ABC Project, USA
Radius Gold has recently staked 122 contiguous federal mining claims (the "ABC Property") covering approximately 992 hectares in the historic Walker Lane Gold Trend in Mineral County, Nevada. The ABC Property is located along the structural trend that hosts the historic Aurora mining district, the Borealis mine and the historic Bodie mining camp in California. The gold deposits in the Aurora-Borealis-Bodie district occur as both high grade vein-hosted low sulphidation deposits (Aurora, Bodie), and as high-sulphidation alunite-kaolinite gold-deposits (Borealis). Total historical precious metal production along this approx. 32 kilometer trend, from the mid-19th century to the mid-1990s, has been estimated at 4.0 million ounces Au, and 11.2 million ounces Ag (1).
The ABC Property covers seven kilometers of what management believes to be an untested portion of the structure that acted as the plumbing system for these gold deposits, and is covered by thin extrusive trachyandesites of the Aurora Volcanic Field. It is Radius's belief that no previous operator in the area has attempted to identify the regional structure beneath these extrusive flows.
The ages of mineralization with the district span 6 million years (Ma) (Bodie 8.5 Ma, Aurora 10.5 Ma (2) and Borealis 4.5 Ma (3), evidencing a long-lived structure that has facilitated significant fluid flow and produced three significant gold deposits. Radius believes the long-lived and well-mineralized nature of this structure make the covered untested sections compelling areas to explore for blind high-grade gold deposits.
Both oxidized and gold-sulphide deposits occur within the district, with gold-sulphide mineralization occurring at the bottom of most pits, the most significant of which is beneath the Freedom Flats deposit (4). Previous operators of the Borealis mine also believe that potential high-grade feeder structure remain beneath existing pits. Drilling of these zones has intercepted spectacular grade and thickness, in particular, the Freedom Flats area, including:
FF-50 with 18.3 m averaging 7.95 g/t Au
FF-173 with 16.8 m averaging 17.55 g/t Au
FF-223 with 6.2 m averaging 16.11 g/t Au
FF-229 with 33.5 m averaging 29.35 g/t Au
Radius is targeting relatively shallow high-grade targets, similar to those observed at the Freedom Flats deposit, using IP to delineate new targets. IP has been successfully used in the area to identify buried targets in the Borealis mine area.
- Technical Report on the Esmeralda Project, Mineral County, Nevada USA. P. Knudsen & N. Prenn, Mine Development Associates (MDA). Prepared for Metallic Ventures Inc., 2002.
- Gold-Silver Mining Districts, Alteration Zones, and Paleolandforms in the Miocene Bodie Hills Volcanic Field, California and Nevada. USGS Scientific Investigations Report 2015-2012.
- Geologic Discussion of the Borealis Gold Deposit, Mineral County, Nevada. Strachan D. G. USGS Bull. 1982.
- NI 43-101 Pre-Feasibility Study Update of the Mineral Resources of the Borealis Gold Project Located in Mineral County, Nevada, USA. J. D. Welsh & J. M. Brown. Prepared for Gryphon Gold Corp., 2011.