Similar to Eskay Creek - Read on...The following is from the BVG 43-101 Report with the (highlights being mine). This new zone of high-grade is exciting when added to what we already know about the project and Eskay Creek...
"Some of the mineralization on the Homestake Ridge property is thought to be similar in age and genesis to the ore at Eskay Creek (2.56 Mt grading 48.4 g/t Au, 2152 g/t Ag, 4.2% Zn, 2.5% Pb, 0.5% Cu) which is about 115 km to the NNW."
"The property is considered to be in a location which is favourable for the deposition of “Subaqueous Hot Spring Au-Ag” type (Alldrick, D.J., 1995). These types of deposits, of which the Eskay Creek deposit located about 115 km to the north is the notable local example, are formed by “hot spring” fluids vented into a shallow water environment and are similar in some respects to both volcanogenic massive sulphide deposits and hot spring Au-Ag deposits. Both stratabound (syngenetic) and vein or replacement mineralization are present and contain values in Ag, Au, Cu, Pb, Zn, As, Sb and Hg. These deposits may contain large textureless massive sulphide pods, finely laminated stratiform sulphide layers and lenses, reworked clastic sulphide sedimentary beds, and epithermal style vuggy breccia veins with coarse sulphides and chalcedonic silica. It is thought that the geology at Homestake Ridge is broadly analogous to, and that some of the mineralization encountered is geochemically similar to mineralization at Eskay Creek."
"The present target zone at Homestake Ridge has been historically described as epithermal, related to the Early Jurassic FHP intrusive activity. It may, however, be better described as being related to the “Subaqueous Hot Spring” or Eskay Creek type. Most of the mineralization is generally conformable to the stratigraphy and consists of Au, Ag, Cu (chalcopyrite) bearing silica-replacement(?) zones within an extensive halo of pyrite-sericite alteration in volcanic and volcano-sedimentary rocks. The minerals sphalerite, galena, and barite have been noted as have chlorite and Kspar alteration. Some of the sulphide and rock textures noted are suggestive of syngenetic or diagenetic mineralization in an active submarine environment. Such an environment does not necessarily preclude the formation of silica-replacement zones, pyrite-sericite alteration, or Kspar formation."