Pete

Vein Ag-Pb-Zn

Past Producer

1 claim ~21 ha

Cassiar Platform

Minfile: 105F 093

18526 Yukon Inc.’s Pete claim covers the “Higrade” discovery zone of the Groundhog Creek Ag-Pb-Zn system.  The surrounding ground was later staked by Strategic Metals, sold to Rockhaven Resources Ltd., and has recently been optioned to Silver Predator Corp.

More than just a feather in the cap of the overall property, however, the Pete claim overlies three of the most significant veins in the area: the Lucky, the PN and the Jill.  In 1988, a 52.56 tonne bulk sample from the PN vein was shipped to smelter in Trail, British Columbia, returning average grades of 4106.7 g/t silver, 72.65% lead, 0.56% zinc and 1.16% copper.  Later sampling of this material by 18526 Yukon Inc. returned comparable grades (3,755 g/t silver, 66.9% lead, 0.48% zinc and 1.25% copper).  Probable and drill indicated reserves on the PN, diluted to a minimum mining width of 1.22 m, are estimated at 3480 tons grading 13.74 oz/ton silver, 9.90% lead and 5.25% zinc, though the vein has not been closed off along strike or at depth.  The nearby Lucky-MF vein hosts another 8768 tons of possible, probable and drill-indicated reserves grading 5.45 oz/ton silver, 3.40% lead and 5.22% zinc.

Mineralization occurs as massive sulphides along vein faults through Siluro-Devonian dolostone, overlain by younger black shale, grit and conglomerate.  The property itself is situated in the Seagull uplift, a large and mineralized dome structure thought to overly a large, unexposed intrusive.

The Pete claim is 3 km from a 2WD offshoot of the South Canol road, and is directly accessible on a 4WD cat trail built to access the mineralized zone.