The Forty Nine occurrence lies east of the Salmon River Glacier, on the west slope of Mount Dilworth. Host rocks consist of volcanic breccia and andesite tuff, with interbedded siltstone, argillite and conglomerate of the Lower Jurassic Unuk River Formation (Hazelton Group). The area lies within the Portland Canal dyke swarm, which consists generally of granodiorite/quartz diorite dykes, cutting the volcaniclastics and mineralized veins.

Mineralization consists of semi-massive to massive lenses of pyrite, sphalerite, galena, chalcopyrite, pyrargyrite, tetrahedrite and native silver within schistose chert and breccia, with sericite-quartz rich andesite fragments. The stratiform chert horizon, up to 3 metres thick, strikes northwest for 1000 metres and dips 50 to 80 degrees southwest. It lies within andesite tuff breccia and andesite lapilli tuff. Northeast trending faults displace the chert-sulphide bed. Fracture controlled, quartz- sericite-pyrite rich zones, which contain pyrite-sphalerite-galena veins up to several centimetres thick, extend up to 200 metres into the hangingwall, above the chert horizon.

A vein, which strikes 070 degrees and dips 60 degrees southeast, has been explored by limited underground work. It is mineralized with lenticular masses and streaks of fine-grained galena, sphalerite, with minor tetrahedrite, pyrargyrite, argentite, native silver, and rare polybasite. A 2.4 metre sample assayed 651 grams per tonne silver and 5.5 grams per tonne gold (Geological Survey of Canada Memoir 175).

The Forty Nine adit area was well drilled in 2007 by Ascot Resources with holes HL0711-HL0715, HL0735 and HL0736. The main zone was found to be wide alteration zones with moderate to strong pyrite, galena, sphalerite, tetrahedrite mineralization, with low grade gold and silver. On surface the main alteration zone can be traced 540 meters to the northwest. This trend includes the Snow Show, Chalet and Gerry’s areas (included with Yellowstone (104B 039). Holes HL0810 and HL0811 intersected a wide zone of strongly altered silicified brecciated rock. The alteration hosts a low-grade zone of 23.38 meters of 0.48 grams per tonne gold in HL0811 (Assessment Report 31000). The significance of both holes is the presence of a wide slice of Premier Porphyry. The unit is steeply dipping to the northeast and is approximately 20 meters from the low-grade gold zone. This is similar to that seen at Gerry’s zone. Other drilling intercepts, in 2007, included 124.63 and 2.18 grams per tonne gold with 55.5 and 1173.0 grams per tonne silver over 1.00 metre, respectively, in hole HL08-36 (Christopher, P.A. (2009-08-03): Technical Report on the Premier Gold Project).

In 2008, sampling of a trench (T08-05) yielded 9.57 and 0.88 grams per tonne gold with 11.1 and 893.5 grams per tonne silver over 2.00 metres, respectively, while a sample from trench T08-18 yielded 2.52 grams per tonne gold, 60.8 grams per tonne silver, 0.75 per cent lead and 0.33 per cent zinc over 6.00 metres (Christopher, P.A. (2009-08-03): Technical Report on the Premier Gold Project).

Drilling in 2010 by Ascot targeted the area beneath the Forty Nine adit and was focused to test and extend the trend of the mineralization. Four holes were completed from two setups with all holes weakly mineralized for most of their lengths. Hole P-10-100 included 7.32 metre grading 1.00 gram per tonne gold and 51.4 grams per tonne silver (Assessment Report 32357).

See Yellowstone (104B 039) for additional information on the Forty Nine prospect including information on a common work history.