New Raven Project


The New Raven Project, located near Lillooet in southwestern British Columbia, holds excellent potential for discovery of a gold-quartz vein deposit. The property's geology and setting are similar to the Bralorne-King-Pioneer project, which lies 45 km to the northwest and produced 4.15 million ounces of gold from 7.9 million tons of ore.

A non-contingent, two-phase exploration program is planned for New Raven.
Phase 1 will consist of detailed prospecting and mapping, a VLF-EM geophysical survey and trenching followed by a 1,500m diamond drill program with additional trenching in Phase 2.

New Raven's 2,707 hectare claim area lies within the Lillooet Mining Division and encompasses six promising zones: Discovery and Zones A-E, all within the 600m by 150m Raven showing characterized by extensive quartz-carbonate veins carrying gold. The veins range from a few centimeters to 2-3 meters wide.

Past Exploration

Exploration on the New Raven property began in 1990 with the discovery of visible gold mineralization. Subsequent geochemical soil sampling and trenching was conducted by a previous owner. This early work identified three gold showings (A, B and C) and returned values of 682.5 g/t and 4.142 g/t from two areas. It also outlined an area of north-trending strong copper-gold-arsenic anomalies.

Between 1990 and 2007, approximately 500 metres of diamond drilling in 10 holes were completed along with excavator trenching, mapping, rock geochemistry, and reconnaissance and grid soil geochemistry.

Most Recent Exploration

The 2010 program consisted of magnetic and VLF-electromagnetic geophysical surveys over the Raven showing area, and rock and soil geochemical sampling, and mapping in Cinnamon Creek and peripheral to the New Raven showing. The program located a prospective quartz veined listwanite exposure 2 km north of the Raven Minfile occurrence, located the presence of favourable listwanite alteration 500m to the south ofthe Raven Minfile occurrence and to the north of the Smokey zone, outlined the association of most of the gold showings with the western margin of magnetic highs, and delineated seven significant conductors, three of which are associated with known gold bearing zones.

A non-contingent two phase exploration program is recommended on the New Raven Project. Phase 1 would consist of mapping, sampling and trenching to be followed by a 1,500m diamond drill program with additional trenching.

After Cresval Capital Corp. acquired the property in 2008, the company launched an exploration program involving mapping, prospecting, rock and soil geochemical sampling, GPS surveying of previous diamond drill hole collars and trenches and an evaluation of the New Raven showing.

The program verified work completed by previous operators and located previous drill holes as well as most of the trench locations. It also located the source of visible gold mineralization in the Discovery zone and indicated potential for continuity of gold mineralization to the south of the E zone. A new mineralized zone, known as the Smokey Zone, was also discovered.

Discovery Zone

In the Discovery Zone, significant gold values from grab samples over a 20m-by-35m area were produced during the 2008 program. Maximum values reached 12,109 g/t Au and 44.41 g/t Au. The zone remains open along strike to the north and south.

Samples consisted of oxidized sulphides, grey quartz veinlets and sheared buff phyllite. A sample of the rusty soil from the Discovery zone shear was panned and yielded 1-3 mm blebs of visible gold. The pan sample returned 6.5 g/t Au by metallic gold assay. All samples indicate the presence of gold at the Discovery outcrop.

A 1.3m chip sample across the flat quartz vein at the base of the Discovery outcrop returned <0.03 g/t Au by metallic gold assay (sample 14552). This vein probably correlates to the flat vein exposed in Trench 90-2, which did not contain significant values. A folded quartz vein hosted by phyllite 13m east of the visible gold occurrence at DZ-7 returned 0.91 g/t Au by metallic gold assay (1.01 g/t Au by standard fire assay) over 0.3m (sample 14572).

Zone A

Zone A consists of a 2-3m wide North West trending shear zone in orange-brown
weathering pyritized, carbonate altered cherty argillite with dusty arsenopyrite and minor chalcopyrite along fracture surfaces and 5-15 cm quartz veinlets. Results include 17.0 g/t Au over 3.5m including 27.9 g/t Au over 2m in Trench 90-1. A shear zone exposed in the western end of Trench 90-3, 30m to the northwest, returned only 0.82 g/t Au over 1m.

Zone B

Zone B covers an area of quartz-arsenopyrite-pyrite bearing shear zones hosted by
listwanite which has not been adequately tested by trenching (RTR 90-2) or drilling (DDH 91-9) due to the rugged terrain. Hand trenching at the 682.5 g/t Au locality uncovered two quartz veins, 2-2.5m and 0.2m wide, apparently folded into an antiformal structure which plunges at a shallow angle probably 20-30º at an azimuth of 020º.

Zone C

Zone C covers three mineralized shear zones, two trending North West hosted by
sheared cherty argillite with pyrite, lesser arsenopyrite, chalcopyrite and quartz veins, returning a value of 5.2 g/t Au over 1.5m in RTR 90-4. The third shear, trending 030º/45- 50ºW, occurs in listwanite and returned 8.7 g/t Au across 2m in RTR 90-5. Check samples collected in 2008 verified work completed by previous operators on the property with 9.36 g/t Au over 1m and 16.75 g/t Au in a grab sample.

Zone D

Zone D encompasses a mineralized northerly trending shear and a number of quartz
veins hosted by listwanite and lesser argillite generally trending North West and 010-020º, dipping 50-60ºW, although one trends 330º/50ºNE. Values include 28.8 g/tover 3.5m in RTR91-9, and 36.6 g/t over 0.7m and 57.7 g/t over 0.5m from two veins in RTR92-12. A grab sample grading 12.13 g/t Au over 0.3m and 7.35 g/t Au over 1.2m was also produced during the 2008 program.

Zone E

In Zone E a number of quartz veins cut listwanite with maximum values of 15.0 g/t Au and 16.29 g/t Au over 1m from a South trending quartz vein in trench RTR92-4.