Jersey Valley Gold and Silver Project
Lease Status: Available
Exploration Target: The target at Jersey Valley is epithermal bonanza style gold and silver mineralization and/or skarn and intrusive related precious metals mineralization.
- The prospect sits just 17 miles SW of 4 million oz Cove McCoy deposits and 28 miles SW of 14 million oz Phoenix / Fortitude deposits.
- Epithermal mineralization focused along N-S structures intersects porphyry related mineralization focused on NW oriented structures.
- A shallow drill hole bottomed in 245 ft skarn zone averaging 265 ppb Au and 3.28 g/t Ag.
- Drill intercepts in the epithermal breccia hit up to 2 g/t Au and 7 g/t Ag.
- Surface rock chip assays near the intrusive run up to 5.8 g/t Au and 114 g/t Ag.
- There are two drill ready targets, a structural intersection zone and a gold skarn zone.
- Property displays excellent potential to host multi-million oz. gold deposits similar to Midas and/or Cove-McCoy.
Two large stocks intrude a section of greenstone, chert, argillite and limestone of the Penn-Permian age Pumpernickel formation. Precious metal mineralization up to 5.8 g/t Au and 114 g/t Ag and high base metals can be found in rocks adjacent to both stocks. There is also N-S oriented silicified quartz breccia that carries up to 300 ppb Au and 10 g/t Ag, with low base metals in outcrop.
The general setting and magnetic anomalies have attracted other explorers who conducted drill programs. These include Hemlo Gold, Uranerz, and Western Mining. Kennecott ran I.P. / resistivity surveys. Note that earlier drilling was not deep enough to reach the indicated IP conductor. The one hole drilled in 2011 by WPC was intended as the first of 3 hole program; there were insufficient funds to drill the other two planned holes which would have tested the core of the chargeability anomaly. This hole did intersect anomalous mineralization as noted above, as well as thermally metamorphosed Paleozoic rocks, further evidence for a nearby intrusive body.
Several good targets stand out at Jersey Valley. One is a N-S oriented silicified quartz breccia that carries up to 300 ppb Au and 10 g/t Ag, with low base metals in outcrop. Shallow drill holes angled east through the zone hit up to 2 g/t Au over five feet within a 40 wide zone 591 ppb Au. That zone is open at depth and deserves additional testing. The epithermal breccia zone projects into intrusive related mineralization hosted on shear zones and disseminated in skarn gold mineralization. One of the key holes hit 245 feet of 265 ppb gold and 3.28 g/t Ag bottoming in strong mineralization well away from the intrusive as inferred from magnetic data. The skarn zone deserves additional testing and an area where the intrusive related mineralization intersects the epithermal breccia zone also deserves testing.