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|   Tuscarora Project The Tuscarora mining district is located approximately 38 miles northwest of Elko in the Tuscarora Mountains in northeastern Nevada. It sits between the Carlin trend 22 miles to the south, Midas 30 miles to the west, and the Jerritt Canyon district 12 miles to the northeast. The Tuscarora project consists of approximately eight square miles lying proximal to the margin of the Mount Blitzen caldera. Golden Predator has a compilation of historic drilling in progress to generate a 3D geologic model for defining structural controls on epithermal veins hosting high grade gold mineralization encountered in multiple drill intercepts on the project. An existing Plan of Operations for exploration and a Reclamation Permit are current for the property. However, Golden Predator is currently filing an exploration plan for additional drilling. Gold and silver were first discovered at Tuscarora in 1876. Through 1941, the district recorded production of approximately 165,000 ounces of gold and 7.1 million ounces of silver from numerous vein deposits (Payne, 1969). In the late 1980s, Horizon Gold produced approximately 25,000 ounces of gold and 220,000 ounces of silver (Goodall, 2003) from a small open pit on an adjacent property exploiting a volcanic hosted, structurally controlled gold deposit. Gold and silver mineralization are related to a swarm of quartz-adularia veins hosted in Eocene volcanic rocks which compose part of the Mount Blitzen volcanic caldera complex. This epithermal mineralization is widespread over an area of about eight square miles, and occurs with numerous north and northeast trending quartz-adularia veins, vein-breccias and stockworks. Beginning in the 1980's, several companies explored the district for bulk minable gold deposits. More recent work by Newcrest Resources, Franco-Nevada, and others has concentrated on Midas style higher-grade, underground gold-silver vein targets. Newcrest explored the Tuscarora area from 1994 to 1999, discovering a southern extension to the previously mined Navajo vein where it extends under transported cover. Drilling in 1997-98 encountered several high grade gold vein intercepts under 49 to 95 meters of transported cover.
The current level of drilling on the Navajo South vein is wide spaced for an epithermal vein system, with 200 ft spaced drilling along most of the vein's 3,000 ft strike length and, only localized zones of 100 ft spaced infill drilling. The vein is offset by a fault at the southern limit of the drilling, and is un-tested further to the South. Several other Au-Ag epithermal vein targets remain un-tested within the property position, including the East Pediment, where Newcrest intersected the Eastern Structural Zone in 3 of 9 drill holes yielding results up to 1.54 oz/t Au over a 5 ft interval (see table above). Most of the pediment, about half of the property position, remains to be evaluated for these targets. A substantial database of drill hole and geologic information exists for this property which displays mineralized zones that may have either open pit or underground potential. Golden Predator's principal target is multiple underground pods of high grade shipping ore with each pod subject to an approximate 50,000 ounce minimum gold equivalent. It is believed that we are the first group in modern times to look for small tonnage, high grade deposits which could be shipped to the company's Taylor mill or an alternate modular mill for processing. The Tuscarora property is optioned in conjunction with the Adelaide Project under an agreement with Atna Resources Corp. (formerly Canyon Resources Corporation). Golden Predator assumed the position of Atna in an underlying agreement with Newmont Mining Corporation which requires us to spend a total of US$3 million on either or both projects over a five year period to earn our interest in the projects, and issue to Atna up to US$1 million in shares of Golden Predator. Newmont retains a one time option on either project to enter into a joint venture with us whereby Newmont would hold a 51% and Golden Predator a 49% interest.  click to enlarge Maps & Photos
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