|Silver Crown 6 Property|
The Silver Crown 6 property, owned jointly by Teuton and Silver Grail Resources Ltd., lies immediately north of Decade Resources’ Red Cliff property, and is now under option to that company. Decade’s Montrose zone has returned several spectacular drill intersections in the past two years, some of which lie just a few hundred metres south of the Silver Crown 6 claim. Potential for strike extensions of the Montrose zone into the Silver Crown 6 is considered excellent.
Location & Property Status
The Silver Crown 6 property is located north of Stewart, BC, at the headwaters of Lydden Creek. Road access exists from Highway 37, located a few km to the south.
Decade can earn an 100% interest in the claim, subject to a 2% Net Smelter Royalty, by spending $1,500,000 over a four year period. Total cash consideration over the term of the option equals $100,000 all of which has been received. Decade will also issue 100,000 shares of its common stock to Silver Grail and Teuton upon regulatory approval. A further 200,000 shares is payable at the end of the option period.
Decade Resources has completed a total of 5,227.49 meters of drilling in 36 holes on drill roads and drill pads on its Red Cliff property. Drilling tested the Montrose zone in 3 areas, namely north of the previous mining activities in Lydden Creek, in the Lydden Creek canyon just west of the previous mining activities and along the possible south extension. Drilling extended the zone well below the lowest working as well as indicating that it extends to the north from the adit in Lydden Creek.
Some of the drilling intersection highlights on the Montrose zone include values up to 7.5 g/t gold over 32.5 meters in DDH-2009-MON-1 [located 200m south of the Silver Crown 6], 4.17 g/t gold over 48.48 meters in DDH-2009-MON-2, 7.3 g/t gold over 28.4 meters in DDH-2009-MON-3, 5.78 g/t gold over 28.17 meters in DDH-2009-MON-4, 4.75 g/t gold over 39.63 meters in DDH-2009-MON-5 and 20.87 g/t gold over 24.7 meters in DDH-2009-MON-6. This drilling indicated a zone of higher grade mineralization that should be defined in further programs.