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Maverick Springs, Nevada
Maverick Springs Technical Report
Location and History
Maverick Springs is located in northeastern Nevada, about halfway between Elko and Ely, at the southeast end of the Carlin Trend belt of gold-silver deposits. Access is by a 40-kilometer (25-mile) gravel road from the town of Ruby Valley.
The property was first staked and explored in 1986 by Artemis Exploration Company. Vista Gold Corp. acquired a lease on the property in December 2001 and subsequently formed a joint venture with us in 2002. We will own the silver resource while Vista Gold will own the gold resource. A total of 172 holes have been drilled on the property, including 36 holes totaling 11,075 meters on behalf of the joint venture.
Geology and Metallurgy
The silver-gold mineralization occurs as a Carlin-type, sediment/carbonate-hosted disseminated deposit measuring about 2,400 meters in length, with a width of 760 meters and a thickness of approximately 60 meters. Mineralization is open to the south and north-northwest. Preliminary metallurgical testwork indicates a process using conventional milling will yield 63% to 97% recoveries for silver.
Project Scope and Plans
Maverick Springs hosts a large silver-rich system that may be amenable to low unit cost bulk mining, similar to other Carlin-type deposits. Further drilling to explore the extent of the higher grade silver mineralization discovered in 2006 will be undertaken in 2007.
For details on the reserves and resources of Maverick Springs,view the current Resource Summary (312 kb pdf).