Coppermine River PROPERTY
Sitka Gold, through its wholly owned subsidiary Arctic Copper Corp., holds over 50,000 hectares of mining claims in the Coppermine River area in Nunavut that exhibit exceptional potential to host economic grade copper and silver mineralization. In 2015 a first phase exploration program was conducted on the Coppermine River Property that was comprised of prospecting, geological mapping and a gravity geophysical ground survey. Prospecting during the exploration program culminated in the discovery of a new sedimentary hosted copper showing (the ‘Copper Leaf’ showing) and a coincident gravity anomaly over the mineralized area. The Copper Leaf showing is comprised of disseminated plus massive chalcocite and malachite mineralization within the Husky Creek sandstones. Grab samples were taken from several mineralized occurrences within the sandstone unit while prospecting the Gabbro-Sediment contact along a 2km stretch extending southward from the Copper Leaf showing. Copper and silver assays from these samples returned values as high as 13.45% Cu and 65 g/t Ag. This bodes well for the discovery of large sediment hosted copper deposits in this area, given that this dike-sediment contact extends for more than 12km through the Company's mining claims. The Company is in receipt of a technical report by Scott Close, P.Geo., dated Dec. 15, 2015 on its Coppermine River Property that includes the most recent results of the 2015 exploration program.
During the first half of 2016, the Company submitted the appropriate paperwork to obtain a permit to conduct a modest exploration program on its Coppermine River property that would have included drill testing of the new Copper Leaf discovery. However, during the permitting process the Company became aware that the Nunavut Planning Committee (NPC) was drafting changes regarding the designation of the Property's zoning in the proposed Nunavut Land Use Plan draft, whereby the area could become protected and not available for mineral exploration. The NPC proposed that a large area, which includes our property, should be protected and inaccessible for mineral exploration. At present, the Coppermine River property is in a jurisdiction that allows for mineral exploration and development but these proposed changes in the Draft Nunavut Land Use Plan have created uncertainty regarding the ability to conduct future exploration work in this area. The Company has since elected to postpone any work on its Coppermine River property until this zoning uncertainty is resolved. At this point the NPC's suggestion to protect this area is a proposal only. The NWT and the Nunavut Chamber of Mines are voicing concerns on behalf of industry and are strongly opposing the NPC's attempt to protect this large area.
All of the claims and permits for the Company’s Coppermine River Property are currently under Section 51 of the Mining Regulations of Nunavut. Under Section 51, if a claim holder is unable to do the required work because the holder is, for reasons beyond the claim holder's control, waiting for a public authority to give an authorization or decision without which the work cannot proceed, the claim holder may request a one-year suspension of the work and charge requirements.
See claims map
Plan Map Copper Leaf Showing
Gravity Anomaly Profile Copper Leaf Showing