October 4th, 2021 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce results from the 2021 exploration program at their 100%-owned Skelly property in northern British Columbia (BC).
A chip sample across a historic showing re-identified by Trailbreaker in 2020 has returned an assay of 25.4 g/t gold (Au) and 882 g/t silver (Ag) over 1.5m. Further prospecting 200 meters to the west of the historic showings has identified a new gold zone, with outcrop grab samples assaying up to 3.43 g/t Au and 78.3 g/t Ag. Soil sample results indicate the zone extends at least another 250m farther west and remains open (see attached map – Skelly Property Exploration Highlights).
Daithi Mac Gearailt, CEO of Trailbreaker, commented: “The chip sample results confirm the high-grade nature of the historic showing that the team re-identified last year. It is also very encouraging that new mineralization has been found in the area and the soil samples show there is potential for more to be discovered.”
About Skelly
Covering 2,526 hectares, the Skelly property is located just south of the Yukon-BC border, approximately 100 km south of Whitehorse, Yukon.
The property is contiguous to Bessor Minerals’ 8,178-hectare Golden Eagle property that contains significant drilled gold prospects comprising high-grade, gold-bearing quartz-sulphide veins. Although exploration on the Skelly property dates back to the 1890s, old shafts provide the only evidence of past work. Before 2020, no modern exploration has been documented on the majority of the Skelly property.
In the summer of 2020, Trailbreaker conducted a short, 3-day first pass reconnaissance exploration program that re-identified historic shafts. Grab samples obtained from quartz veins within these assayed up to 1.03 oz/ton gold and 14.24 oz/ton silver (see October 5th, 2020 news release for more information). The auriferous quartz veins were sampled over a 180-meter northwest-trending shear zone, open along strike and paralleling a contact with granitic rocks.
2021 Exploration
A brief, two-day exploration program was conducted at the Skelly property in 2021 to follow-up on 2020 assay results, and to explore a portion of newly staked ground. The team collected 111 soil samples, 28 prospecting rock grab samples, and one rock chip sample.
The chip sample was conducted across the previously identified historic showing and returned an assay of 25.4 g/t Au and 882 g/t Ag over 1.5m. A grab sample located 3 meters from the chip sample also yielded high gold and silver grades, assaying 22.4 g/t Au and 1,147 g/t Ag. Mineralization related to this historic showing has been traced along strike for 180 meters to the northwest. It is interpreted to be related to a shear zone at the contact between late Cretaceous granite to the southwest, and older, late Paleozoic metamorphic rocks to the northeast.
Newly identified mineralization was discovered 200m west-southwest of the historic showings in a deeply incised creek canyon which also cuts through the high-grade shear which hosts the historic showings. Multiple ‘stacked’ quartz-pyrite-arsenopyrite veins were identified. These veins are typically shallow dipping to flat lying, and 20-30cm in width. Assays returned grades as high as 3.43 g/t Au and 78.3 g/t Ag with anomalous molybdenum (Mo), copper (Cu), lead (Pb), arsenic (As), antimony (Sb), bismuth (Bi), and tellurium (Te).
Soil sample results indicate that the gold mineralization discovered in this zone likely extends westward along the creek for a minimum of 250m and remains open. A series of four soil samples over 150m assayed anomalous gold values ranging from 24.1 ppb Au to 65.6 ppb Au.
Prospecting 1.5 km northwest of the high-grade gold zone has also uncovered a zone of gossanous shears in metamorphic rock close to the granite contact. One rock grab sample of local pyritic float returned an assay of 0.21 g/t Au.
A significant portion of the 2,526-hectare property remains un-explored.
Message from the President
“In two short days of exploration the Trailbreaker team has managed to both expand the mineralized zone and yield new targets for future exploration. There is a lot of blue sky at the Skelly property and I am excited to see what we’ll find next.”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
OTHER
Sample analysis and assaying for all of Trailbreaker’s projects have been conducted by Bureau Veritas Mineral Laboratories Canada in Vancouver, BC, which is an ISO-9001 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 samples were sieved to 80 mesh (prep code SS80) and underwent a 37-element analysis involving aqua regia digestion and ICP-ES/MS analysis (AQ201).
Rigorous quality assurance procedures are in place regarding sample collection, chain of custody and data entry. Certified QA/QC standard and blank reference samples are routinely inserted into the sample stream to ensure integrity of the assay process. The reader is cautioned that grab samples are single rock samples 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.
June 14th, 2021 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the mobilization of its exploration team to its 100%-owned Atsutla Gold project, located in northwestern British Columbia (BC).
This Phase 1 program will involve reconnaissance and detailed geochemical soil sampling, prospecting, and geological mapping at both the Willie Jack and Swan properties which comprise the Atsutla Gold project. The Company intends to thoroughly follow-up on the high-grade discoveries made at Willie Jack in 2020 as well as explore newly staked ground. In addition to this, the team will re-examine the historic exploration and drilling done at the Swan property, with a renewed focus on gold mineralization.
The Atsutla Gold project covers over 23,000 hectares and is located 70 km south of the Yukon-BC border and 130 km northwest of the community of Dease Lake, BC.
Willie Jack
In March of 2020, the Trailbreaker team generated the Willie Jack target and conducted a first pass reconnaissance program. The program lead to the discovery of widespread gold mineralization across 6 kilometres, with rock grab samples assaying up to 164 g/t (4.78 oz/ton) gold (Au) and soils sample results exceeding 800 ppb (0.8 g/t) Au (see Willie Jack news release dated October 19th, 2020). Rock grab samples also returned assays up to 257 g/t silver (Ag) and 1.7 % copper (Cu). The mineralization discovered to date is related to the Mesozoic intrusive batholiths that comprise the Atsutla mountain range, and shares characteristics of both Cu-Au porphyry-type and intrusion-related gold deposits.
Swan
Due to the success of the first pass results at the Willie Jack property, Trailbreaker generated and staked the Swan property which now covers over 13,000 hectares (see Swan news release dated March 22nd,2021). The Swan claims cover a historical molybdenum (Mo) porphyry prospect that was discovered in the late 1960s and periodically explored during the past 50 years. Despite more than 500 soil and rock surface samples and almost 1,000 meters of shallow diamond drilling, no geochemical analysis for gold was ever completed. Historical geological mapping and drill hole logs have shown a complex intrusive system with widespread quartz-feldspar porphyritic monzonite cut by a variety of felsic and mafic dikes.
Molybdenite-pyrite mineralization is closely associated with sheeted quartz veins, quartz stockwork and breccia zones. The historical drilling at Swan intersected broad, low to mid-grade molybdenite mineralization, returning up to 0.06% Mo over 73m, as well as several significant silver intercepts including >26 g/t Ag over 3 meters.
Historical work also included a detailed soil geochemical survey completed in 2007 which outlined a large, open-ended copper-silver-arsenic (Cu-Ag-As) soil anomaly that lies outside of the drilled Mo prospect. Furthermore, a 1972 induced polarization (IP) survey outlined a chargeability anomaly which coincides with this soil anomaly and has been interpreted to potentially represent a pyrite halo above a buried porphyry system.
Trailbreaker’s team has concluded that the Swan and Willie Jack property areas were previously overlooked for gold potential, due to low gold prices at the time.
Message from the President
“The Trailbreaker team and myself are excited to get back into the field. After a winter of project planning, we are confident we will be able to expand upon our recent gold and copper discoveries, and also find new mineralization in this highly prospective area. Stay tuned for further news from Trailbreaker.”
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/TrailbreakerRes, 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.
May 12, 2021 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce that it has received TSX Venture Exchange approval to close their private placement financing consisting, previously announced May 4, 2021, for total gross proceeds of $1,048,610.
The Company will now issue 800,000 non-flow-through Units for gross proceeds (the “Units”), each $0.25 Unit priced consisting of 1 common share of the Company and 1 common share purchase warrant (the “Unit Warrants”), each Unit Warrant being exercisable for an additional common share of the Company at $0.39 for 24 months from closing, subject to the right of the Company to accelerate the exercise period should, after the expiration of the 4 month hold, shares of the Company trade close at or above $0.59 for 10 consecutive trading days. Proceeds of this portion of the financing will be used for general corporate purposes, that may include corporate development and property acquisition.
The Company will also now issue 2,424,600 flow-through units (the “FT Units”), each $0.35 FT Unit consisting of 1 flow-through share and 1 common share purchase warrant (the “FT Unit Warrants”), each full FT Unit Warrant being exercisable at $0.49 for a common share of the Company for 24 months. The flow-through shares will entitle the holder to receive tax benefits applicable to flow-through shares in accordance with the provisions of the Income Tax Act (Canada). Proceeds of the financing will be used to advance Trailbreaker’s newly assembled Atsutla Gold Project in the province of British Columbia.
All securities issued pursuant to this financing are subject to a 4-month hold period., such hold expiring September 14, 2021.
Cash finders’ fees totaling $52,117 are being paid to various finders.
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/TrailbreakerRes, 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.
May 4th, 2021 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce that, subject to regulatory approval, it has closed their private placement financing consisting of Hard Dollar Units and Flow-Through Units, for total gross proceeds of $1,048,610, an increase of $48,610 more than originally anticipated. Both offerings received support from strategic accredited investors.
The Company has closed on 800,000 non-flow-through Units for gross proceeds of $200,000 (the “Units”), each $0.25 Unit priced consisting of 1 common share of the Company and 1 common share purchase warrant (the “Unit Warrants”), each Unit Warrant being exercisable for an additional common share of the Company at $0.39 for 24 months from closing, subject to the right of the Company to accelerate the exercise period should, after the expiration of the 4 month hold, shares of the Company trade close at or above $0.59 for 10 consecutive trading days. Proceeds of this portion of the financing will be used for general corporate purposes, that may include corporate development and property acquisition.
The Company has also closed on 2,424,600 flow-through units for gross proceeds of $848,610 (the “FT Units”), each $0.35 FT Unit consisting of 1 flow-through share and 1 common share purchase warrant (the “FT Unit Warrants”), each full FT Unit Warrant being exercisable at $0.49 for a common share of the Company for 24 months. The flow-through shares will entitle the holder to receive tax benefits applicable to flow-through shares in accordance with the provisions of the Income Tax Act (Canada). Proceeds of the financing will be used to advance Trailbreaker’s newly assembled Atsutla Gold Project in the province of British Columbia.
All securities issued pursuant to this financing are subject to a 4-month hold period.
On receipt of regulatory approval and in accordance with the policies of the TSX Venture Exchange, cash finders’ fees totaling $50,016.90 will be paid.
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/TrailbreakerRes, 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.
March 24th, 2021 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the granting of stock options to Mr. Frank Wheatley.
Mr. Wheatley was elected by the shareholders as Independent Director at the 2020 Annual General Meeting (AGM) and appointed by the Board as Chairman of the Audit Committee for Trailbreaker Resources Ltd.
The company has granted Mr. Wheatley 150,000 incentive stock options exercisable at a price of $0.30 per share for a term of five years expiring March 24th, 2026, vesting immediately. The options are granted in accordance with the Company’s stock option plan and as set forth by TSX Venture Exchange (“TSX-V”) policy and are subject to all regulatory approvals.
Mr. Wheatley is a senior executive and legal counsel with more than 35 years of international business, financial and legal experience with Canadian public mining companies operating globally in precious, base, and industrial metals. He has extensive experience as a Chief Executive Officer and General Counsel for a number of TSX-listed companies, as well as domestic and international experience with exploration, development and operating gold, copper, lithium and potash companies.
Mr. Wheatley also brings extensive experience as an Independent Director, Committee Chair, and Committee Member for a number of Canadian public mining companies. He is currently an Independent Director of Endeavour Mining Corporation – a top 10 global gold producer with 7 operating mines in West Africa.
New Trailbreaker Resources website and presentations
Trailbreaker Resources’ new company website can be found at www.TrailbreakerResources.com. An updated corporate presentation, presentations for each of Trailbreaker’s properties, as well as photos, maps and more, can be found there. See below for further contact details and social media links.
Message from the President “I am delighted to have Frank Wheatley on the Trailbreaker team. Frank brings a wealth of mining industry and legal experience with him that I know will prove to be of great benefit to the Company moving forward.”
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/TrailbreakerRes, 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.
March 22nd, 2021 – Trailbreaker Resources Ltd. (TBK.V) (Trailbreaker) is pleased to announce the recent staking of the Swan property in northwestern British Columbia (BC) and its inclusion in the newly formed Atsutla Gold Project.
The Swan property covers a historically drilled molybdenum porphyry prospect that has never been assayed for gold. It is situated just 20 km northeast of the recent high-grade gold discoveries at Trailbreaker’s Willie Jack property. Together, the Willie Jack and Swan properties form the 100%-owned Atsutla Gold Project, covering over 14,000 hectares of ground. The project, named after the Atsutla mountain range, is located 70 km south of the Yukon-BC border and 130 km northwest of Dease Lake, BC.
Willie Jack
In March of 2020, the Trailbreaker team generated the Willie Jack target and conducted a first pass reconnaissance program. The program lead to the discovery of widespread gold mineralization across 6 kilometres with rock grab samples assaying up to 164 g/t (4.78 oz/ton) gold (Au) and soils sample results exceeding 800 ppb (0.8 g/t) Au (see Willie Jack news released dated October 19th, 2020). Rock grab samples also returned assays up to 257 g/t silver (Ag) and 1.7 % copper (Cu). The mineralization discovered to date is related to the Mesozoic intrusive batholiths that comprise the Atsutla mountain range, and shares characteristics of both Cu-Au porphyry-type and intrusion-related gold deposits.
Swan Due to the success of the first pass results at the Willie Jack property, Trailbreaker generated and staked the Swan property which covers almost 4,300 hectares. The Swan property is 100%-owned by Trailbreaker, with no underlying payments or royalties. The Swan property overlies the regional scale Teslin-Thibert strike-slip fault system that extends over 700 km across the Yukon Territory and BC and marks the boundary between the Quesnel and Cache Creek terranes.
The Swan claims cover a historical molybdenum (Mo) porphyry prospect that was discovered in the late 1960s and periodically explored during the past 50 years. Despite more than 500 soil and rock surface samples and almost 1,000 meters of shallow diamond drilling, no geochemical analysis for gold was ever completed. Historical geological mapping and drill hole logs have shown a complex intrusive system with widespread quartz-feldspar porphyritic monzonite cut by a variety of felsic and mafic dikes. Molybdenite-pyrite mineralization is closely associated with sheeted quartz veins, quartz stockwork and breccia zones. The historical drilling at Swan intersected broad, low to mid-grade molybdenite mineralization, returning up to 0.06% Mo over 73m, including 0.97% Mo over 19m, as well as several significant silver intercepts including >26 g/t Ag over 3 meters.
Historical work also included a detailed soil geochemical survey completed in 2007 which outlined a large, open-ended copper-silver-arsenic (Cu-Ag-As) soil anomaly that lies outside of the drilled Mo prospect. Furthermore, a 1972 induced polarization (IP) survey outlined a chargeability anomaly which coincides with this soil anomaly and is interpreted to potentially represent a pyritic halo above a buried copper porphyry deposit.
Trailbreaker’s team believes the Swan and Willie Jack property areas were previously overlooked for gold potential due to low gold prices at the time. Trailbreaker plans to conduct a thorough first-pass evaluation program in 2021.
Atsutla Gold Project The Willie Jack and Swan properties represent Trailbreaker Resources’ investment in an underexplored area of British Columbia which has been historically overlooked for district-scale gold mineralization. To consolidate exploration plans, Trailbreaker has termed this area the “Atsutla Gold Project”.
Geologically, the project is centered on the regional-scale crustal Teslin-Thibert fault system marking the boundary between the Quesnel and Cache Creek tectonic terranes. The Quesnel terrane hosts numerous Cu-Au porphyry deposits along the length of British Columbia, including the Copper Mountain, Highland Valley, New Afton, Mount Polley, Mount Milligan, and Kemess deposits and mines. The Cache Creek terrane hosts a variety of mineralization styles, and includes the Gibraltar Cu-Mo-Au porphyry deposit.
The combination of this favourable geologic setting with the recent gold discoveries by Trailbreaker at Willie Jack, supported by historic Mo porphyry results at Swan and widespread placer gold documented in the project area, indicates strong potential for multiple styles of gold mineralization.
New Trailbreaker Resources website and presentations Trailbreaker Resources’ new company website can be found at www.TrailbreakerResources.com. An updated corporate presentation, presentations for each of Trailbreaker’s properties, as well as photos, maps and more, can be found there. See below for further contact details and social media links.
Message from the President “The Trailbreaker team has identified an area with untapped potential and, in under one year, has brought forth encouraging results and compelling evidence that the Atsutla Gold Project area can be developed into a new gold district. We are greatly looking forward to exploring the new ground at the Swan property and seeing what historical work may have been missed. At the same time, we will be exploring and advancing our Plateau, Willie Jack, Skelly, and McMurdo properties and closely following our royalties in our third-party projects that are being drilled this year.”
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/TrailbreakerRes, 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; and the plans for completion of the contemplated transactions with Newmont as set out above. 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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