Decade Aqcuires Property in Golden Triangle Surrounded by Reported Resources of 200 Million Gold Equivalent Ounces
Decade Aqcuires Property in Golden Triangle
Surrounded by Reported Resources of 200
Million Gold Equivalent Ounces
Stewart, British Columbia--(Newsfile Corp. - March 27, 2025) - Decade Resources Ltd (TSXV: DEC)
("Decade") reports that it entered into an option agreement to acquire the North Mitchell Property
located 70 km north of Stewart BC. The North Mitchell Property is situated amongst several of the
world's most significant Cu-Au deposits within the "Golden Triangle" of northwestern British Columbia.
The property consists of 963.45 ha (9.63 square km) surrounded by Cu-Au deposits on three sides.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3615/246297_667b0b85244589af_001full.jpg
The map shows the location of the North Mitchell Property relative to mineral deposits in the claim area.
The combined number of ounces of reported gold within 8 deposits situated in 3 directions around the
North Mitchell Property (measured, indicated + inferred) is estimated at 201.67 million oz+/- as follows:
1
.
KSM's
Iron Cap
deposit is located within 2 km, with a combined resource of 36.1 million oz Au
2
.
KSM's
Snowfield
deposit is located within 2.9 km, with a combined resource 34.9 million oz Au
3
.
KSM's
Kerr
,
Sulphurets
,
Mitchell
deposits, total a combined 88.3 million oz Au, located 8.8 km, 5.5
km & 3.6 km from North Mitchel respectively
4
.
Tudor Gold's
Treaty Creek
deposit is within 5 km, with a combined 27.87 million oz Au
5
.
Newmont's
Brucejack
& Valley of Kings deposits are within 6.4 km, with a combined 14.5 million+
oz Au (one of the highest grade gold mines in the world
These estimates do not include the hundreds of millions of reported ounces of silver and billions of
pounds of copper included within these deposits.
Disclaimer: The above information has been obtained from available public sources and is
being used for reference purposes only. There is no guarantee that the North Mitchell property
hosts any mineralization similar to the above deposits.
Decade has the right to earn a 70% undivided interest in the property by making the following payments
to the Optionor (collectively, the "
Option Payments
"), as follows:
Date Of Option Payment
Shares Issued
Optionee
Ownership
Optionor
Upon Effective Date
On or before 1st anniversary of
2,937,713
1.98%
Effective date
On or before 2nd anniversary of
2,937,713
3.996%
Effective date
On or before 3rd anniversary of
2,937,713
5.994%
Effective date
On or before 4th anniversary of
2,937,713
7.992%
Effective date
2,937,713
9.990%
Upon the completion of all the above share payments Decade and Optionor will enter into an agreement
granting a 1% net smelter returns royalty (the "NSR") in favour of the Optionor. Half of the Optionor's
interest in the New NSR (being a 0.5% net smelter returns royalty) may be purchased by Decade upon
payment of $3,000,000 within 12 months before the date any commercial production commences on the
property. Shares issued pursuant to this agreement will be subject to a four (4) month and one (1) day
resale restriction from the date of issuance of the applicable Optionee Shares pursuant to National
Instrument 45-102 -
Resale of Securities
. Decade has the right to purchase the 30% Interest from the
Optionor at a price equal 2/3 of the value of the 30% Interest based upon a 5% discounted net present
value report based upon proven and probable ore reserves as defined by a feasibility report.
The agreement is subject to TSX-V approval.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3615/246297_667b0b85244589af_002full.jpg
Of particular interest is Tudor drill hole PS-23-10 drilled towards the property as seen in the map above.
This is the description of the drill-hole copied from a October 31st, 2023
News Release
: "PS-23-10:
Drilled at a relatively shallow dip to the south to explore for extension of the mineralized zone
encountered in drill hole PS-23-07. This hole intersected 102.15 m of 1.28 g/t AuEQ (1.23 g/t Au, 3.43
g/t Ag, 0.01 % Cu) including two enriched zones comprising 42.5 m of 1.87 g/t AuEQ (1.80 g/t Au, 5.76
g/t Ag, 0.02 % Cu), and 25.5 m of 1.60 g/t AuEQ (1.58 g/t Au, 1.81 g/t Ag, 0.01 % Cu). Further downhole
a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the
highest gold grades seen at PSZ to date and they are located between the Goldstorm Deposit, 3 km to
the northeast, and Seabridge Gold's Iron-Cap Deposit, 2.5 km to the southwest
."
Ed. Kruchkowski, President
states: "Having worked in this area during the 1970' and 1980's I feel that
this a wonderful opportunity for the Company base on my knowledge of the property. The North Mitchell
Property contains the rocks and geology necessary to host porphyry copper-gold and epithermal gold
mineralization. The property is located in within the Stikine Terrane, the locale for large Cu-Au deposits.
The property is underlain by similar lithologic units hosting these deposits and the Company believes
that it is one of the most exciting mineral properties available in British Columbia."
Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the
exploration programs on behalf of the Company and is responsible for and approves the contents of this
release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking
opportunities in the resource sector. Decade holds numerous properties at various stages of
development and exploration from basic grass roots to advanced ones. Its properties and projects are
all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the
Company assets and developments, visit the Company website at
www.decaderesources.ca
. For
investor information please call 250- 636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
"Ed Kruchkowski"
Ed Kruchkowski, President
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release."
"This news release may contain forward-looking statements. Forward-looking statements address future
events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements."
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/246297