Wellgreen Project Preliminary Economic Assessment ... - OTCIQ.com

7.0 GEOLOGICAL SETTING AND
MINERALIZATION
7.1 G EOLOGICAL S ETTING
7.1.1 REGIONAL G EOLOGY
The Property is located within the Insular Superterrane, which is mainly composed of
two older terranes (Wrangellia and Alexander) that were amalgamated at approximately
320 Ma. These terranes are composed of island arc and ocean floor volcanic rocks
with thick assemblages of overlying oceanic sedimentary rocks that range in age from
220 to 400 Ma old. Wrangellia has a package of platform-type limestones that are
several kilometres thick. The Insular Superterrane also hosts a 230 Ma old package of
volcanic rocks (the Nicolai Group) that hosts the Property, as well as the Windy Craggy
copper-cobalt-gold deposit in northernmost BC (Hart undated).
The Project is contained within the Kluane Ultramafic Belt. The Kluane Ultramafic
Belt is situated within the Wrangellia Terrane, which is a complex and variable
terrane extending from Vancouver Island to central Alaska (Figure 7.1). This terrane
is most commonly characterized by widespread exposure of Triassic flood basalts
and complementary intrusive rocks. The ultramafic intrusives of the Wrangellia
Terrane represents one of the largest tracts of nickel-copper-PGE mineralization in
North America, second in size to the Proterozoic Circum-Superior Belt (Thompson to
Raglan) (Hulbert and Stone 2006).
The exposed base of the Wrangellia is comprised of Pennsylvanian to Permian arc
volcanic rocks and Permian sedimentary rocks of the Skolai Group and includes the
Hasen Creek Formation and the Station Creek Formation. The Skolai Group is
unconformably overlain by the Middle and Late Triassic Nikolai Group consisting of
basalt flows with minor intercalated limestone. Mafic and ultramafic intrusions are
common throughout the area and have been mostly intruded near the contact
between the Station Creek and Hasen Creek formations. These sills, which form the
Kluane mafic-ultramafic complex, are thought to be part of a sub-volcanic system
that fed the Nikolai Formation flood basalts (Israel 2004). The intrusions commonly
have associated magmatic sulphide concentrations of nickel-copper-PGE and gold
(Figure 7.2).
The Kluane Belt is bound on the northeast by the Shakwak Fault, which is a major
terrain boundary. The fault’s latest movement is described as dextral (right-lateral).
Prophecy Platinum Corp. 7-1 1193460500-REP-R0001-02
Wellgreen Project Preliminary Economic Assessment,
Yukon, Canada