Hi-View Resources (CSE:GXLD) has acquired the Jim property in northern British Columbia’s Toodoggone district, Canada, adding a historically prospected target to its portfolio of gold, silver, and copper assets.
The property adjoins Thesis Gold & Silver’s (TSX-V:TAU) land package and lies near Evergold’s (TSX-V:EVER) Golden Lion Project.
Hi-View acquired a 100% interest from an arm’s-length vendor for 100,000 common shares and C$5,000 ($5,045) cash. The seller retains a 2% net smelter return royalty, with Hi-View entitled to buy back 1% for C$1 million.
Jim hosts the historical ‘JM’ showing, first documented in 1988, and a gossanous zone — weathered, iron-stained rock — that is visible at surface.
CEO Nick Horsley says the acquisition adds to Hi-View’s existing land position in the district.
“The property is surrounded by Thesis Gold & Silver’s northern land package. With a gossanous zone visible at surface, we believe this could indicate hidden sulphide mineralisation at depth, possibly associated with a copper porphyry system,” Horsley says.
“We see this as a target worth following up on.”
Historical observations recorded malachite staining and related chalcopyrite along fracture planes, as well as quartz and calcite stringers within narrow shears.
Hi-View says those features, together with reported gold and silver values, suggest an epithermal hydrothermal system. The company considers stronger mineralisation beneath the surface gossan a possibility requiring further investigation.
The area has only been prospected historically. Hi-View identifies further mapping and analyses as the next steps in assessing the target.
Exploration funding in place
The acquisition follows Hi-View’s recently closed C$2.3 million charity flow-through placement to fund exploration at its BC projects.
The company increased the offering from C$1.5 million before closing, as previously reported by Mining.com.au. The financing proceeds are earmarked for eligible Canadian exploration expenses, rather than acquisition payments.
Hi-View Resources is a Canadian explorer with more than 27,910 hectares of wholly owned and optioned holdings in the Toodoggone region, including the Golden Stranger Project, Lawyers claims, and Borealis Project.
Write to France Pinzon at Mining.com.au
Main image: Hi-View Resources
