Silver Star: exploration done in the late 80s/early 90s determined there was a 250,000 oz gold deposit there. They found good silver too but did not confirm a resource to my knowledge. There is a small (around 5 acre) patented claim not included in this sale and I have not contacted the owners about acquiring it. Mineralization is concentrated in a fracture zone 40 to 50 feet wide. Recorded production between 1925 and 1975 is 691 ounce gold, 6,286 ounces silver, 6,791 pounds copper, and 30,788 pounds lead.
Last Chance (Wall Canyon): This was originally an antimony mine but a gold company came in and performed extensive sampling and drilling to delineate a gold resource and found other metals including nickel, cobalt, and copper as well. They didn't delineate a resource for those metals but found 1,220,000 tons averaging 0.025 oz/ton gold after drilling and inferred another 5-10 million ton resource outside the area drilled. What's more interesting is that others, including majors, believed it could be an even larger resource but they ran into permitting issues. Hopefully the permitting situation will get better, and I believe it will especially if the multi-metal angle is emphasized.
The Silver Star property is located in Lemhi County, Idaho
The Last Chance (also called Wall Canyon) property is in Nye County, Nevada
Silver Star: exploration done in the late 80s/early 90s determined there was a 250,000 oz gold deposit there. They found good silver too but did not confirm a resource to my knowledge. There is a small (around 5 acre) patented claim not included in this sale and I have not contacted the owners about acquiring it. Mineralization is concentrated in a fracture zone 40 to 50 feet wide. Recorded production between 1925 and 1975 is 691 ounce gold, 6,286 ounces silver, 6,791 pounds copper, and 30,788 pounds lead.
Last Chance (Wall Canyon): This was originally an antimony mine but a gold company came in and performed extensive sampling and drilling to delineate a gold resource and found other metals including nickel, cobalt, and copper as well. They didn't delineate a resource for those metals but found 1,220,000 tons averaging 0.025 oz/ton gold after drilling and inferred another 5-10 million ton resource outside the area drilled. What's more interesting is that others, including majors, believed it could be an even larger resource but they ran into permitting issues. Hopefully the permitting situation will get better, and I believe it will especially if the multi-metal angle is emphasized.
Silver Star: A fracture zone, 40 to 50 feet wide, strikes N 70-80 E, and dips steeply southeast in quartzite.
Breccia in the zone is composed of limonite-stained, angular fragments of quartzite cemented by white quartz which is locally drusy. Galena, sphalerite, tetrahedrite, chalcopyrite, and pyrite occur disseminated and as pods in the matrix (Anderson, 1959, p. 84).
The material in the fracture zone averages about $8 per ton in gold at a gold price of about $35 per ounce (USBM files). USBM personnel took one select sample (WBH 509) of the breccia during 1991. It assayed 1.28 ppm gold, 610 ppm (17.8 oz/t) silver, 0.32 percent copper, and 2.3 percent lead. During 1995, USBM took another select sample (SFJ 090) of the sulfide-bearing breccia. It assayed 1.02 ppm gold, 434 ppm (12.7 oz/t) silver, 0.21 percent copper, and more than 1 percent lead. A company reportedly found resources containing 250,000 ounces gold during their drilling program.
Last Chance: Significant modern exploration at the site started in 1980 when USGS and Nevada Bureau of Mines began assessing the geology and ore potential of the immediate area.
Known ore bodies previously mined and described by operators were confirmed and a larger extent of mineralization within the system was discovered. Surficial geologic and geochemical maps were made via field work including 269 chip and soil samples which were all assayed for Au and Ag with some being assayed for Cu, Pb, As, Sb, Mo. This surface sampling program produced multiple geochemical contour maps of surface anomalies along with the best geologic map of the area. Results indicated “substantial gold-arsenic and antimony-quartz mineralization” in “several areas” with the largest mineralized zone having a “strike length of 4000 feet with an average width of 500 feet” and a second anomaly on the western edge of the Big Horn Claim Group “covering a minimum area of 1000 feet by 1000 feet. A correlation between Au, As, and SB anomalies and the Robert Mountain Formation within the eastern carbonates was discovered during the assessment. Two zones of primary gold mineralization were identified and drill targets were selected within the larger 300’x1900’ condensed zone.
Drilling of targets commenced with 44 rotary drill holes logging assays and core sunk to between 195’-500’ deep. Although only a small 400’x300’ area of the larger of the two
mineralized zones was drilled, Au intercepts of up to 145’ wide and average intercepts of around 100’ wide were discovered. The drilling program yielded “proven ore reserves
of 309,000 tons averaging 0.027 oz/ton Au, probable ore reserves of 411,000 tons averaging 0.025 oz/ton Au, and inferred reserves of 500,000 tons averaging 0.025 oz/ton Au for a total of 1,220,000 tons averaging 0.025 oz/ton Au.” Drilling combined with surficial mapping and sampling provided data for the team to produce cross sectional maps of the ore body in more detail. Final assessment of data by the team showed “the potential gold resource on this property is from 5,000,000 - 10,000,000
tons of ore.” The team also concluded that “gold mineralization is open in both zones along strike to the northwest and down dip” and that a strong correlation between As
and Au is present which might be used to infer Au mineralization at depth via surface geochemistry since Au is likely encapsulated within the arsenopyrite grains. Although gold was the primary quarry for the 1980’s research program, anomalous quantities of other elements such as chrome, nickel, cobalt, and antimony were also discovered via assay. Podiform ultramafic deposits containing these other elements were traced over an area of 1000’x10,560’ and found in at least 5 drill holes.
If you are interested feel free to contact me for more information on these properties. I am now based overseas and am selling these as a package on easy terms to wrap my US projects. I am offering both for $95,000 paid in four quarterly installments with a retained 2.5% nsr and 7% share of future lease/lease income capped at 200k. I can be somewhat flexible with the terms but not the price.
