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Sojourn Exploration Inc. (TSXV:SOJ) (OTC Pink:SJRNF) announces the signing of a letter of intent to acquire the Sparrowhawk Property located 65 kilometres northeast of Smithers in north-central British Columbia.
Sojourn Exploration Inc. (TSXV:SOJ) (OTC Pink:SJRNF) announces the signing of a letter of intent to acquire the Sparrowhawk Property located 65 kilometres northeast of Smithers in north-central British Columbia. Under the terms of the agreement, Sojourn may acquire a 100% interest in the property, subject to a 1% NSR which can be purchased by Sojourn for $2,000,000.
The Sparrowhawk Property is highly prospective for porphyry copper-gold systems and includes several undrilled targets including:
- Sparrowhawk – a 3 kilometer corridor of copper-gold mineralized outcrops and historical soil and rock samples including a well mineralized breccia at the Sparrowhawk showing which has returned values up to 3.25% copper (Cu) and 0.40 grams per tonne (g/t) gold (Au).
- DCA – a 560 meter trend of copper mineralized mafic volcanics with blebby disseminated chalcopyrite and quartz-magnetite-chalcopyrite veining, returning assays up to 0.87% Cu.
- BFP – a 530 meter trend of highly altered crowded porphyry in outcrop and float, with anomalous Cu values. Sampling of the area by previous operators has returned values up to 1576 ppm Cu.
- Regional and property-scale airborne EM (electromagnetic) targets in a drift covered corridor between 4 and 11 kilometers north of the past producing Bell copper mine.
The road accessible Sparrowhawk Property is now 9,913 hectares and is strategically located in the Babine Porphyry Copper District adjacent to Glencore Canada’s Bell and Granisle mine property and Pacific Booker’s advanced stage Morrison property. 2,741 hectares were acquired from vendor Rolland Menard, as well as an additional 7,712 hectares acquired by staking. The Bell Mine was operated by Noranda between 1972 and 1992 and produced 77.2 Mt (million tonnes) of ore averaging 0.39% Cu (copper) and 0.16 g/t Au (gold). The Granisle Mine, located 8 kilometers south of the Sparrowhawk property, operated between 1966 and 1982 and produced 57.2 Mt of ore averaging 0.41% Cu and 0.13 g/t Au. The Sparrowhawk Property is 11 kilometers southeast of the Morrison copper deposit, with a proven and probable reserve of 224.25 Mt with an average grade of 0.33% Cu, 0.163 g/t Au and 0.004% Mo (molybdenum).
The Sparrowhawk Property is underlain primarily by Early Jurassic Hazelton Group volcanic rocks and intrusive suites of Early Jurasssic, Late Cretaceous and Eocene ages. Normal faults connected to the regional Skeena Arch structural trend disrupt the area. Porphyry copper-gold deposits of the Babine District are associated with small plugs and dykes of Eocene Biotite-Feldspar (BFP) and Quartz-Feldspar (QFP) porphyry which are emplaced primarily along two major north-northwest trending structural breaks (i.e., the Newman and Morrison faults). Both of these significant mineralized structures cross the Sparrowhawk property.
Three significant copper-gold mineralized trends have been delineated by historical rock and soil sampling on the Sparrowhawk property: Sparrowhawk, DCA and BFP.
The Sparrowhawk corridor comprises a 3 kilometer northeast trend of copper-gold bearing outcrops and anomalous soil values. The trend is located approximately 7.5 kilometres northeast of the Bell Mine. The corridor parallels a strong, linear northeast magnetic low which may correspond to a fault which connects the northwest trending Morrison fault to the BFP trend. In the central part of the Sparrowhawk corridor, mineralization crops out over a strike length of 850 meters. One highly weathered outcrop contains strongly magnetic, angular clast supported breccia with strong chalcopyrite, magnetite and hematite at the Sparrowhawk showing. Historical rock samples returned the following assays:
- A grab sample of the breccia collected in 2007 assayed 3.25% Cu and 0.40 g/t Au;
- A larger sample collected in 2008 returned 0.82% Cu and 0.08 g/t Au;
- Detailed sampling of the breccia outcrop in 2009 included two 0.5 meter saw cut channel samples grading 2.78% Cu and 0.61 g/t Au and 2.64% Cu and 0.49 g/t Au;
- Ten additional grab and composite samples from 2009 averaged 0.62% Cu and 0.06 g/t Au.
About 230 meters southwest of the Sparrowhawk breccia, another outcrop of sulfide and specular hematite veining returned assays of 2.97% Cu and 1.385 g/t Au, and 0.845% Cu and 0.70 g/t Au. Samples from an outcrop 530 meters northeast of the breccia returned values of 0.88% Cu and 1.145% Cu. Most of the area of the mineralized trend is within a valley and outcrops are sporadic. A significant concentration of anomalous soils (up to 431 ppm Cu) on trend with the mineralized outcrops is centered about 1.2 kilometers northeast of the Sparrowhawk breccia.
The mineralized Sparrowhawk breccia and nearby mineralization to the southwest directly overlies a distinct, 600 meter diameter circular magnetic high which may represent a buried intrusive center or larger breccia body.
The DCA trend is located about 2.9 km north of the Sparrowhawk breccia. Mineralized outcrops of mafic volcanics with blebby disseminated chalcopyrite and thin quartz-magnetite-chalcopyrite veins have been traced over a strike length of 560 meters. Historical rock samples include assays of 0.36% Cu, 0.42% Cu, 0.52% Cu and 0.87% Cu.
The BFP trend is about 4.4 kilometers northeast of the Sparrowhawk breccia, lying on the same northeast trending magnetic break, and may represent an extension of the Sparrowhawk trend. Several outcrops and float boulders of sericite-pyrite-clay altered and weathered crowded porphyry have been sampled over a strike length of 530 meters and returned anomalous values up to 0.16% Cu.
The west side of the Sparrowhawk property is largely drift covered with minor outcrops of Babine porphyry. Regional (Quest West) and property-scale airborne surveys have delineated multiple untested EM (electromagnetic) anomalies in this north-northwest trending extension of the Bell-Granisle corridor.
Under the terms of the Letter of Intent dated January 15, 2019, Sojourn will acquire a 100% interest in the property by making a cash payment of $5,000 on signing, and issuing 87,000 common shares to the vendor, Rolland Menard., on execution of a Definitive Agreement. The agreement is subject to a 1% NSR which can be purchased by Sojourn for $2,000,000.
Sojourn Exploration President Tyler Ruks comments:
“The Babine area is a significant porphyry copper-gold district in British Columbia which includes Glencore’s past-producing Bell and Granisle mines, and Pacific Booker’s advanced stage Morrison project. The Sparrowhawk property is situated in between the Bell-Granisle and Morrison deposits, with mineral claims that are contiguous with both Glencore’s and Pacific Booker’s land positions. Importantly, the Sparrowhawk project is situated along a prospective corridor which contains both the controlling structures for Babine-district porphyry copper-gold deposits, and associated, widespread porphyry copper-gold occurrences and high grade breccias, all of which remain untested by drilling. We are looking forward to exploring the project in 2019.”
Historical assays have not been verified by Sojourn but have been cited from sources believed to be reliable. Sojourn’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by John Bradford, PGeo, Chief Geologist, who serves as a Qualified Person under the definition of National Instrument 43-101.
For further information please contact: Tyler Ruks, President and CEO at +1 (604) 638 3695
Investors are cautioned that Sojourn Exploration Inc. has not verified the data from the Bell and Granisle and Morrison deposits. Further, the presence and style of mineralization on these properties is not necessarily indicative of similar mineralization on the Sojourn Exploration Inc. property.
This news release contains statements about Sojourn’s expectations and are forward-looking in nature. As a result, they are subject to certain risks and uncertainties. Although Sojourn believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and Sojourn undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.
Source: www.newsfilecorp.com