Aldever has a 100% interest in the Margurete Gold Project, located in the Phillips Arm gold camp, South Western British Columbia. The Project covers an area of ~ 862ha, located on Phillips Arm, approximately 120km NW of Vancouver. The property is easily accessible by water-taxi and logging roads that terminate at Picton Point on Cordero Channel.
A short-hole program at Margurete, undertaken by Falconbridge in 1986, was successful in identifying gold bearing veins, which are believed to be enriched from the same mineralizing events of the Doratha Morton and Alexandria mines. The drill intersections exceeding 0.10oz/ton are summarized below:
The Doratha Morton and Alexandria mines, both located in the central part of the Phillips Arm gold camp, were the two largest gold producers in that camp. Production from the Doratha Morton mine from 1898 to 1899 was 4,434 ounces of gold and 10,222 ounces of silver from 9,707 tons of ore. The Alexandria mine produced about 773 ounces of gold and 1,340 ounces of silver from 1,915 tons of ore from 1898 until 1940. Gold prospects in the project area are alkalic intrusion-associated gold- and silver-bearing veins. They contain pyrite and a white-grey telluride, probably sylvanite, in quartz and occupy shear-induced dilatent zones in a panel of volcanic and intermediate intrusive rocks. Rocks variably enriched in molybdenum are exposed adjacent to the southwest margin of the shear zone hosting the Alexandria and Doratha Morton gold occurrences. (J. Ostler P.Geo, 2003)