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Exploration Projects - Nevada
Lantern
Pershing County, Nevada
The Lantern project is located in Pershing County, Nevada, approximately 50 miles north of Lovelock. Situated approximately 1 mile south of the Rosebud deposit, the western margin of the Lantern Property is hosted by the same Miocene Kamma volcanic sequence that hosts mineralization along a north-northwest trend at Rosebud and at the Hycroft mine, approximately 10 miles to the north. Between 1997 and 2000, Rosebud was mined by a Hecla-Newmont joint venture and produced 385,450 ounces of gold and 1,253,604 ounces of silver from 1,003,390 tons milled (Harvest Gold Corporation news release dated November 22, 2007). At Hycroft, in March 2009 Allied Nevada Gold Corp. announced a measured and indicated gold resource of 5.9 million ounces (440.9 million tonnes at 0.40 gm/t using a cut off grade of 0.17 gm/t for oxide material and 0.45 gm/t for sulfide material.
At Lantern, Kamma volcanic rocks form the margin of an eastward dipping structural basin, where Miocene sediments and fanglomerates that largely predate the volcanic rocks are in fault contact with each other. This fault contact is predominantly covered by Quaternary Lahontan lake sediments and all is underlain by the Late Triassic to early Jurassic Auld Lang Syne Group basement rocks, comprised of phyllite, shale, mudstone, siltstone, with intercalated calcareous units, which outcrop on the eastern margin of the property.
Several styles of mineralization are recognized at Lantern including epithermal style vein and stockwork prospects with quartz-adularia mineralization and disseminated mineralization into porous fanglomerates and calcareous sedimentary units.
The property covers approximately 5,406 acres of which 1,463 acres is leased from Newmont Mining Corp, and 3,943 acres are staked by Golden Predator. Approximately of these 3,488 acres lie within the area of interest in the Newmont lease.
SP Ridge & Silver Ridge Prospect Areas
SP and Silver Ridge prospects are structurally complex zones with several feeder structures cutting through both Mesozoic sediments and Auld Lang Syne group rocks. Low grade mineralization exploits favourable lithologies at each prospect, and the majority of drilling on those prospects was completed by Sante Fe Pacific Gold Corp., who focused their efforts on large tonnage, bulk mineable deposit style. Santa Fe Pacific completed a resource estimate in 1992 for the SP ridge prospect based on 64 angle and vertical reverse circulation drill-holes that covered an area of approximately 2,000 feet of strike length, in a north-south orientation. Santa Fe estimated a total of 12,670,000 tons averaging 0.012 oz/t Au at a 0.008 cut-off grade, and in a separate, but overlapping silver resource shell; 8,450,000 tons averaging 1.15 oz/t Ag at a 0.292 oz/t Ag cut-off (Chenevey, 1992). The two overlapping resource shells combined total just over 18M tons containing an estimated 145,900 ounces of gold and 9.73M ounces of silver. These estimates are historic in nature have not been verified by a Qualified Person as defined by NI43-101. They should not be relied upon and are reported here for historical information only.
Within Santa Fe's resource estimate are several feeder structures containing high grade silver values and significant gold values. Quincy Resources Inc., a predecessor company of Golden Predator Royalty & Development, completed a four drill hole program in 2005 targeting the high grade feeders at SP ridge. Below is a table showing results of Quincy Resource's significant intercepts at a >0.3 gm/t gold cut-off and/or a >1 oz/t Silver cut-off.
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Drillhole
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From (ft)
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To (ft)
|
Drilled Interval (ft)
|
Gold (gm/t)
|
Silver (gm/t)
|
Gold (oz/t)
|
Silver (oz/t)
|
|
QEL-4
|
0
|
50
|
50
|
0.626
|
12
|
0.018
|
0.34
|
|
QEL-4
|
100
|
105
|
5
|
0.533
|
22
|
0.016
|
0.65
|
|
QEL-4
|
180
|
205
|
25
|
0.059
|
121
|
0.002
|
3.52
|
|
QEL-4
|
240
|
325
|
85
|
0.030
|
37
|
0.001
|
1.07
|
|
QEL-4
|
415
|
430
|
15
|
0.469
|
10
|
0.014
|
0.29
|
|
QEL-4
|
490
|
500
|
10
|
0.348
|
6
|
0.010
|
0.18
|
|
QEL-4
|
585
|
595
|
10
|
0.092
|
113
|
0.003
|
3.28
|
|
|
|
|
|
|
|
|
|
|
QEL-5
|
0
|
40
|
40
|
0.664
|
10
|
0.019
|
0.29
|
|
QEL-5
|
90
|
105
|
15
|
0.236
|
259
|
0.007
|
7.56
|
|
QEL-5
|
185
|
250
|
65
|
0.057
|
488
|
0.002
|
14.23
|
|
including
|
190
|
195
|
5
|
0.195
|
4700
|
0.006
|
137.08
|
|
QEL-5
|
310
|
315
|
5
|
0.345
|
7
|
0.010
|
0.21
|
|
QEL-5
|
430
|
435
|
5
|
0.343
|
5
|
0.010
|
0.16
|
|
QEL-5
|
490
|
510
|
20
|
1.292
|
11
|
0.038
|
0.32
|
|
QEL-5
|
525
|
535
|
10
|
1.756
|
7
|
0.051
|
0.20
|
|
|
|
|
|
|
|
|
|
|
QEL-6
|
30
|
50
|
20
|
0.493
|
17
|
0.014
|
0.48
|
|
QEL-6
|
65
|
90
|
25
|
0.405
|
17
|
0.012
|
0.51
|
|
QEL-6
|
135
|
155
|
20
|
0.199
|
35
|
0.006
|
1.02
|
|
QEL-6
|
195
|
270
|
75
|
0.350
|
11
|
0.010
|
0.31
|
|
QEL-6
|
295
|
305
|
10
|
0.449
|
9
|
0.013
|
0.26
|
|
|
|
|
|
|
|
|
|
|
QEL-7
|
20
|
25
|
5
|
0.086
|
47
|
0.003
|
1.36
|
|
QEL-7
|
50
|
65
|
15
|
0.415
|
31
|
0.012
|
0.91
|
|
QEL-7
|
400
|
405
|
5
|
0.385
|
17
|
0.011
|
0.50
|
Gold Boulders Target
The Gold Boulders target is a 1,600 ft linear zone of nearly continuous quartz rubble, and several large sub angular boulders up to 3 ft wide and 5 ft long. Large boulders and fragments are primarily composed of banded quartz-adularia veining, that repeatedly return +1 oz/t Au rock chip assays with representative sampling averaging >0.25 oz/t Au by several companies in past exploration programs. Drilling on the prospect is limited and non conclusive as to the source for the boulders. The gold boulders may represent a blind target of high grade quartz-adularia veining located proximal, and to the west of the exposed geochemical signature.
Golden Predator anticipates a modest exploration program in 2009 with drilling beneath the SP Ridge area to target and further expand the potential of feeder structures at depth.
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NEVADA/USA
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