The optioned portfolio covers approximately 30,000 hectares of highly prospective land within the Yukon portion of the Tombstone Gold Belt across 11 properties – namely, Mt. Hinton, Rye, Lance, Liam, Lois, Leroy, Luke, Leah, Lisa, Husky and Naws. The locations of the properties are available on the in the above linked presentation.
The flagship Mt. Hinton gold-silver project lies within the Keno Hill District of the Tombstone Gold Belt, ideally located immediately southeast of Hecla Mining Company’s (“Helca”) Keno Hill Silver Mining Project, 35 km southeast of Victoria Gold's Eagle Mine, and 25 km east-southeast of Banyan Gold’s AurMac Deposit. Mt. Hinton is a road accessible, camp scale property with over 60 precious metals veins identified to date. Mt. Hinton is a direct extension of the stratigraphy that hosts Hecla’s Keno Hill Mines and much of the historical exploration at Mt. Hinton focused on these veins. Visible gold has been found in many of the known veins resulting in many bonanza grade (>100 g/t gold) assays being reported from surface grab and chip samples:
There are active placer mines on all the creeks draining the property. Based on both metal zonation within the district and the regional magnetic signature at Mt. Hinton, a reduced intrusion on the property is theorized to be the driver for much of the mineralization in the district. Many recently identified gold-in-soil anomalies have yet to be prospected and a large magnetic low in the southeastern part of the project has not been investigated. Both will be priority targets for Trifecta.
The Rye property is located 14 km south of Fireweed Metals’ Macpass Project in eastern Yukon. It hosts a gold- and bismuth-in-soil anomaly associated with a known intrusion as well as multiple gold-rich veins more distal to the intrusion.
Located midway between Mt. Hinton and Rye, the Lance property is centered on a multi-square kilometre gold- bismuth- and arsenic-in-soil anomaly that coincides with a magnetic low. Prospecting in 2023, in the western part of the project, discovered sheeted quartz veining within a secondary soil anomaly of a similar character.
Liam is similarly centered on a large, coincident gold- bismuth- and arsenic-in-soil anomaly that is partially defined through grid soil sampling. The anomaly also has significant copper-in-soil that ranges from 200 to 847 ppm indicating potential for porphyry type mineralization as well.
Lois, Leroy, Luke, Leah, Lisa, Husky and Naws are earlier stage targets that were staked on the same regional stream sediment signatures that mark all of the known deposits and major discoveries in the Tombstone Belt.
As announced March 1st, 2024 Trifecta Gold is optioning the advanced Mt Hinton gold-silver project, next to Hecla’s Keno Hill Mines and Banyan Gold’s AurMac Deposit, as well as 10 other highly prospective projects.
Under the terms of the option agreement, Trifecta can acquire an initial 70% interest in the properties (the “First Option”) by incurring aggregate exploration expenditures of $6 million by December 31, 2027 and issuing 305,000 Trifecta shares to Strategic. Following the exercise of the First Option, Strategic will retain a one percent (1%) net smelter return royalty interest in the properties.
Trifecta can acquire the remaining 30% interest in the properties (the “Second Option”) by issuing additional Trifecta shares to Strategic equal to 9.99% of the then outstanding Trifecta share capital at any time after the exercise of the First Option and prior to February 28, 2028, which number of shares to be issued to Strategic will not include any shares of Trifecta then held by Strategic but will be subject to a maximum number of 8,920,000 shares of Trifecta. Following the exercise of the Second Option, Strategic will retain an additional one percent (1%) net smelter return royalty interest. Trifecta can purchase the second royalty interest from Strategic for the payment of 1,500 ounces of gold or the cash equivalent.
If Trifecta exercises the First Option only, the parties shall form a joint venture to further explore and develop the properties.
