The CO Project was acquired in October 2010 from Yukon Cornelius Syndicate and is located approximately 32 km SSW of Kaminak's discovery and consists of 36 CO claims (752.5 hectares). Kaminak has obtained long intersections of high grade gold in strongly altered north-south faults ranging from a few metres to 50 metres wide across a 600 m corridor, with grades up to 17.1 gpt Au over 15.5 m, and 21.3 gpt Au over 8 m. (From the same survey a regional gold silt anomaly led to Kaminak's discovery at Coffee Creek.)
The prospect was also staked by YCS Syndicate in May 2010 to cover the inferred source of a 90th percentile GSC gold silt anomaly (11 ppb Au) in short (7 km long) tributary of the Donjek River, Yukon. Kaminak Gold Corp. tied on a large block of RUN claims to the north shortly after on June 24, 2010.
Regional geophysical maps show that the property is on the Nansen-Moosehorn trend, a strong northwest-southeast magnetic low parallel to the Freegold-Casino-Coffee Creek trend
Like the Zeus property, the CO property is located in the area of Yukon that was not glaciated during the last ice age and as a result, gold placers, and soil and silt geochemistry are very effective in locating gold deposits.
Geology
Bedrock consists of Devonian to Cretaceous volcanics, greenstone, and tuff. Devonian to Cretaceous ultramafic rocks (harzburgite, dunite) are mapped 300 m to the south, and a mid-Cretaceous felsicintrusion (quartz monzonite, granite, monzonite and syenite) is mapped 1.8 km to the north.
Mid Cretaceous intrusions are the most commonly documented source of gold in the Tintina Gold Belt, including the Fort Knox and Pogo deposits (AK), and the Casino, Nucleus and Mt. Nansen deposits in Yukon
Samples of mafic and ultramafic rocks returned elevated values of copper (up to 80 ppm), chromium(up to 156 ppm), cobalt (up to 38 ppm), manganese (up to 1085 ppm), nickel (up to 314 ppm), and zinc(up to 92 ppm)
A detailed magnetic derivative map from the Stevenson Ridge Survey flown by the Yukon Government and the GSC in 2009 shows that three magnetic lineaments trending east-west, northwest-southeast, and north-south intersect in a magnetic low at the head of the anomalous creek.
The lineaments are important because structure is the dominant feature in the recent major gold discoveries in Yukon's White Gold district, where gold occurs in quartz veins, hydrothermal breccias, and broad shear zones with multiple parallel faults and shears that show up as linear magnetic lows on geophysical maps. These three lineaments intersecting near the top of the anomalous creek, as well as quartz stockwork found in the creek, make this a prime target area for initial exploration.
Based on the favorable geological, geochemical and geophysical indicators, we believe the CO property has all of the essential ingredients to make a significant gold discovery
