History

Paxson Location Map
Paxson Location Map
From 1998 through 2001, Grayd Resources (USA) Inc. and Placer Dome (USA) Inc. spent a total of approximately $1.3 million exploring for gold deposits on the current Paxson property. In total, 26 line-km of gridding, 23.5 line-km of geophysics, 24 man-days of prospecting, the collection of 1,023 soil samples, the collection of 325 rock samples, 72 metres of hand trenching and 1,743 metres of diamond drilling in 12 holes comprising 1,174.7 metre were completed.

A total of 285 soil samples assayed greater than 100 parts per million gold and 13 assayed greater than 1 gram per tonne gold. Out of the 325 rock samples collected, 165 assayed greater than 100 parts per billion gold and 61 assayed greater than 1 gram gold per tonne.

In 2007, acquired the Paxson property through an internal staking program and identified three priority areas for follow-up; the Shalosky Zone, the Hunter Zone and the Low Zone.

2001 Shalosky Diamond Drill Hole Summary and 2010 Validation Results

Target Tested Hole # Dip Azimuth Depth (m) From (m) To (m) Width (m) 2001
Gold (g/t)
2010
Gold
(g/t)
Variation
(%)
Shalosky WG01-01 -45 340 152.4 69.0 107.2 38.2 0.8 0.8 nominal
        Including 75.0 79.7 4.7 2.1 1.3 -38
        including 105.1 107.2 2.1 3.8 6.4 +68.4
          117.5 118.8 1.3 12.2 17.8 +45.9
Shalosky WG01-02 -50 340 170.1 95.6 113.1 17.4 1.2 1.2 nominal
        Including 97.1 104.1 6.9 2.2 2.0 -9.1
Intervals shown are mineralized lengths of core; geometry is not well enough understood to reliably calculate true widths.
During the 2010 field season, a total of 50 rock samples and 21 soil samples were collected during the program. Highlights from rock sampling of highly altered metasediments on the Paxson project include:
  • 8.85 g/t gold (weighted average) from a 7.0-metre continuous chip sample at the Shalosky zone;
  • 13.37 g/t gold (weighted average) from a 3.0-metre continuous chip sample at the Low zone and;
  • 50.80 g/t gold from a rock grab sample at the Hunter prospect.

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