September 6, 2022 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the completion and results of its Phase 1 exploration program at the Eagle Lake property in south-central BC (British Columbia).
The program included prospecting, geological reconnaissance mapping, and a 432-sample Mobile Metal Ion (MMI) soil geochemical survey covering a 3 x 3.5-kilometre area.
The MMI survey was designed to cover historic drill showings which include a drill intercept of 3.52 g/t Au over 9.9 metres (2011 drill hole MOF-5). The survey identified an 850 x 700 metre Au-Cu-Ag-Mo (gold-copper-silver-molybdenum) anomaly which occurs over MOF-5 and extends east and north into an area where there is no documented historic drilling (see MMI soil anomaly map).
During the 2022 program, the exploration team located the historic drill core from the 2011 drill campaign and was able to examine and re-log the gold- and copper-bearing mineralized intercepts. Significant amounts of hydrothermal breccia, quartz-carbonate-potassium feldspar veining, and fault gouge were observed within the gold-bearing interval of MOF-5 which commences at 253 metres depth. Trailbreaker geologists have determined that these features are representative of a regional-scale fault structure that parallels the northwest-trending geological contact between the late Triassic Copper Mountain Plutonic Suite and the early Jurassic Takomkane Batholith. The MMI soil anomaly occurs along this contact.
To further investigate the surficial expression of the auriferous fault zone observed in drill core at depth, a large-scale induced polarization (IP) survey is recommended for the area of the 2022 MMI soil survey, as well as further MMI soil sampling to the east and north. Permits to conduct the geophysical survey as well as drilling at Eagle Lake have been applied for.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: “Before Trailbreaker generated this target and consolidated the land package, these historic drill intersections had yet to be followed-up. We have now confirmed an extensive multi-element soil anomaly over the location of the highest-grade intercepts from previous drilling. Very little historic exploration has been done in this area, and given that the Woodjam copper-gold project lies just to the northwest, we see a lot of potential for growth here.”
About the Eagle Lake property
Located 55 km east of Williams Lake, BC, the Eagle Lake property was recently generated by Trailbreaker through an agreement with Teck Resources Limited combined with additional claim staking (see May 18, 2022 news release). The property covers 18,990 hectares that are accessible by an extensive network of well-maintained forest service roads. It is situated directly adjacent to Consolidated Woodjam Copper Corp.’s Woodjam Cu-Au (copper-gold) porphyry project which hosts an inferred resource of 1.7 billion lbs copper and 968,100 oz gold (see Geology Map, Location Map, and Overview Map).
Trailbreaker’s claims are situated within the Quesnel terrane which is host to several of BC’s large-tonnage copper-gold porphyry deposits. These include: New Gold’s Afton mine, Imperial Metals’ Mount Polley mine, Taseko’s Gibraltor mine, and Centerra Gold’s Mount Milligan and Kemess mines. The Quesnel terrane also hosts numerous advanced-stage gold projects, such as the Spanish Mountain gold project (measured and indicated resource of >4.5 M oz Au) located 45 km north of Eagle Lake, and Karus Gold’s FG gold project, located 35 km to the east.
Results of limited historic exploration at the Eagle Lake property include a drill intercept of 3.52 g/t Au over 9.9 metres as well as numerous low-grade copper intercepts. A regional-scale till sampling program executed in 2019 demonstrated that anomalous gold-in-till values were returned from the southern portion of the Eagle Lake property hosting this drill hole.
Trailbreaker’s 2022 MMI soil survey was designed to cover the area of this drill hole and beyond, to potentially identify anomalous gold- and copper-in-soil trends that may have been overlooked in the past. Unlike conventional soil geochemical surveys, MMI analysis measures metal ions that travel upward from the bedrock and accumulate in the surface soil. This method is designed to potentially detect deeply buried mineralization and provide more focused targets for potential future drill programs.
Message from the President
“While the results of the 2022 program are very exciting, we still have an enormous amount of relatively un-explored ground to cover. The team and myself will be carefully planning the next steps at Eagle Lake in the coming months.”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
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Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.