Argus Metals Corp.
Projects

Hyland, Yukon

Hyland Gold Property Highlights

  • New Discover at CUZ Zone; HY-11-37 -4.5 m grading 1.93 g/t gold from 25.9 to 30.4 m and 4.5 m grading 0.65 g/t gold from 10.5 m to 15 m
  • Main Zone NI 43-101 Compliant Resource 361,692 oz gold (12,503,994 tonnes of 0.90 g/t Au) 2,248,948 oz silver (12,503,994 tonnes of 5.59 g/t Ag) -open to expansion
  • Additional deposit drill targets to the south at "CUZ ZOne" and to teh north in historic stratagraphic hosted gold in limestone target.
  • Open to expansion on over the strike of 16 additional kilometers of the Quartz Lake trend.
  • Regional potential with the Ike (JV to Great Bear Resources) and Tina Claims with a total over 2000 claims through the Hyland District.

    Location

    The Hyland property is situated in the Watson Lake Mining District of South Eastern Yukon Territory, Canada. It is located 70 kilometres northeast of the village of Watson Lake and is centered at latitude 60º 30' N and longitude 127º 50' W. The property is accessible by helicopter, float plane and 4x4 roads.



    History

    Lead-zinc-silver mineralization was first discovered in the late 1800's at the site of what is now known as the McMillan deposit immediately southwest of Quartz Lake. The McMillan property abuts the Hyland property directly to the west. Recent exploration of the Hyland property began with the staking of the Porker claims in 1973 by the Hyland Joint Venture (comprised of Marietta Resources International Limited, Mitsubishi Metal Corporation and Messrs. Landon T. Clay and Harris Clay) to cover a lead-zinc exploration target associated with siderite-pyrite replacement mineralization in limestone beds. Initial work consisted of geological, geophysical and geochemical surveys and four diamond drill holes were completed in 1975.

    Option Agreement

    Under the terms of the Option Agreement, the Company has the option to earn a 100% interest in the Property from Victoria Gold Corp. (TSX.V:VIT) by making cash payments totalling $175,000CAD, issuing 800,000 Company shares and completing $2,250,000CAD in exploration work over 3 years. The Property will be subject to a 2.5% capped net smelter return royalty with a provisional buyback of 1.5% for $1,000,000CAD. The TSX Venture Exchange approved the Option Agreement on December 17, 2009.

    Land

    Hyland is 100% owned by StrataGold and consists of 299 claims that cover 5,497 hectares.

    Argus Metals Corp has also staked an additional 1782 claims, expanding on the original Hyland Gold claim block and staking two similar geochemical anomalies; The Spartan and Spy claim blocks.



    Geology

    The Hyland property lies near the southeast end of the Tintina Gold Belt, which extends across central Alaska and Yukon. In recent years a number of important lode gold deposits have been identified within the belt such as Pogo, Donlin Creek, Fort Knox, Brewery Creek, Dublin Gulch and Ketza. Although these include a wide variety of mineralization types, all are related to Middle or Late Cretaceous granitic bodies.

    The Hyland property area is underlain by sedimentary strata consisting predominantly of phyllite and quartzite with interbedded grit, quartz-feldspar pebble conglomerate and limestone. These rocks belong to the Lower Proterozoic "Grit Unit" or the partially correlative Lower Cambrian "Phyllite Unit", both are part of the Hyland Group. All rocks have undergone lower greenschist facies regional metamorphism.



    Mineralization

    Gold mineralization can occur within the granitic intrusions but it is more commonly hosted by adjacent or overlying wall rocks. Most of the gold deposits occur within zones of low magnetic susceptibility and exhibit a lithophile geochemical signature characterized by anomalous concentrations of gold, arsenic, bismuth and tungsten.

    The geologic setting and styles of mineralization found on the Hyland Property are similar to the 18 million ounce Telfer gold-copper deposit in Australia. The mineralization is of the distal intrusion-related type within the Tintina Gold Belt model. These include silicification and silica replacement style mineralization with stockwork vein style mineralization, as well as stratabound sulphide replacement of graphitic argillites in the hanging wall and of limestone in the footwall, of the main mineralized structure.



    2012 Exploration Program


    The Company has reviewing and compiling all the available historical data in preparation for an aggressive 2011 exploration program. The program is designed to test the potential of the sulphide and oxide gold mineralization. The 2012 exploration program is expected to include:
  • 5000m of Diamond Drilling on 6 discrete target will start in mid-June,
  • expand the resource at the new N.I. 43-101 complian "Main Zone" deposit,
  • expand on 2012 "CUZ Zone" DIscovery,
  • expand on the historic gold in pyrite target north of the Main Zone,
  • Drill test the almost 2 square kilometers of additional soil anomalies proximal to the Main Zone and CUZ ZOne"
  • Further work on the full 24 km strike of the QUartz Lake trend will be based on Market conditions.

    The Hyland Gold Project exploration camp has been upgrade and expanded to support the 2012 summer Hyland Drill Program. With a significant amount of required equiment pre positioned in Camp, the comany looks forward to an early and effience start up to the 2012 exporation season.