The Key property (formerly the Ram property) is located on Tsacha Mountain, 3 kilometres east of the headwaters of Mathews Creek and 27 kilometres south east of the Capoose (MINFILE 093F 040) deposit.

The property is underlain by a sequence of Lower to Middle Jurassic Hazelton Group andesitic volcanics with minor epiclastic sediments that have been intruded by later felsic dikes, possibly feeders to Tertiary Ootsa Lake rhyolites. The epiclastic sediments contain 2 to 3 per cent finely disseminated pyrite.

Mineralization occurs as sphalerite bearing mafic lapilli tuffs and interbedded sediments. It is generally poddy and occurs in close proximity to the rhyolite outcrops. Up to 25 per cent pyrrhotite and strong chlorite-silica alteration accompany zinc mineralization.

Work History

During 1980 to 1984, Prism Resources, Placer Developments and BP Minerals conducted geological mapping and soil sampling over the Mstsacha property. A broad copper-lead-zinc geochemical anomaly was identified, located southwest of Good News Lake, with maximum values of 113 parts per million copper, 102 parts per million lead and 450 parts per million zinc. The following year sampling returned up to 530 parts per million zinc and 950 parts per million arsenic. In 1984, three rock samples (811278, 811292 and 812445) from the Jon 4 claim yielded from 0.157 to 0.221 per cent zinc (Assessment Report 14215).

In 1991, the property was restaked as the Ram 1-2 claims. In 1992, a select sample (463795) of altered sediments with pyrrhotite and sphalerite assayed 3.30 per cent zinc, whereas a grab sample (463794) of altered rhyolite assayed 0.195 gram per tonne gold and 0.56 and per cent zinc (Assessment Report 22539).

In 1994 Western Keltic Mines conducted a number of soil geochemistry surveys that confirmed the presence of widespread gold, zinc, lead and arsenic anomalies in the southwestern corner of the Ram 2 claim.

In 2005, Marksmen Resources Ltd. staked the property and renamed it Key. The property was later transferred to Signet Minerals Inc., a spin-off company of Marksmen Resources Ltd.

In 2006, the Key property was transferred to Troymet Exploration Corp., a spin-off of Signet Minerals Inc.

In 2008, Troymet Exploration Corp. completed airborne geophysical surveys which identified four conductive targets.

In 2010, Troymet Exploration Corp. conducted an IP geophysical survey and rock, stream sediment and soil sampling on the property. A rock sample (I006411) from the Key occurrence assayed 1.23 per cent zinc, whereas a sample (I006485) of porphyritic felsic volcanic with chalcopyrite, located west of Tsacha Mountain, assayed 0.234 per cent copper (Assessment Report 31702).

In 2011, Troymet Exploration Corp. completed an exploration program of soil geochemical surveys, line cutting, IP surveys and diamond drilling. In 2011, 12 NQ diamond drillholes were completed (Assessment Report 33068). These were reported to be the first drilling done on the property. Six holes are shown to have been completed on the Green zone (Key West showing) (Figure 22, Assessment Report 33068). Drill holes Key-01, 02 and 03 were drilled to test a coincident IP chargeability anomaly where a rock sample containing the 4.57 grams per tonne gold, 15.1 grams per tonne silver, 0.17 per cent copper and 186 parts per million zinc was collected (Assessment Report 31702).

In 2012 and 2013, Troymet Exploration Corp. conducted infill soil sampling, prospecting, line cutting, IP surveys and drilling. Troymet Exploration Corp’s program at Key, included prospecting and sampling early in the year followed by an IP survey and reverse circulation (RC) drilling in October. The IP survey covered six target zones in the East Central area with the Buzz, SGN and Blue zones selected as priority for drill testing as coincident gold-in-soil anomalies, and the P1A target in the West Central area. Ten holes were drilled at Buzz, and 2 holes were drilled in each of the remaining three targets.

In mid-January, Troymet Exploration Corp reported the results of a 16-hole reverse circulation drilling program at the Key property. Four coincident IP and gold-in-soil anomalies were drilled including the Buzz, SGN, Blue, and P1A targets in the East Central Area. Ten holes were drilled on the northwest-trending Buzz anomaly west of the GN Fault. Hole RC-10 intersected a mineralized zone grading 0.38 gram per tonne gold, 0.50 gram per tonne silver over 13.7 metres starting at 3 metres depth in subcrop (Exploration and Mining in British Columbia 2013, page 27). The zone remains open in three directions and at depth. Several anomalous intercepts of silver, zinc and molybdenum were also returned.

At the end of 2013 Troymet Exploration Corp entered into an agreement to sell the property to New Gold Inc.

In 2014, on the Key property, exploration focused on ring-shaped magnetic anomalies and a known copper-molybdenum mineralized feldspar porphyritic intrusive. By August, two drills were on site coring to an average depth of 500 metres, and ground IP surveys were completed. In October, New Gold reported that drilling at Key encountered a broad area of porphyry-style mineralization (gold, silver, copper and molybdenum) in intrusive host rock.

The 2013 and 2014 updates are excerpts from the provincial government Exploration and Mining in British Columbia publication. While the information for 2014 did not report where the work is concentrated it seems likely that the work will occur at the Buzz showing (093F 076).

Also in 2014, New Gold Inc. completed a program of silt and till (indicator mineral) sampling on the area as part of the Blackwater and Capoose properties.