Work History

Staked as A cl 1-4 (Y56881) in Jun/70 by J. Kozic etc, who performed soil sampling later in the year.
In Apr/2003 S. Ryan staked Thistle cl 1-12 (YC23686) 10 km to the southeast. Ryan carried out a regional soil sampling program over ridge tops later in the summer. Ryan staked Thistle cl 13-14 (YC30507) 5 km to the southeast in Apr/200 and carried out grid soil sampling later in the year.
In Ap/2007 Ryan optioned his neighboring White Gold property to Underworld Resources Ltd (Minfile Occurrences 115O 165, 166 etc.). The discovery of gold mineralization in 2008 on the Golden Saddle and Arc zones on the White Gold property led to a regional staking rush. Between April and Jun/2009 Underworld staked Panda cl 1-36 (YC8663), 37-115 (YC86739), cl 117-246 (YC86976) and cl 247-292 (YC87355) 5 km to the southwest. As part of the option agreement Underworld also optioned Thistle cl 13-24 from Ryan (Thistle cl 1-12 had expired in 2005).
Restaked within VG cl 1-120 (YC87453) in Jun/2009 by S. Ryan for Underworld Resources Ltd. During Jun/2009 Ryan also staked Black cl 1-6 (YC87573) and cl 39-115 (YC87611) to the north and east and Blue cl 15-28 (YC88237), cl 29-60 (YC95533) and cl 1-12 (YC95887) to the west and northwest as part of his option agreement with Underworld. In 2009, Underworld Resources carried out ridge and spur soil sampling and reconnaissance scale geological mapping and rock sampling programs on the Panda, VG, Black and Blue claim blocks.
In Mar/2010 Kinross Gold Corp announced a proposed acquisition of all shares of Underworld Resources with the aim of acquiring control of the White Gold deposit (Minfile Occurrence #1150 165) and Underworld’s various exploration properties located in the Dawson region of the Yukon. In Apr/20010 Kinross announced its successful acquisition of 87% of the issued and outstanding common shares of Underworld Resources. Kinross immediately took steps to acquire the remaining shares of the company and on June 30, 2010 took Underworld Resources private resulting in Underworld Resources becoming a wholly-owned subsidiary of Kinross.
As a privately held company Underworld is not required to release exploration results. According to Yukon Exploration and Geology 2010, Kinross spent $14 000 000 exploring on both the White Gold and JP Ross properties (Minfile Occurrence #115O 160) located approximately 31 km to the northeast. Property-wide geological mapping, airborne geophysical surveys, soil sampling survey and over 25 000 m of diamond drilling was completed on the two properties.

Capsule Geology

The geology of the Stewart River Area was remapped by J. Ryan and S. Gordey (2004) of the Geological Survey of Canada beginning in 2000 as a component of the Ancient Pacific Margin NATMAP Project. The NATMAP Project is an interagency project initiated by the Geological Survey of Canada, Yukon Geology Program (now Yukon Geological Survey) and British Columbia Geological Survey Branch to understand the composition, relationships and metallogenic of poorly understood pericratonic terranes lying between the ancestral North American margin and those known with more certainty to be tectonically accreted. The Stewart River component focuses on the Yukon-Tanana terrane, comprising complexly deformed mostly (?) Paleozoic meta-igneous and metasedimentary rocks. In 2005 S. Gordey and J. Ryan released a geological compilation map for the Stewart River area. The map units generally remained the same as the 2004 geology map but age dates were changed to reflect new dates obtained through geochronology data.
J. Ryan reported that the Stewart River area is underlain by twice-transposed, amphibolite-facies gneiss and schist of mostly (?) Paleozoic age. These are intruded by younger plutonic rocks (Jurassic, Cretaceous and Eocene) and overlain by upper Cretaceous volcanic rocks. Metasiliclastic rocks are widespread and dominated by psammite and quartzite, with lesser pelite and rare conglomerate. Preliminary detrital zircon geochronology and geochronology for plutonic rocks constrain the siliclastic rocks to the Middle Paleozoic. Amphibolite interdigitates with and stratigraphically overlies the siliclastic rocks. Marble horizons ((?) reefs) occurs within the amphibolite and siliclastic rocks. Orthogneissic rocks with diorite, tonalite and granodiorite protoliths intrude both the siliclastic and amphibole assemblages; it is interpreted as a subvolcanic intrusive complex.
The occurrence is underlain by a large mid-Cretaceous granitic intrusion which intrudes undivided Devonian to Mississippian amphibolite and orthogneiss that mainly underlies the VG, Blue and Black claims. The Panda and Thistle claims are underlain by Devonian to Mississippian amphibolite and quartz-mica-schist which has been intruded by Devonian to Mississippian orthogneiss. Two regional faults cross cut the region.
Ryan staked the Thistle claims to explore for copper mineralization similar to that discovered at the Lucky Joe (Minfile Occurrence 115O 051) occurrence located approximately 30 km to the north. Soil sampling on Thistle cl 1-12 did not return any anomalous values. Grid soil sampling on Thistle cl 13-24 outlined a weak copper anomaly and several spot gold anomalies.
Following the acquisition of S. Ryan’s White claims, Underworld Resources incorporated the Panda, Thistle, VG, Black and Blue claims into their White Gold property. The company has released few results from their 2009 exploration program carried out on this portion of the White Gold property. SRK Consulting’s Mar/2010 technical report (available on SEDAR) written in support of Kinross Gold’s takeover bid contains a map displaying the results of the 2009 soil sampling program. The program identified one new gold geochemical anomaly/target called the “Lynx” in the southwest portion of the Panda claim block. No details of grade or size were released.
Since its takeover of Underworld Resources, Kinross Gold has not publicly released any detailed results from the White Gold project.

References

GORDEY, S.P. AND MAKEPEACE, A.J. 2003: Yukon Digital Geology, version 2.0, S.P. Gordey and A.J. Makepeace (comp); Geological Survey of Canada, Open File 1749 and Yukon Geological Survey, Open File 2003-9 (D).

GORDEY, S.P. AND RYAN, J.J. 2005. Geology, Stewart River Area (115N, 115 O and part of 115J), Yukon Territory; Geological Survey of Canada, Open File 4970, scale 1:250 000.

KINROSS GOLD CORP., May/2011. Web Site: www.kinross.com.

MORTENSEN, J.K., 1990. Geology and U-Pb geochronology of the Klondike district, west-central Yukon Territory. Canadian Journal of Earth Sciences, vol. 27, p. 903-914.

RYAN, J.J. AND GORDEY, S.P., 2002: Bedrock geology of Yukon-Tanana terrane in southern Stewart River map area, Yukon Territory; Geological Survey of Canada, Current Research 2002-A1, 11 p.

Ryan, J.J. ET AL., 2003: Update on bedrock geological mapping of the Yukon-Tanana terrane, southern Stewart River map area, Yukon Territory; Geological Survey of Canada, Current Research 2003-A9, 7 p.

Ryan, J.J. AND GORDEY, S.P., 2004; Geology Stewart River Area (Parts of 115N/1, 2, 7,8 and 115O/2- 12), Yukon Territory; Geological Survey of Canada, Open file 4641, scale 1:100 000.

RYAN. S., Oct/2004. Assessment Report #094489 by S. Ryan

RYAN. S., Apr/2005. Assessment Report #094557 by R. Zuran.

SRK CONSULTING (CANADA) INC. Mar/2010. White Gold Property, Dawson Range, Yukon, Canada. By L Weirshauser, M Nowark and W. Barnett. (Project Number 2CU003.000).

SHIVES, R.B.K., ET. AL. (2002): Airborne multisensor geophysical survey, Stewart River area, Yukon Territory, Phase 1 and 2 (parts of 115N and 116B); Geological Survey of Canada, Open file 4311. (also Yukon Exploration and Geological Services Division, Open File 2002-17D).

UNDERWORLD RESOURCES LTD, News Release, 16 May/2007, 20 Oct/2009, 11 Mar/2010, 26 Ap/2010, 30 Jun/2010.

YUKON EXPLORATION AND 2009, p. 24-25, 55, 58, 2010, p. 26, 61, 65.