The Yukon Conservation Society says a transaction between two companies offers a telling glimpse into the value of quartz mineral claims in the Peel River watershed.

Karen Baltgailis, the society's executive director, issued a press release Friday regarding the sale of 112 claims for $1.

In her statement, Baltgailis suggests the $1 fee reflects the true value of mineral claims in the Peel watershed.

"This confirms Miningwatch Canada's October 2012 report that showed that the mining claims in the Peel watershed are almost worthless,” Baltgailis said Friday.

This morning, however, she acknowledged she has no proof the $1 did not simply reflect a transaction fee in the re-arrangement of assets between two affiliated exploration companies.

Baltgailis pointed out the claims originated with Archer Cathro & Associates, were transferred to Zinccorp Resources Ltd. and are now being sold to Strategic Metals Ltd., a company managed by Archer Cathro.

"I don't pretend to be an expert on the business dealings of junior exploration companies,” she said.

"But it just flagged for me there is something going on with these claims that does not look very valuable.”

There was no answer at Zinccorp's Vancouver office this morning.

Archer Cathro declined comment on the conservation society's release.

The society's executive director said the apparent low value of the mineral claims counters the Yukon government's claim that it can't offer maximum wilderness protection for the Peel watershed because it couldn't afford to pay compensation for all the mineral claims.

Baltgailis and others have suggested in the past the staking rush in the Peel from 2004 to 2010 was more about milking investors than it was about staking true value in the remote region.

The land use planning exercise for the Peel watershed is the subject of fiery debate in the Yukon.

The four affected First Nations, the conservation society and the Canadian Parks and Wilderness Society (CPAWS) are calling for maximum protection, as recommended by the Peel planning commission.

The government, which has the final say because 98 per cent of the planning area is territorial Crown land, has so far indicated it can't accept the planning commission's recommendation.

The recommendation, the government says, is one-sided, and does not provide the necessary balance between wilderness protection and the interests of the mining industry and others.

The final round of public consultation on the recommendation closed Feb. 25.

The government has not yet released any summary of the last round of consultation, nor has it yet posted the written submissions it received.

CPAWS issued a statement last week suggesting their records indicate more than 7,500 individuals came out during the last round in support of maximum wilderness protection.

Baltgailis said if the government had not placed a moratorium on the collection of the annual $100 fee or the equivalent value of work to keep the claims in good standing, it's her belief far fewer than the 8,400 claims in the Peel would still be registered.

The government implemented the moratorium on the collection of fees while the land use planning exercise continued, along with a moratorium to prevent any further staking of claims during the final planning stages.