Daylight Property

Daylight Property BC, Canada

Introduction:

The Daylight Gold Property covers 1550 hectares (which includes the Toughnut Property) of mineral claims and crown granted mineral claims located near Nelson, British Columbia. The property overlies several historic, high-grade, gold mines that operated in the late 1890’s and early 1900’s. The historic mines have been owned by several individuals for many years and little exploration has been done since the mines closed in 1949.

History:

The Daylight property was initially staked and worked in 1893 following discovery of the renowned, high-grade, Silver King Copper-Silver Mine located 500 metres to the south. The property is host to a number of vein, stockwork and porphyry style gold and gold-copper occurrences including the historic Starlight, Victoria-Jessie, Daylight-Berlin and Great Eastern mines. These four historic mines operated independently and intermittently but eventually were closed due to low gold prices in1949.

Historic mining results suggests the mineralization on the Daylight property is comprised of broad zones of low grade gold mineralization often surrounding high-grade gold veins of varying sizes. Previous exploration by Apex Resources defined four gold bearing targets on the Daylight property that require exploration. These are the Starlight Shear Zone, the North Star Shear Zone, the Great Eastern Porphyry Gold Zone and the Silver King Gold Corridor.

The Starlight Shear Zone:

The Starlight Shear Zone is host to the Starlight, Victoria-Jessie and Daylight-Berlin gold mines. This thru going shear strikes 125o and dips 65o SW. The 45 metre wide shear centres on a series of auriferous, en echelon, quartz veins often surrounded by a low grade network of smaller veins on both sides of the principal quartz vein. Associated sulfides, consisting of pyrite with minor amounts of arsenopyrite and chalcopyrite occur both in the quartz veins and in the surrounding altered shear zone. The zone has been traced by IP for 3.0 km along strike to the southeast.

In November 2013 Apex completed a prospecting and sampling program along the Starlight shear zone. The program successfully located and sampled the historic Starlight, Victoria-Jessie and Daylight-Berlin gold mine workings. The highlight of the sampling program was the Starlight Gold Vein which averaged 10.3 g/t gold and 68.15 g/t silver over a 60.0 metre vein length. Assays from the Starlight vein and associated waste rock dumps are tabled below:

Sample No

Starlight Vein Sample Description

Au (g/t)

Ag (g/t)

Cu (%)

SD13-01

Grab from waste dump at west end of Starlit vein

11.6

53.4

> 1.00

SD13-02

Grab from waste dump 10m east of sample SD13-01

4.6

11.7

0.56

SD13-03

3.0 m chip along Starlight vein -18-21m

2.4

39.1

> 1.00

SD13-04

1.9 m chip across Starlight vein at 22.5m

14.0

41.3

> 1.00

SD13-05

1.9m chip across Starlight vein at 28.0m

25.6

175.2

0.34

SD13-06

Composite sample of waste rock dump at 33.0m

3.9

39.1

0.13

SD13-07

1.65m chip across Starlight vein at 39.0m

1.3

66.8

0.05

SD13-08

0.50 m chip across Starlight vein at 47.0m

3.9

14.7

0.14

SD13-09

1.55 m chip across Starlight vein at 50.0m

17.0

66.6

0.23

SD13-10

0.60 m chip across Starlight vein at 60.0m

1.9

11.6

0.32

*Sampling at the Starlight Vein is preliminary and results do not necessarily reflect the true average gold or silver content of the vein.

The November sampling program successfully located the Victoria-Jessie Vein workings 600 metres southeast of the Starlight mine. along the Starlight shear zone The workings could not be accessed due to collapse of the portals. Assays for three surface samples taken from the quartz vein and waste rock dumps found at the entrance to the mine are tabled below.

Sample No

Victoria Vein Sample Description

Au (g/t)

Ag (g/t)

Cu (%)

SD13-11

0.85 m chip across Victoria vein at portal

28.1

18.5

0.01

SD13-12

Grab from Victoria quartz vein at portal

37.0

5.30

-

SD13-13

Grab from pyritic schist on waste rock dump

0.10

0.50

0.01

The November sampling program successfully located the Daylight mine workings 1.5 km southeast of the Victoria-Jessie mine along the Starlight shear zone where they were exposed by recent logging operations. The historic shaft was collapsed and could not be sampled. Assays for three samples taken from the exposed wall rocks and waste rock dumps near the historic shaft are tabled below.

Sample No

Daylight Vein Sample Description

Au (g/t)

Ag (g/t)

Cu (%)

SD13-14

Grab from Waste Dump at Daylight Shaft

5.30

1.5

0.04

SD13-15

Grab from wall rock to Daylight vein

0.10

0.4

-

SD13-16

Grab from Waste Dump 30 metres from Shaft

21.40

11.4

-

The recent prospecting program was carried out under winter conditions that forced the termination of the program before the property could be fully assessed.

The North Star Zone:

The North Star zone lies 500 metres north of the Starlight Shear Zone. The silicious North Star shear zone is 54 metres wide and has a strike of 130o and dips 67o SW. The zone trends parallel to the Silver King intrusive contact which lies 60 metres to the northeast. The zone was explored with 7 long trenches in 1939 and continuous chip sampling gave a reported grade of 1.37 g/t gold across the entire 54 metre width. In 1980 Asarco tested the zone with a single diamond drill hole. The hole, DDH80-1, assayed 0.88 g/t gold across 33.5 metres.

The North Star shear zone appears similar to the Starlight zone and associated sulfides consist of pyrite with minor amounts of arsenopyrite and chalcopyrite. The zone gives a prominent IP chargeability anomaly that has been traced 2.0 km southeast where it joins with the Starlight anomaly.

Great Eastern Porphyry Gold Zone:

The Great Eastern Porphyry Gold Zone lies immediately northwest of the historic North Star Shear Zone workings. The zone follows the southwest contact of the Silver King Intrusive with the adjacent volcanic rocks. This target is a strong untested gold soil anomaly that is 1.1 km long and up to 500 metres wide located 100 metres west of the historic Great Eastern Gold Mine. Exploration by Apex has demonstrated that the adjacent, historic, Great Eastern Workings consists of a stockwork of high grade gold veins within a low grade gold stockwork. A 2002 drill hole completed on the Great Eastern showing assayed 0.25 g/t Au over its entire length of 154 metres. Soil geochemical results suggest the possible presence of much higher grade mineralization beneath this overburden covered area immediately to the West of the historic mine workings.

Silver King Gold Corridor:

The Silver King Gold Corridor is located within the main Silver King Intrusive along the eastern margin of the Daylight property. The target is a string of strong gold soil anomalies that follow the trend of the intrusive. The soil anomaly is 1.0 km long and up to 300 metres wide. A single drill hole near the north end of the soil anomaly intersected several gold bearing zones over a 90 metre section including 38 metre that assayed 0.33 g/t gold with a 10 metre section assaying 0.75 g/t.

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