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  • rholl49oswego rholl49oswego Jul 15, 2012 8:52 AM Flag

    Block 3/Gold exploration in Presidio Co.

    Here is some of the relevent info from the feasibility study:
    The Gleim Property, south of the Presidio mine, has the potential for structural-related silver and
    gold mineralization. GFMC drill hole SD 264 encountered 7 feet of 10 ounces silver per ton,
    0.07 ounces gold per ton, 4 percent lead and 2 percent zinc at 393 feet. Samples containing high gold
    values were reported taken at the east edge of the Gleim Property.
    Although the original drill core has been lost, the paper drill logs indicate that there is a zone on
    the east edge of the porphyry, which grades 6 percent copper over a vertical distance of 110
    The Red Hills porphyry copper deposit and the Sullivan lead-silver occurrence define the west
    end of the district. However, recent theories about caldera mineral control indicate that potential
    mineralization could exist further to the west. It is believed that possible buried intrusives near
    Red Hills and south and east of Red Hills are the heat source for the hydrothermal solutions
    whose metals formed the currently identified mineral deposits in the district.
    These solutions traversed along regional structures trending N70°E which bound the Shafter-
    Presidio deposit. This regional fabric also hosts a bedded zinc deposit and several high-grade
    lead-zinc veins (often with some minor gold values) with past production at the Montezuma,
    Chinati, Perry, Gliem and MacDaniel workings.
    GFMC never followed up on a large zone of bedded and oxidized zinc mineralization that they
    discovered during their regional drill program. The north-south drill fence with SD 313, SD 316,
    and SD 317 intersected 6 feet of 10 percent zinc mineralization extending 1,200 feet down-dip
    from the Montezuma workings. Drill hole SD 313, located approximately 200 feet south of the
    old mine, encountered two 6-foot zones with 14 percent zinc and the bottom horizon contained
    0.03 ounces gold per ton. A 4 percent to 6 percent zinc zone was also encountered in GFMC’s
    drill holes along strike in fences 2,000 feet to the east and 3,000 feet to the west from the
    Montezuma workings.
    The last 30 years of exploration has encountered numerous gold intercepts of merit, but no
    follow-up work was undertaken. For instance, GFMC drill hole SD 301 encountered 6 feet at
    0.52 ounces gold per ton mineralization at 943 feet near the top of the Permian Mina Grande
    formation (the main ore-bearing sedimentary horizon for the district). SD 301 was not offset with
    additional drilling.
    On both the east and west sides of the Red Hills intrusive, detailed chip sampling of mineralized
    outcrops of the Permian sediments was done by Duval and outlined significant zones of gold
    and silver anomalies. Twenty-eight sets of samples were taken and 18 of these sets had gold
    values that ranged from 0.005 ounces per ton to 0.33 ounces per ton. Silver values in 6 samples
    ranged from 2 to 21.2 ounces silver per ton. On both sides of the draw hosting the MacDaniel underground workings, drifts have been
    worked on strong structural mineralization. Sampling by RGMC on the north-dipping N75°W
    structure indicated plus 6 feet carrying 0.03 ounces gold per ton, 1.2 percent lead, and 13.2
    percent zinc at the surface. These workings were driven prior to World War II, when gold was
    $30 per ounce and zinc was $0.12 per pound.
    Technical Report on Shafter Feasibility Northwest trending structures at the MacDaniel workings and at the Sullivan Mine to the west of
    Shafter demonstrate values of up to 0.30 ounces gold per ton, 2 to 6 ounces silver per ton, 4 to
    20 percent lead, and 3 to 10 percent zinc.

0.0732-0.0018(-2.40%)Nov 25 1:49 PMEST