The Company’s 100% owned Tell property, currently consists of 235 claims totalling approximately 4,900 hectares, and is located approximately 140 kilometers east of Mayo, Yukon, and just south of the Rackla Gold Belt being explored by Atac Resources. A Strategic Alliance with privately held Guatavita Gold Corporation allows for Guatavita to earn a 50% interest in the claims by contributing 65% of funds to ongoing exploration on the property in the amount of $1 million, up to October 31, 2015.
The Tell Property was originally staked by Manson Creek in 2002 to cover extensive, unexplained surface gossans rich in Zinc and Nickel, with associated elevated Silver, Barium, Manganese and Cobalt.
Extensive surface transported gossans, occurring over a strike length of more than 800 meters include the Main Tell Gossan, Crystal Springs, Ash Springs, Roswell and Area 51. Another series of gossans occurs at Majestic and Corona, at the southern end of a large vegetation kill zone surrounded by these rich iron oxide surface anomalies.
Work conducted by Manson Creek since 2002 outlined extensive anomalous surface geochemistry that correspond to a well-defined underlying conductivity and chargeability anomaly defined by ground based induced polarization geophysics in 2012.
Extensive gossan formation has often been noted above or in close association with massive suphide deposits, and led to the initial discoveries in case studies such as Ocelot (Atac Resources), the Marg, Wolverine and Fyre Lake VMS deposits in the Yukon, the Howard’s Pass and Red Dog SEDEX deposits (Yukon and Alaska) and the Voisey’s Bay Nickel-copper-cobalt massive sulphide deposits of Eastern Canada.
Manson Creek and Guatavita Gold conducted a short initial maiden drilling program on the property in the summer of 2014, with four short drill holes and a total of 673 meters completed. The drilling confirmed that the gossan areas are underlain by favorable stratigraphy for the discovery of VMS/SEDEX style massive sulphides, with widely anomalous intervals containing notable zinc and silver mineralization. Extensive exhalative barite units were found in drilling, overlaying pyrite rich shales which in turn overlay gritty units with evidence of hyaloclastic volcanism. Large clasts of massive sulphides indicate a propitious environment for larger accumulation of sulphides with higher grades, and large low grade zinc/silver halos within the sedimentary units are commonly associated as haloes in established massive sulphide districts
Manson Creek views the progress to date at Tell as extremely supportive of its exploration model in having identified a previously undocumented large submarine exhalative center, outlining the presence of extensive syngenetic sulphide bearing horizons with evidence of hydrothermal activity, and having confirmed the presence of volcanic rocks, in a quiet basin propitious for the deposition/accumulation of massive sulphide bodies with potentially economic grades.
In addition to the prospecting and sampling proximal to the Tell gossan/kill zone area, a property wide detailed stream sampling program was completed. All of the drainages on the property were sampled at 250 meter intervals. The work identified two regional geochemical anomalies, Area 15 and Area 13. Each of the anomalies represents a zone of anomalous multi-element values that are analogous to the Tell area gossan discoveries. Area 13 is located approximately 2 kilometers to the west of the Tell Zone with Area 15 located 4 kilometers along strike to the west of the Tell Zone.