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Montana Gold/Silver Project w/ Historical Resource

Resource avg 0.6+ oz/t gold and 3.68 oz/t silver

Mine Details

Commodities: Gold, Silver
Available Terms: For Sale
Price: 350000
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Summary

Historical resource on one vein 116,728 tons 0.631 oz/ton gold, 3.68 oz/ton silver which can be traced for 3000 feet and remains open along strike and depth. Previous exploration concluded it “highly probable” that 1+ million tons exist in the vein and 9 other veins discovered. Project was set for production in the late 80s before financing fell through. Owner financing offered.

Location and Access

The Williams Gold project is located in Granite County, Montana approximately 25 road miles northwest of Phillipsburg.

Description

Historical resource on one vein 116,728 tons 0.631 oz/ton gold, 3.68 oz/ton silver which can be traced for 3000 feet and remains open along strike and depth. Previous exploration concluded it “highly probable” that 1+ million tons exist in the vein and 9 other veins discovered. Project was set for production in the late 80s before financing fell through. Owner financing offered.

Geology

The project targets multiple quartz-filled fissure veins within an extensive east-west trending shear zone. The fissures have been found to vary from about four feet up to twelve feet wide. Vein contacts are very sharp and distinct.
Metals contained within the various veins include gold, silver, lead, copper, zinc and molybdenum, with occasional traces of tungsten, chromium and vanadium; the gangue is all quartz. Ore minerals identifiable in hand specimen are: pyrite, chalcopyrite, galena, tetrahedrite, sphalerite, and molybdenite. The pyrite is auriferous.
In addition to the South Bagdad vein 9 other gold-silver bearing veins were discovered with all samples exceeding detection limits. Some of these veins such as the “China Wall,” which exposed over 850 feet along strike with widths of 6 to 12 feet, are quite large and should expand the resource potential significantly.

History

Discovered in 1893, the property was initially developed through a series of pits, trenches, and underground workings focusing on the North and South Bagdad veins. Early development included approximately 800 feet of underground drifts and a 50-foot vertical raise. Activity waned, and the property remained largely inactive until it was restaked in 1947 by the Montana Mining and Engineering Company, with limited further work conducted.
In February 1987, Mark V Petroleum & Mines Ltd. optioned the property and initiated an extensive exploration and development program. The company rehabilitated 460 feet of existing underground workings and added over 1,300 feet of new drifts and crosscuts. Significant effort was dedicated to the South Bagdad vein, where underground drifting and sampling identified high-grade mineralization, including zones averaging over 1.3 ounces per ton gold and 8.09 ounces per ton silver.
Underground diamond drilling was conducted to explore the vein at depth, successfully intersecting the vein approximately 163 feet below current workings and confirming its continuity and increasing thickness. Surface exploration included detailed geological mapping and sampling, leading to the discovery of additional veins such as the “China Wall,” which exposed over 850 feet along strike with widths of 6 to 12 feet. These efforts have significantly advanced the understanding of the property's mineral potential and set the stage for future development.
Mark V planned to put the project into production in the late 1980s with a target of producing 50,000 ounces of gold and 184,000 ounces of silver in the first year but after the fall in the gold price before the final permits were approved financing also fell through.

Additional Information

This project is for sale on an installment sale with the terms: Price: $350,000, Year 1: $40,000, Year 2: $55,000, Year 3: $65,000, Year 4: $90,000, Year 5: $100,000 with 2% nsr.

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