The Paxson Project is located 50 km southwest of Tok in eastern Interior Alaska within the Yukon-Tanana terrane; an accreted pericratonic rock sequence that extends into the Yukon Territory and British Columbia. The terrane underlies part of the Tintina gold belt and hosts gold deposits spatially related to Mesozoic intrusions, including Pogo, Fort Knox and Livengood. Exploration work to date on the Paxson Project has identified widespread gold mineralization associated with fractured and hydrothermally altered rocks. The areas of gold mineralization occur over an area measuring approximately eight by three kilometres, representing only a small portion of the 87.6 square km Paxson Project. A 14-hole diamond drill program completed in September 2011 targeted three distinct areas; Shalosky, Low and Hunter.

A total of eight diamond drill holes comprising 1,388 meters tested the Shalosky zone over a 600 meter strike length and down to depths of approximately 175 meters below surface. The Shalosky zone is associated with a regional east-northeast, steeply dipping structural corridor adjacent to a regional thrust fault. Seven of the eight holes encountered significant gold mineralization with an estimated true width ranging from 5-to-35 meters. Mineralization, which is open in all directions, appears to be getting wider at depth (WG11-04-- 23.1m@3.5 g/t Au) and to the west (WG11-12-- 69.0m@1.7 g/t Au). Gold mineralization is hosted in primarily metasediments (quartz sercite schist) and can generally be characterized by two distinct styles. The highest grades are associated with quartz veins and hydrothermal breccias exhibiting several episodes of brecciation. This style of gold mineralization generally yields grades between five and 23 g/t Au. The lower grade gold mineralization is associated with pervasive hydrothermal alteration and yields grades ranging between 0.2 and 4 g/t Au. The hydrothermal alteration is characterized by intense clay alteration and locally intense silicification.

Located approximately, 3.2-km east, southeast of Shalosky, a total of four diamond drill holes comprising 537 meters tested the general Low area. Two holes targeting the Hi-Low Showing encountered significant gold values within oxidized, carbonaceous fragmental rock, silica and muscovite alteration that is associated with intermediate and mafic dikes (WG11-05 -- 13.6m@3.4 g/t Au). The andesite and dacitic? dikes appear to have utilized the same structures as the mineralizing fluids, but they are themselves altered and locally auriferous (WG11-06 -- 2.2m@8.6 g/t Au). In other cases, dikes are barren. Thus the relationship between dikes and the auriferous hydrothermal system remains poorly constrained and the nature of the relationship between lithology, alteration, structure, and gold mineralization is not yet understood.

Two holes comprising 323 meters were collared approximately 2.8-km west of the Low zone at the Hunter showing where surface sampling returned grab samples of up to 50.8 g/t Au. While, neither hole encountered significant gold mineralization, highly anomalous silver/tungsten values were encountered. The anomalous silver/tungsten values occur within highly broken and altered metasediments with very poor core recovery (less than 50 per cent). The very high silver value (963 g/t Ag) occur at the interface of overburden and bedrock.  

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