(The reader is cautioned that the mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on the Company’s Jersey Valley gold property). (Past production data is from the Newmont Mines and Premier Gold Mines websites.
#Abacus gold plus
The property is located within north-central Nevada within the Battle Mountain trend, in close proximity to both the Phoenix/Fortitude mine complex (approximately 14 Moz gold plus significant Ag and Cu past production and a proposed mine life to 2063) and the Cove/McCoy Mine: 3.4 Moz gold and 110 Moz Ag past production. The Company website has been updated to show the IP anomalies on the original claim group.Īs demonstrated by past operators, the Jersey Valley property is prospective for both intrusion- related sediment hosted, and epithermal precious metal mineralization. Next steps are further IP geophysics to expand the existing survey, followed by drill testing of these targets. Past drilling was neither extensive enough, deep enough nor optimally placed to adequately test the system. Of note is the fact that structures appear to bracket both resistivity anomalies, possibly indicating sub-basins within the larger basin. The reprocessing also identified several high angle chargeability anomalies that may be feeders to the extensive flat lying anomalies, along with structures parallel to and at high angles to the range front fault. The Company believes that the reprocessing has highlighted the fact that the best portions of the IP targets are essentially untested, although past drilling clearly indicates that they contain gold and silver, along with a suite of other elements typical of these precious metal bearing systems.
#Abacus gold verification
Note further that these results are historic in nature and although the author was not involved in the original work, proper industry standard sampling and data verification procedures appear to have been followed Note that all intercepts are down hole lengths as insufficient drilling was done to determine true widths. The previous operator completed a large-scale ground magnetic survey in the early 2000’s which extended well beyond the current property and then initiated a limited four-line northwest oriented IP survey over the valley gravels.ĭrill hole 06JC014C intersected 1.18 g/t silver over 13.1 m near the top and then 0.19 g/t gold over 13.4 m near the end of the hole.ĭrill hole 06JC015C assayed 0.18 g/t gold and 3.6 g/t silver over 6.09 m part way through the hole and then 1.58 g/t gold over 1.52 m near the end of the hole.ĭrill hole 06JC017C, which hit narrow zones of anomalous gold and silver throughout, including 0.18 g/t gold over 29.87 m. A distinctive sinter associated with hot springs activity is exposed out in the valley gravels. Jersey Valley is underlain by an uplifted range of sediments and intrusives to the east and an extensive basin covered by gravels to the west, separated by a prominent, brecciated range front fault. “ The new claims will allow the Company to potential expand these targets, the largest of which is approximately 600 metres long by 500 metres wide”. “The acquisition and reprocessing of historic geophysics at Jersey Valley has clearly upgraded and defined the gold-silver targets” commented Paul G. The new claims now cover the southwest and western strike and down dip extensions of all known targets at Jersey Valley.
The reprocessing exercise clearly showed that the two main IP targets were close to the claim boundaries or off the original claim group. VANCOUVER, British Columbia, J(GLOBE NEWSWIRE) - Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV: AME) is pleased to announce an expansion of the property position at its Jersey Valley gold property, within the Battle Mountain trend of north-central Nevada.īased on recently reprocessed and reinterpreted geophysics ( see News Release dated July 8, 2020) the Company has approximately doubled the property size by staking an additional 30 claims.
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