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Angel's Camp, OR
Overview
Angel's Camp, comprising 158 lode mineral claims, is a part of the former Quartz Mt. project, located about 30 miles west-northwest of the town of Lakeview on Oregon State Highway 140. Well-maintained secondary roads provide access to the property where an epithermal gold system has been partially drilled.
As the result of recent renegotiations between Golden Predator Mines (US) Inc., and Seabridge Gold Corporation, the Company has the right to earn a 50% interest in Angel's Camp by incurring $500,000 in property expenditures prior to December 31, 2010 and issue to Seabridge two hundred thousand 200,000 common shares of Golden Predator Royalty & Development Corp. The Company also has the option of earning an increased interest in the property from 50% to 70% by agreeing to fund 100% of the costs to complete a feasibility study no later than March 31, 2011. Golden Predator decreased the size of its Quartz Mt. project and renegotiated the terms of the property agreement in order to focus on its high grade gold discovery made at Angel's Camp in 2004.
Property History
From 1982 to 1996, comprehensive exploration programs were carried out by The Anaconda Company, Wavecrest Resources Ltd., Galactic Resources Ltd., Pegasus Gold Corporation and Newmont Mining Corporation Exploration Ltd. either within or on adjacent property to the Angel's Camp Project. These programs, which consisted essentially of geological mapping, soil and rock geochemistry, geophysical surveys and extensive reverse-circulation and diamond drilling, resulted in several historic resource estimates on the relinquished adjacent property.
In 2004, Quincy Gold Corp., a predecessor company to Golden Predator, encountered bonanza gold grades in drilling at Angel's Camp, a prospect located approximately 2.5 miles to the east of the Quartz Butte and Crone Hill resource areas. Angel's Camp mineralization is part of a large, district scale mineralizing system associated with the resource areas. The bonanza veins system is hosted within Late Miocene, rhyolite porphyry domes and adjacent basaltic flows, tuffs and volcaniclastic country rocks. Disseminated, micron-size, native gold mineralization at Angel's Camp accompanies pervasive silica flooding and quartz veining and is associated with pyrite, marcasite, and stibnite or their oxidized equivalents.
Quincy drilled a total of nine holes (5,903 feet) at Angel's Camp in 2004. Eight of the nine holes intersected epithermal veins and vein breccias and five holes returned assays of greater than 0.1 oz/t Au. Multiple, moderate to high grade gold zones associated with banded epithermal vein and vein breccias were encountered within broad intercepts of lower, but bulk mineable grades within surrounding volcanic and volcaniclastic rocks.
Golden Predator completed a computer modeled evaluation of all previous drill data for Angel's Camp in 2007, which revealed a NNW trending, nearly vertical zone of high-grade gold intercepts, approximately 200 feet in length, 35 to 50 feet in width, plunging steeply to the north and at least 400 feet in vertical dimension. This NNW plunging zone is at the intersection of several structural elements including the Angel's Camp vein and AC fault along with a newly defined second vein.
This zone was the target of the 2009 RC drilling program, where a series of nine, angle holes confirmed the existence of bonanza style gold mineralization hosted by quartz-adularia veining within a hydrothermally altered package of rhyolite volcanics and underlying basalts. The drilling results, intersected alteration and mineralized boundaries, correlated well with modeled geometry of the deposit.
Exploration Potential
The Angel's Camp area is located within the precious metal-rich Basin and Range physiographic province of Nevada-Oregon-Idaho. In a Technical Report dated January 3, 2007 by Sandberg and Gilmour and commissioned by Golden Predator, A $1.1 million budget was recommended for further drilling at Angel's Camp and Crone Hill (adjacent property).
The mineralized breccia pipe at Angel's Camp is still open at depth and requires additional drilling to further define the extent of the gold bearing structure and to test for parallel veins within the relatively untested footwall, as well as north and south of the current gold mineralization boundaries.
Additional information, including a May 29, 2009 and September 11, 2009 press release with intercepts and assay values for the previous drilling at Angel's Camp, project photos and property location map may be viewed on the Company's website.
Angel's Camp Drilling Highlights (0.10 oz/t Gold cut-off) |
HOLE |
FROM (ft) |
TO (ft) |
INTERVAL
(ft) |
Au (opt) |
Ag (opt) |
INTERVAL
(m)
|
Au (g/t) |
Golden Predator 2009 Drilling Program |
GPAC-02 |
237.5 |
250 |
12.5 |
0.166 |
- |
3.8 |
5.69 |
GPAC-03 |
230 |
262.5 |
32.5 |
0.135 |
- |
9.9 |
4.62 |
including |
237.5 |
240 |
2.5 |
0.491 |
- |
0.76 |
16.85 |
and |
252.5 |
257.5 |
5.0 |
0.344 |
2.44 |
1.5 |
11.80 |
GPAC-04 |
280 |
320 |
40.0 |
0.207 |
- |
12.2 |
7.105 |
including |
312.5 |
317.5 |
5.0 |
1.135 |
- |
1.5 |
38.9 |
Quincy Gold Corp. 2004 Drilling Campaign |
AC-1 |
40 |
45.5 |
5.5 |
0.148 |
0.09 |
1.68 |
5.07 |
AC-3 |
222.5 |
233.5 |
11 |
0.199 |
0.39 |
3.35 |
6.83 |
AC-4 |
383.2 |
386.8 |
3.6 |
0.114 |
0.11 |
1.1 |
3.91 |
AC-10 |
191.5 |
197 |
5.5 |
1.735 |
29.75 |
1.68 |
59.49 |
AC-11 |
230 |
232 |
2 |
0.110 |
0.07 |
0.61 |
3.75 |
AC-11 |
255 |
269 |
14 |
0.290 |
0.25 |
4.27 |
9.96 |
Quartz Mountain Gold Corp. Historic Drilling |
QM-180 |
245 |
265 |
20 |
0.377 |
N/A |
6.1 |
12.93 |
QM-180 |
275 |
285 |
10 |
0.423 |
N/A |
3 |
14.50 |
QM-403 |
36.5 |
40 |
3.5 |
0.247 |
0.00 |
1 |
8.47 |
QM-403 |
56.8 |
70.5 |
13.7 |
1.967 |
7.76 |
4.18 |
67.44 |
QM-403 |
91 |
94 |
3 |
0.900 |
3.20 |
0.9 |
30.86 |
QM-487 |
41 |
45 |
4 |
0.133 |
0.11 |
1.22 |
4.56 |
QM-487 |
53 |
56 |
3 |
0.101 |
0.05 |
0.9 |
3.46 |
QM-487 |
135 |
151 |
16 |
0.412 |
0.59 |
4.88 |
14.13 |
QM-487 |
200 |
217 |
17 |
0.630 |
2.10 |
5.18 |
21.59 |
QM-487 |
241.5 |
245 |
3.5 |
0.297 |
0.15 |
1 |
10.18 |
QM-488 |
7 |
17.5 |
10.5 |
0.454 |
0.57 |
3.2 |
15.55 |
QM-488 |
29.5 |
39 |
9.5 |
0.199 |
0.16 |
2.9 |
6.83 |
QM-488 |
70.5 |
81.5 |
11 |
0.197 |
0.42 |
3.35 |
6.75 |
QM-489 |
14 |
49 |
35 |
0.227 |
0.41 |
10.67 |
7.80 |
QM-600 |
240 |
285 |
45 |
0.321 |
N/A |
13.72 |
11.02 |
QM-600 |
335 |
340 |
5 |
4.681 |
N/A |
1.5 |
160.49 |
Drilling GPAC-08 at Angel's Camp, 2009 |
Banded epithermal quartz vein textures from Angel's Camp |
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Surveying GPAC-05 at Angel's Camp, 2009 |
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NEVADA/USA
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