Spring Peak Project, USA
Radius continues its ongoing evaluation of the Spring Peak Property recently optioned from Kinetic Gold (for Option terms see news release -- June 14, 2016). This has included sampling of sinter terraces and vein float on the Property, prospecting along the structure of interest and a soil sampling survey (100m x 25m grid orientated orthogonal to the NE-SE targeted structure). Results are still being compiled but mercury, arsenic and antimony anomalies are confirmed along the structure of interest.
The Spring Peak Property is approximately 6 km southeast of the historical open pit mines at Aurora. At Spring Peak, a sinter terrace is exposed along a structure parallel to the Aurora/Borealis trend, and is overlying altered volcaniclastic deposits and basement Cretaceous granites (1). The sinter system contains anomalous concentrations of Au, Ag, Hg, Sb, and As. Recent ash fall deposits cover much of the area, but frequent vein float with multi-ppm gold concentrations can be found across the Property. The area was drilled with shallow holes in the 1980s, the majority of which were vertical. The sinter terrace and structure that appear to control the anomalous values were never drill tested. Radius believes the Property has the potential to host subvertical high-grade gold veins similar to the Aurora camp. A CSAMT geophysical survey will be conducted over the area of the anomalies to test the hypothesis.
1) Gold-Silver Mining Districts, Alteration Zones, and Paleolandforms in the Miocene Bodie Hills Volcanic Field, California and Nevada. USGS Scientific Investigations Report 2015-2012.