04:15 EST on 04-25-2018   $0.11   -0.02   20 min delay
Rackla Metals Inc.
Rivier Property

Rivier Property

Rivier Property

The Rivier Property consists of 116 quartz claims covering 2,404 hectares, located in the Watson Lake Mining District 80 kilometres southeast of Ross River, Yukon. The Company holds a 100% interest in the Rivier Property partly by staking and partly under an option agreement. Voyager Gold Corp. ("Voyager"), a private BC company, was in turn granted the option to acquire from the Company a 60% interest in the property. Voyager has to date issued to the Company 200,000 common shares of Voyager pursuant to its option agreement.

The property was staked in 2010 to cover the source area for anomalous gold and arsenic values in stream sediment samples. The exploration target is a listwanite-associated lode gold mineralization of the Motherlode type. Pathfinder elements match the signature for this type of deposit. Geochemical results from soil sample programs identified three zones of anomalous gold values adjacent to a structurally controlled ultramafic body indicating the potential for significant gold mineralization. Each of the three zones includes at least one soil sample that contained over 2 grams per tonne gold.

An exploration program completed by Voyager Gold in 2011 consisted of 472 line kilometres of airborne multi-sensor geophysics, collection of 587 grid soil samples, six silt samples and 20 rock samples and reconnaissance geological mapping. The geophysical data shows a very strong and distinctive aeromagnetic high closely coincident with the serpentinite phase of the ultramafic body, and a surrounding strong magnetic low defines its contact with the listwanite alteration assemblage. The three zones of anomalous gold values, defined from soil geochemical data, flank the magnetic high.

The Rivier Property lies on a slab of allochtonous Slide Mountain Terrane that was accreted onto the margins of Ancestral North America in Mesozoic time, and then displaced by the regional-scale Cretaceous/Tertiary Tintina Fault. A three square kilometre ultramafic body of serpentinite and listwanite lies unconformably on rocks of the schistose Nasina assemblage of the Yukon Tanana Terrane.

In 2012 Voyager intended to explore with an initial program of trenching and 500 m of diamond drilling exploration but poor market conditions precluded financing arrangements.

In 2013 Voyager carried out a short program of geochemical mapping and soil, stream sediment and rock sampling, 139, 8 and 37 samples respectively. Geochemical results included a number of anomalous values for gold in soil (>27 ppb gold) extending the known anomalies.

The Rivier claims are in good standing until 2022. Rackla and Voyager are reassessing their plans for this property on a regular basis, with a view to recommencing exploration activities if the mining investment climate improves.