Nevada Gold Project For Sale

Iron Point Project

Mine Details

Commodity: Gold
Location: Nevada, USA
Terms: Lease Purchase Option
Price: Contact Vendor

Seller Website

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The Iron Point project is made up of 178 lode claims along the Battle Mountain -- Eureka Gold Trend in Humboldt County, Nevada (Figure 1). The project is located at the intersection of the Battle Mountain-Eureka and Getchell gold trends. Miranda assembled a land package on the intersection of these trends, through staking and a simple lease. Major open pit and underground gold mines, within a 25 mile (40 km) radius of Iron Point, contain more than 40 million ounces of gold. Miranda Gold infers that additional gold discoveries are likely to be made in this region.

The Iron Point District has been explored for a variety of metals by other operators. Previous drilling results on the project include 70 ft of 0.012 oz Au/t from 385 to 455 ft (21.3 m of 0.412 g Au/t from 117 to 138 m) in hole NP-34.

In late 2006, Miranda Gold signed a binding Letter of Intent with White Bear Resources Inc ("White Bear"). Under the terms of the Letter of Intent, that is to be replaced by a definitive option agreement, White Bear can earn a 60% interest by spending US$2,500,000 in qualifying expenditures over five years. White Bear terminated the agreement in April 2010.

Miranda Gold is currently seeking a joint venture partner for this project. A data package is currently available for review.


The Iron Point project is located in the Iron Point mining district approximately 26 miles (42 km) east of Winnemucca, Nevada. Road access is excellent as the project is bisected by Interstate 80. The project occurs within Newmont Mining Corporation fee checkerboard (in reference to Public Land Survey Sections).

The project is on the Battle Mountain-Eureka Gold Trend, a northwest alignment of bulk-mineable gold deposits. Sediment hosted gold deposits in the area include Lone Tree, Marigold, Phoenix, Twin Creeks, Getchell, Turquoise Ridge, Pinson and Preble.


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Iron Point occurs at the general intersection of the northeast-striking Getchell Trend, the larger northwest-striking Battle Mountain-Eureka Trend, and a third sub-trend that Miranda Gold infers to exist between Lone Tree and the Iron Point district. Further, the Iron Point district is within the northeast-striking "Humboldt Lineament" which may exert basement or crustal-scale controls to mineralization where it crosses the Independence, Carlin, and Battle Mountain-Eureka Trends. The regional geology of the Iron Point district is dominated by folded and faulted lower Paleozoic (Cambrian) sedimentary rocks which are structurally overlain by upper Paleozoic (Pennsylvanian-Permian) rocks. The Iron Point and Golconda thrusts are structural features that complicate the geology of the district.

On the Iron Point project, rocks of the Ordovician Comus and Cambrian Preble Formations are exposed at surface. These rocks are significant gold hosts at the Pinson, Getchell and Twin Creeks mines. The Cambrian rocks are in fault contact with Ordovician Valmy Formation.
component.

Work from a previous exploration program suggests the Comus Formation at Iron Point may be distinct from Comus in other parts of the Getchell Trend. Portions of the stratigraphy are lithologically very similar to the Ordovician Hanson Creek and Silurian Roberts Mountain Formations observed on the Carlin and Cortez Trends. Silurian age graptolites have been collected from laminated silty limestone with phosphatic lenses. These patterns are similar to rocks assigned to the Roberts Mountain Formation, however the Iron Point rocks have been included in the Ordovician Comus Formation. The "Comus" Formation at Iron Point may represent a similar depositional environment to the Hanson Creek and Roberts Mountain Formations. Ordovician and Silurian age rocks of the Hanson Creek and Roberts Mountain Formations respectively are ore hosts for profitable gold mines within the Cortez Trend, which is an important component of the larger Battle Mountain-Eureka Trend. This stratigraphic sequence should be drill tested on Iron Point project.

Intruding the sedimentary package is a Cretaceous age equigranular granodiorite, and numerous northwest to west northwest-striking feldspar porphyry dikes and sills. Cross cutting relations indicate at least two distinct igneous pulses on the project. A crude metal zonation is inferred from mapping and previous drilling. Base metals coincide with hornfelsed rocks, whereas gold mineralization appears to be on the hornfels margin to slightly outboard of the thermal alteration.

Braided strands of the Getchell fault system are inferred to project south directly through the Iron Springs district. This projection is substantiated by United States Geological Survey (USGS) multi-sensor airborne geophysical programs conducted in 1988.

Notable alteration at Iron Point includes broad zones of decalcified and silicified limestone, and clay-pyrite rich felsic dikes and sills. USGS quadrangle mapping suggests a distinctive and repeated pattern of west-northwest and north-northwest inflections and intersections of multi-phase dike-filled fault zones that suggest local dilational pull-apart fault blocks created from a lateral component of movement on west-northwest-striking faults. These fault intersections and the margins of intrusive rocks appear to be the favored locus for alteration and metals within the Iron Point district.

North northwest-trending map-scale fold patterns parallel to north-northwest-trending "Getchell Trend" fault extensions are a notable feature in the district. At least locally, some of the north-northwest faults show reverse movement and extensional reactivation. Significant alteration is also observed in Comus rocks related to a reverse fault that is mineralized and trending northwest under young basalt.



Miranda Gold is currently seeking a joint venture partner for this project. A data package is currently available for review.