Projects

Quesnel Trough, BC

QUEST Airborne Geophysics Survey Click to enlarge

Property Status

Kiska acquired, through staking, interest in 7 properties covering 330 km2 within the Quesnel Terrane Alkalic Porphyry Belt. Kiska has an option to earn 100% in the Auddie property subject to a 1% Net Smelter Return.

Xstrata Canada Corporation signed an option agreement to earn a 51% interest in the property by completing a preliminary assessment and spending $3,000,000 by December 31, 2013. In addition, Xstrata must spend no less than $250,000 in each calendar year commencing in 2010. Xstrata may earn an additional 24% (total 75%) by completing a feasibility study and incurring no less than $20 million in feasibility study expenditures which must be completed before the tenth anniversary of Xstrata earning its 51% interest. Xstrata completed MMI (mobile metal ion) soil geochemical surveys on the properties that were followed up by tighter spaced sampling.

Property Overview

Copper-Gold Porphyry Targets in British Columbia's Prolific Quesnel Terrane

Kiska Metals Corporation acquired in excess of 330 square kilometres of claims in the Quesnel Trough, central BC, home to the Mt. Milligan and Lorraine deposits, and most recently, Serengeti's Kwanika discovery (328 metres of 0.6% copper and 0.7 g/t gold in drilling).The Quesnel Trough project covers 17,676 hectares, and is located in the Cariboo Mining Division of British Columbia. A total of seven properties comprise the project and are located from 15 kilometres south of Prince George to 40 kilometres north of Fort St. James.

The claims lie within Geoscience British Columbia's (GBC) Quesnellia Exploration Strategy (Quest) study area, in central British Columbia. In 2007, GBC conducted $5.75 million in regional airborne magnetics, EM and gravity geophysical and ground geochemical surveys.

Opportunity

To participate in the exploration of new geophysical alkalic porphyry targets located within an area of British Columbia with excellent infrastructure and proximity to resource communities.

Highlights

Kiska targeted portions of the Quesnel Trough with high amplitude magnetic anomalies with signatures similar to those of the Kwanika and Mt. Milligan alkalic copper - gold porphyry deposits. Several of these targets lie in areas with significant glacial cover and represent new blind targets that Kiska believes will potentially benefit from the interpretation of new geoscience data through the Geoscience BC QUEST survey.

Kiska conducted a detailed helicopter airborne magnetics survey over its' 7 target areas greatly improving the resolution of the magnetic high anomalies on each of the targets. During 2008, Kiska completed surface reconnaissance programs over all seven target areas. Alteration consistent with porphyry copper - gold mineralization systems was encountered on three targets including anomalous copper geochemistry in rocks on two of these targets and anomalous copper and gold geochemistry in soil samples from one target area. The remaining geophysical targets all occur beneath till or young basalt cover.

Previous Work

In 2009 Xstrata conducted exploration on all the Kiska optioned properties, which consists of 7 blocks, 34,570 Ha total. The program conducted an additional $200,000 worth of exploration. The main focus of the 2009 program was the collection and interpretation of 1824 MMI samples. MMI surveys produced robust Cu+\-Au anomalies on the Eye, Magnus NE, Hat, Axis and Mags properties.

In 2010, a 4 hole program of diamond drilling totaling 245 m tested targets on 3 of the claim groups. Xstrata employed a small scale self-propelled drill rig with the intent of testing bedrock to a very shallow depth beneath the glacial till cover. Results included traces of copper mineralization as well as some porphyry style alteration.

Xstrata planned to continue the shallow drilling program in 2011.