Printer Friendly

Canada : Parlane Acquires Copper-Gold Exploration Target in Central British Columbia.

Parlane Resource Corp. ("Parlane" or the "Company") is pleased to announce that it has entered into an option agreement (the "Agreement") with Piotr Lutynski and Divitiae Resources Ltd. (collectively the "Optionor") of Vancouver and Coquitlam, British Columbia, to acquire a 100% interest in 10 mining claims, more commonly known as the SAT Property, located in the Stikine Terrane of British Columbia.

Located in north-central B.C., approximately 50 km northeast of Smithers, southwest of Babine Lake and west of the town of Granisle, the SAT Property comprises 10 road-accessible claims covering approximately 4,260 hectares.

The SAT Property is located within prospective Stikine Terrane with known copper porphyry deposits including the historical Granisle and Berg mines as well as the Big Onion and Morisson deposits. The SAT property is considered a copper-gold-molybdenum porphyry target.

The SAT Property is underlain by Lower Jurassic Hazelton Group, Telkwa Formation volcanics consisting of massive, fragmental maroon to green andesite. This basal unit is conformably overlain by siltstones and shales which strike northwest and dip gently west. The Hazelton Group rocks are variably fractured and are hornfelsed on the contact with the intrusive rocks.

The volcanics are intruded by an Eocene Babine intrusion. Fine to medium-grained biotite-feldspar porphyries (thought to be the host of copper mineralization at nearby mines) of granodiorite composition occur as dikes and are dated at 50 to 53 million years. Hornblende-feldspar porphyries, displaying flow or trachytic textures, occur as the extrusive equivalent of the intrusive dikes.

Chalcopyrite and pyrite occurs in hairline fractures in the biotite-feldspar porphyry which shows chlorite-carbonate-epidote alteration. This alteration is transitional to potassic feldspar alteration with secondary biotite to the east of the property. Malachite and chalcocite as well as minor occurrences of molybdenum, galena and sphalerite in quartz veinlets occur also in the volcanics (MINFILE 224 - SAT showing).

The SAT Property has limited historical work conducted between 1975 and 1982 including a small drilling program done by Amoco Canada(1). 19 Holes drilled by Amoco were focussed on the IP chargeability high, and subsequent authors postulated that drilling may have been located in the pytite halo of a possible copper deposit, there is no indication that samples were assayed for gold. Subsequent to 1982 there has been no work reported for this property.

In the late fall of 2011, Riverside Resources Inc. (with its partner Antofagasta Minerals S.A.) acquired the Flute and Lennac claims surrounding the SAT property and has commenced target definition with a goal to drill test targets in year one.

2012 Al Bawaba (Albawaba.com)

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2012 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Parlane Resource Corp
Publication:Mena Report
Geographic Code:1CBRI
Date:Oct 5, 2012
Words:431
Previous Article:Canada : CERF INC. acquires NISKU based TRAC ENERGY SERVICES.
Next Article:Canada : RBC Announces $4.4 Million in Donations to Support Children's Mental Health across Canada.
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters