North America

Pelley Ridge

The Pelley Ridge zinc project encompasses two contiguous leases (the Pelley Ridge mineral lease and the Bromley mineral lease) that cover approximately 2,000 hectares in the Belt Purcell Basin in western Montana.

Pelley Ridge is interpreted to lie in a similar tectonic and time-stratigraphic setting to the world-class Sullivan deposit in British Columbia, Canada, which contained more than 160 million tonnes grading 12% combined lead and zinc and 2 ounces per tonne silver.

In Canada, the prospective rock type that hosts the Sullivan deposit is referred to as the “Purcell Supergroup”, while in the US the same rock type is referred to as the “Belt Supergroup”. The rock type features over a massive surface area of more than 200,000km2 in western Montana, northern Idaho, north-western Washington and western Wyoming in the US and south-eastern British Columbia and south-western Alberta in Canada. Over the entire Belt Purcell Basin, the Pelley Ridge project has produced the best drill intersection outside of the Sullivan deposit area.

Pelley Ridge is a drill-ready, high grade zinc target on freehold ground. Despite historical drilling returning some globally significant intercepts, only limited exploration work has been conducted on the project. That work indicated that Pelley Ridge mineralisation shows affinities to a strata-bound Pb-Zn-Ag SEDEX-type target. Deposits of this kind have produced more than half the world’s zinc and lead.

Within the Bromley lease lies a conspicuous gossan outcrop called Gossan Knob, which covers some 30m by 150m in diameter with exposure to the north obscured by shallow transported gravels.

Cominco drilled eight holes at Gossan Knob in the mid-1980s, with hole PR-02 returning a high-grade intercept of 14.9m at 5.43% Zn from 71.3m (including 10.8m at 7.21% Zn) below a wider zone of 25.3m at 3.26% Zn from 24.4m.

Nearby and subsequent drill holes supported the presence of a strong zinc-rich alteration event, with widespread >0.25% Zn anomalism and mineralised intercepts of 25m at 3.09% Zn from 25m in PPR-95-09, 16.77m at 3.11% Zn from 56.5m in PR-01 and 29m at 2.70% Zn from 41.1m in PR-04. TNT views the width of historic zinc and supporting lead/silver and copper mineralisation and surrounding .0.25% Zn anomalism as being indicative of a strong mineralising system.

As Pelley Ridge is on freehold pastoral land, permits to conduct exploration are expected to take four to six weeks to obtain. The project boasts excellent infrastructure with a government-maintained road running through the tenure and year-round access. The land is not vegetated and there are no apparent environmental sensitivities.

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