The Tay-LP property consists of 413 claims covering a 20-kilometre-long by four-kilometre-wide belt of gold prospects (7,880 hectares). The property has good road access, favourable gold geology, multiple exploration targets and strong potential to make new gold discoveries. Several million dollars have been spent on the property since its discovery in 1984, by companies including Cominco, Newmont and most recently Canarc Resource Corp. A National Instrument 43-101 compliant technical report, prepared by David Dunn, PGeo, and James Moors, PGeo, for Canarc Resource, and available on SEDAR, states that the Tay-LP property has good potential to host an economic replacement type gold deposit. The technical report, dated March 30, 2010, recommended three major phases of work. The first phase consisting of a 470-kilometre helicopter borne VTEM and magnetometer geophysical survey was completed in May, 2010, and successfully identified several new EM conductors and magnetic anomalies within prospective geological settings. Coronet is currently having an updated NI 43-101 report written, which will include the results of the 2010 airborne geophysical program and recommendations for further work.
British Colombia: Cariboo gold project (Cariboo district)
The Cariboo gold project comprises multiple tenure blocks totalling more than 4,500 hectares, which strategically targets the transitional or basalt siltstone of the Barkerville terrain. The Cariboo gold project shares multiple claim boundaries with Barkerville Gold Mines Ltd., which raised more than $65-million in 2017 for its adjacent project.
Reflective of emerging industry recognition of a mining district prospectively hosting multiple gold-bearing trends, significant land activity and consolidation have occurred within the area during 2018.
On May 2, 2018, Barkerville announced the maiden mineral resource estimate at a cut-off grade of 3.0 grams per tonne gold for the Cow and Island Mountain gold deposits in the region, being 1.6 million ounces of gold in the measured and indicated category and 2.16 million ounces of gold in the inferred category (see Barkerville news release dated May 2, 2018, “BGM defines Cow and Island Mountains maiden underground resource and Barkerville Mountain update”).
The Company’s Cariboo gold project has hosted historical gold production and offers immediate exploration targets. The project encompasses, among other focus areas, the underlying hardrock mineral rights to the past-producing Lightening Creek and Mostique Creek placer areas (see B.C. Minfile No. 093G009 and No. 093G060, respectively). In addition, it covers the Gem gold showing, a turbidite-hosted gold target (see B.C. Minfile No. 093G073).
The company is in the process of reviewing potential exploration programs targeting tenure adjacent to Barkerville for the summer of 2018.
British Columbia: Lac La Hache gold project (Cariboo district)
The Lac La Hache gold project represents exposure to a new, emerging gold exploration area of the Cariboo gold district, located northeast of 100 Mile House. The project comprises approximately 180 hectares of exploration ground situated on the north shore of Spout Lake, in close proximity to the recent discovery on the south shore of the lake by Engold Mines Ltd. The Lac La Hache project shares claim boundaries with both Engold, as well as Garibaldi Resources Corp., which is also actively exploring the region.
British Columbia: Pinto gold project
The Pinto gold project is a gold exploration target located in Southern British Columbia and is approximately 80.9 hectares in size. The property has been subject to historical exploration interest by multiple majors during the 1980s (see B.C. Minfile No. 082ENE19), including both Noranda Exploration Company Ltd. and Inco Ltd. Old workings in the area include historical adits and shallow open cuts. A grab sample taken by Inco in 1989 assayed 6.829 grams per tonne gold, and a chip sample from a one-metre width of stockwork assayed 4.6 g/t gold (see B.C. Minfile No. 082ENE19 and B.C. assessment report 19385).