Golden Valley Prospect
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The Golden Valley Prospect covers an .85 square mile area that is defined by geophysics, geochemistry, and faulting systems that control mineralization in the Yerington Copper District. Strong IP signals combined with surface assay samples, some very high grade, falling within two intersecting major fault systems, one system controlling copper deposition and one system controlling gold deposition, provides the information needed to set the Golden Valley as a prime drill target.
The Golden Valley area of interest contains what Auric believes to be a Nevada typical gold epithermal prospect. The surface expression of the gold prospect is approximately 4000 feet by 1000 feet. The surface expression of this gold prospect is a shattered leach cap that is highly iron stained. The geochemical sampling of a portion of the prospect showed typical anomalous gold values for a gold epithermal occurrence except for one significant sample returning an assay of .4 ounce per ton gold.
The Golden Valley Prospect is interpreted as an epithermal gold deposit that overprints older copper mineralization accompanied by silver, zinc, and lead mineralization. In geological time periods, the Company believes that three different mineralization events may have happened. The oldest, or first occurring, was the copper intrusive. The second event would have been the zinc, lead, silver event. The last or youngest would be the gold epithermal. Geochemical sampling reinforces this analysis as the gold epithermal prospect also contains copper, zinc, lead, and silver. These metals would have been dragged into the epithermal occurrence as the hot fluids were pushed through previously mineralized rock on its journey to the surface. The Company believes that the high gold, silver, zinc, and lead values associated with copper are only found in the Auric Fulstone project area in the Yerington Mining District. These metals potentially provide a major added per ton value compared to the other copper deposits in the district. The Golden Valley Prospect has high potential for being enlarged. One positive geophysical line running southwest to northeast extends well past the now defined boundary. |
The picture below illustrates the current outline of the Golden Valley Prospect:
The picture below shows the shattered leach cap edge against the native rock unaffected by the epithermal activity:
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A second parallel geophysical line ended at the boundary still generating a strong signal of conductors. Additional geophysical work has the strong potential to extend the boundaries of the prospect area.
Approximately 1200 feet south of the defined prospect, in the 1980’s a major petroleum company drilled a hole that intersected 80 feet of .4 percent copper at a depth of 400 feet. This hole falls within the local faulting structure between the Golden Valley Prospect and the Minnesota Mine. This mineralization bodes well for continued copper mineralization into the Golden Valley Prospect.
Approximately 1200 feet south of the defined prospect, in the 1980’s a major petroleum company drilled a hole that intersected 80 feet of .4 percent copper at a depth of 400 feet. This hole falls within the local faulting structure between the Golden Valley Prospect and the Minnesota Mine. This mineralization bodes well for continued copper mineralization into the Golden Valley Prospect.