Work History

Staked as the FBH cl 1-48 (Y44962) and EX cl 1-6 (Y45010) and cl 7-8 (Y44436) in Dec/69 by Fawn Bay Development Company Ltd and Hanna Gold Mines Ltd, which conducted reconnaissance grid soil sampling and limited geological mapping in 1970.

Restaked as Han cl 1-8 (YC98845) in Jun/2009 by ATAC Resources Ltd which collected 3 lines of augered soil samples across the length of the claim block later in the summer.

In Nov/2009 Silver Quest Resources Ltd staked Sol cl 1-84 (YD08611) on the north and east sides of the Han claims.

In Dec/2009 Atac Resources sold the Han claims to Silver Quest Resources Ltd which incorporated them into their surrounding Boulevard property (Minfile Occurrence # 115J 050).

In Jun/2010 Silver Quest Resources staked BDW cl 1-10 (YD51801) and cl 11-104 (YD49101) west and south of the Han claims. In 2010 Silver Quest carried out a large exploration program on the Boulevard property with most of the work centred around the main occurrence. The company carried out reconnaissance soil sampling around this occurrence.

In 2011 Silver Quest collected approximately 5 000 soil samples, and completed detailed geological mapping, surficial terrane mapping and airborne magnetic and radiometric surveys on the main Boulevard property. In addition approximately 6 000 m of diamond drilling was completed to test various anomalies. It is unknown how much work can be attributed to this occurrence.

In Oct/2011 Silver Quest Resources signed a binding letter of agreement with New Gold Inc whereby New Gold would acquire all outstanding shares of Silver Quest Resources. As part of the agreement Silver Quest Resources’ Yukon based mineral properties were to be spun off into a newly formed Yukon-focused precious metals exploration company, McIntyre Minerals Inc. In Nov/2011 the companies agreed to an ammenment to the agreement whereby the name of the new precious metal company would be changed to Independence Gold Corp.

GEOLOGY

The area was reconnaissance mapped by D. Templeman-Kluit in 1974. Gordey and Makepeace (2003) released a geological compilation that covered this area. In 2006, M. Colpron of the Yukon Geological Survey released a Tectonic Assemblage map which included this portion of the Yukon-Tanana Terrane. Recently J. Ryan, C. Roots and others of the Geological Survey of Canada has been conducting geological mapping in the area as part of a joint project with the Yukon Geological Survey. Various maps and other products are tentively scheduled to be pubically released in 2012.

The occurrence area is located south of the headwaters of Independence Creek in west-central Yukon. The occurrence straddles the contact between polydeformed and metamorphosed quartzite, psammite, pelite, marble and schist rocks and intruding granite assigned to the mid-Cretaceous Dawson Range batholith. Colpron assigned the metamorphic rocks to the Devonian to Mississippian aged Snowcap assemblage but recent work by J. Ryan and other suggest that these rocks belong to the slightly younger Permian aged Klondike Schist assemblage. Younger dactic dykes are known to intrude both the metamorphic and granitic rocks.

The original FBH and EX claims were staked during a staking rush which followed the announcement in 1969 that the Casino deposit (Minfile Occurrence #115J 028) located approximately 40 km to the southeast was confirmed as being a copper-molybdenum porphyry deposit. The Casino deposit lies at the southeast end of the Dawson Range batholith which hosts this occurrence however recent age dating shows that the deposit is actually hosted by the Late Cretaceous Patten porphyry.

Reconnaissance scale grid soil sampling carried out on the FBH and EX claims outlined a concave shaped copper soil anomaly measuring 200 m wide and 1 200 m long centered on the northwest side of a peak located above the headwaters of Independence Creek. The companies originally thought the anomaly was underlain by granitic intrusive but recent mapping confirms the main soil anomaly is underlain by metamorphic rocks.

The Han claims were staked overtop of the anomaly and soil sampling completed by Atac Resources confirmed earlier results.

Silver Quest Resources has concentrated their exploration and drilling programs around the main Boulevard occurrence (Minfile Occurrence #115J 050) located approximately 12 km to the southeast. Regional scale soil sampling completed in 2010 outlined a 20 km long trend called the “Boulevard Trend” that hosts numerous gold, arsenic, antimony and molybdenum soil geochemical anomalies. The Boulevard Trend is a northwest-southeast corridor that extends across the Boulevard property and includes the newly discovered Sunset, Vegas and Hollywood soil anomalies. This occurrence lies within the trend near its the southwest boundary. Limited data released by the company shows that the occurrence area hosts several arsenic (> 11 ppm) and gold (> 90th percentile/ 10 ppb) soil anomalies. Soil sampling across the western part of the trend is sparse thus it is unclear if these anomalies are related to the Boulevard Trend or another potential source.

As of the end of November 2011, Silver Quest Resources has not publically released any exploration results from their 2011 exploration season.

REFERENCES

ATAC RESOURCES LTD AND SILVER QUEST RESOURCES LTD, Mar/2010. Assessment Report #095254 by H. Smith.

FAWN BAY DEVELOPMENT COMPANY LTD and HANNA GOLD MINES LTD, 1970. Assessment Report #060610 by P.H. Sevensma.

MINERAL INDUSTRY REPORT 1969-70, p. 37.

SILVER QUEST RESOURCES LTD, Feb/2011. Assessment Report #095391 by D. Baker.

SILVER QUEST RESOURCES LTD. News Release. 17 Dec/2009, 3 Jun/2010, 13 Jul/2010, 15 Sep/2010, 17 Jan/2011, 18 Jan/2011, 1 Jun/2011, 12 Sep/2011, 17 Oct/2011, 7 Nov/2011.

SILVER QUEST RESOURCES LTD. Dec/2011. Web Site: www.silverquest.ca.

TEMPLEMAN-Kluit, D.J., 1974. Reconnaissance geology of Aishihik Lake, Snag and part of Stewart River map-areas, west-central Yukon; Geological Survey of Canada, Paper 73-41, 97 p. (including preliminary maps 16-1973 (115JK), 17-1973 (115H) and 18-1973 (115N)).
 

YUKON EXPLORATION AND GEOLOGY 2009, p. 27, 2010, p. 32, 58, 64.

Assessment Reports that overlap occurrence