Re-Exploring the Prolific Greenwood Mining Camp
With New Technology
Phoenix Gold-Copper Property Overview
- With over 30 historic copper-gold-silver mines, including past producing open pit Phoenix mine, the GGX’s property package is potentially ripe for new discoveries using modern exploration techniques / methods.
The Phoenix Mine produced 21.5 Mt @ 0.9% Cu & 1.12 g/t Au, containing: 575Mlb Cu, +1 Moz Au & 18 Moz Ag (BC MINFILE 082ESE020)
- +100 years of exploration data has been compiled for first time into one single digital database thereby significantly de-risking project.
- Vectoring using historical data and modern geophysics (Airborne ZTEM/VTEM) to discover potential deep seated mineralized feeder system(s) beneath the +30 mines.
- Access to nearby Greenwood Toll Mill (15kms) may now make the GGX vein deposits economical to mine.
- Major power line and highway run through property.
- Property is within 15 minutes from communities of Grand Forks & Greenwood.
- Communities have long history of mining and are supportive of new mining projects
Phoenix Situated on Prolific Quesnel Terrane
The Quesnel Terrane (or called the Quesnel Trough) is a geological formation in British Columbia that hosts a number of Porphyry Cu ± Au-Mo-Ag porphyry deposits, several of which Mt Milligan, Mt. Polly, New Afton and Copper Mountain are currently in production.
Of note, two nearby open pit mines (New Afton and Copper Mtn.) were shutdown in the mid nineties. The mines however were subsequently acquired by new owners and by utilizing new technological methods of exploring at depth found large mineralized feeder systems underneath the previous open pit mines. The mines are currently in production.
With the Phoenix being situated on the Quesnel Terrane as well, GGX will be the first company to look beneath the Phoenix mine is see if there too is a large mineralized feeder system(s).
Afton Mine, Kamloops B.C.
Afton Mine operated by Teck Resources closed in 1997. 1997 Metal Prices: Copper: $0.77 per pound; Gold: $287 per ounce
New Gold, acquired the property in 1999 and conducted deeper exploration drilling. Utilizing new deep underground mining methods re-started production in 2012.
Copper Mtn. Mine, Princeton B.C.
Copper Mountain mine operated by Newmont closed in 1996. 1996 Metal Prices: Copper: $0.90 per pound; Gold: $369 per ounce
New owners (Copper Mtn. Mining) utilized deep penetrating geophysics (Titan) to show that there was much more copper & gold yet to be mined at Copper Mountain.
May 2010, Mitsubishi provided $322M financing for 25% of the project. Production began in 2011.
Phoenix Mine, Greenwood B.C.
Phoenix mine operated by Granby Mining closed in 1978. 1978 Metal Prices: Copper: $0.60 per pound, Gold: $178 per ounce
Similar to the New Afton and Copper Mountain mines GGX Gold plans to utilize new technology to look deeper to locate possible mineralized feeder system(s) beneath the Phoenix mine.
Aggressive 2019 Exploration Program Planned
Looking Beneath the Phoenix Mine
Similar to the New Afton and Copper Mountain mines GGX Gold plans to fly ZTEM-VTEM airborne geophysical survey over the Phoenix property.
- ZTEM will look up to 2 kms in depth in order to see the “plumbing system” and possible mineralized feeder system(s) beneath the Phoenix mine and other +30 mines.
- VTEM is a shallower high precision airborne survey which may delineate near surface controlling structures of the numerous mines and has the potential to produce shallower drill ready targets.
+100 Years of Historic Data Compiled
For the first time 100 years of historic exploration data from the Phoenix property has recently been compiled. Over 800 maps and 100 reports dating from the early 1900’s have been scanned, digitized and compiled into a single GIS database. This new database is invaluable, particularly when it will be combined with the results of the ZTEM/VTEM survey.
As part of the 2019 exploration program the company will quantify and qualify drill targets from this combined data set and commence drilling by Q3 2019.