Registry 366mil
MC $3.6 mil
Currently trading a 1 cps
YUKON BASE METAL PROJECT, CANADA
ZINC
History
Mineralisation at the Andrew Zinc Deposit, located in the Selwyn Basin of the Yukon Territory, Canada, was discovered by a prospector in 1996.
Overland Resources Limited (“Overland” and “the Company”) secured an option (from the prospector) to earn a 90% interest in the Yukon Base Metal Project (“Project”). Following positive results from further exploration, Overland exercised that option in July 2007.
The original Project comprised 493 Mineral Claims covering 95 km2 over and around the Andrew Zinc Deposit.
Overland has since expanded its land position so the Project now comprises 1554 Mineral Claims covering approximately 305km2Overland’s Activities Since 2007
the Company has completed 350 diamond drill holes for over 40,000 metres; discovered three separate zinc deposits; and defined a 2012 JORC Code compliant Measured, Indicated and Inferred Resource of 12.6 million tonnes at 5.3% Zn and 0.9% Pb
Transfind
GOLD
Drilling will commence in late February or early March 2017, as soon as a suitable rig is available.
The fully funded program will consist of approximately 2,500m of RC drilling.
The majority of the drilling is to be conducted at the high grade Transfind deposit.
Between 1991 and 1992 a total of 31,000t of ore was mined from the Transfind pit at a grade of 4.9 g/t Au for 4,900oz of gold.
The pre‐mining reserve was 69,000t @ 5.7g/t Au for 12,560oz of gold; indicating significant high grade gold remains unmined at the deposit.
Historic intercepts in unmined areas include
*** 3m @ 343 g/t Au from 42m (including 1m @ 1012 g/t Au).***
Follow‐up drilling will be undertaken around this high‐ grade mineralisation during the forthcoming program.
Overland’s Forward Strategy
Overland believes there is considerable potential to generate significant cash‐flow by resuming mining operations at the Trojan Gold Project in the near term.
With a toll‐milling agreement an integral component of the HOA, a low‐CAPEX development alternative is readily available.
As only limited work has been undertaken at the Project since mining ceased in 2004, the Company believes there is considerable potential to increase the resource base at the Project by undertaking further exploration.
This will comprise further evaluation of gold mineralisation under and around the Trojan and Transfind open pits, as well as undertaking exploration at numerous other highly anomalous areas within the Project area.
I think the early bird ( pre Drill ) on this will most certainly benefit.
I can see this going multi from this point.
