The Elk (Lake Zone-Siwash Lake North) occurrence is located approximately 650 metres north of the west end of Siwash Lake and 6.8 kilometres north-northeast of the confluence of Siwash and Galena creeks.

The occurrence is hosted in the northwestern margin of the Middle Jurassic Osprey Lake Batholith, approximately 1000 metres southeast of andesitic volcanics of the Upper Triassic Nicola Group. The intrusion is cut by Neogene(?) andesitic dikes in the vicinity of the deposit.

Locally, a zone of quartz veining and associated alteration, up to 4 metres wide, is hosted in moderately to strongly propylitic- and argillic-altered and sheared quartz monzonite, near and paralleling a west-striking andesitic dike. The zone is centred around the 1-metre-wide dike in surface exposures. Trenching and drilling (1995) have traced the zone over a strike length of 245 metres and 120 metres down dip. It strikes west and dips approximately 55 degrees south. Later drilling (2012) is reported to have extended the mineralized zone down dip for a further 60 metres and remains open both down dip and along strike.

The deposit consists of a zone of intense argillic and sporadic sericitic alteration occasionally cut by quartz veins of similar orientation to the enclosing zone. The veins vary from 5 to 34 centimetres wide and locally contain up to 75 per cent pyrite, 10 per cent chalcopyrite, 40 per cent galena and 10 per cent sphalerite. The surrounding altered intrusive is occasionally mineralized with pyrite and up to 15 per cent chalcopyrite. Higher gold values are accompanied by intense argillic alteration containing pyrite and maldonite(?). Gold is also associated with pyrite, chalcopyrite and locally high concentrations of galena and sphalerite. Tetrahedrite is also present locally.

In 1989, a panel sample of an argillic-altered pyritic dike exposed in trench SL89-1 assayed 31.1 grams per tonne gold over a true width of 0.86 metre (Assessment Report 19835, page 2). Later in the report a value of 12.69 grams per tonne over 0.86 metres is reported (Assessment Report 19835, page 42).

In 1990, trenching exposed a mineralized quartz vein associated with an andesite dike over a strike length of 18 metres and projected for 143 metres between the trenches. Sampling of trench SL90-1, located adjacent to the previous year's trench SL89-1, averaged 4.00 grams per tonne gold over a strike length of 17 metres and a width of 2 metres with grades increasing to the west, whereas a sample from a 15-centimetre wide quartz vein with 15 per cent combined pyrite, chalcopyrite and galena exposed in trench SL90-2, a southern extension to the previous year's trench SL89-2, assayed 59.93 grams per tonne gold (Assessment Report 21443, page 43). Also at this time, four drillholes tested the zone on two fences 145 metres apart and to a depth of 78 metres down dip. All the drillholes intersected the mineralized zone and yielded gold values of up to 2.43 grams per tonne over a true width of 2.0 metres (Assessment Report 21443, page 46). Silver values are higher here than in the Elk (Siwash North) deposit (MINFILE 092HNE096), possibly due to the higher galena content of the quartz veins. Silver values in drillcore assayed up to 141.9 grams per tonne over 0.5 metre (hole 90-56, 37.3 to 37.8 metres; Assessment Report 21443, core logs).

In 1995, drilling yielded intercepts of up to 55.23 grams per tonne gold and 64.7 grams per tonne silver over 0.55 metre in hole SLD-150 and 15.87 grams per tonne gold with 65.2 grams per tonne silver over 0.67 metre in hole SLD95-200 (Assessment Report 24374).

In 2005, diamond drilling yielded intercepts of 10.53 and 17.13 grams per tonne gold with 19.97 and 168.90 grams per tonne silver over 0.50 and 0.99 metre in holes SLD05438 and SLD05439, respectively (Assessment Report 28203).

In 2011, drillhole SND11-149 intercepted a 1.2-metre interval assaying 5.12 grams per tonne gold, including 0.20 metre yielding 30.7 grams per tonne gold and 16.5 grams per tonne silver (Assessment Report 34382).

In 2012, drillhole SLD12-213 intersected a 19-centimetre-wide quartz vein yielding 14.07 grams per tonne gold over 3.95 metres, including 89.8 grams per tonne gold over 0.3 metre. Another drillhole (SND12-207), located 100 metres to the north of the Lake zone at the Road section, intercepted a zone of pyrite and sphalerite stringers-veining. A composite sample of this zone yielded 7.65 grams per tonne gold over 2.03 metres (Assessment Report 34382).

Work History

The area has been historically explored in conjunction with the nearby Elk (MINFILE 092HNE096) occurrence and a complete exploration history of the area can be found there.

The prospect was discovered by Fairfield Minerals Ltd. in 1989 after trenching soil and electromagnetic anomalies outlined in 1987 and 1989. Placer Dome Inc. drilled four holes totalling 259 metres in 1990. During 1991 through 2000, Fairfield Minerals completed programs of prospecting, geological mapping, trenching and geochemical sampling on the area. During 2002 through 2012, Almaden Minerals completed programs of geological mapping, geochemical sampling, ground geophysical surveys and 13 diamond drill holes, totalling 1758 metres.