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Prospector Mountain EVALUATING PORPHYRY COPPER POTENTIAL USING INTEGRATED DATASETS – PRELIMINARY UPDATE

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Prospector Mountain

EVALUATING PORPHYRY COPPER POTENTIAL USING INTEGRATED DATASETS – PRELIMINARY

UPDATE

Located in Tintina Gold Belt, West Central YT; 88 km WNW Carmacks

Location

Historically explored principally for Epithermal Polymetallic Veins (Au-Ag-Pb-Zn-

Cu)

Porphyry potential never fully evaluated or explored for

Consists of 239 contiguous claims – NTS 115I/05; 100% owned by Alianza Minerals

Ltd. (formally Tarsis Resources Ltd.)

Work History 5 main work campaigns completed on the property from 1969 to 2011.

1. 1969 -1971 – Soil geochemistry & Mapping (Main operators - Sabina Mines Ltd; Phelps Dodge Corp.) FOCUS – Source of stream sediment anomalies; staking soon after initial discovery of Casino

2. 1979 -1983 – Soil geochemistry, Trenching, Mapping & Drilling (13 DDH) (Main operators – Archer

Cathro Ltd.) FOCUS – Vein Targets (deepest hole 192 m)

3. 1989 – 1992 – Trail Construction, Trenching (Vendor– Chevron; 4 optioners.)

FOCUS – Vein Targets

4. 1995 - 1999– Soils, Mapping, Rock Chip Sampling, IP, Magnetics, Radiometrics & Drilling (2 DDH) (Main Operator – Troymin Resources Ltd & Almaden Resources Corp.)

FOCUS – Vein Targets

4. 2008 - 2011– Soils, Mapping, Prospecting & Drilling (20 DDH) (Main Operators – Tarsis Resources

Ltd & Silverquest Resources (Now Independence Gold Ltd).) FOCUS – Vein Targets; Exploratory Porphyry (4 DDH; deepest hole 206 m)

Regional Geological Setting - 1 Prospector Mountain property forms part of

the regionally extensive, NW-SE trending polymetallic Dawson Range Mineral Belt that

is associated with several magmatic suites that have intruded through metamorphic rocks of the Yukon‐Tanana Terrane (YTT).

YTT – represents an accreted terrane separated from the Selwyn Basin and

associated carbonate platforms strata of the ancestral North American margin by the

NW‐SE trending Tintina Fault

Regional Geological Setting - 2 Precious and base metal mineralization associated

predominantly with three main ages of magmatism:

• Jurassic (Minto Mine) • Early-Mid Cretaceous (Mt

Nansen past producer) • Late Cretaceous (Casino deposit)

Prospector Mountain mineralization time equivalent

to Casino Cu-Mo-Ag-Au porphyry Deposit

Prospector Mountain – Late Cretaceous Mineralizing System

Property Geology - 1 Prospector Mountain

is the SE most occurrence of suite of

late Cretaceous intrusions (68-71 Ma) associated with Cu-

Au-Mo porphyry style mineralization

Cockfield Showing – Cu-Mo

Casino Deposit – Cu/Mo/Au/Ag

Prospector Mtn

Property Geology - 2 TWO broad lithological units

underlie the property:

(i) quartz monzonite porphyry & (ii) andesitic volcanic rocks (flows,

tuffs, agglomerates and other pyroclastic members).

Polymetallic vein occurrences occur on the western and

eastern sides of the property

Western Cu-Au-Ag-Pb veins - focus of much historical work

Eastern veins (Bonanza Zone) received most attention in most

recent exploration activity

Western Veins Bonanza Zone

Western Vein targets Au-As+/-Cu+/-Pb+/- Zn Veins received the bulk of exploration attention in 4 of the 5 work

programs completed on Prospector Mountain Property

As in Soil

Trenching

Intrusion contact

Bonanza Zone – Eastern Veins Prospecting and Mapping in 2009 revealed new polymetallic vein system, subsequently

drill tested

Porphyry Deposit Style Evaluation - Objectives

1. Review all available data and conduct site visit to collect samples and assess the Porphyry potential of the Prospector Mountain property.

2. Conduct analysis of available landsat Imagery to assess alteration

styles/intensity.

3. Access, re-log and sample historical drill core store at Yukon Geological survey core library

4. Conduct select analytical work to test porphyry deposit model

Porphyry Deposit Model – Work Plan

1. Coeval volcanism-magmatism: U-Pb Geochronology – completed; Report Delivered

2. Confirmation of assay results from precious and base metal epithermal vein

systems (interpreted as distal to porphyry ore body): Assays received, data not compiled or synthesized (to complete)

3. Document the distribution and type of hydrothermal alteration and assess

validity to porphyry Cu deposit model: LANDSAT 8 Analysis, PIMA data, Petrographic samples, SEM samples (all part of the same suite).

PIMA data completed (SRK), not synthesized spatially; Petrography to complete and synthesize spatially; SEM work complete; report to complete on alteration sequence.

Porphyry Deposit Model – Work Plan

4. Depth-related variation in alteration and sulphides

(as viewed in historical drill core; Samples collected, partially analyzed; petrography and final data synthesis to complete)

5. Select samples analyzed for S isotopes to assess distal vs. proximal, i.e. where

are we in potential porphyry system

(Analyses completed – final synthesis to complete)

Historical Soils Review

Historical 5 (Au-As-Cu-Pb-Ag) and 3 (Cu-Mo-Zn) element soil geochemical grid data are available for the western and eastern sides of the property,

respectively.

Data were analyzed in 1981 and 1971 (respectively).

Strongest correlations occur between Au and As.

Cu shows poor correlation to precious and base metals.

Cu anomalies are spatially disparate to Au-As anomalies suggesting different mineralizing events

Historical Soils Review – As in Soils

As in soils was used to target polymetallic vein occurrences on western side of property

As anomalies show poor spatial

correlation to Cu values > 100 ppm

Trenches

Historical Soils Review – Cu in Soils vs TMI (west)

Cu > 100 ppm broadly overlaps with zone of high total magnetic

intensity

Trenches

Historical Soils Review – Cu vs As, Pb and Zn

1. Clusters of high value Pb & Zn coincide with

High As (Veins)

2. Lower intensity Zn and Pb anomalies

coincide with broader Cu

anomalies. Non-coincident with As

(porphyry signature?). Drill Collars

Veins

Broader Cu-Pb anomaly

Landsat 8 Analysis

A cloud free Landsat 8 scene collected July 2014 was acquired and analyzed using false colour composites and three specific

band ratios

B4/B2 – Iron Oxides B6/B5 – Ferromagnesian minerals

(Chlorite, biotite, hornblende, pyroxene)

B6/B7 – Clays (OH) and Vegetation

Landsat 8 Analysis True Colour Composite

Landsat 8 Analysis False Colour Composite

R – B4/B2 (Fe oxide) G – B6/B7 (Clay) B – B10/B11 (Silica)

Clay + FeOx

Landsat 8 Analysis False Colour Composite

R – B4/B2 (Fe oxide) G – B6/B7 (Clay) B – B6/B5 (Ferromagnesian)

Clay + FeOx

Ferromagnesian Minerals

Vegetation

Landsat 8 Analysis False Colour Composite

R – B4/B2 (Fe oxide) G – B6/B7 (Clay) B – B6/B5 (Ferromagnesian)

Clay + FeOx

Ferromagnesian Minerals

Vegetation

Landsat 8 Analysis - Regional Perspective

Three Late Cretaceous Intrusions (68 – 71 Ma)

Associated with porphyry Style mineralization

Landsat 8 Analysis - Regional Perspective

Cu RGS values – strongest Anomalies around Casino

Decreasing intensity around

Mt Cockfield Occurrence.

Lowest Cu Anomalies around PM

Landsat 8 Analysis - Regional Perspective

Casino Porphyry Deposit

Lowest amount of Ferromagnesian minerals

Color zonation pink to

purple to blue

Landsat 8 Analysis - Regional Perspective

Mt Cockfield Cu-Mo Porphyry Occurrence

Minor pink

Color zonation pink to

purple to blue

Increasing Ferromagnesian content

Landsat 8 Analysis - Regional Perspective

Prospector Mountain

Very minor pink

Distinct orange (FeOx+clay)

Significant

Ferromagnesian content

U-Pb Geochronology

New U‐Pb age data

were determined for 3 andesitic volcanic

rocks and one feldspar

porphyry dyke that occur on the

Prospector Mountain Property

Previous workers

suggested the volcanic units were

mid Cretaceous in age

U-Pb Geochronology

Three variably altered andesite volcanic samples

(2 volcanic flows and 1 welded tuff) yield

crystallization ages of 71.47 ± 0.26 Ma, 71.11 ± 0.53

Ma and 70.9 ± 1.2Ma, respectively

(Overlap with age of Casino Intrusion)

The fourth sample, which is a pervasively quartz‐sericite‐pyrite altered feldspar porphyry dyke which cross cuts ca. 69‐68Ma porphyritic monzonite

intrusions of the Late Cretaceous Prospector Mountain Suite, yields an age of 67.08 ± 0.44 Ma

U-Pb Geochronology - Summary

U-Pb Geochronology - Summary

These new age data provide an important temporal link between the Prospector Mountain Suite Intrusive Suite and the overlying volcanic cover sequence

indicating the two magmatic suites are products of the same magmatic cycle.

Precious/Base Metal Vein Assays

Western epithermal vein

sampling locations

Precious/Base Metal Vein Assays

Epithermal vein sampling locations

Au-60ppm; Ag-115 ppm; Cu-1235 ppm; Pb-1.9%; Zn – 770ppm As-4490ppm; Sb-557ppm; Bi-60ppm

Precious/Base Metal Vein Assays

Au-21ppm; Ag-140 ppm; Cu-1645 ppm; Pb-5.32%; Zn – 1180ppm As-195ppm; Sb-31ppm

Precious/Base Metal Vein Assays

Hydrothermal Alteration PIMA data, Petrographic samples, SEM samples (all part of the same suite).

SEM

Petrography

Historical Drilling

1980’s Drilling was reviewed at

YGS during winter 2013

Holes Reviewed and

photographed 82-LP-01 82-LP-02 82-LP-03

82-LP-04A 82-LP-05 82-LP-06 DDH-13

Samples were

taken for petrography, SEM, PIMA, S isotope and

geochemistry

Historical Drilling

Historical Drilling

Most Noteworthy Preliminary Observations:

1. Holes were drilled primarily in volcanic cover. Greatest depth was 193 m

2. Propylitic alteration is progressively overprinted by potassic alteration with increasing depth

3. Overprinting Kfs+Magnetite + Qtz sulphide veinlets increase downhole

that were not logged or sampled

4. Chalcopyrite appears to visually increase with depth

Propylitic alteration is progressively overprinted

by potassic alteration with increasing depth

Mineral Mapping/ Sulfur Isotopes

(reproduced from

Wilson, Cooke,

Harper, and

Deyell, 2007)

A suite of samples from Prospector Mountain were selected for automated SEM mineral mapping and

subsequent S isotopes.

Mineral Mapping was used to identify sulphide phases for analysis and to determine areal abundances of

chalcopyrite

Pyrite and Chalcopyrites were analysed from both surface samples.

Sulfur isotope values become more negative closer to main ore zone of porphyry copper deposits

Success of method dependent on identifying coeval pyrite and chalcopyrite phases (i.e. good vein timing

relationships

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Mineral Mapping/ Sulfur Isotopes

Surface Grab

PM-11-11; 52 m

LP-82-03; 167 m

Sulfur Isotopes – Preliminary Interpretation

Initial System Level Interpretation Western Zone polymetallic

surface veins

Limit of sampling

and drill testing for

porphyry

Bonanza Zone