The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska as well as five claim groups (Cantoo, Casey, Texas Creek, Mineral Hill, and Rooster), collectively called the ‘Hyder Properties’ located near Hyder, Alaska/Stewart, BC. The Company has also recently signed a Memorandum of Understanding (MOU) with Dolly Varden Silver Corp. and New Moly LLC to jointly study the viability of New Moly’s Kitsault property as the potential site for a centralized polymetallic processing facility that could accept mineralized material from the Companies’ respective deposits in a ‘hub and spoke’ model.
Niblack: Hosts multiple Cu-Au-Zn-Ag deposits and prospects, located next to tidewater on Prince of Wales Island in southeast Alaska. Current N.I. 43-101 Compliant Mineral Resource(1) including 5.854 million tonnes averaging 0.94% Cu, 1.83 g/t Au, 1.73% Zn and 29 g/t Ag in the Indicated Category and 214 thousand tonnes averaging 0.93% Cu, 1.52 g/t Au, 1.38% Zn and 18 g/t Ag in the additional Inferred Category. Primarily hosted in the Lookout Zone, the Mineral Resources have excellent metallurgical recoveries within a wide mineralized zone, up to 120 meters in true width. Mineralization is wide open for expansion in most areas, and numerous prospects have only received limited drill testing.
Hyder Properties: Collection of five claim groups on an under explored extension of the ‘Golden Triangle’ in SE Alaska near Hyder, AK and Stewart, BC. Limited exploration in the area in the past 25 years despite numerous known high grade precious and base metal historic prospects and mines. Priority targets for Blackwolf include:
- Cantoo: Outcropping zones of alteration, brecciation, and veining up to 30m thick with assays up to 37.6 g/t Au(2). Despite minor historic mining (1920’s) the target is undrilled and is located approximately 3km west of Ascot Resources Premier Mine, currently under development.
- Texas Creek: Multiple precious and base metal prospects known across the property, with priority on the high-grade Solo and Dog Hole prospects. Solo includes rocks samples up to 20.6 g/t Au, 386 g/t Ag, 26.5% Pb and 10.9% Zn from a series of NW and NE striking veins and has potential for electrum bearing veins, with similarities to the Premier and Brucejack deposits, based on historic reports. Dog Hole includes rocks up to 16.6 g/t Au, 585 g/t Ag, 0.13% Cu, 1.52% Pb, 3.32% Zn from a series of NE trending veins traced over 220m and are open along strike(2).
The Company holds an approved Plan of Operations from the US Forest Service for the Cantoo and Texas Creek projects and plans to initiate drilling on the Cantoo in summer 2023.
(1) Refer to the Company's New Release dated February 16, 2023 regarding the updated NI 43-101 Resource Estimate for the Niblack Cu-Au-Zn-Ag Deposit, Alaska. The resource estimate was conducted by Dr. Gilles Arseneau, P.Geo. of Arseneau Consulting Services (“ACS”) and is reported within the guidelines of the Canadian Securities Administration National Instrument 43-101 (“NI 43-101”). The resource estimation uses a US$100 cut-off using long-term metal forecasts: gold US$1,650/oz, silver US$20.00/oz, copper US$3.50/lb, and zinc US$1.10/lb; and metal recoveries of 94.3% Cu, 72% Au, 76% Ag, and 90.2% Zn. Detailed engineering studies will determine the best cut-off.
(2) Refer to the Company's New Release dated January 17, 2023. Available on SEDAR.