projects > craze creek property
Craze Creek Property (British Columbia) Pacific Bay's Craze Creek Property is located in the Cariboo Gold Belt in central British Columbia, 15 miles south of International Wayside's Bonanza Ledge gold deposit along the favorable "Rainbow-Baker" contact.
History: The Cariboo Gold Camp
The Cariboo region has been recognized as a major gold belt since 1859, when placer miners discovered placer gold in the Williams Creek area, the present site of Barkerville. The first major lode gold deposit was discovered in 1929 at the northeast end of Jack of Clubs Lake, now the site of Wells, BC. Almost all of the lode gold production in the belt has been from the Cariboo Gold Quartz, Island Mountain and Mosquito mines. The belt has produced more than 81 tonnes of placer gold and 37 tonnes of lode gold (Rhys, 2000).
Deposit Types
The Craze Creek Property is located in a similar stratigraphic position to the productive mines in the Wells area. The Mosquito Creek, Island Mountain and Cariboo Gold Quartz deposits at Wells have recorded production of some 3 million tons of ore grading 0.4 oz/ton gold. The ore bodies occur as a large number of discrete, relatively small deposits over a strike length of 4.5 km at or near the contact of the 'Baker Member' (Struik's Downey succession) and the 'Rainbow Member' (Struik's Hardscrabble Mt. Succession).
Until very recently two types of mineralization were recognized; gold-bearing quartz veins within the Rainbow Member and massive pyrite replacement bodies in or near the Baker - Rainbow contact. (Termunde & Glover report, May 2003)
The Company and prior operators have explored the Craze Creek Property (formerly Nugget Mountain property) with strong gold drilling results (refer to Termunde & Glover report, May 2003). The Craze Creek property covers an integral portion of Bonanza ledge stratigraphy that has been traced by joint venture partner Golden Cariboo, to the southeast of the Bonanza ledge zone with significant documented gold occurrences including the Switchback, Hibernian, Jewellery Shop and B zone (northwesterly trending occurrences exposed over a strike length of approximately one kilometre with reported values of 16 grams per tonne gold, 49 grams per tonne silver over 6.1 metres and 23 grams per tonne gold over four metres), and underlain by key features favourable for the discovery of Bonanza-ledge-style mineralization, such as the presence of the magnetite porphyroblastic unit (occurs in the hanging wall of the Bonanza ledge zone), proximity to northerly trending faults and to gold bearing quartz veins.
Joint Venture Partner: Golden Cariboo Resources Ltd.
Pacific Bay's Craze Creek Property is currently optioned to Golden Cariboo Resources Ltd. Golden Cariboo can acquire up to 60% of the Craze Creek Gold property by spending $150,000 in exploration over three years (June 2004).
