Mystery Island Property, Northwest Territories

Mystery Island IOCG Property is located in the Great Bear Lake area of the Northwest Territories, approximately 430 kilometers north of Yellowknife, NWT.

The property comprises of 12 claim blocks with a total area of approximately 21,830 acres. This property adjoins the Alberta Star Development Corp. (TSX-V symbol: ASX) project which is being explored for iron-oxide, copper, gold, silver and uranium (IOCG) targets.

The Olympic Dam or iron oxide-copper-gold (IOCG) model is proposed as the main exploration target for the Mystery Island property in this part of the Great Bear magmatic zone. The Olympic Dam deposit at Roxby Downs in the Gawler craton of southwest Australia consists of dike-like, hematite-rich diatreme breccias in granite and felsic volcanics, and has a reported resource of 2.32 billion tons of 1.6 per cent copper, 0.5 gram per tonne gold, 3.5 grams per tonne silver and 0.4 kilogram per ton U3O8.

The Great Bear Lake area contains three historic mining camps, which are in close proximity and are geologically connected. These are the Port Radium, the Contact Lake and the Terra camps. The mines in these camps produced intermittently from 1930 until 1985 over 48 million ounces silver, 15 million pounds of U3O8 and 7,000 tons of copper (Strand, 1996).

Features of the mineralization and geology in the Great Bear Magmatic Zone indicate similarities with Olympic Dam IOCG. Four constants postulated by Skirrow (1999) exist in both areas: tectonothermal evolution, host sequence composition, existence of two contrasting hydrothermal fluid types that allow for co-existence of magnetite and hematite, and a setting within a deep, crustal-scale fault system.

This and other similarities conclude that the Mystery Island property is situated in a geological setting that has the potential to host high-unit-value polymetallic mineralization associated with large-tonnage IOCG-type deposits, as well the potential to host Echo Bay-type high-grade, lower-tonnage U3O8-Ag mineralization.

Alberta Star plans a major exploration program, including a 15,000-meter drill program, in the upcoming field season.

Related documents

→ Geology & Magnetic Field Map -
→ Property Map - Great Bear Lake