The Holt Property (the “Property”) is located approximately 10 km southwest of Duncan, British Columbia in the Victoria Mining Division in south Vancouver Island. Decklar Resources entered into an Option and Joint Venture Agreement with Island Time Exploration Ltd. (“Island Time”) on the Property in July 2018. The Property is owned by Island Time, subject to a 2% net smelter return royalty. Under the terms of the agreement, the Company can earn a 75% interest in the Property.
The Property consists of four claims totaling 3,687 hectares. In 2018, geological mapping, rock sampling, rock soil and silt sampling and an airborne magnetometer survey were completed by Island Time. Soil sampling results included anomalous copper values of up to 145 ppm, while silt sampling resulted in copper, lead and zinc values of up to 122 ppm, 10 ppm and 182 ppm, respectively. Rock samples contained quartz veining and/or sulphides with gold values up to 0.074 ppm, silver values up to 11.3 ppm and copper values of up to 8080 ppm.
Details of the sampling parameters, sample preparation, analysis and security are contained in the NI 43-101 technical report prepared in May 2018, which can be found here.
A two-stage exploration program has been suggested which focuses on the northwest trending, potentially VMS-bearing Sicker Group rocks, as well as the area of the Property possibly underlain by intrusive rocks with potentially associated skarn mineralization.
This is a low-cost earn-in exploration opportunity in an area with compelling geology due to historical production of gold, silver and copper. Further, as is the case across most of the region, nearby infrastructure is excellent. A large portion of the Property is accessible via active logging roads, several 500 kilovolt power lines intersect the tenements, and the Nanaimo Port is about 50km away.