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Little Gem Project

The Little Gem Project was discovered in the 1930’s by prospectors identifying a pink cobalt-bloom on weathered mineralization that led to three adits being developed. A total of 1,268m of drilling was completed from underground and detailed channel sampling was taken from the adits. Results from this work generated some exceptional Cobalt and Gold assays including:

Historic drilling 1.8 m @ 2.4% cobalt & 112 g/t gold

3.3 m @ 1.4% cobalt & 12 g/t gold; and

4.1 m @ 1.4% cobalt & 11 g/t gold.

 

Underground channel sampling

 

1.8 m @ 4.4% cobalt & 73 g/t gold; and

2.0 m @ 3.1% cobalt & 76 g/t gold.

 

Surface channel sampling

 

0.4 m @ 5.7% cobalt & 1,574 g/t gold; and

0.1 m @ 4.6% cobalt & 800 g/t gold.

 

Little Gem is mostly underlain by granite of the Coast Plutonic Complex and ultramafic rocks on what is interpreted to be the northern extension of the Cadwallader fault zone. These are the major geological units and structures important to the mineral deposits either as the host rocks or sources of the mineralizing fluids that gave rise to the Bridge River mining camp. The camp has 60 mineral localities including the Bralorne-Pioneer mining complex (endowment of 4.4 Moz at 17 g/t Au) which retains the status of the foremost gold producer in British Columbia and the sixth largest in Canada. Little Gem is only 15 km along strike to the north of the Bralorne-Pioneer mining complex.

There has been very little modern day exploration at Little Gem with the main activities being airborne geophysical surveys (including magnetic, radiometric and electromagnetic (“EM”) surveys) in the 1970’s and a further two drill holes completed in 1986.

The second mineral occurrence at the Little Gem Project is the historic Jewel Gold Prospect which supported some gold production from 1938 to 1940 and is located only 1.1 km north-northeast of the Little Gem Mine. Since Blackstone began working on the Little Gem Cobalt-Gold Project it has verified the mineralisation identified historically at the Little Gem Cobalt-Gold Prospect and the Jewel Gold Prospect and discovered a new high grade Gold prospect named Roxey.

The Roxey Gold prospect is located 1.5 km west-southwest of the Little Gem Cobalt-Gold prospect and is along strike to the cobalt–gold mineralization at Little Gem. Blackstone visually identified Roxey during the due diligence site visit and took rock chip samples within the target area which assayed up to 24 g/t gold, 1.9% copper & 24 g/t silver. Mineralization at Roxey is associated with quartz-pyrite altered diorite containing chalcopyrite.

Surface rock chip samples taken to verify the mineralisation at the Jewel prospect located 1.1 km north-northeast of Little Gem, returned up to 98 g/t gold and 3.2% copper. These results confirm what Blackstone’s recent investigation has revealed with historical samples of up to 0.6 m @ 75 g/t gold and 0.45m @ 153 g/t gold from underground and surface channel sampling and up to 6.9 g/t gold, 19.25% copper & 137 g/t silver from underground rock chip sampling. Mineralization at Jewel sits in an ultramafic near the easterly trending/steep south dipping contact with the quartz diorite/granodiorite that hosts the Little Gem Prospect.

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