Dawson Gold Project
About
The Dawson Gold project is comprised of four separate claim blocks; Touleary, Dan Man, Green Gulch and Shamrock, where exploration has been conducted at various levels for the past three years. Significant advancements have been made at the Touleary property and the Dan Man property.
Location
The Dawson Gold Project is located in west-central Yukon approximately 100 km south of Dawson City, in what is now referred to as the White Gold District. The Touleary and the Green Gulch properties are both immediately adjacent to the Kinross Gold Corporation White Gold property (acquired from Underworld Resources Inc. on June 30, 2010). The Shamrock property is located on the north side of the Yukon River, approximately 5 kilometres northwest of the White Gold property. The Dan Man property is adjacent to the northern boundary of the Kaminak Gold Corporation Coffee claims.
Ownership
By agreement dated June 9, 2009, as amended March 26, 2010 and December 5, 2011, ATAC Resources Ltd. granted Arcus an option to acquire a 50% interest in the Touleary, Dan Man, Green Gulch and Shamrock mineral properties, collectively referred to as the "Dawson Gold Project". Effective March 1, 2012, Arcus exercised the option by: (i) incurring an aggregate $3,500,000 in exploration expenditures on the properties; (ii) paying ATAC an aggregate $185,000; and (iii) issuing ATAC an aggregate 1,000,000 Arcus shares.
Following the exercise of the option, Arcus and ATAC each hold a 50% interest in the Dawson Gold Project.
Highlights
Work by Arcus at the Touleary property in 2011 resulted in the first volcanogenic massive sulphide ("VMS") discovery in the White Gold District. A five hole diamond drill program (935 m) targeted a 300 by 100 m area within a 1,200 m long zone of coincident magnetic and intermittent gold-in-soil geochemical anomalies. VMS mineralization was intersected in all five holes, with the most significant intersection containing 7.18% copper, 116 g/t silver, 3.55 g/t gold and 4.30% zinc over 2.25 m (see October 4, 2011 Arcus news release).
For more information on the Dawson Gold Project, please visit Arcus Development Group Inc. at http://www.arcusdevelopmentgroup.com/s/DawsonGold.asp.