September 22, 2022 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) announces that subject to all regulatory approvals, it has reduced the exercise price of 3,224,600 common share purchase warrants (the “Warrants”) to $0.25. The Warrants were issued pursuant to the following private placement financing:
May 12, 2021 800,000 share purchase warrants exercisable at $0.35 and 2,424,600 share purchase warrants exercisable at $0.49
The Company has also applied to extend the exercise period of all of the Warrants to May 12, 2024.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
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.
September 14, 2022 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the results of the Phase 1 exploration program at its 100%-owned Eakin Creek property in south-central British Columbia (BC). A 1,000 x 600-metre area has been defined as having a gold-in-soil anomaly coincident with an Induced Polarization (IP) geophysical anomaly. Also, widespread gold mineralization in bedrock and float samples was identified.
The 2022 program utilized multiple exploration tools including:
A 302-sample Mobile Metal Ion (MMI) soil survey,
A 10.75 line-kilometre IP survey,
Reconnaissance prospecting and geological investigation.
The MMI survey defined a 1,000 x 600 metre Au-Ag-Cu-Sb (gold-silver-copper-antimony) anomaly that is open to the south. This anomaly is coincident with resistivity and chargeability anomalies defined by the IP survey, which is strongest at 50 to 100m of depth.
Prospecting has identified gold-bearing mineralization hosted by two main lithologies (expanded upon below), with the majority of mineralized samples occurring within the geochemical and geophysical anomalies. Grab samples from bedrock returned assay values up to 8.2 g/t Au and 130 g/t Ag from separate outcrops more than 1 km apart.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: “When Trailbreaker generated the Eakin Creek target earlier this year, it had all the indications for discovery potential: some of the highest gold-in-till values from regional till sampling in BC, high-grade rock float samples, and a compelling historic chip sample taken along the highway cut. We looked at which exploration techniques were missing, and what tools we could use to vector in to large mineralized systems potentially hidden under the till. Combining two common exploration tools that had never been done here – MMI and IP – along with Trailbreaker’s seasoned prospectors, we now have the data and results to confidently plan an exploratory drill program at Eakin Creek.”
Gold mineralization at the Eakin Creek property was found to be hosted in two distinct lithologies:
An altered diorite unit with disseminated pyrite and quartz-carbonate-pyrite veining (Photo 1). This unit outcrops along Highway #24 which bisects the property. Assays from outcrop grab samples returned values up to 2 g/t Au and 17.0 g/t Ag from the vicinity of the historic ‘G Occurrence’. Grab samples from an outcrop located 1.0 km east-northeast of the G Occurrence (outside of the bounds of the IP survey) returned assays up to 1.1 g/t Au and 130 g/t Ag. The dioritic lithology is host to abundant quartz-calcite veining along multiple orientations. Disseminated pyrite occurs throughout the wallrock, as well as in the veins. This diorite unit is part of the early Jurassic Polaris ultramafic suite. It is bound to the west by a fault contact with similarly-aged granites of the Thuya Batholith (see Geology map).
A limonitic felsic intrusive unit with disseminated and massive pyrite (Photo 2). This rock type has not been observed in the very limited outcrop exposure on the property; rather it is most commonly found within a boulder field approximately 400 x 300 metres in area. Grab samples from this lithology returned assay values up to 6 g/t Au and 30.7 g/t Ag (from separate samples), with six samples assaying >1.0 g/t Au. This boulder field is located ‘down-ice’ (along the direction of documented glacial ice flow) of the zone of highest resistivity identified from the IP survey (see Figure 1 below, or click link). As this felsic lithology would likely have a more resistive signature than the dominant diorite lithology, Trailbreaker geologists have determined the strongly resistive zone to be a likely source of these mineralized boulders.
Prospecting also uncovered a third, less common style of gold mineralization: quartz boulders bearing galena, chalcopyrite, and pyrite. These boulders were limited to a 5-metre area and are sub-rounded in shape. Assays returned values up to 4.2 g/t Au and 50.1 g/t Ag.
Photos 1 (left): Disseminated pyrite within a diorite unit outcropping along the highway. Assays returned values up to 8.2 g/t Au and 130 g/t Ag. Photo 2 (right): Limonitic felsic intrusive float with up to 10% pyrite. This unit is found as float within a 400x300m boulder field. Assays from the felsic rock returned values up to 5.6 g/t Au and 30.7 g/t Ag.
The highest gold grades occurring within the diorite unit were found 90m northwest of the historic ‘G Occurrence’, which consists of a 3.0 m chip sample interval grading 3.15 g/t Au, within a 14.0 m interval grading 0.9 g/t Au.
Despite the historic mineral occurrences and its proximity to infrastructure, the Eakin Creek property has never been drilled. A permit application to conduct a drill program has been submitted to the BC EMLI (Ministry of Energy, Mines and Low Carbon Innovation) and is pending approval. Trailbreaker geologists are currently planning drill targets at three areas of heightened interest:
The historic “G Occurrence” and associated mineralized outcrops
The zone of strongest chargeability and resistivity (north of Highway #24)
The felsic intrusive boulder field and strongest soil geochemical gold anomaly
Figure 1: Eakin Creek property IP and geochemical results. Resistivity and chargeability at 50m (left) and gold in soil (right) with overlaid rock grab sample. Link to full size.
More about the Eakin Creek property
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 property covers 1,610 hectares of prospective ground that drains into placer gold-bearing Eakin Creek. The property lies in an underexplored portion of the Quesnel tectonic terrane which hosts many of BC’s producing copper and gold mines, such as the New Afton, Ajax, Mt Polley, Highland Valley, and Copper Mountain mines. The claim package is 100%-owned by Trailbreaker Resources with no underlying royalties or payments.
A regional-scale till sampling survey conducted by the Geological Survey of Canada has shown that this underexplored portion of the Quesnel terrane has an anomalous Cu-Au-As-Mo geochemical signature that is indicative of copper porphyry environments elsewhere in BC. Furthermore, some of BC’s highest gold grain-count values are recorded from till samples from the Eakin Creek property (see Regional Till Survey map).
Placer gold was first discovered in Eakin Creek in the late 1800s, with small scale placer mining occurring through to the 1940s. The hard rock source of the placer gold remained a mystery for over 100 years. Gold in bedrock was first discovered on the property in 1983 during the construction of Highway #24, with subsequent hard rock discoveries continuing through to the early 1990s.
Prospecting and trenching have proved difficult in the area due to widespread glacial till cover; however, the limited historical exploration completed to date has been successful in determining the sources of gold-in-soil anomalies. Numerous high-grade float rock grab samples have been obtained from surficial pits, assaying up to 2.60 oz/ton (89.13 g/t) Au and locally containing visible gold. Historic outcrop sampling returned a 3.0 m chip sample interval grading 3.15 g/t Au, within a 14.0 m interval grading 0.9 g/t Au (see Historic Rock Geochemistry map).
Until 2022, no IP surveys had been conducted on the property. No drilling has ever been conducted on the property.
For more details and maps on Eakin Creek see the dedicated section on Trailbreaker’s website.
Message from the President
“The Eakin Creek property has quickly become one of our most exciting assets. It’s all here: the gold, the access, and the infrastructure. The logical next step is to get some hard data from the subsurface. Stay tuned for further updates.”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
OTHER
Rock sample analysis and assaying were conducted by Bureau Veritas Mineral Laboratories Canada in Vancouver, BC, which is an ISO-17025 accredited laboratory. Rock samples were crushed, split and pulverized to a 250 g pulp passing through a 200-mesh screen (prep code PRP70-250). For gold analysis, a 50 g split underwent fire assay with an ICP-ES finish (FA350-Au). Samples assaying >10 ppm Au were re-analyzed with a gravimetric finish (FA550-Au). Samples also underwent 37-element analysis involving aqua regia digestion and ICP-ES/MS analysis (AQ200).
Soil sample analysis was conducted by SGS Laboratories Canada in Vancouver, BC which is an ISO-17025 accredited laboratory. Mobile Metal Ion (MMI) technology was used, analysing for 53 elements. Target elements were extracted using weak solutions of organic and inorganic compounds, rather than by conventional acid-based digestion. Analysis was done on a 50 g sample, and the extracted solution was analyzed by ICP-MS.
Trailbreaker Resources employs rigorous quality assurance procedures regarding sample collection, chain of custody and data entry. The reader is cautioned that grab samples are single rock samples that are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of metal values. These do not necessarily provide an accurate representation of the tenor of the targeted zone sampled.
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 date hereof or to reflect the occurrence of unanticipated events.
September 8, 2022 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the completion of the 2022 exploration program at its 100%-owned Atsutla Gold project, located in northwestern British Columbia (BC).
The program included detailed structural geological mapping at the four high-grade gold zones discovered and defined in 2021 with a focus on drill target generation, as well as continued first pass prospecting and soil sampling on newly staked claims.
A total of 330 soil samples and 220 rock grab samples were collected. All assays are currently pending. Prospecting efforts have led to the discovery of several new mineralized zones approximately 3.5 km northeast of the Highlands zone as well as 1.5 km northeast of the Christmas Creek zone. The mineralization is consistent with the high-grade gold veins at both the Highlands and Christmas Creek zones, primarily consisting of quartz-arsenopyrite-galena-pyrite veining and quartz-chalcopyrite-bornite veining. Additional arsenopyrite-rich mineralized outcrops were found at the Swan zone, and widespread quartz-arsenopyrite veining spanning 750m was discovered along a ridge 2 km west of the Swan zone.
Photos 1 and 2: New quartz-bornite-chalcopyrite mineralization 3.5 km NE of the Highlands zone (left) and quartz-pyrite-arsenopyrite breccia 1.5 km NE of the Christmas Creek zone (right).
Daithi Mac Gearailt, CEO of Trailbreaker, commented, “The continuing discoveries of mineralized zones at surface over multi-kilometric areas of scale is a true testament of how under-explored this region of British Columbia remains. Furthermore, I am confident the detailed geological mapping efforts completed at the main gold zones will help generate high quality drill targets, de-risking the inaugural drill program.”
About the Atsutla Gold Project
Trailbreaker’s 100%-owned Atsutla Gold project is located 70 km south of the Yukon-British Columbia border and 130 km northwest of the community of Dease Lake, BC. The project covers 40,057 hectares of ground with very limited historic exploration. The project represents a district-scale discovery in an under-explored area of British Columbia.
Exploration in 2021 included the discovery of widespread high-grade gold at the Highlands zone, with grab samples assaying up to 630 g/t (18.38 oz/ton) gold and 1,894 g/t (55.25 oz/ton) silver from separate samples(see September 13th, 2021 news release). The program also included the identification of four gold zones: the Highlands, Christmas Creek, Willie Jack, and Swan zones (see November 1st, 2021 news release) which span a distance of 28 kilometres. High-grade, vein- and wallrock-hosted copper mineralization has also been discovered in the Highlands, Christmas Creek, and Willie Jack zones, with grab sample assays up to 1.7% copper.
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 date hereof or to reflect the occurrence of unanticipated events.
September 6, 2022 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the completion and results of its Phase 1 exploration program at the Eagle Lake property in south-central BC (British Columbia).
The program included prospecting, geological reconnaissance mapping, and a 432-sample Mobile Metal Ion (MMI) soil geochemical survey covering a 3 x 3.5-kilometre area.
The MMI survey was designed to cover historic drill showings which include a drill intercept of 3.52 g/t Au over 9.9 metres (2011 drill hole MOF-5). The survey identified an 850 x 700 metre Au-Cu-Ag-Mo (gold-copper-silver-molybdenum) anomaly which occurs over MOF-5 and extends east and north into an area where there is no documented historic drilling (see MMI soil anomaly map).
During the 2022 program, the exploration team 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 253 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.
To further investigate the surficial expression of the auriferous fault zone observed in drill core at depth, a large-scale induced polarization (IP) survey is recommended for the area of the 2022 MMI soil survey, as well as further MMI soil sampling to the east and north. Permits to conduct the geophysical survey as well as drilling at Eagle Lake have been applied for.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: “Before Trailbreaker generated this target and consolidated the land package, these historic drill intersections had yet to be followed-up. We have now confirmed an extensive multi-element soil anomaly over the location of the highest-grade intercepts from previous drilling. Very little historic exploration has been done in this area, and given that the Woodjam copper-gold project lies just to the northwest, we see a lot of potential for growth here.”
Above: Multi-element MMI soil anomaly identified at Eagle Lake.
About the Eagle Lake property
Located 55 km east of Williams Lake, BC, the Eagle Lake property was recently generated by Trailbreaker through an agreement with Teck Resources Limited combined with additional claim staking (see May 18, 2022 news release). The property covers 18,990 hectares that are accessible by an extensive network of well-maintained forest service roads. It is situated directly adjacent to Consolidated Woodjam Copper Corp.’s Woodjam Cu-Au (copper-gold) porphyry project which hosts an inferred resource of 1.7 billion lbs copper and 968,100 oz gold (see Geology Map, Location Map, and Overview Map).
Trailbreaker’s claims are situated within the Quesnel terrane which is host to several of BC’s large-tonnage copper-gold porphyry deposits. These include: New Gold’s Afton mine, Imperial Metals’ Mount Polley mine, Taseko’s 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.
Results of limited historic exploration at the Eagle Lake property include a drill intercept of 3.52 g/t Au over 9.9 metres as well as numerous low-grade copper intercepts. A regional-scale till sampling program executed in 2019 demonstrated that anomalous gold-in-till values were returned from the southern portion of the Eagle Lake property hosting this drill hole.
Trailbreaker’s 2022 MMI soil survey was designed to cover the area of this drill hole and beyond, to potentially identify anomalous gold- and copper-in-soil trends that may have been overlooked in the past. Unlike conventional soil geochemical surveys, MMI analysis measures metal ions that travel upward from the bedrock and accumulate in the surface soil. This method is designed to potentially detect deeply buried mineralization and provide more focused targets for potential future drill programs.
Message from the President
“While the results of the 2022 program are very exciting, we still have an enormous amount of relatively un-explored ground to cover. The team and myself will be carefully planning the next steps at Eagle Lake in the coming months.”
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 date hereof or to reflect the occurrence of unanticipated events.
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