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The 100% owned FG Gold property (“FG Project”) contains a sediment hosted orogenic gold and early stage gold-copper porphyry projects located in the Cariboo region of British Columbia, approximately 100 km east of Williams Lake. The FG Project is located at the headwaters of the Horsefly River, 50 kms east of Horsefly, B.C. and consists of 35 contiguous claims (13,008 ha). The FG Project is at low elevation and accessible by forestry roads.
The FG Project contains a sediment hosted orogenic gold prospect on the northeast limb of the Eureka syncline. The syncline is >20km with the prospective horizon being defined by geologic mapping, gold in soils and geophysics with the southwest limb and hinge zone being largely underexplored. The Project has only been shallowly drilled where gold mineralization is proximal to surface. Past drilling averages only 93m deep into a moderately dipping sedimentary host rock. Mineralization is open at depth and along almost the entire syncline.
Historical drilling targeted stratigraphic controls of gold mineralization and only tested a very small portion of the prospective host rock. Drilling was largely done by a combination of reverse circulation (“RC”) and diamond drilling using generally small diameter core. The previous work largely focused on discovering and developing a low-grade, bulk-disseminated gold potential. Recent drilling suggests that mineralized corridors or chutes of higher grade gold persist into largely untested portions of the host stratigraphy.
Refer to the Exploration Highlights page for more details on the FG Gold exploration programs.
2021 Exploration Program
During 2021, Karus Gold drilled 7,142 metres in 19 diamond drill holes. The program successfully:
(1) confirmed the orientation of vein corridors hosting high-grade gold mineralization identified by the 2020 drill program; (2) demonstrated continuity of gold mineralization within vein corridors through 50 m spaced drill holes along trend; and (3) opened the potential for stacked vein corridors with several zones of increased veining outside of the targeted corridors.
Read the latest news releases on the FG Gold exploration results:
Table of Significant 2021 Drill Results
1. Karus Gold has not been able to determine true width yet due to complexity of the vein structures within the mineralized zones. The 2020 drill program was designed to better understand the geometry and how the mineralized zones are related. The orientation of individual quartz veins within the mineralized zones are quite variable. Reported widths are drill indicated core length and not true width, for the reasons above. Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts. 2. Drilling data on the Lower Zone is currently limited and the true thickness and orientation of the zone is not firmly known. However, based on current data, it is estimated that intercept represents ~50%-75% of the true thickness of the zone. 3. Composites are calculated using a 0.3 g/t Au cutoff, incorporating no more than 7 m downhole dilution. Higher grade composite sections are calculated using a 1 g/t and 3g/t cutoff incorporating no more than 5 m downhole dilution. Screen metallic assay data is utilized preferentially over standard fire assay analysis where available as it is more representative of the true sample value due to the increased sample volume processed and the multiple gold size fractions analyzed.
2020 Exploration Program
In 2020, drilling included 7,412 meters in 23 diamond drill holes. The focus of which was to evaluate the along strike and potential for gold mineralization to extend below areas of historical drilling. Detailed interpretation of the 2020 drill program at FG Gold identified two higher-grade gold vein corridors downdip of historical drilling. Both corridors extend 650 m along strike and are open for extension and provide an exploration roadmap for further upgrades and new underground grade discoveries.
Highlights from the 2020 drill program include:
Nova Zone
The FG Project also contains prospective gold-copper porphyry targets within an intrusion called the Nova Zone. The Nova Zone, potentially 3.5 km by 1 km, was discovered in 2018 through compilation of historical soil geochemistry, and airborne geophysical studies. 2018 drilling demonstrated semi-massive and massive copper and iron sulphides and intersected (hole DDH-18-002) over 32 meters of 0.52% copper equivalent, including 8.65 meters of 1.1% copper equivalent.[1] Gold grades as high as 5.70 g/t, copper grades as high as 1.01%, and silver grades as high as 4.98 g/t were encountered in drill core.
[1] Cu equivalent calculated using metals prices at April 29, 2019: USD$1,278/oz Au, US$14.77/oz Ag, US$2.90/lb Cu.
