Honolulu Prospect – Honolulu Creek, Alaska – USA
The Honolulu Prospect remains the best exploration target for the development of a significant high grade hydrothermal silver deposit in Alaska today. Silver grades and thicknesses from historical and recent drilling indicate the Honolulu prospect contains mineralization similar to the top active silver mines in the world. Located just one mile off the Parks Highway, mid-way between Fairbanks and Anchorage, the 20 square mile property hosts outstanding near-by infrastructure to insure the economics of mining will be at the lowest end of the Alaskan scale.
Last year’s ambitious 2016 drilling and prospecting program confirmed historical high-grade silver assays, expanded known mineralization within the Discovery Creek prospect and defined four other areas on the property with significant base metal and/or precious metal mineralization. The encouraging results from the 2016 drill program more than warrant continued aggressive exploration on the property. In 2017, exploration efforts will more than double the 2016 drill program from 8,645’ to a planned 20,000’ of drilling. Our exploration objective is to further prove and expand the extraordinary grade and thickness of known silver mineralization and reach our resource estimate goal of +300M oz silver.
Additionally, prospecting on the larger claim block will expand in 2017 to include continued soil sampling, geologic mapping, grab sampling and an airborne geophysical program. These efforts will aid in further developing drill targets within zones previously identified to contain significant mineralization. In 2016, a structural trend extending for over three miles across the claim block striking N30W was identified to be associated with mineralization. The Discovery Creek prospect as well as two additional areas containing base-metal and silver bearing veins have been identified along this trend. We are very optimistic about the upside of further exploration along this trend as well as our land position around it. Additionally, two areas in the northeastern portion of the claim block contain significant amounts copper that occurs as chalcopyrite and secondary copper minerals within roughly east-striking south-dipping veins and fractures in quartz monzonite. These veins/fractures occur in an area with abundant gossens and broad sericitic alteration and may be indicative of a copper porphyry at depth.