The Ruby Range Project underlies rocks known to host visible gold mineralization with potential for high grade vein deposits. The Kluane, Gladestone, JPR and Ellias properties make up the project area and are 100% owned by Rockhaven Resources Ltd. The property is favourably located within the Ruby Range Gold Belt, an under explored area that hosts rich placer gold deposits and key infrastructure.
The project area is centered 50 km north of Haines Junction and consists of 430 claims collectively covering a 68 sq km area. The Alaska Highway lies 27 km southwest and a major hydroelectric generating station is situated 33 km to the east. One of the three properties is accessible by placer mining roads.
Rockhaven acquired 100% interests in the Kluane and Gladstone properties by making a $100,000 cash payment. The vender retains a 1% net smelter return royalty on production from the claims. Half of the royalty can be bought out for $500,000. The JPR and Ellias properties were acquired through staking and are 100% owned by Rockhaven with no underlying royalties. The Kluane, Gladstone and JPR properties are currently under option to West Point Resources Inc (see Rockhaven News Release from November 15, 2011). West Point can earn a 100% interest in the three properties by making aggregate payments of $525,000, issuing an aggregate four million shares of West Point to Rockhaven and incurring exploration expenditures of $1,000,000 over a four year period.
The Kluane property hosts numerous native gold and arsenopyrite bearing quartz-carbonate vein zones. The mineralized zones include discreet fault-bounded veins and broader complexes of sheeted veins and veinlets with well developed alteration halos. The known zones are usually associated with north trending recessive topographic linears, which are quite evident on ridges. Very little exploration has been done in the adjacent valley bottoms.
Previous work on the claims has identified large areas of strongly anomalous gold and arsenic soil geochemical values. Follow up prospecting and widely spaced excavator trenching within these anomalous areas have discovered several vein exposures and mineralized float trains. More discoveries are anticipated because most of the property is covered by thick till or felsenmeer, and many of the soil geochemical anomalies are unexplained.
Mineralized veins typically assay between 3 and 60 g/t gold across widths of 0.35 m to 0.85 m while the surrounding wallrocks commonly yield between 0.2 and 1.0 g/t gold across widths of 1 to 3 m on either side of the veins. Chip samples across mineralized exposures average 3.85 g/t gold over 2.76 m, with the best assay returning 7.36 g/t gold over 9.5 m. Outcrop and float specimens containing native gold have been found in various parts of the property, and samples of this material have returned between 30 and 193.6 g/t gold. Some of the mineralized zones and soil geochemical anomalies have been partially tested by diamond drilling, with the best intercept returning 5.32 g/t gold over 2.75 m. Previous exploration has tested only a small portion of this very large property and potential for further discoveries is high.
The Gladstone property covers a 13 sq km area located immediately south of Gladstone Creek, a productive placer stream that has produced over 40,000 ounces of gold. The property is road accessible and lies in a geological setting that is similar to the Kluane property. Only limited prospecting and silt sampling has been conducted to date on these claims, but the work has returned encouraging results.
The JPR property covers a 16 sq km area that hosts strong gold-in-silt geochemistry. Productive placer gold operations are situated downstream of the property.
The Ellias property is the most northerly of the Ruby Range properties and lies 62 km northwest of Haines Junction. In 2012, Rockhaven spent one day prospecting and soil sampling on the property. Gold-in-soil values ranged from background to strongly anomalous (464 ppb), while prospecting identified numerous specimens of mineralized quartz vein with disseminated arsenopyrite and weak to strong scorodite and limonite. Eight of fourteen rocks analyzed returned greater than 2.28 g/t gold to a maximum of 6.26 g/t gold. The anomalous gold- rock and soil values delineate a 1500 m linear trend.
All technical information in this summary has been reviewed by Heather Burrell, B.Sc., P.Geo., a qualified person for the purpose of National Instrument 43-101.
Rockhaven Resources Ltd. is a mineral exploration company exploring for silver and gold in mining friendly jurisdictions in Canada. It is focused on growth through acquisition of advanced stage projects and recognition of new grassroots targets. Systematic exploration is planned to unlock the potential of these highly prospective silver and gold projects. For more information, please check the company's website: www.rockhavenresources.com.