Summary:
The Spanish Mountain Gold (“SMG”) Property occurs in the Cariboo Gold District (CGD) of south-central BC and includes the Spanish Mountain Gold and Phoenix deposits as well as related showings and prospects.
Mineralization
The most significant mineralization on the SMG Property is contained within the SMG and Phoenix deposits, which are both sedimentary-hosted vein (SHV) orogenic gold deposits. There are several other SHV gold exploration targets on the Property that are here referred to as “SMG-like” and the Property occurs within a historical placer producing area. Prospecting and, to a lesser extent, drilling have returned rare occurrences of other mineralizing styles like polymetallic vein and alkalic porphyry.
Spanish Mountain Gold Deposit
The Spanish Mountain gold (SMG) deposit is a bulk tonnage, sedimentary-hosted and vein (SHV) orogenic system that is hosted in metasedimentary rocks and tuff of the TMVSR formation. Gold mineralization is controlled by stratigraphy and a N-S striking D3 brittle fault system that channeled auriferous fluids and provided access to permissive stratigraphic horizons. Gold mineralization occurred in at least two events; an early event during the transition from D1 ductile to D2 brittle deformation and a later D3 brittle one.
The SMG deposit comprises at least 11 lens- to pipe-like bodies that collectively form a gently north plunging pipe-like zone (Bahrami and Rabb, 2025) that is up to 1,700 m long, 800 m wide, and 300 m thick. Each of these 11 zones lies broadly parallel to stratigraphy or follows the intersection of stratigraphy with the D3 fault system. Individual mineralized bodies are moderately dipping or plunging as well as dry stacked and/or staggered along strike.
Gold mineralization occurs within most lithological units and along unit contacts, with the early-style mineralization preferring less competent rocks (e.g., argillite) and the late-style hosted in the more competent lithological units (e.g., tuff). In the Main Block of the SMG deposit, these lithological units range from 10 to 150 m in true width, strike NW-SE, and dip gently to moderately northeast with dips steepening toward the North and South faults.
Early gold mineralization is best developed along lithological unit contacts and within less competent rocks like black argillite or “knotted phyllite”. Mineralized zones typically show low angle transgressions to lithological units and/or contacts. Gold mineralization is disseminated and associated with pyrite and strongly deformed quartz-carbonate-pyrite veins. Higher grades are correlated with more strongly deformed, so-called “cataclastic”, argillite. Petrographic study of pyrite (Large et al., 2008) indicates that early mineralization occurred between the D1 and D2 events. Typical drill assay composites for early-style mineralization range from 0.1 to 1 g/t Au over 10 to 100 m of core width.
Late gold mineralization occurs within veins and sheeted vein arrays that are typically NE-SW to N-S striking and steeply NW to north dipping. Late veins contain relatively low amounts of Fe-carbonate and exhibit textures indicative of both shear and extension styles (Rhys et al., 2009). Shear veins are up to 2 m thick, are more continuous relative to extension veins, and inhabit brittle faults. Typical intersections of late-stage veins return core assay composites that range from 1 to 10 g/t Au over 1 to 10 m, locally with maximum grades of 241 g/t Au over 1.5 m.
Phoenix Deposit
The Phoenix deposit lies approximately 2 km due west of the SMG deposit and was discovered by SPA in 2006 with reverse circulation drill hole 06SPRC-343, which returned intervals of 0.23 g/t Au over 13.7 m and 0.31 g/t Au over 27.4 m (BCMEM, 2025). This deposit is, likewise, a bulk tonnage SHV orogenic system hosted in metasedimentary rocks and tuff of the unnamed marine rocks formation. Gold mineralization is pseudo-stratiform and centered on a steeply dipping north-south striking brittle fault that was the likely source of auriferous fluids. Most gold mineralization appears to be late-style quartz veins although early-style mineralization could also be present.
The deposit itself comprises at least three stacked, elongate, and lens-like bodies that, in plan view, measure approximately 1,500 m in length, from north to south, and 300 to 400 m in width. Each lens ranges from 10 to 70 m in thickness and all three are developed over approximately 100 to 200 m of stratigraphy. Together, these three lenses are sub-horizontal to gently northeast-dipping.
The north-south elongate direction of this deposit follows a subvertical and north-south striking D3 brittle structure named Evelyn’s fault. Rock types on the east side of the fault consist of intercalated mafic tuff and sedimentary rock units whereas the less mineralized west block consists only of intermediate tuff unit. Intercalated units in the east block range from approximately 100 to 200 m in thickness, strike broadly northwest to southeast, and dip towards the northeast at approximately 25 to 30.
Gold mineralization occurs within both metasedimentary and tuff units. Mineralized zones cut across stratigraphy at a low angle and consist mostly of late quartz veins oriented parallel to the broader trend of the zone. Early mineralization may be present but does not appear significant. All mineralized zones are strongly overprinted by brittle faulting.
Other SMG-Like Gold Prospects and Showings
Rock sampling and drilling have identified several other gold showings that are of a similar nature to the SMG deposit, including possible deposit extensions or as separate systems developed on other D3 fault systems. Individual showings may show either SMG early- or late-style mineralization and in some cases both.
Deposit Types
The main deposit type that occurs on the SMG Property is a subtype of the orogenic gold deposit style referred to as sedimentary-hosted and at least partially vein-controlled (SHV). Other deposit styles that are relevant to the Property include alkalic porphyry copper-gold, polymetallic vein, and placer gold deposits.