Gelum Resources is a company led by seasoned management in the mining and financial sectors. The Company is focused on two highly-prospective properties in BC. These assets include the Eldorado Gold Project (9028 hectares) located within the Bralorne/Bridge River gold district near Lillooet, which was host to host to one of the highest-grade, longest-producing mines in British Columbia., and the ML Copper-Gold project (8736 hectares) located in a prolific BC porphyry belt between Gibraltar and Mt. Polley mines near Williams Lake with excellent access and infrastructure.
The Eldorado Gold Project is located in the South Chilcotin Mountains, 79 km north of the town of Pemberton via a paved road. The area has been a focus in gold discovery since the Fraser River gold rush of the late 1850’s. A recent study of historical information which includes soil samples, geochem, geophysics, and the historical review of two drill campaigns; one by the Cinnabar Resources in 1985 and one completed by Gold Fields in 2011, confirms that the highest priority targets are yet to be drilled. Gelum Resources is targeting high-grade, gold-sulphide vein systems and/or breccias located along regional faults, with five high-priority geochemical targets identified (untested by historical drilling). An airborne geophysics programme (VTEM) was completed in early 2022 along with the first phase of a 3,000m drilling programme in the fall of 2022, with the remainder to be drilled summer of 2023.
The ML Project is a brownfields land position located 6 kilometres northwest of Mt. Polley, 28 kilometres east of the Gibraltar Mine and 6 kilometres southwest of Osisko's QR Deposit. The project has an outcropping porphyry and replacement mineralization but has only been sparsely drilled. Recently the Company has established early-stage targets based on the recent aeromagnetic survey, as well as historic till geochemical survey work. Historic sampling has yielded Up to 1.4% Cu and 0.648 g/t Au in rocks at the surface, with placer gold deposits present along northeastern and northern claim boundaries. About half the project is till-covered and has potential for significant buried mineralization.