Posted on behalf of GoldFinger

The Yukon, a territory in northwestern Canada, is one of the last frontiers for metals exploration. While most mining jurisdictions across the globe have been thoroughly picked over during the last century, the Yukon is still relatively underexplored and new discoveries are being made almost every year.

The Territory is known for its rich endowment of natural resources, particularly metals and minerals. This region is geologically significant due to its complex history and the presence of a variety of mineral systems that have developed over millions of years.

Metals and Minerals:

  • Gold: The Yukon has a storied history with gold, dating back to the Klondike Gold Rush. Modern exploration continues to find significant deposits, especially in regions like the Selwyn Basin and White Gold District.
  • Silver, Lead, and Zinc: Historically mined in the Keno Hill district, these metals continue to be explored and extracted in the territory.
  • Copper: The Dawson Range is particularly known for its copper deposits, which are a focus for ongoing exploration and development.
  • Nickel and Platinum Group Metals: The southwestern part of the Yukon has been identified for its potential in these metals, which are critical for various high-tech applications.
  • Critical Minerals: The Yukon also holds potential for rare earth elements (REEs), tungsten, tin, cobalt, antimony, and bismuth. These minerals are essential for modern technologies and green energy solutions.

The Yukon is an attractive destination for junior exploration companies, which make up a significant portion of the exploration investment. In recent years, substantial investments have been made in precious metals exploration, particularly gold. However, the region's potential for base metals and critical minerals is also gaining attention.

The biggest Yukon gold success story of the last several years is Snowline Gold (TSX-V:SGD). In 2021, Snowline made the Valley Discovery at its Rogue Project in the eastern Yukon. Then, in 2022 Snowline captured the market’s attention with hole 22-007 (2.3 grams/tonne gold over 283 meters from bedrock surface). Last month, Snowline delivered a maiden resource estimate (MRE) for Valley totalling 7.3 million ounces of gold at an average grade of ~1.5 grams/tonne gold.

Snowline Gold (Weekly)

Snowline’s success at Valley undoubtedly represents the great gold exploration success story in the history of the Yukon - Snowline’s consistently well-mineralized gold intercepts at Valley attracted a substantial investment from senior gold producer B2Gold (B2 owns a 9.9% stake in Snowline).

With a C$850 million market cap and C$72 million in the bank, Snowline is arguably the premier Canadian gold explorer. A remarkable transformation from a run of the mill junior explorer only 3 years ago.

Snowline was founded by Scott Berdahl with a portfolio of projects that were spun out from Scott and his father Ron’s family-owned prospecting company. Scott’s father Ron has been prospecting for mineral deposits across the Yukon for the last four decades. During that time he assembled a treasure trove of high quality mineral exploration assets. A select set of Selwyn Basin gold assets were vended into Snowline, however, there remained more than a dozen copper-gold and silver-lead-zinc assets in the Berdahl family portfolio.

Enter Yukon Metals Corp (CSE:YMC). Yukon Metals represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold's portfolio of primary gold assets. The Yukon is a top 10 global mining jurisdiction and the Yukon Metals portfolio consists of some of the most prospective exploration assets ever assembled in one publicly traded vehicle.

The 17 Yukon projects in the YMC portfolio are primarily copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The projects span 3 different stages of the mining project life-cycle including greenfield, drill-ready, and those with a drilling confirmed ore deposit. Meanwhile, 8 of the 17 projects host copper and gold, with the others hosting critical minerals such as silver, zinc, and tungsten:

Expo (VMS), AZ (porphyry copper), and Star River (polymetallic) are three of the most advanced projects in the YMC portfolio. In this piece I would like to focus on AZ due to its highly prospective nature and substantial property footprint.

AZ is located in southwestern Yukon near the Alaska Highway, giving it substantial location advantages relative to other more remote Yukon exploration projects.

AZ is situated in the Yukon-Tanana Terrane; The Yukon–Tanana Terrane (YTT) is a tectonic terrane that extends from central Alaska through central Yukon and into northern British Columbia, Canada and Southeast Alaska, USA. The YTT is a belt of significant Late Triassic to Early Jurassic Cu–Au and Cu–Mo porphyry deposits, such as Highland Valley Copper and Galore, of the Stikine Terrane and Quesnel Terrane extends into the Yukon–Tanana Terrane in Yukon; the Minto mine is an example.

The biggest copper porphyry discovery of the last year, Hercules Metals’ (TSX-V:BIG, OTC:BADEF) blind high-grade copper hit in hole 23-05 at Leviathan in southwestern Idaho, was located in the southern extension of the same porphyry belt in which is AZ is located.

View from porphyry-skarn outcrop at the AZ Project

The source of auriferous chalcopyrite bearing magnetite-epidote garnet skarn occurs in float on the property and has not been fully explored. Rock float assays returned an average of 10% copper, 126 g/t silver, and 7.08 g/t gold from four samples in 1993. YMC plans to conduct geophysics (IP survey) and more comprehensive soil sampling/mapping at AZ this summer, with the aim of defining high priority drill targets for 2025 drilling.

One of YMC’s nearly drill-ready projects is called Star River, located 50 kilometers due south of Ross River, Yukon. Star River is host to multiple showings of polymetallic carbonate replacement mineralization and quartz- sulphide veins first discovered in the 1950s. Remnants of underground and surface workings using historical exploration techniques are visible around much of the property and tied together with previously established access from the Ketza Mine road. The Star River Project is accessible by road from the Robert Campbell Highway and former Ketza Mine haul road.

Some of the known historical workings at Star River host semi-massive galena with minor sphalerite, tetrahedrite, chalcopyrite and jamesonite about 7.3 meters long which reportedly averaged 1028.5 g/t silver and 18% lead across an average width of 0.9 meters. Historical individual assays have recorded up to 17,142 g/t Ag. In particular, the Lap10 area is recorded as having a known strike length of 137 meters - It has a fairly continuous band of galena with a historically indicated grade of 12,000 g/t silver and 38% lead over a width of 1.07 meters for 137 meters length.

YMC recently announced that initial fieldwork conducted at Star River by YMC geologists observed additional outcropping mineralization not previously mapped in the vicinity of several of the historic workings. Further geochemical sampling and mapping programs this season will help to delineate these new areas of mineralization.

A detailed drone LiDAR topographic survey on the project has already been completed this season and interpretation is underway. Meanwhile, a gravity survey is set to commence shortly. The gravity survey will explore for dense and metalliferous drill targets, in addition YMC will conduct an electromagnetic survey to prospect for coincident conductive horizons. Simultaneously, a detailed geologic mapping and geochemical sampling program will be carried out.

Yukon Metals Corp co-founder Ron Berdahl at Star River July 10th, 2024

Yukon Metals has C$12 million in cash in its treasury according to the company’s most recent financials:

The share structure is well constructed with no founder’s shares and the lowest priced private financing round took place at $.30 per share.

The company’s cash position gives it plenty of runway to further explore its highest priority projects in 2024, with maiden YMC drill programs at AZ, Star River, and Expo all holding the potential for a transformative discovery.

Disclosure: Author (Goldfinger/Robert Sinn) has purchased YMC shares on the open market and may choose to buy or sell at any time without notice. Yukon Metals Corp. is a sponsor of Goldfinger Capital.

Disclaimer

The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. The stocks discussed in this article are high-risk venture stocks and not suitable for most investors. Consult Company SEDAR profiles for important risk disclosures.

This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.