Finlay’s 100% owned PIL Property covers 13,374 hectares of highly prospective ground in the prolific Toodoggone mining district of north-central British Columbia, Canada.
On April 17, 2025, Freeport-McMoRan signed a 6 year Earn-In Agreement to acquire an 80% interest in the PIL Property. The agreement will infuse a total of $25M exploration expenditures into PIL and $3.0M cash into Finlay Minerals. Agreement details can be found here: April 17th News Release
The PIL Property is a cornerstone project of Finlay’s portfolio, with the core PIL claims staked over 30 years ago by the founders of the company. Over the decades, numerous Cu-Au-Mo porphyry and porphyry-related Au-Ag epithermal targets have been identified on the PIL property. The identified targets are central to a broader 70km porphyry corridor trend, which includes: Centerra Gold’s past producing Kemess South Cu-Au porphyry mine and Kemess Underground Cu-Au-Ag porphyry resource, Thesis Gold’s Lawyers-Ranch Au-Ag epithermal resource, and the newly discovered Amarc Resources and Freeport-McMoRan AuRORA Cu-Au-Ag porphyry. The collar for drill hole JP24075 at the AuRORA discovery is only 730 meters (“m”) south of the PIL Property boundary, which included a 266 m interval of 1.24 g/t Au, 0.31% Cu and 3.42 g/t Ag from 34.0 m (see Amarc Resources News Release dated January 20th, 2025).
The PIL Property is road accessible and permitted for the 2025 season. Planning is underway for a significant 2025 exploration program. Ideally work will include an IP geophysical survey, geological mapping, SWIR sample collection and surface sample collection with the aim of delineating drill targets.
*Sources:
HDI Amarc AuRORA Discovery Drill Results:
https://amarcresources.com/news-releases/amarc-announces-additional-drill-results-from-the-aurora-copper-gold-silver-deposit-discovery-in-collaboration-with-freeport-at/
Kemess South Past Production:
https://www.centerragold.com/operations/kemess-project/kemess-east/
Kemess East Measured & Indicated Resource Estimate:
https://www.centerragold.com/operations/kemess-project/reserves-and-resources/
Kemess Underground Proven & Probable Reserves:
https://www.centerragold.com/operations/kemess-project/reserves-and-resources/
Lawyers-Ranch Project Measured & Indicated Resource Estimate:
https://thesisgold.com/ranch-lawyers-project-pea/
Shasta Project Indicated Resource Estimate:
https://tdggold.com/news-2/2025-03/20250108-02/
The PIL Property is transected by the regional-scale NNW-trending Pillar Fault, which juxtaposes west-dipping volcaniclastic and epiclastic rocks of the Upper Toodoggone Formation to the east against Lower Toodoggone Formation volcanics, Takla Group volcanics, and Black Lake Suite intrusions to the west (Fig. 1, Property Geology). Several parallel structures occur on either side of the Pillar Fault, including the regional Saunders fault ~4.5 km to the west and smaller structures transecting the NW and Atlas Zones. The Toodoggone Formation belongs to the Early Jurassic Hazelton Group, which overlies Upper Triassic Takla Group rocks in an unconformity that is associated with mineral deposits throughout B.C. Intermediate intrusions of the Black Lake Suite, which are cogenetic with the Hazelton Group, are common hosts for porphyry mineralization in the region.
The oldest rocks on the property, volcanic and sedimentary rocks of the upper Triassic Takla Group, are exposed at the PIL South Zone in a fault-bound block immediately west of the Pillar Fault. The stratigraphic package consists of augite- and plagioclase-porphyritic basalts, andesites and mafic tuffs, some coarse clastic volcanic sediments and minor amounts of fossiliferous (Carnian-Norian) limestones. Many of the mafic flows are pillowed, amygdaloidal and altered, and the package is believed to have formed in an oceanic island-arc environment. Locally, the rocks are intruded by mafic dykes and small diorite-hornblendite bodies that probably formed feeders for the basalts; a sample of hornblende from these dykes yielded a K-Ar date of 210 Ma ± 8 Ma (Diakow et al., 1993).
The Lower Toodoggone Formation is represented at PIL by: 1) Andesitic volcaniclastics of the Duncan Member (which unconformably overlies Takla Group basalt at PIL South), and; 2) Andesite flows and lesser volcaniclastics of the Metsantan Member (the most widespread volcanic member in the southern end of the Toodoggone area (Diakow et al., 2006). A thick (~100 m) layer of maroon volcanic breccia belonging to the Pillar Member and dacitic volcaniclastics of the Graves Member represent the Upper Toodoggone Formation. This dacitic unit is exposed at Pillar East, where it has been intruded by an andesitic plug and rhyolite dome sequence.
Intrusions of the Black Lake Suite are exposed in the northwest-trending uplifted belt west of the Pillar Fault as well as at lower elevations elsewhere on the property. Intrusive rocks in the uplifted belt include intercalated diorite, monzodiorite, and feldspar-phyric monzonite with minor porphyritic syenite plugs. Monzonite porphyry is also exposed at the Copper Cliff Zone, where it hosts porphyry-style Cu-Ag mineralization. A sample of monzonite from the Silver Ridge area yielded a K-Ar date of 196.9 Ma, which is within the correct age range for porphyry potential in the region (Diakow, 2006). Relatively fresh coarse-grained granodiorites exposed at the WG Gold zone are among the youngest in the Black Lake Intrusive Suite and not related to any significant mineralization.
Andesitic to basaltic dykes 5 – 20 m wide occur throughout the property, typically subvertical and NW-striking, and can be tracked for 100’s of metres. A possible offset of dike swarms in the South Ridge and Atlas area located on either side of the major Pillar Fault may suggest sinistral movement.
The stratigraphic position of rocks exposed at PIL has important implications for exploration. Porphyry deposits in the region are typically hosted by monzonitic plugs and stocks of the Black Lake Suite and adjacent wall rock of the Takla Group. Hazelton Group volcanics are stratigraphically above where a porphyry deposit is expected and are more likely to host associated epithermal-style mineralization, which may exhibit vertical zonation that correlates with stratigraphy. Epithermal mineralization at surface may be an indication of porphyry mineralization at depth within the fault-bound blocks that are common due to extensive Cretaceous faulting.
There have been 18 porphyry Cu ± Mo ± Au and porphyry-related low- and high-sulphidation epithermal Au-Ag occurrences outlined on the PIL Property to date. Many of these showings are spatially related to prominent gossans with elevated Cu, Mo, Pb, Zn, Au, and Ag soil geochemistry. Mineralization is believed to be genetically related to Black Lake Suite intrusions. The uplifted belt west of the Pillar Fault hosts several porphyry-style and related occurrences, while epithermal mineralization more commonly cuts higher stratigraphy in the down-dropped block to the east.
Limited surface trenching and shallow diamond drilling has yielded encouraging results; several prospects hold high potential for porphyry discovery below surface.
The 2-km-wide NNW-trending corridor between the Pillar and Saunders faults has been uplifted such that favourable stratigraphy for porphyry deposits occurs near surface. Multiple intrusions of the Black Lake Suite have been identified on surface and in drill core. Mineralization occurs at the NW Zone, Silver Ridge, Copper Ridge, and PIL South. Soil geochemistry surrounding the target zones is consistent with porphyry mineralization, with broad moderate Au, Cu and Mo anomalies; localized higher-grade Au, Cu and Mo may relate to intrusive contacts and/or faults. Elevated Pb and Zn occur near the contacts of Black Lake Suite intrusions.
PIL South (Cu-Au-Ag Porphyry)
The PIL South porphyry target is 3.5 kilometers east of the AuRORA discovery with the Reef high sulphidation target in between and TDG Gold Corporation’s Shasta epithermal Au-Ag deposit 5 kilometers to the west. Drilling in 2024 at PIL South intersected significant Cu-Au porphyry mineralization including PILS-24-006 returning 0.10% copper with 0.05 g/t gold, 7.1 g/t silver, and 0.18% zinc over 162.00 m from 749.00 m, in volcanic rocks peripheral to a potential mineralized intrusive porphyry system.
At PIL South, a large (2.5 km x 2.0 km) Cu-in-soil anomaly overlies propylitically altered Takla Group basalt flows intruded by a small stock and dyke complex of sericite-pyrite altered feldspar-phyric monzonite of the Black Lake Suite. Several rock samples have been collected (n=409), yielding 65 rocks with > 1,000 ppm Cu, including 43 rocks with >3000 ppm Cu and 16 rocks with > 1% Cu. Rocks with higher-grade Cu are typically described as chloritized andesite with quartz-chalcopyrite stringers. Elevated Au (9 samples > 100 ppb – 542 ppb) occurs in coarse white quartz veins or pyritized andesite, often with coincident Ag (8 samples > 20 g/t Ag – 53.4 g/t Ag). Pb (6 samples > 0.1%) appears to be structurally controlled, and is associated with jarosite-goethite altered gossanous exposures. The presence of disseminated sulphides, quartz-chalcopyrite stringers, and a large multi-element (Cu-Zn ± Au ± Pb) soil geochemical anomaly in Takla Group host rocks indicate high potential for a porphyry-style mineralizing system.
Copper Ridge (Cu-Au-Mo Porphyry)
Copper Ridge is a NE-trending gossanous ridge with a moderate magnetic high, strong argillic alteration, and a large (~1300 x 1900 m) multi-element (Cu-Mo-Au-Pb-Ag-Zn) soil anomaly. The area is underlain by a complex of monzonite, monzodiorite, diorite, and syenite intruded by post-mineral andesite dykes. Porphyry Cu-Au mineralization appears to be an alkali dominant system associated with monzonite-syenite and monzodiorite. Ten (10) rock samples of intermediate intrusive with quartz veinlets hosting malachite ± chalcocite from the area have yielded 400 – 1000 ppm Cu, with Ag up to 20.5 g/t, and Au up to 366 ppb. The Company considers Copper Ridge to be a drill-ready target with high prospectivity.
NW Zone (Cu-Au-Mo Porphyry)
Mineralization at the NW Zone is associated with a large body of silicified, variably quartz veined and brecciated quartz diorite and monzonite thought to be the oldest plutonic rocks in the vicinity. The large (~400 x 400 m) gossanous surface expression and low- and high-sulphidation alteration in adjacent Toodoggone Volcanics suggest potential for a blind porphyry deposit. Minor As associated with elevated Au suggests potential for high-sulphidation epithermal mineralization.
Several drill holes (2004 – 2006) intersected intervals of porphyry-style mineralization consisting of disseminated pyrite, chalcopyrite and minor molybdenite with localized stockworks of quartz-pyrite ± chalcopyrite ± galena ± sphalerite veining. Mineralized intercepts also include fault-controlled quartz-pyrite ± magnetite mineralization sporadically enriched in Au, Ag, Pb and Zn. Base-metal enrichment occurs as zones of disseminated and vein-related galena and sphalerite within broader porphyry-style intercepts in highly altered monzonitic rocks.
Silver Ridge (Porphyry)
The Silver Ridge Zone is a series of NNW-trending shears and silicified zones, many of which are mineralized. A large (~500 x 5000 m) Ag-Au-Pb-Zn soil geochemical anomaly and coincident EM structure outline the zone. Diamond drilling (2004 – 2006) yielded results of up to 1235 g/t Ag over 2.4 m and 1.05 g/t Au over 7.60 m. At Silver Ridge North, ~1.95 km along-strike, drilling intersected shear-hosted 1.47 g/t Au and 57.5 g/t Ag over 2.0 m. At depth, drilling reached strongly altered and pyritic rocks above silicified and brecciated monzonite, in what appears to be a W-Zn mineralized porphyry, consistent with the deep or lateral extents of a larger porphyry system.
Central Zone (Cu-Au-Mo Porphyry)
The Central Zone is defined as a target largely based on the results of the 2003 IP survey, which revealed coincident chargeability high and resistivity low anomalies along-strike from the Northwest to the Central Zone; broad moderately Au-Cu-Mo soil geochemical anomalies overlie geophysical features.
Zeus (Epithermal-Porphyry)
Prospecting identified the Zeus target: a new high-grade Cu-Ag mineralized zone across a 400 x 300m area and a 100 m vertical extent; highlight vein samples from Zeus include 12.25% Cu with 0.26 g/t Au and 329 g/t Ag and 7.13% Cu with 0.29 g/t Au and 247 g/t Ag.
The rocks exposed in the southeast corner of the property lie stratigraphically above those west of the Pillar Fault, in a volcanic-pluton environment ranging from lower andesite to upper felsic volcaniclastics locally intruded by syn-volcanic plugs and a dome, all intruded by later intrusions of monzonite or diorite. Epithermal Au-Ag mineralization at Atlas (east/west) and Pillar East is hosted in the Metsantan Member of the Lower Toodoggone Formation. At the south end of Pillar East, the Copper Cliff Zone exhibits porphyry-style Cu-Ag mineralization in feldspar ± biotite-phyric monzonite and adjacent andesite. The proximity of these mineralized zones and position on the flanks of a very large airborne Th/K anomaly (2004 Geoscience BC Survey) implies potential for a large, deep-seated porphyry system.
Atlas (Au-Ag Epithermal)
The Atlas epithermal Au-Ag Zone is visible on surface as two rusty, clay-silica gossans > 500 m wide, termed Atlas West and Atlas East. Mineralization occurs in silicified volcanics with multi-phase quartz stockwork and hydrothermal breccia. Sampling has yielded 36 rock samples grading >1 g/t Au including 8 samples >10 g/t Au. High-grade mineralization at Atlas East is exemplified by a silicified breccia sample with visible electrum and argentite that assayed 489.7 g/t Au and 6,514 g/t Ag. Drilling has yielded visible argentite and electrum in four holes and up to 2.48 g/t Au an 42.7 g/t Ag over 14 m.
Pillar East (Au-Ag Epithermal)
The Pillar East epithermal Au-Ag trend was discovered in 2015 and has since been traced for > 900 m along-strike to the north-northeast by prospecting, soil and rock sampling. Thirteen (13) samples along the trend contain > 1 g/t Au; thirteen (13) samples contain > 20 g/t Ag; a sample of quartz breccia sub-crop collected in 2017 yielded 19.95 g/t Au and 423 g/t Ag. Mineralization is hosted predominantly in WNW-trending quartz-amethyst vein and quartz-carbonate breccia zones. Trenching in 2019 yielded up to 4.40 m of 2.79 g/t Au, 12.7 g/t Ag, and 2.4 % combined Pb-Zn. Mineralization appears to be associated with feldspar-phyric dykes and micro-diorite of the Black Lake Intrusive Suite. Locally elevated Mo suggests a porphyry affinity for observed low-sulphidation epithermal-style Au-Ag.
Copper Cliff (Cu-Ag Porphyry)
The Copper Cliff Zone, at the south end of Pillar East, exhibits porphyry-style Cu-Ag mineralization in outcrop over 40 x 30 m, consisting of disseminated chalcopyrite and veinlets of chalcopyrite-bornite-pyrite associated with quartz and K-feldspar in feldspar ± biotite-phyric monzonite and adjacent andesite. Rock samples (n=11, 2016) yielded 0.05 – 1.04 % Cu and 2.8 – 23.9 g/t Ag. Follow-up IP surveys in 2017 identified a chargeability anomaly coincident with an annular magnetic anomaly, which Finlay considers to be a compelling drill target.
WG Gold (Epithermal)
At the WG Gold target, a transported Au- and Zn-in-soil anomaly (~300 x 500 m) occurs on deep north-slope talus that is sourced from ridge top outcrops. The mineralized outcrop and talus are altered to strong sericite-quartz-Fe oxide after oxidized pyrite. This may represent a bulk-disseminated Au target associated with peripheral strong sericite-quartz-Fe-oxide or shallower to typical porphyry Cu-Au mineralization.
Spruce North & South (Epithermal)
The Spruce claims encompass the Bishop and Knight epithermal vein showings of the Chess Group, explored by Stealth Minerals from 2004 – 2006. The Bishop occurrence includes four zones associated with NW-trending feldspar porphyry dykes that form a large silicified stockwork with abundant pyrite, localized native silver, arsenopyrite, and chalcopyrite. Grab samples yield up to 4.4 g/t Ag and 0.219 g/t Au. The Knight occurrence comprises north-striking steep quartz ± carbonate ± chalcopyrite-pyrite-galena-sphalerite-barite veins up to 2 m wide within a gossanous area with up to 40 m surface trace. Samples of cm- to dm-scale quartz and quartz-carbonate veins returned elevated Au, Ag, Cu, Pb, and Zn. A quartz vein float sample in 2004 yielded 451 g/t Ag and 9.52 g/t Au.
Recent prospecting at the Spruce target identified significant copper, silver and molybdenum samples along a 2.6 km trend including rock sample highlights of 9.01% copper with 212 g/t silver and 0.26 g/t gold in float, and 3.75% copper with 101 ppm molybdenum in outcrop.
Gold Zone (Epithermal)
At the Gold Zone, elevated Au, Cu and Mo in soil geochemistry overlie a series of 1 – 5 m wide quartz-sericite-pyrite alteration and low-sulphidation Au-Ag quartz veins in Lower Toodoggone Formation wall rock. Associated with undifferentiated monzonite or quartz monzonite dykes. The NNW-trending structures that host the Au-Ag veins are thought to be parallel to the westward dipping slopes along Saunders Creek, having the effect of exaggerating the surface expression of the alteration and mineralization.
Ben (Au-Ag Epithermal)
Prospecting at the undrilled Ben showing identified a new 300 m long zone of Cu-Ag mineralization, with a highlight sample returning 10.90% Cu with 39.50 g/t Au and 2,680 g/t Ag from outcrop.
Rock Samples Summary
Soil Samples Summary
Silt Samples Summary
Airborne radiometric and magnetic surveys can provide useful exploration tools for porphyry deposits, which generally exhibit characteristic alteration aureoles. Typically, a potassic core (K-feldspar-biotite-magnetite-quartz-pyrite) is surrounded by a phyllic (quartz-sericite-pyrite) shell within regional propylitic (chlorite-epidote-quartz±magnetite±pyrite) alteration. Potassium enrichment in the core of a deposit may result in a visible anomaly in radiometric imagery (K, Th/K). Similarly, hydrothermal magnetite in the potassic zone may result in a magnetic high, generally surrounded by relatively low magnetic field intensities in the shell which exhibits magnetite-destructive phyllic alteration.
The Geoscience BC 2004 Toodoggone airborne survey revealed that the Atlas and Pillar East Zones are situated on the flank of a 1 – 2 km wide Th/K anomaly. A magnetic high, enclosed within an annular magnetic low, lies directly north of the Atlas & Pillar East epithermal Au-Ag Zones. The Pillar East mineralized zones occur proximal to a magnetic low centered within a prominent, nearly circular two-km diameter magnetic high. Copper Cliff hypabyssal monzonite and granitic clasts in copper mineralized breccia dikes are potentially related to the effects of a large, deep-seated alkalic porphyry system. Future exploration will include deep IP surveys and deeper drilling to test for porphyry copper and epithermal Au-Ag potential.
Ground-based induced polarization (IP) surveys are a common and effective method of identifying sulphide mineralization, intrusive bodies, and major structures at depth. Finlay has conducted ground-based IP over the Central portion of the property (2003) and revealed a prominent NW-trending chargeability high at depth below the central belt as well as several anomalies to the east.
In 2003, a ground-based IP program over the Northwest, Central, and Silver Ridge zones, revealed several high chargeability and relatively low resistivity features, with geometry consistent with multiple intrusive pulses. The Central Zone is scree and talus covered, and largely defined as a target based on IP surveys (Brown, 2004).
In 2017, Finlay commissioned 8.3 line-km of ground-based IP surveying along 5 east-west traverses localized at the Pillar East area. A moderate chargeability anomaly appeared on the east side of the survey lines. Deeper and broader-scale IP has the potential to add value in the area, especially over the Copper Cliff showing.
In 2017, Finlay commissioned airborne magnetic surveying over the Atlas – Pillar East area. The Pillar East mineralized zones occur proximal to a magnetic low centered within a prominent, nearly circular two-kilometer diameter magnetic high. A property-wide airborne magnetic survey may hold potential for further discovery.
In 2023 Cascadia Minerals completed 4.8 line km of TITAN deep IP at the PIL South and Spruce targets. The results from this survey outlined the potential for a buried porphyry underneath past drilling at the PIL South. The chargeability exhibited a broad zone of high chargeability surrounding a moderate chargeability suggestive of a pyritic halo or phyllic zone around the core of a porphyry system. The moderate chargeability core coincides with a moderate resistivity response which could represent a potassic core.
Historic work on the PIL Property includes two drill holes in the northwest part of the property by Cordilleran Engineering in 1967. In 1981, Serem Ltd. blasted two trenches over chalcedony-quartz veining at Atlas West, yielding 2.67 oz/t Ag over 7 m and 0.24 oz/t Au over 5 m. More advanced-stage exploration was not conducted again until 2003, after Finlay had completed several geochemical and geophysical exploration programs to develop targets.
In 2003, Finlay Minerals drilled 707 m in four holes in the PIL South area. Drillholes PILS-03-01 and -03-04 intersected crystal tuff with intense actinolite, quartz, magnetite, epidote, and K-feldspar alteration, minor sphalerite, chalcopyrite, and malachite mineralization, and anomalous Cu, Zn, and sporadic Ag and Au. PILS-03-01 (400 m), hosted quartz-pyrite-hematite-magnetite-K-feldspar ± chalcopyrite veining in Takla Group metasediments. All holes were shut down prematurely due to bad drilling conditions.
In 2004, Finlay conducted a reconnaissance diamond drilling program of 6,168 m in 26 holes at the Northwest, Silver Ridge, Central, Northeast, Gold, and WG Gold targets.
At Gold, drillholes PN-04-17 (253.9 m) and PN-04-18 (230.45 m), intersected monzonite, diorite, and syenite with minor pyrite disseminated and in quartz veins, trace sphalerite and molybdenum, but no significant intercepts. Encouraging results at Silver Ridge and the NW Zone led to continued drilling in 2005, as well as in the newly discovered Atlas East Zone.
In the NW Zone, several drill holes (2004 – 2006) intersected wide intervals of weak Cu-Mo ± Au porphyry-style mineralization comprising disseminated pyrite, chalcopyrite and minor molybdenite in strongly altered monzonitic rocks. Within these intervals, structurally controlled quartz-vein stockworks host pyrite ± chalcopyrite ± galena ± sphalerite and fault-controlled quartz-pyrite ± magnetite veining hosts sporadic Au ± Ag enrichment and anomalous Pb-Zn. Sparse galena and sphalerite occur both disseminated and vein-related, commonly with barite-calcite gangue. Gypsum/anhydrite veinlets are locally common.
Drill hole PN04-09 intersected weak Cu mineralization over its entire 396m length, including 24.4m grading 0.21% Cu, 0.02 g/t Au, 0.71 g/t Ag, and 0.003% Mo from 23.15m and 40.0m grading 0.13% Cu, 0.04g/t Au, 1.2g/t Ag, 0.006% Mo.
Follow-up drilling in 2005 succeeded in intersecting porphyry-style Cu-Mo mineralization in two holes >300 m from PN04-09. Hole PN05-02 intersected 59.9 m of 0.11% Cu and 0.003% Mo from 142.65m; PN05-09 intersected 155 m of 0.06% Cu and 0.002 % Mo from 48.5m, including 0.15% Cu, 0.013% Mo along with 88 ppm W, and 0.46% Zn in the bottom 1.70 m of the hole.
In 2006 two holes (PN06-01, 02) were drilled the first of which tested the area west and beneath Hole PN05-02. The second hole targeted the western and possibly down-dropped portion of the NW Zone along a prominent north-south fault zone. Hole PN06-01 intersected 34 metres of very altered and pyritic intrusive rocks containing anomalous Cu. PN06-02 ended in a prominent tectonic breccia likely representing a major fault. Deepening of these holes is planned.
Also during 2005, in an area referred to as the Silver Ridge North Zone, drill hole PN05-03 tested a strong Au-Ag soil anomaly. The hole intersected a shear zone with 2.0 m grading 2.93 g/t Au and 57.5 g/t Ag. At increasing depth, the hole intersected zones up to 68 m wide consisting of strongly altered and pyritic intrusive rocks grading at depth into silicified and brecciated monzonite. A 60.3 m section near the bottom of the hole contains sporadic anomalous Cu, 24 ppm W, and 0.13% Zn. It was apparent that PN05-03 intersected Silver Ridge-type mineralized structures but unexpectedly bottomed in what appears to be a mineralized porphyry system. Drill hole PN05-08, a 100-m southerly step out from PN05-03, bottomed in similar, but less extensive, W-Zn mineralization. The halo of very altered rocks encountered in both holes and the underlying W-Zn mineralized intrusive rocks may be evidence of a deeper or lateral expression of a porphyry system. Drilling is proposed to determine whether Silver Ridge North and the NW Zones are part of a much larger porphyry system.
At Silver Ridge, drill hole PN04-06 ended in 2.4 m of 1,230 g/t Ag with anomalous Cu, W, and Zn. Similar mineralization, albeit lower grade, was intersected in two holes 0.8 and 1.95 km along-strike to the north-northwest. A parallel hole ~50 m to the SSE in 2005, PN05-10 yielded 2.30 m of 6.8 g/t Ag associated with a shear zone and 7.60 m of 1.05 g/t Au.
In 2005, fill-in soil sampling was conducted on the existing grid from Silver Ridge to the NW Zone. Magnetic and electromagnetic (VLF-EM) surveys were conducted over the Silver Ridge, Silver Ridge North and NW Zones. Stream sampling follow-up of historic anomalies was completed. Detailed soil and rock sampling completed on the Atlas East Zone identified numerous float and bedrock occurrences of epithermal gold and silver mineralization. Twelve diamond drill holes totaling 3,090 m were completed on the NW, Silver Ridge, and Atlas East Zones.
From 2005 – 2007, a total of 3,881 m were drilled in 19 holes at the Atlas East Zone. Drilling intersected silicified volcanics and localized quartz stockwork veining with visible electrum and/or argentite in four drill holes. Six holes intersected reported intervals. Significant drill intercepts include 2.00 m assaying 4.65 g/t Au and 59.4 g/t Ag within a broader interval 26.10 m assaying 1.04g/Au and 15.3g/t Ag (Hole A06-05), 1.05 m assaying 8.58 g/t Au and 361.2 g/t Ag within a broader interval of 25.30 m assaying 0.96 g/t Au and 30.4 g/t Ag (Hole A06-12), and 4.00 m assaying 5.06 g/t Au and 99.1 g/t Ag within a broader interval of 20.7 m assaying 1.73 g/t Au and 31.9 g/t Ag (HoleA07-03).
At Pillar East, epithermal Au-Ag mineralization is hosted in a structural system of variably oriented quartz-amethyst vein and quartz-carbonate breccia zones. Trenching has demonstrated that the mineralized system trends to the NNE for over 500 m, and spans across an ~100 m width.
In 2018, channel sampling from 14 trenches identified 9 new Au-Ag mineralized structures. Priority trenches were excavated at a quartz breccia sub-crop where a 2017 grab sample yielded 19.95 g/t Au and 423 g/t Ag (T2), and ~40 m to the north where a quartz breccia boulder sampled in 2006 assayed 6.57 g/t Au and 13.1 g/t Ag (T1). Trenches T1 and T2 exposed steeply dipping, NW-striking mineralized zones comprised of silicification, quartz veining and quartz-carbonate breccias. Elsewhere, several trenches exposed mineralized and structural (fault) zones that strike northerly and dip near vertically suggesting there are two or more structural orientations associated with the epithermal trend. Free gold, electrum and argentite were visually identified in four samples from T2. Overall, 23 trench samples returned > 1 g/t Au and range up 20.63g/t Au; 15 trench samples assayed > 50 g/t Ag and range up to 694 g/t Ag. Galena (Pb), sphalerite (Zn) and chalcopyrite (Cu) present in many of the structures and metallic analysis of high-grade samples confirmed the presence of coarse gold and silver.
Trenching in 2019 yielded up to 2.79 g/t Au, 12.7 g/t Ag, and 2.4 % combined Pb-Zn over 4.0 m. Mineralization appears to be associated with feldspar-phyric dykes and micro-diorite of the Black Lake Intrusive Suite. Locally elevated Mo suggests a possible porphyry affinity for observed low-sulphidation epithermal-style Au-Ag.
DDH Assay Results
Trenching Results
In the summer of 2024, Cascadia Minerals completed two diamond drill holes totalling 1,759 meters (“m”) at the PIL South target including PILS-24-006 returned 162.00 m of 0.10% Cu with 0.05 g/t Au, 7g/t Ag, and 0.18% Zn from 749.00 m, including 1.65 m of 1.34% Cu with 0.63 g/t Au and 195 g/t Ag. Drilling at PIL South returned broad intervals of low-grade copper, gold, silver, molybdenum and zinc mineralization, with Cu-Au grades increasing towards the bottom of both holes suggesting that the drill holes are distal to a porphyry source.
