Summary
Project consists of 4,100 acres of land consisting of 24 patented mining claims and 188 unpatented claims. Total area in excess of 6.6 square miles, located in Western Montana near the city of Missoula.
Prior to 1941, the property had 7 producing gold mines. The producing mines were shut down pursuant to War Production Board Limitation Order L-208 because gold was not a strategic metal for the World War II effort.
Historic production from placer and underground mining is in excess of 1.5 million oz. of gold.
Making the Garnet Mining District, in which the Garnet Mine is located, the third most productive gold mining district in the state of Montana.
In addition to the funds to be expended for further exploration and underground development to gain access to proven reserves, there was in excess of $12,000,000 expended since 1988 by three previous operators.
Temporarily Off Market
Location and Access
40 Miles East of Missoula, MT in the Garnet Mining District
Description
There was $12,000,000 expended since 1988 by two previous operators.
There have been more than 62,000 feet of drilling conducted to date. Pegasus Gold drilled 49,350 ft. from 1989 to 1990. Additional drilling in from 2008 to 2010 totaled 13,200 ft. in 2008, 21,840 ft. in 2009 and 34,858 ft. in 2010.
It is management’s opinion that based on previous drilling and other exploration methods, it is highly possible that the property could contain up to a 1,000,000 oz. of gold, with credits in silver and copper. The four historically-productive vein systems are open on each end and at depth. As of this date there has been no historical mining conducted below the 500 ft. oxide zone. There has only been one drill hole below 500 ft., which intersected the Nancy Hanks vein at 925 ft. and reported a favorable mining width and an average of .25 opt of gold.
Projected probable ore is in excess of 1,000,000 oz. of gold and there has been no exploration or development work undertaken below 500’. Similar mining operations in comparable rock types in the Coeur d’ Alene mining district are down over 9,000 ft. As of this date, there has been 14 different gold-bearing mineralized zones defined by previous drilling. All prior drilling, trenching and geophysical surveys have been integrated into Vulcan 3-D mine-modeling software for the express purpose of helping define additional future core-drilling targets. There are four primary gold-bearing structures or vein systems defined on the property:
The Nancy Hanks vein
The Willie vein system
The Lead King vein system
The Tostman vein system
There is an early 43-101 independent report and nine major geological and engineer reports and a complete library dating back to 1890s.
The Company has 7,000 files that utilize Vulcan Sub-Surface 3-D geologic modeling software (“Vulcan”). All historic and current drill data has been inputted to facilitate future core-drilling programs and mine planning in anticipation of development and future production. WGM Engineering, of Missoula, Montana conducted a Lidar air survey of the project area. This survey has a tolerance of 2’ or less and has provided Commonwealth Resources with an extremely accurate and current topography, along with aerial photography of the Garnet Property that has been imported to Vulcan. Many of the historic mine workings, roads, and various other features in the area have been digitized and imported into Vulcan. These historic workings help indicate the potential location of veins and structures mineralization with gold, in addition to mine-planning activities. Using all available data, Vulcan is being used to continue to create mineralized material zones of interest for further define exploration targets, mine development plans, ore reserve reports, mine production planning and geologic mapping.
The high-grade zone identified in the Nancy Hanks vein appears to be one of the best targets for initial mine development. The Company has completed a mine plan for this mineralized zone. The potential for this mineralized zone to continue to the northwest and tie into the Tostman zone is consistent with the area’s geological model. The potential strike length of this structure could exceed 2,000 feet. Exploration drill data at both ends of this structure have resulted in the preliminary definition of mineralized material that may be within economically-mineable grades.
The Lead King/Red Cloud vein system lies approximately 600 feet north of the Willie vein system and it dips more shallowly than the Willie vein at approximately 30-35 degrees. Historic reports and maps available to the Company indicate continued mineralization below the old workings. The Company’s consultants have determined the bottom of the old workings to be at about the same elevation as the upper portion of the Willie vein. The company has completed an initial mine plan for the Willie vein. The plan indicates that both the Lead King vein and the Willie vein could be developed from the same access. The Company anticipates permitting and drilling nine additional core holes to determine the continuation of this structure below the lowest level mined historically. Infill drilling will follow if significant mineralization is encountered during the initial program.
Geology
Behre Dolbear Report https://static1.squarespace.com/static/6564d36bdadebb4032879886/t/657769034c6fa53164d8920d/1702324487980/Behre-Dolbear-Report.pdf
Garnet Overview by Klepfer Mining Services
https://static1.squarespace.com/static/6564d36bdadebb4032879886/t/6578b0016ec029263fe5a458/1702408212021/Garnet-Overview-Klepfer-Mining-Services.pdf
Gold-bearing Quartz Veins in the Grant Hartford Corporation Claim Block
https://static1.squarespace.com/static/6564d36bdadebb4032879886/t/6577691f84a81c61c771bdf7/1702324512299/Supplemental-7.pdf
Mine Development and Exploration of the Garnet District
https://static1.squarespace.com/static/6564d36bdadebb4032879886/t/6578b09648d499505c2d28a1/1702408346792/Mine-Development-Plan-2020.pdf
43-101 Report by CDM Smith, Inc.https://static1.squarespace.com/static/6564d36bdadebb4032879886/t/6578b1691ede0c2f54012f72/1702408558920/43-101.pdf
Garnet Project by Millennium GeoSciencehttps://static1.squarespace.com/static/6564d36bdadebb4032879886/t/6578d12167208428d48a3176/1702416685768/Millennium-GeoScience-Structural-Report.pdf
