El Toro

The 34,356 hectare El Toro Project area, NTS map sheets 93L/5, 6 and 11 is located in the Omineca Mining Division, 30 kilometres southwest of Telkwa, which is 11 km southeast of Smithers in central British Columbia at a latitude of 54°30'N and longitude of 127°15'W. The property lies within the Telkwa Range of the Hazelton Mountains and is bisected by the northerly flowing Howson Creek drainage. The El Toro property is 100% owned by Lions Gate Energy Inc.

The El Toro Project is primarily underlain by the Telkwa Formation of the subaerial to locally submarine Lower Jurassic Hazelton Group volcanic rocks, dominated by bedded maroon and green subaerial andesitic to dacitic crystal and lithic tuffs, lesser breccia, minor flow interbeds, and local rhyolite flows and tuffs. The Hazelton Group is intruded by small bosses, stocks and related dykes and sills of the Late Cretaceous Bulkley plutonic suite, primarily of quartz monzonite, monzonite and granodiorite compositions, with the largest (2 by 3 km) stock exposed in Sunsets Basin. The area is characterized by extensional basin and range type block faulting and a prominent north trending fault divides the property along Mooseskin Johnny Valley.

The principal deposit type present on the El Toro Project is the subvolcanic copper-gold-silver (arsenic, antimony) type, also referred to as transitional or intrusion-related polymetallic stockwork and vein types. The Equity Silver past producing mine, 60 km southeast of El Toro, is an example of this type of deposit and produced 33.8 million tonnes of 0.4% copper, 64.9 g/t Ag, and 0.46 g/t Au. The calc-alkaline porphyry copper-molybdenum-gold(silver) deposit type, commonly related to the subvolcanic type, is also present, associated with the Bulkley plutonic suite which occur as stocks and dykes across the property. The Huckleberry Mine, 70 km south of the El Toro Project, is an example of this deposit type and is associated with a stock of the Late Cretaceous Bulkley plutonic suite. Gold-silver-copper epithermal veins, and stockworks, commonly associated with the above deposit types also occur in the project area.

The El Toro Project covers a well-mineralized area southwest of Telkwa that includes 36 Minfile occurrences, including 3 past producers and 1 developed prospect in Hunter Basin, 6 prospects and 26 showings, as documented by the British Columbia Geological Survey Branch.

TMI Survey

  • The Fog and Fly porphyry copper-molybdenum-gold Minfile occurrences are coincident with a Total Magnetic Intensity low (TMI-Low) delineated by the 2007 airborne survey. This is a typical signature in porphyry deposits indicative of alteration within the intrusion.
  • Colorado, Rainbow and King Past producers, and Hunter Developed Prospects are aligned along sharp linear feature in the TMI survey

Previous production records and 2008 sampling (6.51% Cu, 4.65 g/t Au and 202 g/t Ag over 0.5m from the King Vein with 36.5% Cu, 155 g/t Au and 2306 g/t Ag from a grab sample) indicate high grade copper-gold silver vein type mineralization from the south side of Hunter Basin. Geophysical surveys and observed lineaments and a gossan, suggest continuity to the hosting structure of the King Vein. There does not appear to have been significant drilling to test the structures. The veins have potential to host similar mineralization along strike and down dip.

The Hankin Basin area has potential for possible bulk tonnage and local high grade copper-silver-gold mineralization with significant similarities to the past producing Equity Silver mine. Mineralization, traced for 5 km along strike and 2 km along dip, occurs in permeable horizons within andesite tuffs and in cross fractures and stockwork-breccia zones.

In Dominion Basin a significant quartz sulphide vein is exposed for 15m in the Friendly Trench returning 9.52 g/t Au, 180 g/t Ag, 1.68% Cu, 15.7% Zn and 0.95% Pb across 1.0m in 2008. There does not appear to have been extensive work in this area to trace the vein.

Although mineralization was locally restricted at the Duchess prospect due to late faults, there is significant potential along strike of the persistent, 4.2 km long Princess-Duchess-Countess-Silver Heels structure.

Previous porphyry copper-molybdenum-gold(silver) exploration in the Sunsets stock focussed on the phyllic alteration zones, but previous soil sampling and continued exploration has indicated better grades peripheral to these zones.

At the War Eagle stock copper-silver mineralization occurs peripheral to the intrusion as is the case at the Huckleberry Mine. In 2009 previous unpublished data was uncovered for a single diamond drill hole on the War Eagle showing a result of 0.70 oz/t Au over 10 feet, which had not been followed up.

High grade copper-silver mineralization is associated with felsic dykes peripheral to the poorly exposed MSJ stock and similar mineralization is associated with felsic dykes at the Joker Ridge quartz-pyrite zone and possibly related high grade Duchess copper-silver vein prospect in the Howson Basin area. The dykes may be related to mineralized stocks, the MSJ stock in the former case and a near surface buried intrusion at Joker Ridge. A mineralized dyke is also documented at the Pete showing in the Houston Tommy Creek area, outboard of the Loljuh stock. Significant porphyry copper mineralization was uncovered within the Loljuh stock in 2009.

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