High Potential Gold & Base Metals Projects
Oxbow Resources holds a 100% interest in the Bristol Gold Property. The property adjoins the Benboe/Bristol mine property to the south. The Bristol Gold project is approximately 12.4 miles east of the Bralorne-Pioneer property, rated as the foremost gold producer in British Columbia and sixth largest in Canada, with production of 129,169 kilograms (4,152,881 ounces) of gold and 29,581 kilograms (951,070 ounces) of silver (1899-1983 production statistics, BC Minfile).
In 2007 the historic Bralorne gold mine near Goldbridge was the focus of considerable underground drilling by Bralorne Gold Mines Ltd. Drilling tested the extension of the King vein and discovered the entirely new BK Zone within a large unexplored gap between the King and Bralorne Mines. (British Colombia Ministry of Energy, Mines and Petroleum, “British Columbia Mines & Mineral Exploration Overview 2007”) Like Bralorne Gold Mines, Oxbow Resources is applying new technology and geological reinterpretation to historically defined and underexplored projects in the area.
Bristol Gold Property
The 292 hectare Bristol Gold property is situated near the town of Lillooet
approximately 175 kilometres north east of Vancouver and near the mining communities
of Goldbridge and Bralorne, BC.
The Bristol mine workings occur in moderately rugged terrain along Tommy Creek at an elevation of approximately 1173 metres. The exploration target is a Bralorne-Pioneer style gold (silver) deposit, occurring as zones of high grade gold within broad shear zones containing low to moderate grade mineralization.
Gold mineralization occurring in the vicinity of the Bristol workings is hosted by 5 shear zones (East, H/W, Main, F/W and Tommy Creek), which are variably altered to quartz-carbonate-clay- pyrite-pyrrhotite-limonite. The shears usually carry low to moderate grade gold values, and in addition, sometimes carry high grade gold in steeply plunging structurally prepared dilatational zones.
Westmin Resources collected 183 soil samples that according to the 43-101 qualified geologist warrant follow-up based on the anomalous values of Au and Ag.
British Columbia’s Rich Mineral Resources
Mining is an important economic driver in British Columbia with production valued
at approximately $6 billion annually. Mineral exploration investment in British
Columbia soared to a record level of $416 million dollars during 2007, reflecting
B.C.’s outstanding position as a leading international jurisdiction for
mineral exploration activity and new mine developments. This is an increase
of 57% from the 2006 level. B.C. is estimated to account for about 17% of Canadian
mineral exploration investments during 2007, up from about 7% in 2000. (British
Colombia Mining and Minerals Division of the Ministry of Energy, Mines and Petroleum,
“British Columbia Mines & Mineral Exploration Overview 2007)
Exploration drilling, a strong indicator of activity and success, reached about 1.254 million m during 2007, up over 50% from the 830 000 m drilled in 2006. Tenure acquisitions during 2007 at 5.83 million hectares were roughly equivalent to 2006 levels.
A favorable regulatory process; competitive taxation policies; and proactive engagement between industry, governments, educational institutions, and First Nations have made BC’s mineral exploration and mining sector attractive to investors and beneficial to communities.
British Columbia ranks third in Canada for the value of its mineral and coal production with a forecast value of solid mineral production of $5.9 billion. There were 10 coal, 11 metal, 36 major industrial minerals quarries and mines, a number of placer mines, and more than 1100 aggregate pits in operation during 2007. (BC Ministry of Energy, Mines and Petroleum, “British Columbia Mines & Mineral Exploration Overview 2007”)
According to the NI 43-101 Report on Oxbow Resources’ Bristol Gold Property: “Adjoining the Bristol Gold Property to the south, gold mineralization on the Benboe/Bristol mine property is hosted by five parallel shear zones. The shear zones usually carry low to moderate gold content with some lenses or pipes of high-grade gold and/or gold-tungsten. All five known shear zones strike along Tommy Creek and through the Bristol Gold Property.
In 1989, Westmin Resources Ltd. completed a soil geochemical
survey on parts of the Bristol Gold Property. Results showed anomalous gold
values which are assumed to be related to an extension of the Benboe/Bristol
mine structures covered by shallow overburden.”