KING SOLOMON PROJECT
The King Solomon Dome is a topographical high point (1230m) in the Dawson Mining District in the Yukon Territory of Canada. It is a prominent feature on ridges long rumored to be the source of the gold that sparked the Klondike Gold Rush in the late 1890's. Early maps of the Klondike Gold Fields, such as the one shown below depict the major gold discoveries (shown in red) in creeks draining directly off the 'Dome'.
LOCATION OF KSD WITHIN THE KLONDIKE PLACER GOLD FIELDS
Kestrel's 100% owned King Solomon Dome project is located in a key location in relation to the original discoveries, notably those by George Carmack, Skookum Jim Mason and Robert Henderson, considered the co-discoverers of what turned out to be one of the most significant gold rushes in history.
The King Solomon Dome (KSD) property is only a 30 minute drive from Dawson City. Exploration costs are accordingly far below most typical Yukon exploration projects requiring air support.
Importantly, Kestrel's King Solomon Dome property is at the hub of a radial pattern of the rich placer gold creeks of the Klondike Gold Fields that are still being mined today, and indeed, as some of the best gold producers in North America.
The 'mother lode' source of the Klondike Gold Fields, has to date never been found, but the drainage pattern alone suggests a localized concentration of bedrock gold and silver.
KEY FEATURES OF SIGNIFICANCE
Kestrel's King Solomon Dome (KSD) property features en echelon NNW trending structures with associated high grade (multi-gram) gold and silver. Bulk samples taken in Klondike Schist at the King Solomon Dome property obtained by previous operators have returned up to 4 g/t gold near surface in areas surrounding the Dome.
The properties all exhibit strong soil anomalies in gold and associated path finder elements. The main gold soil anomaly at the KSD property is particularly large with the main anomaly being 1.6km x 1km (using a threshold level of 30 ppb Au). A corresponding zonation of silver, arsenic, lead copper and zinc anomalies occur within and around the main gold bearing zone. Gold soil anomalies are present and open over a 3.5 km strike length of the KSD property.
Gold - silver vein systems (Sheba, Sheba East, Mitchell and Orekon) can be traced for several hundred metres and cut through the relatively flat lying and also folded Klondike Schists along moderately to steeply dipping (D4) fractures.
Kestrel's trenching program at KSD within Klondike Schist host rocks, defined a strike length of the gold bearing quartz vein system over 2.6 km long and at least 0.4 km wide containing values up to 17 g/t Au and several values of silver greater than 50 g/t. Altered pyritic-sericitic wall rocks of Klondike Schist also contain good gold values up to several metres from the main veins. The vein system is open along strike.
Kestrel's 2011 geophysical survey identified a large IP chargeability anomaly over a distance of 1.2 km parallel to the main Sheba and Mitchell gold bearing vein systems. The anomaly defined by this survey is open along strike and deepens at depth to the east.
Kestrel's follow-up 2012 geophysical survey identified large IP chargeability anomalies to depths around 350 metres below the topography and extending over a width of over 1 km to beyond the Orekon vein system to the east of the Dome. The geophysical and geochemical anomalies at KSD are open to depth and along strike.
Several drill targets have been identified at KSD and Kestrel Gold (with Rackla Metals) conducted a modest preliminary drill program in September 2013 on a portion of the Sheba and Sheba East Veins totaling 1200 metres with values of up to 4.89 g/t Au and 45.6 g/t Ag returned from the program.
Several existing and new zones on the property outlined by Kestrel Gold require further exploration.
An orogenic gold geological model is proposed for the genesis of mineralization on the properties.
Orogenic deposits are typically formed in fault and shear systems and may have vertical extents in excess of 2 km and generally occur where regional hydrothermal fluids exploit crustal weaknesses in metamorphic rocks spatially associated with large-scale tectonic structures.
Most large placer gold deposits in the North American Cordillera show a close spatial relationship to “ophiolitic” crustal rocks near terrane-collisional boundaries. Exploration is focusing on understanding the litho-tectonic setting of the bedrock host.
Identifying structural traps and corresponding favorable host lithology within the regions of the large geophysical and geochemical anomalies, is considered important in defining exploration targets for concentrations of bedrock sources of the placer gold.
Kestrel owns 100% interest in the King Solomon Dome project.
For more details on the original option arrangement, please refer to the news release dated December 2, 2010.