August 8, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce that it has consolidated the Castle Rock property on northern Vancouver Island, British Columbia (BC).
The property was initially acquired through claim staking, then expanded through a partnership with Cazador Resources Ltd. (“Cazador”) in January, 2023 (see January 20, 2023 news release). Trailbreaker has now signed an agreement with Cazador which provides Trailbreaker with the option to own 100% of the 3,108-hectre (ha) Castle Rock property.
Highlights of the Castle Rock property
Covers 3,108 hectares of land on northern Vancouver Island, approximately 70 km northwest of Campbell River, BC (Figure 1)
Claims cover 5 Minfile occurrences on a district-scale structure that is >5 km-long, and newly identified gold ± copper-enriched intrusions
Relatively new discovery, in an area that hosts copper-gold (Cu-Au) porphyry and skarn deposits
Northern Vancouver Island is host to several large Cu-Au porphyry deposits including Northisle’s Hushamu deposit (Inferred Resource of 5.57 Moz AuEq)1, and BHP Billiton’s past producing Island Copper porphyry copper deposit (produced >2.7 B lb Cu and >1.0 Moz Au) 1
Newly accessible via recent logging activity
Historic chip sample returned assays of 2.0 g/t Au over 30 metres2 at the Heart zone, which is a brecciated zone containing 5 to 10% pyrite-chalcopyrite
Historic sampling returned assays up to 135 g/t Au from boulders, 1.5 km west of the Heart zone3
Gold is hosted in Jurassic granodiorite dykes which have been emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts
In September, 2022, Trailbreaker completed a 3-day first-pass evaluation program on the Castle Rock claims. The program successfully confirmed historic gold grades, with 2022 channel sample returning values up to 0.68 g/t Au over 13.11 m, including a subinterval of 1.85 g/t Au over 2.92 m. A soil geochemical survey outlined a 50 m x 400 m, northwest-southeast trending gold-in-soil anomaly interpreted to represent the surface footprint of the gold-bearing dyke exposed at the Heart zone. Soil values up to 5.44 g/t Au were returned, and the anomaly remains open.
Figure 1: Map of mineral claims colour-coded by pre-option agreement ownership. The soil anomaly associated with the Heart zone occurs on Trailbreaker claims and is open toward the southeast and northwest.
Option agreement with Cazador Resources
In January, 2023, Trailbreaker signed a partnership agreement with Cazador whereby each party owns 50% of the property.
Effective as of July 27th, 2023, Trailbreaker has signed an option agreement with Cazador which provides Trailbreaker the option to acquire the remaining 50% of the Castle Rock property (for 100% ownership) by completing the following:
Upon receipt of TSX-V approval for the option agreement, issuance to Cazador of 200,000 common shares;
A total of CAD$60,000 of expenditures on the Castle Rock property by the second anniversary of the effective date;
On the second anniversary of the effective date and annually to the fifth anniversary date, payment to Cazador of CAD$5,000 as advance payments on the royalty; and
On or before the fifth anniversary of the effective date, issuance to Cazador of a further 300,000 common shares.
Cazador will retain a 2% NSR (Net Smelter Return royalty) on claims currently 100% held by Cazador, and a 1% NSR on claims held jointly between Cazador and Trailbreaker. Once the option is exercised Trailbreaker may buy back 50% of the royalty by paying Cazador CAD$1 million.
2023 exploration at Castle Rock
During 2023 Trailbreaker plans to execute a property-wide geochemical soil survey to further expand the Heart zone soil anomaly outlined in 2022, and to explore for other mineralized intrusive dykes.
Numerous other historic showings remain underexplored, with no systematic exploration completed to date. The Flan showing, discovered in 2000, is located approximately 1.5 km west of the Heart zone. The showing consists of numerous high-grade boulders assaying up to 135 g/t Au. This indicates potential for the Castle Rock property to host much higher-grade gold mineralization than identified thus far.
The geochemical survey, combined with prospecting and geological mapping, is intended to lead to drill target generation at the Heart zone, and may result in further discoveries within the 3,108-ha property.
Message from the President
“This is a step in the right direction for Trailbreaker and the project. I believe the Castle Rock area has been overlooked in the past and remains considerably underexplored. Given the property’s association with large, district-scale structures and open-ended anomalies, Castle Rock has the potential to be rapidly expanded into a significant gold prospect.”
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.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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.
July 31, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce it has now added the 919-hectare (ha) Sheldon property, located in central Yukon, as part of its robust property portfolio.
The Sheldon property covers a “Reduced Intrusion Related Gold System” (RIRGS), located within the Tombstone Gold Belt of the Selwyn Basin. The Tombstone Belt is host to gold (Au)-bearing prospects and deposits including: Snowline Gold’s Valley discovery (e.g. 410.0 m @ 1.89 g/t Au)1; Kinross Gold’s Fort Knox mine (10 million ounces of gold, including past production)2 and Victoria Gold’s Eagle mine (4.3 million ounces of gold)3.
The property is located along the North Canol Road approximately 110 km northeast of the town of Ross River (Figure 1). The property has excellent infrastructure with road access within 800 m of the property boundary.
Highlights of the Sheldon Property
Located within the geologically fertile and highly prospective Tombstone Gold Belt of the mining‑friendly Yukon Territory;
Road accessible via the North Canol Road, approximately 110 km northeast of Ross River;
Historic rock samples assayed up to 17 g/t Au;
Reduced-Intrusion Related Gold System (RIRGS) style mineralization evident on the property, with many characteristic RIRGS geological features;
Underexplored, with a number of strong geochemical and geophysical targets identified;
100% owned by Trailbreaker Resources, with no underlying payments or royalties.
Figure 1: Location of the Sheldon property within the Tombstone Gold Belt and the Selwyn Basin.
Exploration Potential
The Sheldon property is underexplored and has undergone only short surface sampling campaigns between the early 1990s and 2012.
A regional-scale Z-Axis Tipper Electromagnetic (ZTEM) survey was flown over a significant portion of the Selwyn Basin in 2008. This data was reprocessed by Condor Consulting in 20134 and made publicly available by the Yukon Geological Survey. The data from this survey shows magnetic and conductivity characteristics across the Sheldon property that are common in RIRGS deposits. These features include a high resistivity signature associated with the felsic intrusive rocks and magnetic high features surrounding the intrusions, associated with pyrrhotite‑bearing hornfelsed sedimentary rocks. Of particular interest are two magnetic ‘pimples’ within the claim boundaries that may reflect strongly hornfelsed rocks above a blind intrusion (Figure 2). As the highest grades of RIRGS mineralization commonly occur in upper portions of fertile intrusions, the potentially intact carapace in the northwest and southeast property areas highlight attractive exploration targets. Neither of these target areas have undergone any documented exploration .
Most geochemical sampling and mapping to date has been focused on the southern extent of the Sheldon Stock, where gold mineralization was first encountered. Although less geochemical coverage occurred along the northern flank of the stock, the more limited work revealed consistently elevated gold values from rock and soil sampling. Additionally, this area has the best correlation between gold (Au) and tellurium (Te), a robust pathfinder element for Au in RIRGSs. The spacing between sampling in this area is such that a significant deposit could occur between sample locations, based on the approximate footprint of other RIRGS deposits (Figure 3), including Snowline Gold’s Valley prospect.
Figure 2: ‘Magnetic’ pimples highlighted in yellow where strongly hornfelsed sedimentary rocks may overlie blind intrusive centers. No exploration work has been conducted on these targets. Low conductivity (high resistivity) features indicate the presence of an intrusive center at the Sheldon property, as confirmed from regional and local mapping.
History
Gold-bearing quartz veins were first recognized at Sheldon by the Geological Survey of Canada (GSC) in 1944. In 1990, a regional stream sediment survey conducted by the GSC highlighted multiple drainages with anomalous arsenic and antimony.
The work conducted by the GSC, along with the then-recent discovery at Dublin Gulch (now Victoria Gold’s Eagle Mine) in Yukon, resulted in the initial staking of the property in 1991. Between 1991-1993, surface rock and soil geochemical sampling, as well as geological mapping, were completed, targeting Fort Knox style mineralization. Rock chip samples from this work returned assays as high as 6.17 g/t Au 5, from quartz veining in the granitic Sheldon Stock (Figure 3).
The claims were restaked in 2011, followed by a short prospecting and sampling program conducted in 2012. Rock samples from this program graded up to 2.08 g/t Au 6.
Since 2012, no work has been completed on the property. The Sheldon block is a legacy property originally held by Goldstrike Resources Ltd. Trailbreaker owns 100% of the property with no underlying payments or royalties.
Figure 3: Gold in soil and rock samples overlain on mapped geology of the Sheldon property. Gold shows a strong correlation with the granitic stock and locally the hornfelsed sedimentary rocks. White dashed ellipsoid indicates 1 km x 1.2 km area with limited sampling and elevated Au-Te values in surrounding samples.
Geology
The Sheldon property is centered on the mid-Cretaceous Sheldon stock, a member of the Tombstone Gold Belt intrusive suite emplaced within the Selwyn Basin of Yukon. The Sheldon stock is described as a polyphase biotite granitic to granodioritic intrusion, emplaced during a regional extensional event coincident with emplacement of the Tombstone intrusive suite. Gold mineralization is associated with quartz and arsenopyrite veining within the Sheldon Stock, as well as in hornfelsed sedimentary rocks surrounding the stock.
The Sheldon property displays many classic features of RIRGS deposits 7, including, but not limited to:
Sheeted quartz veins hosted in a mid-Cretaceous granite;
Intrusive rocks with biotite>hornblende, indicating volatile content of the intrusion;
Constrained size of intrusive stock is favourable for hosting RIRGS;
Typical geophysical characteristics (resistivity high and magnetic high around stock) of a felsic intrusion surrounded by a hornfelsed aureole in sedimentary rocks
Future work recommendations
Additional geochemical sampling and geological mapping is recommended to be completed over areas of low sample density, particularly where magnetic ‘pimples’ occur in the northwest and southeast of the property. This is also recommended to be done along the northern margin of the Sheldon Stock, where a strong Au-Te association is observed.
A higher-resolution magnetic survey will aid in further defining the hornfelsed alteration zone and granitic intrusive boundaries.
Follow-up drill testing should focus on the most prospective geological and geochemical targets to test for bulk‑tonnage RIRGS mineralization in the vertical dimension.
Message from the President
“Adding the RIRGS Sheldon property to our portfolio greatly increases our exposure to potential significant gold discoveries within the exciting Tombstone Gold Belt, with no additional cost to the shareholders. With the recent discoveries by Snowline Gold, which have resulted in an enhanced understanding of the Yukon-based RIRGS systems, we have re-evaluated this target. We are impressed with the similarities, even at this early stage. We feel that the geological characteristics of this project suggest that there is potential for multiple mineralized zones to occur, associated with the Sheldon Stock complex, within our existing claim boundaries.”
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.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681‑1820 or at info@trailbreakerresources.com.
July 11, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce that it has mobilized to the Golden Sable property in south-central British Columbia (BC) for its 2023 surficial exploration program. Efforts will be focused on extending the known 3-kilometre-long gold-in-soil anomaly that remains open to the southeast (see Figure 1 and May 29, 2023 news release).
The 2,568-hectare Golden Sable property is located 75 km northeast of Kamloops, BC, and 20 km south of Bridge Lake, BC. It is easily accessible via Highway 24 and the Bonaparte Forest Service Road. Golden Sable comprises two claim blocks, the Golden Sable (GS) East and GS West blocks, which are spaced 1.7 kilometres apart. The blocks are separated by ground held by a third party (see Figure 2).
The Golden Sable property covers an intrusion-related gold target. The claims lie within the Quesnel tectonic terrane that hosts many of British Columbia’s active and past-producing gold mines. Middle to Upper Triassic Nicola Group volcanics and sedimentary rocks comprise the majority of the underlying bedrock geology. The property also straddles the margins of a large, early Jurassic hornblende-biotite granodiorite pluton with prevalent younger mafic and andesitic dikes.
From 2006 to 2013 Amarc Resources delineated the 3-kilometre-long soil anomaly on the GS West block, which was subsequently drill tested by Sable Resources in 2018.
The inaugural, 1,339-metre drill program conducted by Sable Resources on the GS West block encountered gold mineralization in 5 of 7 drill holes. Results include an intersection of 0.83 g/t gold over 24.0m, including 2.4 g/t gold over 4.0m. Gold mineralization was found to be associated with mafic and intermediate dike swarms trending northwest – southeast along the granitic contacts.
No follow-up drilling has been conducted to date, and the majority of the gold-in-soil anomaly remains untested. The recent construction of both firebreak and logging road networks since the 2018 drilling has exposed a significant amount of bedrock. The 2023 exploration program will also include channel sampling on newly exposed outcrops where warranted, geological mapping, and prospecting.
Figure 1: Geochemistry of the Golden Sable West block.
Figure 2: Location of the Golden Sable property.
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.
OTHER
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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.
June 29, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce that it has completed the maiden diamond drill program at its 100%-owned Eakin Creek gold property in south-central British Columbia (BC).
The drill program consisted of 2,039 metres (of a planned 2,000 metres) across eleven diamond drill holes. Drilling commenced on May 24th, 2023 and was completed by June 20th, 2023. The drill holes covered 750 metres of strike length and 800 metres across strike (see Figure 1). The NQ-sized drill core was logged and split on-site by Trailbreaker personnel and sent to Bureau Veritas in Vancouver, BC for analysis.
The program was designed to test coincident induced polarization (IP) and geochemical anomalies outlined during the 2022 exploration program (see September 14, 2022 news release), as well as the numerous surficial gold showings found within these anomalies.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: “This was a very well executed program and provided great coverage of our target area. The drill program went over the planned meterage and stayed under budget. I would like to thank our drill contractor, Paycore Drilling, for helping achieve our goals at Eakin Creek.”
All assay results remain pending.
About Eakin Creek
The Eakin Creek property is located 100 kilometres north of Kamloops, BC and can be accessed via Highway #24 and by well-maintained forest service roads (see Location map). The claims cover 1,610 hectares of prospective ground that drains into placer gold-bearing Eakin Creek.
The target was initially acquired due to: the historic ‘G Occurrence’ found on the highway in one of the few exposed outcroppings on the property, a field of gold-bearing boulder samples (inferred to be local), and a grouping of some of the highest gold-in-till values from regional till sampling in BC.
During 2022, Trailbreaker performed a 10.75 line-kilometre IP survey, a 302-sample Mobile Metal Ion (MMI) soil survey, and prospecting. A 1,000 x 600-metre area was defined as having an Au-Ag-Cu-Sb (gold-silver-copper-antimony) soil anomaly coincident with an IP geophysical anomaly. Also, widespread gold mineralization in bedrock and float samples was identified. The 2023 drill program was designed to thoroughly test this area.
Figure 1: Drill collar locations at Eakin Creek.
For more details and maps on Eakin Creek see the dedicated section on Trailbreaker’s website.
Message from the President
“Trailbreaker is the first company to drill the Eakin Creek property and we are excited to see what the results will bring. We will ideally have assay results from the drill program in the coming weeks and will compile and analyse them upon receipt. Trailbreaker still has a busy exploration season ahead and a full work schedule planned on several other projects. We look forward to sharing our advancements as they come.”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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.
June 12, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the signing of an option agreement with Vizsla Copper Corp. (“Vizsla Copper”) for a portion of Trailbreaker’s Eagle Lake property.
The Eagle Lake property borders Vizsla Copper’s Woodjam copper-gold porphyry project. The option deal includes four of the fourteen claims comprising Eagle Lake. The four claims account for 6,482 hectares (ha) of the 19,000 ha property (see Figure 1).
Daithi Mac Gearailt, CEO of Trailbreaker, commented: “We are very pleased to come to an arrangement with Vizsla Copper. This is a win-win deal: Vizsla gets to acquire and explore ground to expand their Woodjam project, while Trailbreaker retains the Moffat zone area where we have outlined a significant gold-copper zone.”
Vizsla Copper acquired the Woodjam project in late 2022 from Consolidated Woodjam Copper Corp. Shortly after the acquisition, Vizsla flew a large-scale airborne magnetic survey and has since been identifying targets for an extensive drill program.
Trailbreaker Resources acquired the Eagle Lake property in early 2022 due to its historic drill results (including the 2011 intercept of 3.52 g/t Au over 9.9m in DDH MOF-5), local geological setting, and position between the Woodjam deposit and Engold’s Lac La Hache deposits.
During the summer of 2022, Trailbreaker completed a 432-sample MMI (Mobile Metal Ion) soil survey designed to cover the historic drill showings (see September 6, 2022 news release). The survey identified an 850 x 700 metre Au-Cu-Ag-Mo (gold-copper-silver-molybdenum) anomaly which covers DDH MOF-5 and extends east and north into an area without documented historic drilling (see MMI soil anomaly map).
The exploration team also 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 252 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.
Figure 1: Trailbreaker and Vizsla Copper claims with the optioned ground.
Terms of the option agreement
Vizsla Copper has the option to acquire a 100% interest in the four claims by issuing an aggregate of 400,000 common shares to Trailbreaker over three years.
The optioned claims are subject to a 2% NSR (Net Smelter Return royalty). Trailbreaker and Teck Resources Limited will retain a 1% NSR each on three of the claims and Trailbreaker will retain a 2% NSR on the fourth claim. Half of the 1% NSR may be bought from Trailbreaker for $500,000. Half of the 2% NSR may be bought from Trailbreaker for $1,000,000.
More about the Eagle Lake property
Located 55 km east of Williams Lake, BC, the Eagle Lake property was generated by Trailbreaker in early 2022 through an agreement with Teck Resources Limited, combined with additional claim staking (see May 18, 2022 news release). The property covers 19,000 hectares that are accessible by an extensive network of well-maintained forest service roads. It is situated directly adjacent to Vizsla Copper Corp.’s Woodjam Cu-Au (copper-gold) porphyry project (see Geology Map, Location Map, and Overview Map).
Trailbreaker’s claims are situated within the Quesnel terrane which hosts several of BC’s large-tonnage copper-gold porphyry deposits. These include: New Gold’s Afton mine, Imperial Metals’ Mount Polley mine, Taseko Mines’ 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.
Message from the President
“We are very excited to be working with Vizsla Copper while retaining the target that originally brought us to this area. On top of this, there is still a significant amount of unexplored ground in this extremely prospective locale. We have more exciting updates to come, so as always, stay tuned!”
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.
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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 dat
May 30, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to provide an update on the Golden Sable property in south-central British Columbia (BC).
Located 175 kilometres north of Kamloops, BC, the Golden Sable property covers 2,568 hectares in two separate claim blocks. The claim blocks are 1.7 kilometres apart, with the ground in between held by a third party (see Figure 1).
The west block (GS West, 990 ha) of the Golden Sable property hosts a historic 3-kilometre-long gold-in-soil anomaly that remains open to the southeast (see May 29, 2023 news release) while the east block (GS East, 1,578 ha) displays similar geology and regional geochemistry as the west. One historic drill program was completed on GS West during 2018. The program consisted of 1,339 metres of drilling which included an intersection of 0.83 g/t gold over 24 metres.
Trailbreaker has acquired both parcels through an option deal with Cordilleran Properties as well as additional staking.
Trailbreaker may obtain 100% interest in the Golden Sable property by making payments of $205,000 to Cordilleran Properties as follows:
upon the Effective Date (May 25th, 2023) $15,000;
on or before the first anniversary of the Effective Date $30,000;
on or before the second anniversary of the Effective Date $60,000; and
on or before the third anniversary of the Effective Date $100,000.
Trailbreaker will grant Cordilleran Properties a 1% NSR which may be bought back for $500,000.
The Company is currently planning a 2023 Phase 1 surficial exploration program to thoroughly evaluate both claim blocks.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Figure 1: Trailbreaker’s Golden Sable project.
OTHER
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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.
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