Jewel Ridge is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, strategically along strike and contiguous to the former Barrick Gold, two million gold ounce Archimedes/Ruby Hill mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south. The property consists of 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1800 acres). The Jewel Ridge property contains several historic small gold mines which align along a north-south-trending stratigraphic contact of Lower Paleozoic sedimentary rocks, as well as several other gold-mineralized zones with a variety of structural and lithological controls. Multiple targets occur on the property with Carlin-type gold mineralization.
"This marquee property acquisition in the heart of a prolific gold trend in Nevada gives Golden Lake year-round drilling capability and exciting potential for discovery of significant Carlin-type gold deposits. Gold mineralization at Jewel Ridge is present in a variety of styles over many target areas. In addition, the Company is engaging an experience team of technical personnel, familiar with Nevada and Carlin-type deposits to aggressively advance the Jewel Ridge property."- Mike England, Golden Lake CEO & Director
Carlin-Type Gold Mineralization
Signature characteristics of Carlin deposits include:
- Favorable sedimentary rocks (silty limestone & limey siltstones)
- Favorably faulted structure
- Gold-bearing hydro-thermal solutions
- Nearby gold deposits
The deposit types of interest at Jewel Ridge are Carlin-type, sedimentary rock-hosted, gold deposits and carbonate replacement deposits. Carlin-type deposits include many deposits that occur in the Battle Mountain-Eureka Trend, Carlin Trend and other well-known mineral trends in north central Nevada. Jewel Ridge is located adjacent to, and south of, the former Ruby Hill gold property, which was operated by Homestake Mining Company from 1997 until 2002 and produced about 680,000 ounces of gold from the Archimedes open pit. In February 2007, Barrick Gold Corp. commenced production on a 1.1-million-ounce gold resource from the adjoining East Archimedes deposit. From 1976–2012, production from these Carlin-type deposits in the Eureka district was approximately 44.9 tonnes (1.38 million ounces) of gold (NBMG, 2014).
The Jewel Ridge property has a data base of over 360 short drill holes (mostly RC), extensive soil and rock geochemistry, and excellent geological mapping. This represents millions of dollars of previous exploration expenditures and allows Golden Lake to fast track the vectoring of high priority targets. Golden Lake will also conduct state-of-the art airborne and geophysical surveys to aid targeting. In addition, recently there have been significant “break-thru” geological insights that have refined the Carlin-type deposit model that can be applied on the Jewel Ridge project.
Top 15 Drill Intercepts
|Target||Hole||From (m)||To (m)||Width (m)||Au g/t||TD (m)||M*Au|
|Jewel Ridge & NJR||HRH833||91.4||114.3||22.9||3.35||169.2||77|
|Jewel Ridge & NJR||HRH834||16.8||35.1||18.3||3.73||123.4||68|
|Jewel Ridge & NJR||HRH831||21.3||38.1||16.8||3.56||202.7||60|
|Jewel Ridge & NJR||HRH1465||115.8||137.2||21.3||2.75||379.5||59|
|Jewel Ridge & NJR||PL7||4.6||10.7||6.1||5.87||62.5||36|
|Jewel Ridge & NJR||PL1||7.6||29.0||21.3||1.38||50.3||29|
Geological modeling of Jewel Ridge is targeting a large tonnage gold deposit with important silver values, over a north-south trend of at least 4 km where mineralization appears to be continuous along the Hamburg-Dunderberg contact. Also currently being targeted is the South Eureka prospect found on the top left of the property, featuring:
- 82 holes, avg depth 78 meters. 50 holes mineralized. Hit:miss ratio, 1.6 drilled, hit Au
- Target not drilled since the 1980s (tenure issues). 2012 patented claims acquired
- 20% of holes ended in or near gold mineralization
- Avg of 50 holes, 17.1 m, @ 1.16 g/t Au. At a 0.9 g/t Au cutoff, avg 15.1 m @ 1.98 g/t Au
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