The Cole prospect is a copper-gold porphyry system centred on the ridge between King and Terwilligen creeks, west flowing tributaries to Unuk River. It is located approximately 58 kilometres southwest of Bell 2 Lodge on Highway 37, and 74 kilometres northwest of Stewart, B.C.

Field mapping in 2017 outlined a 400 by 200 metre area of gossanous north-northeast-trending altered diorite and monzodiorite porphyry outcrops (dikes) with intense quartz-sericite-pyrite alteration. These dikes are hosted by Stuhini andesitic and clastic sedimentary rocks and unconformably overlaid by Hazelton rocks to the west. The gossan, within the QSP alteration zone) is characterized by pervasive and boxwork hematite-jarosite-limonite ± Mn and copper carbonate hydroxide minerals.

The Cole prospect is at the northern extent of the 7.5 kilometre long Hawilson monzonite complex. The quartz-sericite-pyrite alteration and gossan are surrounded by propyllitic alteration of chlorite-epidote-carbonates. The surface rock-chip geochemistry consisting 0.2 to 0.90 per cent copper in rocks and 300 to greater than 600 parts per million copper in soil which reflect porphyry style copper-gold mineralization (Assessment Report 37121).

Mineralization includes pyrite and chalcopyrite in gossanous zones which can be attributed to the chemical weathering of pyrite. In the main gossan zone, near the headwaters of Gossan Creek, pyrite is present predominantly as disseminations and fracture fillings in the felsic intrusive and volcanic rocks. It is found, to a lesser extent, as scattered clusters or blebs. Quartz veinlets are also present and host minor disseminated pyrite. Sphalerite has been observed in the area.

WORK HISTORY

In 1981, an 18 metre chip sample taken from the main gossan zone assayed 0.069 per cent copper, 0.01 per cent zinc, 3.43 grams per tonne silver and 0.07 gram per tonne gold. Two other chip samples taken over 12 metres and 9 metres assayed 0.102 per cent copper, 3.77 grams per tonne silver, 0.103 gram per tonne gold and 0.104 per cent copper, 2.4 grams per tonne silver, 0.034 gram per tonne gold, respectively (Assessment Report 10474, page 8).

In 1983, a grab sample taken from a quartz-pyrite vein of variable width, ranging from 5 to 50 centimetres, assayed 5.14 grams per tonne gold, 44.57 grams per tonne silver, 0.003 per cent copper (Assessment Report 11673, page 13). It appears that gold values are associated with quartz-pyrite vein mineralization.

In 2002 Rimfire Minerals completed a program of rock and soil geochemical sampling on their Adam property, collecting 117 rock and 79 soil samples (Assessment Report 27130). Work occurred on the Mount Dunn (Evan) prospect and the Cole showing (104B 209) areas.

In 2013 and 2016 Metallis Resources completed airborne geophysical surveys that covered the Cole area and several other mineral occurrences. In 2013, Metallis Resources commissioned a 210 line-kilometre airborne geophysical (VTEM, magnetics and radiometrics) survey over a portion of the Kirkham property. Several TEM anomalous zones are identified across the property. A major radiometric anomaly zone and several radiometric anomaly trends are observed across the block. The 2016 survey identified four geophysical anomalies which continue several hundred metres below the surface. See Mount Dunne (104B 079) for further details.

In 2017, Metallis conducted a program of field mapping and sampling on the Cole prospect, as part of a larger exploration program on the Kirkham property (Assessment Report 37121).

A 2018 geological mapping program identified the Cole Target as a typical sub-alkalic porphyry copper-gold target with an alteration footprint extending for 1000 by 800 metres. The mapping indicated a zonation pattern of QSP alteration surrounded by propylitic, chlorite-epidote-carbonate alteration. The 1st pass drilling at the Cole target discovered centimetre-scale gold-bearing massive sulphide veins in both KH18-18 and KH18-19 drill holes. The 3rd drill hole (KH18-20) was drilled along and across the Adam fault. The drilling intersected a series of sub-parallel faults characterized by fault gouge and supergene argillic alteration. The sericitic altered porphyry intrusions and clastic sedimentary rocks in this drill hole are cut by numerous centimetre-scale massive sulphide veins carrying 0.37 gram per tonne Au over 9 metres to 0.45 gram per tonne Au over 4 metres, similar to those intersected in KH18-19 (Assessment Report 38231).

Work continued on the Cole-Etta high grade target in 2019. Metallis’ geologists outlined a 1000 by 200 metre wide zone of northeast oriented faults and epithermal veins along the Cole porphyry system. Over 200 continuous rock-chip samples were collected from 21 trenches excavated along the historic copper and gold geochemical anomalies. The highlight assays included 18 grams per tonne Au over 0.2 metre in a drusy textured epithermal quartz vein and 0.56 gram per tonne Au and 0.31 per cent Cu over 0.9 metre within massive pyrite-pyrrhotite veins. Several 2 metre intervals of continuous trench samples assayed anomalous gold ranging from 0.5 gram per tonne to 1.25 grams per tonne Au. Based on the trench sampling results and field exploration, the Company drilled 6 holes totaling 2,617 metres in the Cole-Etta target area (Metallis Resources Press Release November 28, 2019).

High-grade gold intervals ranging from 0.34 gram per tonne AuEq to 2.85 grams per tonne AuEq in the 2019 drill holes now confirm the presence of multiple sub-parallel epithermal gold zones along the Adam fault. Broad drilling intercepts with up to 0.47 gram per tonne Au correlate with pervasive green and grey sericitic altered and silicified monzonite dikes highlighting the strong potential of substantial porphyry-type mineralization at depth. Field mapping and 3D geological modelling has illustrated multiple sub-parallel porphyry intrusions striking northeast and dipping approximately 60 degrees to the east (Metallis Resources Press Release March 24, 2020).

See Cliff (104B 620) and Mount Dunn (104B 079) for details of a related work history and geological work.