Worldstock Property

Overview

The Worldstock property is a copper-gold porphyry prospect located 95 km north of Kamloops, BC. The property lies 8 km to the west of Highway 5 and recently constructed logging roads provided access to target areas on the property. The Worldstock property is 25 km west of Taseko Mines Ltd.'s Yellowhead Copper Project, which boasts an 820 million tonne reserve with an average grade of 0.28% copper.

The 1,700 hectare property is underlain by volcanic flows and tuffs of the Lower Jurassic Nicola Group which have been intruded locally by Lower Jurassic Quesnel Suite diorites and monzonite stocks and dikes. Feldspar porphyritic monzonite dikes encountered in 2001 diamond drilling cut andesitic rocks and are genetically and spatially related to copper mineralization.

The Worldstock property has only seen one drill program. 7 short holes totaling 888 metres were drilled in 2001, with all holes intersecting anomalous copper and porphyry style alteration. The abundance of quartz-sericite-pyrite alteration encountered in drilling suggests the margins of porphyry system was likely drilled. Diamond drill hole WS2001-1 intersected 0.37% copper over 10.4 metres, where copper was shown to genetically and spatially related to hornblende-feldspar porphyry dikes.

Results from limited historical drilling warrant follow-up. Shallow RC drilling to vector towards a porphyry center followed by deeper diamond drilling is recommended.

Geology

Several alteration assemblages characteristic of porphyry copper +- gold systems have been identified on the property. These include, in order of abundance, propylitic, phyllic, argillic and potassic alteration assemblages. Feldspar porphyry dikes locally exhibit strong K-feldspar alteration in mineralized zones, while phyllic alteration predominates in the area around the Worldstock showing and historical drilling.

Alteration assemblages encountered in drilling suggest the margin of a porphyry system was drilled.

Cu +- Au +- Ag mineralization occurs as quartz-pyrite-chalcopyrite veins and pyrite +- chalcopyrite as disseminations associated with fractured zones. Pyrite predominates with appreciable copper values only encountered proximal to feldspar porphyry dikes. Localized lenses of chalcopyrite have been encountered in historical trenching.

Exploration Targets

Historical drilling intersected Cu +- Au +- Ag mineralization associated with hornblende-feldspar porphyritic monzonite dikes. Alteration and mineralization encountered in the 2001 drilling, along with IP chargeability data and multiple geochemical datasets, suggest the margin of a porphyry system was drilled. Only 7 holes averaging 127 metres have been drilled on the property, all of which intersected anomalous copper mineralization.

Three discrete, roughly 500 m diameter ovate magnetic anomalies are enveloped by high chargeability immediately north, east and west of the 2001 drilling. These, along with other geochemical and IP anomalies warrant drill testing.

Between 2011 and 2014, 987 silt samples were collected across the property and to the northwest, covering an area of 90 sq km. Large, focused copper and molybdenum anomalies demark the Worldstock porphyry prospect.


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