Projects

Yukon Properties

Keno

Size

  • ~ 283 hectares
  • 19 quartz mining leases

Target

The principal target on the Property is silver, lead and zinc in veins, with a secondary target of peripheral gold- and silver-bearing veins.

Access

Access to the Property is by gravel roads from Mayo


Keno

Location

  • The Keno Hill Silver District, north-central Yukon
  • Approximately 45 kilometres (km) northeast of Mayo and 360 km north of Whitehorse

Project Overview

Plata Silver Mines Ltd. used the Keno Project properties to obtain a listing on the Vancouver Stock Exchange, and began trading in March 1962. Plata Silver subsequently went through various name changes, eventually becoming Silver Quest Resources Ltd. in 2005. Independence Gold Corp. was created pursuant to a statutory plan of arrangement completed December 23, 2011 between Silver Quest and New Gold Inc.

A historical resource estimate of 39,900 tonnes grading 548.6 g/t silver, 6.9% lead and 10.7% zinc was made by D.D. Campbell in 1965 (Yukon Open File Report 106-D). (This is a historical resource estimate, and was not compiled within the definitions and standards outlined in National Instrument 43-101, and the Company cautions that this historic estimate cannot be relied upon. The Company does not view the historical estimate as current mineral resources. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources). Campbell also reported "With present (1965) knowledge of the ore controls it is possible to confirm a fair tonnage of ore with a moderate amount of raising and short drilling. Also, the potential of finding new ore bodies along strike is excellent wherever greenstone or quartzite bands may be encountered".

History

The Keno Hill Silver District produced more than 217 million ounces of silver from ore with an average grade of 1,388.6 grams per tonne (g/t) or 40.5 ounces per ton (oz/t) silver, 5.6% lead and 3.1% zinc between 1915 and 1988 (Yukon Government's MINFILE database).

The Formo Group is the principal property in the Keno Project area, and is comprised of 13 of the 19 mining leases that together make up the Keno Project properties. There has been a total recorded production of 174.5 tonnes of ore from the Formo Group since 1936 (Yukon Geological Survey MINFILE occurrence 105M 018).

A limited sampling program was completed on the Formo Group in 2008, in order to confirm reported historic mineralization on the property. Select rock samples from the dump at the 2700 level adit contained up to 3,025 g/t (88.2 oz/t) silver, 19.50% lead and up to 39.80% zinc (see the Formo Group rock sampling map). The 2008 rock sampling results confirmed the tenor of mineralization on the property.

Geology

A northeast trending vein contains lenses of galena, sphalerite and minor tetrahedrite in carbonate gangue on the Formo Group. This vein is emplaced along a transverse fault that crosscuts schist and greenstone beneath the Mississippian age Keno Hill (Central) Quartzite.

Ownership

A 100% interest in 19 mining leases.

Maps & Figures

Property Tenure Map
Property Tenure Map
Sampling & Geology Map
Sampling & Geology Map

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