Property Description

The BAM Property consists of ten mineral tenures that cover an area of over 8,100 hectares, located approximately 150 kilometers northwest of Stewart, BC.  Highway 37 and the Northwest Transmission Line are approximately 35 kilometers to the east of the property, and the Galore Creek Project access road is 1.7 kilometers to the southeast. The Company has an option to acquire a 100% interest in the BAM Property (see news release of July 2, 2020 and below).

The BAM Property was discovered in the 1960s when regional exploration that was focused on copper mineralization resulted in the discovery of the Galore Creek deposit, approximately 35 kilometers to the west, and the Schaft Creek deposit, approximately 20 kilometers to the northwest; both deposits are large copper-gold porphyry mineralizing systems.  On the BAM Property, drilling in 1967 identified a sizeable area of copper mineralization with minor silver in a replacement zone hosted by brecciated Lower Permian limestone and dolomite.

More recently, exploration efforts on the BAM Property have focused on gold.  This work started in the mid-1980s when Radcliffe Resources discovered quartz veins that assayed up to 212 grams per tonne gold in grab samples, and when Chevron Canada Resources Limited collected channel samples from trenches that returned up to 7.4 grams per tonne gold over 19.3 meters.  Sporadic work since that time has identified numerous other showings, several of which were drill tested and found to host discontinuous mineralized quartz veins.  Previous work also included a number of small soil and stream sediment sampling programs, which combined have defined a 3-kilometre-long by 500-metre-wide corridor of highly anomalous gold–silver soil geochemistry within a zone of hornfelsed Lower Jurassic Hazelton Group rocks in contact with a large granitic pluton.  The gold values in soils include a considerable number which returned greater than 0.5 grams per tonne gold, with a high of 2.76 grams per tonne gold.  The Company believes these historical results provide an indication of the potential of the BAM Property and are relevant to planned exploration.

Until the Company’s 2020 exploration program, the BAM property had not been systematically explored for large porphyry related copper-gold or a bulk tonnage gold-silver system. 

2020 Exploration Program

The company completed a soil geochemical sampling program in August and defined a sinuous gold anomaly measuring approximately 3.6 kilometers long, originating at the newly-defined Monarch Gold Zone near the north end of the grid and passing through the historical Jan Copper Zone and ending at the historical BAM 10 Gold Zone in the south.  The Monarch Gold Zone measures 1,100 meters by 600 meters and covers a hornfelsed calcareous sediment in contact with a granitic batholith.  The zone is defined by numerous samples with greater than 25 ppb (0.025 g/t) gold, of which 16 samples assay greater than 500 ppb (0.50 g/t) gold with the highest sample assaying 5,730 ppb (5.73 g/t gold).  These soil samples are considered very high-grade as gold soil anomalies are typically defined by soil samples with values in the 10 ppb (0.01 g/t) to 50 ppb (0.05 g/t) range.  The zone also hosts highly anomalous values in arsenic, antimony, copper, mercury and tellurium that, in combination with the size and location of the anomaly, are indicative of a robust epithermal system.

The soil geochemical sampling program consisted of approximately 60-line kilometers of survey lines covering an area measuring 4.8 kilometers by 2.0 kilometers.  The main survey lines were spaced at 200-meter centers running east-west, with shorter infill survey lines spaced at 100-meter centers locally covering areas with historical anomalies.  Soil samples were collected every 50 meters along each of the survey lines. Approximately 1,100 samples were collected and assayed.

Plan maps of the BAM Property with the results of the 2020 soil geochemical sampling program are available at BAM 2020 Soil Geochemical Sampling Program.

The 2020 exploration program at the BAM Property also included airborne magnetic and radiometric surveys, a 15-kilometer IP geophysical survey and geological mapping and prospecting.  Interpretation of the geophysical data is ongoing and is expected to be reported when assays are available from the prospecting program.

See news release of October 8, 2020 for BAM Property 2020 exploration program results.

Quality Assurance

Amanda Tuck, P.Geo is the qualified person responsible for the BAM Property and has reviewed, verified and approved the scientific and technical information on this web site relating to the BAM Property. Ms. Tuck is a geological consultant to the Company and is a “qualified person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”).

All samples from the 2020 BAM exploration program were submitted for preparation and analysis by MSALABS at its facilities in Terrace, BC.  All samples were analyzed using multi-acid digestion with low level ICP finish.

Option Terms

The acquisition is structured as a two-phase option to acquire a 100% interest in the BAM Property.  The initial option is for a 70% interest in the property.  On exercise of the initial option, the Company will have the right to acquire the remaining 30% interest, for a 100% total interest, or remain at 70% and enter into a joint venture with the vendor.

The terms of the initial option, for a 70% interest in the property, are as follows:



Common Shares

Work Commitment





















Following exercise of the option, the Company has the right for a period of 120 days to acquire the remaining 30% interest in the BAM Property, for a 100% total interest, on payment of $7.5 million of which up to $4 million may be paid in shares of the Company at its election.  If the Company elects to not purchase the remaining 30% interest, the Company and the vendor shall form a joint venture, with the Company appointed the operator.  During the first three years of the joint venture, the Company will fund the vendor’s participating interest in the joint venture.  If the vendor fails to sell its interest in the joint venture during such three year period, the vendor’s interest will convert to a 2% net smelter returns royalty (the “nsr”), provided that the Company will have the opportunity to purchase the vendor’s interest prior to such conversion for $7.5 million.  Following the conversion of the vendor’s interest to a 2% nsr, the Company may purchase 1% of the nsr for $2,000,000 (inflation adjusted from 2020).  The vendor has also agreed to assign to the Company two claims that form part of the BAM Property for $40,000 and a 2% nsr, 100% of which can be purchased by the Company for $1,125,000 prior to commercial production on such claims and 1% of which can be purchased for $300,000 (inflation adjusted from 2020) after commercial production is achieved on such claims.


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