The Iron Colt (L.796) occurrence is located at an elevation of approximately 1158 metres, on the southwestern side of Columbia Kootenay Mountain and northeast of the community of Rossland.
Regionally, the area is underlain by Lower Jurassic Elise Formation (Rossland Group) siltstone, argillite and hornfelsed siltstone, which has been intruded by quartz monzonite of the Early Jurassic Rossland Plutonic Suite. The grey to black siltstone and argillite grades into hornfels and forms distinct layers within the volcanic breccias and several horizons grade laterally into sandstone and breccia. The Rossland Group rocks are crosscut by north-trending Early Tertiary lamprophyre and diorite dikes, which host disseminated pyrite.
The Iron Colt vein(s) is believed to be the east extension of the main Le Roi (MINFILE 082FSW093) vein and/or possibly the west extension of the Columbia-Kootenay (MINFILE 082FSW151) vein. The Iron Colt vein strikes 063 degrees and dips steeply northward, hosting ore that is light-grey and contains calcite seams, lenses of quartz and chalcopyrite. Arsenopyrite, cobaltite and magnetite were also found in the ore. The 60- to 170-centimetre wide vein(s) occurs near the contact of the Rossland Group meta-sediments and the monzonite intrusive. The siltstone-argillite sequence strikes 020 degrees and dips 60 degrees west. Other massive arsenopyrite and chalcopyrite veins, up to 0.9 metre wide, are also reported in the monzonite host, and disseminated sulphides occur in the wallrock for up to 10 metres on either side of the vein(s).
Refer to the Le Roi (MINFILE 82FSW093) deposit for further details on the Rossland camp and the Main vein system.
Drilling in the late 1980s and early 1990s has defined a high-grade zone averaging 1.8 to 2.4 metres in width contained between two dikes 60 metres apart. The zone has been intersected over a vertical extent of approximately 90 metres and remains open at depth.
On the La Belle (L.729) Crown grant, located approximately 150 metres north-northwest of the Iron Colt workings, an adit exposes silicified sediments hosting a 6- to 100-centimetre wide quartz vein, referred to as the No. 8 vein, with massive arsenopyrite and chalcopyrite mineralization.
On the Alberta (L.973) Crown grant, located approximately 150 metres south-southeast of the Iron Colt workings, a former pit exposes sedimentary rocks hosting massive pyrrhotite, arsenopyrite and minor chalcopyrite.
In the 1930s, sampling of massive sulphide ore from the footwall of a monzonite dike is reported to have averaged 6.8 grams per tonne gold (Assessment Report 11846).
In 1983, two chip samples (47167 and 47168) of a mineralized vein exposed on the Iron Colt (L.796) Crown grant assayed 16.3 and 6.7 grams per tonne gold and 3.4 and 8.2 grams per tonne silver with 0.17 and 0.68 per cent copper over 0.9 and 1.7 metres, respectively (Assessment Report 11846). Also at this time, a dump sample (47235) from the Alberta (L.973) Crown grant yielded 16.6 grams per tonne gold, 5.1 grams per tonne silver and 0.25 per cent copper, whereas chip samples (47162 and 47161) from the La Belle No.8 vein yielded 24.8 and 0.8 grams per tonne gold and 7.5 and 0.3 grams per tonne silver with 0.50 and 0.18 per cent copper over 6 and 100 centimetres, respectively (Assessment Report 11846).
In 1986, a chip sample (83145C) of massive arsenopyrite and pyrrhotite with minor chalcopyrite assayed 1.8 grams per tonne gold over 0.1 metre, whereas a chip sample (83146C) from a silicified area hosting massive pyrrhotite-arsenopyrite veins on the St. Lawrence (L.1197) Crown grant to the east assayed 3.8 grams per tonne gold over 1.2 metres (Assessment Report 15432).
In 1989, a drillhole intersection assayed 243.43 grams per tonne gold over an estimated true width of 2.6 metres (Vancouver Stockwatch- July 11, 1989).
In 1936 and 1937, 20 tonnes of ore were shipped and 186 grams gold and 466 grams silver were recovered.
The area has been explored since the late 1800s, with the Iron Colt (L.796) Crown-granted mineral claim being staked in 1890. During 1896 through 1939, intermittent work included approximately 750 metres of underground development and minor production.
In 1979, Cominco Ltd. completed a program of rock and soil sampling on the area. The following year, 16 percussion drill holes, totalling 705 metres, were completed immediately southeast on the Georgia (L.928) Crown grant.
During 1982 through 1986, Gallant Gold Mines Ltd. completed programs of rock and silt sampling, geological mapping, ground geophysical surveys and seven diamond drill holes, totalling 694.0 metres, on the area as the Georgia property.
During January and June 1995, International Silver Ridge Resources Inc. and Pacific Vangold Mines Ltd. shipped approximately 1414 tonnes of gold-bearing ore from the Iron Colt to the Kettle River mill at Republic, Washington, for custom milling; 21.4 kilograms of gold were recovered (Information Circular 1995-9, page 18).
In 2015 and 2018, Vangold Resources Ltd. completed minor programs of soil sampling and geological mapping on the area.
