Contained metal is in the order of 2.7 Bil lbs Cu, 2.6 Moz Au and 5.3 Moz Ag*. The Ajax Project contains significant quantities of copper and gold, within a NI 43-101 Proven and Probable Mineral Reserve of 426 Mt at 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag. Abacus holds a 20% ownership interest in the project, which is managed by base metal major KGHM Polska Miedź S.A., who hold the remaining 80%. ![]() The Company also continues to advance its Ajax copper-gold project, located near Kamloops, British Columbia. The target is large and robust, and it remains essentially untested. This rock unit was not previously known to exist on the Company’s property, and it represents a significant new discovery. Drilling by the Company in 2018 intersected a key intrusive rock unit on Willow that hosts all known porphyry Cu-Mo deposits at Yerington. The Willow and adjacent Nev-Lorraine copper-molybdenum properties are in the Yerington copper camp, southeast of Reno, Nevada. The Company also has two additional properties of merit. The Jersey Valley property has a well-maintained sealed road running through it, which provides access to a 15 MW geothermal power plant located on the edge of the claim group. ![]() (The reader is cautioned that the mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on the Company’s Jersey Valley gold property). (Past production data is from the Newmont Mines and Premier Gold Mines websites. The property is located within north-central Nevada within the Battle Mountain trend, in close proximity to both the Phoenix/Fortitude mine complex (approximately 14 Moz gold plus significant Ag and Cu past production and a proposed mine life to 2063) and the Cove/McCoy Mine: 3.4 Moz gold and 110 Moz Ag past production. The Company website has been updated to show the IP anomalies on the original claim group.Īs demonstrated by past operators, the Jersey Valley property is prospective for both intrusion- related sediment hosted, and epithermal precious metal mineralization. Next steps are further IP geophysics to expand the existing survey, followed by drill testing of these targets. Past drilling was neither extensive enough, deep enough nor optimally placed to adequately test the system. Of note is the fact that structures appear to bracket both resistivity anomalies, possibly indicating sub-basins within the larger basin. The reprocessing also identified several high angle chargeability anomalies that may be feeders to the extensive flat lying anomalies, along with structures parallel to and at high angles to the range front fault. The Company believes that the reprocessing has highlighted the fact that the best portions of the IP targets are essentially untested, although past drilling clearly indicates that they contain gold and silver, along with a suite of other elements typical of these precious metal bearing systems. ![]() at the end of the hole.Note that all intercepts are down hole lengths as insufficient drilling was done to determine true widths.Note further that these results are historic in nature and although the author was not involved in the original work, proper industry standard sampling and data verification procedures appear to have been followed The best results were:ĭrill hole 06JC014C intersected 1.18 g/t silver over 13.1 m near the top and then 0.19 g/t gold over 13.4 m near the end of the hole.Drill hole 06JC015C assayed 0.18 g/t gold and 3.6 g/t silver over 6.09 m part way through the hole and then 1.58 g/t gold over 1.52 m near the end of the hole.Drill hole 06JC017C, which hit narrow zones of anomalous gold and silver throughout, including 0.18 g/t gold over 29.87 m. All three holes had >1% pyrite, occasional realgar and stibnite, and numerous additional gold-silver intercepts associated with elevated levels of arsenic, antimony and mercury. Three historic diamond drill holes appear to have just grazed these two anomalies but were not optimally oriented. National Capital Region's Top Employers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |