Projects / IKE Selwyn Basin
In May of 2011, Great Bear announced the signing of an Option Agreement with Argus Metals Corp. (TSX.V: AML, “Argus”) to earn up to a 75% interest in the IKE Selwyn Basin Gold Project, Hyland District, Yukon.
The IKE Gold Project is located in the Selwyn Basin of the Yukon, an emerging highly prospective gold district characterized by recent major Carlin-type sediment hosted gold discoveries made by ATAC Resources Ltd. (TSX-V: ATC) at the Rau Gold project.
Analytical work by Argus in 2010 defined an 80 square kilometer area with discrete areas of coincident anomalous arsenic and gold in regional stream sediment samples. The project area is underlain by carbonate lithologies and an intrusive suite.
The phase I exploration program will commence in June and will consist of detailed stream and soil sampling, mapping and trenching to quantify drill targets.
The IKE project has the potential to host a sediment-hosted gold system similar to Nevada style gold deposits in the Carlin District. In addition to positive reconnaissance geochemical survey results and favourable rock types, the IKE property also hosts spatially related lead-zinc showings.