1.18 M tonnes grading 805 g/t Ag, 2.98% Pb, 4.13% Zn and 0.34 g/t gold for an overall silver equivalent (“AgEq”) grade of 1,136 g/t AgEq as of March 28, 2019 (source: www.alexcoresource.com). It is important to note that Flame and Moth was a recent blind discovery adjacent to existing infrastructure.