The Seventymile project is wholly contained within land owned by Doyon, a top tier Alaska Native regional corporation with 12.5M acres of land, 19,800 shareholders and a 20-year history of mineral, oil and gas exploration agreements with both junior and senior companies. As part of Tectonics’ business model and risk management strategy, a milestone agreement was formed on the Seventymile project covering all aspects of exploration, development, production, and royalties.
The project is located in the Eagle Mining District, approximately 270 km east of Fairbanks and about 59 km west of the town of Eagle, Alaska. The town of Eagle is located at the northern terminus of the Taylor Highway, a 3-season gravel roadway, and is accessible by air from Fairbanks on daily scheduled flights. The Seventymile property is currently accessible by helicopter and small fixed-wing aircraft via a private airstrip at Alder Creek. In addition, a winter trail accessing historic placer workings at Flume Creek extends west to the property from Eagle.
Previous explorers appear to have utilized a California Mother Lode model, which targeted mineralization hosted along thrust faults separating mafic and ultramafic rocks. Historical drilling within the Flume Creek trend at the Flume, Bonanza, and Alder prospects focused solely on mineralization along these mafic-ultramafic contacts where exposed by northeast-trending creek valleys. However, following the discovery of visible gold in a quartz boulder upslope at the Flanders prospect, drilling outlined two parallel WNW-striking quartz-arsenopyrite veins dipping moderately to the north, with intercepts of up to 205.89 g/t Au over 1.10 m.
Tectonic interprets the Seventymile project as an orogenic gold system, with lode-style mineralization occurring in shear zones and faults which preferentially channel mineralizing fluids. High-grade quartz veins at the Flanders prospect are believed to represent low-angle tension gash veins related to a previously unrecognized major controlling structure located at the mafic-volcanosedimentary contact, which has never been drill tested.
In order to identify these controlling structures, Tectonic’s 2018 exploration program combined a high-definition MIDAS geophysical survey with detailed power-auger soil sampling along prospective lithologic contacts. The program validated the model, identifying multiple new, high-tenor gold in soil anomalies at these contacts, particularly at the Flanders prospect where multiple >1 g/t Au soils were found. In 2019, Tectonic successfully utilized a Geoprobe top-of-bedrock sampling tool across the Flume Creek trend to increase the resolution of these anomalies and generate drill targets for a follow-up drill campaign. Multiple targets are now drill-ready, including a >1.5-kilometre contact at the Flanders prospect.