projects > ty property
Pacific Bay's TY property, consists of 38 mineral claims covering an area of 794 ha, is situated in southeastern Yukon, approximately 135 km northwest of Watson Lake. The property covers a small area of volcanic and sedimentary rocks of the Finlayson Lake Belt, an assemblage of rocks with hosts a number of significant polymetallic, volcanogenic massive sulphide (VMS) deposits, and is favorable for VMS exploration. The nearest known VMS deposit to the TY property is the Wolverine deposit (6.2 Mt grading 12.7%Zn, 1.3%Cu, 1.6% Pb, 370.9g/t Ag and 1.76 g/t Au, (Bradshaw et al, 2001) located 35km to the north.
Past exploration on the TY property has included: geological mapping, soil geochemical survey, airborne and ground geophysical surveys, and diamond drilling; a majority of this work was carried out by Westmin Resources Ltd. during 1996 and 1997.
Westmin Resources optioned the Ty ground in 1995 and spent $250,000 on a drill program, believing that the Ty property had potential for Wolverine style mineralization. Results were encouraging, including the discovery of extensive alteration and anomalous base and precious metals. However, Westmin dropped its option as metal prices declined. Pacific Bay subsequently optioned the Ty property to Atna, which spent $50,000 on the property. Atna refocused its own exploration efforts on gold in Nevada and did not complete work commitments under the agreement consequently, Pacific Bay's interest reverted back to 70%. In 2010, Pacific Bay acquired Atna's 30% of the project in exchange for a 1% NSR. Pacific Bay mow controls 100% of the project.
In light of the renewed interest in precious and base metals, the Finlayson area will be once again be the focus of serious exploration projects. The nearby Wolverine deposit, which is now controlled by Expatriate after buying Atna's minority stake, is considered to be one of the highest-grade massive sulphide deposits in the world. The Ty property is underlain by similar geology and has the potential to host the same style of deposit as the Wolverine.