The Midas property lies along a regional, northerly trending contact zone between volcanic and sedimentary rocks known to be associated with precious metal mineralization (especially on the Del Norte property of Teuton Resources adjoining due north). Willoughby Creek, a placer bearing stream, cuts through the northern extent of the property. Drilling in the “3 Ounce” zone has returned values running to 47.7m of 1.77 g/t gold and 10.4 g/t silver.
Ownership of the Midas property is presently 25% Silver Grail and 75% Teuton Resources Corp. It is located approximately 17 miles east of Stewart, British Columbia, in the upper drainage area of the White River system. Nearest road access is about five miles to the east, at the western end of a network of logging roads connecting to Highway 37.
A light-weight, reverse circulation drilling program will proceed in the 3 Ounce zone when finances are available. It is thought that these kinds of drill programs, which cost less than half as much as conventional diamond drilling, will be ideal for assessing the type of mineralization found on the property.