Trailbreaker Resources Ltd. reported the completion of a high-resolution ground magnetic survey of the Eagle Lake property’s Moffat zone. The survey encompasses around 4 km2 and includes overlapping multi-element mobile-metal ion (MMI) soil anomalies, induced-polarization (IP) chargeability high features, and previous drill findings, including 3.52 g/t gold (Au) across 9.9 m in drillhole MOF-5.
Total magnetic field (TMI) over the Moffat zone with magnetic lineaments and magnetic low features highlighted, showing potential controls on mineralization, such as 3.52 g/t Au over 9.9 m in MOF-05. Multi-element MMI soil anomalies are coincident with the intersection of the northwest and north-northwest lineaments and local magnetic lows. Image Credit: Trailbreaker Resources Ltd.
The Moffat zone is immediately south of the Vizsla Copper Corp.-owned Woodjam project, which contains an estimated resource of 1.71 billion pounds of copper (Cu) and 968,100 ounces of gold. Both projects are in a similar geological setting associated with the Takomkane Batholith.
The ground magnetic survey has identified two sets of magnetic lineaments: one going northwest-southeast and the other north-northwest. Near the intersection of these lineaments are multi-element MMI anomalies and historical mineralized drill results.
The findings of the magnetic survey also show the presence of many intrusive stages with different magnetite concentrations and associated alteration assemblages. Magnetite ± chalcopyrite ± malachite is present on northwest-trending joint surfaces, according to geological observations linked to strong magnetic high characteristics.
Trailbreaker has been notified by Vizsla Copper that they want to exercise the provisions of the option agreement on the four claim blocks that are a component of the Eagle Lake property located north of the Moffat zone. Trailbreaker will receive 50,000 common shares from Vizsla Copper to fulfill the option agreement’s first-year requirements.
Message from the President
The ground magnetic survey has created a great value-add data set which highlights potential mineralization controls at the Moffat zone. It provides another layer of coincident data which reinforces our exploration model and will improve future targeting. We are also excited to continue being exposed to the exploration efforts of Vizsla Copper.
Daithi Mac Gearailt, President, Trailbreaker Resources Ltd.
Moffat Zone Target Description
The main target on the Eagle Lake property is the Moffat zone, which is delineated by an 850×700 m gold, copper, silver, and molybdenum (Au-Cu-Ag-Mo) MMI soil anomaly. The historic drillhole MOF-5, which yielded 3.52 g/t Au over 9.9 m at a depth of 253 m, is situated to the east and north of this anomaly.
The mineralization seen in MOF-5 is linked to hydrothermal breccia and quartz vein stockwork, which are thought to be connected to regional-scale processes slicing through the host Takomkane Batholith. These features, as well as significant structural intersections at the Moffat zone, are highlighted by the ground magnetic survey.
About the Eagle Lake Property
Within the Cariboo Mining area, the Eagle Lake property spans seven claim blocks and has about 11,100 hectares of land with potential for mesothermal gold and porphyry copper-gold deposits. The property is completely accessible via a vast network of forest service roads and is situated about 55 km east of Williams Lake, British Columbia (BC).
With a combined area of almost 6,500 hectares, the four northern claim blocks are covered under an option agreement with Vizsla Copper. The optioned claims have a 2% NSR attached to them. On three of the four claim blocks, Teck Resources Limited has an underlying 1% NSR; on these three blocks, Teck and Trailbreaker each have 1% of the 2% NSR.
Trailbreaker keeps the whole 2% NSR from the fourth claim block. Half of the 1% NSR on three claim blocks can be purchased from Trailbreaker for $500,000. Half of the 2% Trailbreaker royalty can be acquired for $1,000,000.
Trailbreaker owns all three of the remaining claim blocks, which encompass the Moffat zone, with Teck holding a 1% NSR on a portion of them. The total area of these claim blocks is around 4,700 hectares.
The Eagle Lake property is located in the Quesnel terrane, which is home to some of British Columbia’s noteworthy mesothermal deposits (such as Spanish Mountain Gold and the Cariboo Gold Project) and large-scale copper-gold porphyry deposits (such as the Gibraltar and Mount Polley mines).
The Takomkane Batholith’s Late Triassic to Early Jurassic intrusive rocks, together with a small layer of Nicola Group’s Late Triassic volcanic rocks, underlie the property. The Woodjam project, which is located directly to the north and contains an estimated resource of 1.71 billion pounds of copper and 968,100 ounces of gold, is situated in a similar geological setting.
Golden Sable Option Agreement
Trailbreaker has made the decision to terminate its option to purchase the Golden Sable property and to decline the first-anniversary payment. The optionor has received their data and property back. After compiling the data for 2023, Trailbreaker concluded that the project did not satisfy the company’s needs for further investigation in the future.