Nevada Mining Unit Exploration
Gold Resource Corporation's Nevada Mining Unit now controls approximately 27,300 acres of development and exploration lands in south central Nevada's Walker Lane Mineral Belt. All properties within the Nevada Mining Unit have potential for high-grade gold open pits with surface and near surface mineralization.
Isabella Pearl is located within the Walker Lane Mineral Belt, Nevada, U.S.A. It is in advanced stage engineering and permitting for a potential open pit heap leach project with low estimations of project capital expenditures. The project contains third party Proven and Probable reserves estimated at 2,733,500 tonnes grading 2.18 grams per tonne, which equates to 191,400 gold ounces (report completed by Mine Development Associates, Reno, Nevada; see table below). Future production development anticipates two adjacent open pits with the Isabella pit averaging approximately 1 gram per tonne gold with mineral outcropping at the surface, and the Pearl pit averaging approximately 3.7 grams per tonne gold with a higher grade core averaging nearly 5 grams per tonne gold. The project estimates an average 5:1 strip ratio with metallurgical tests estimating gold recoveries for crushed oxide rock between 80 and 85 percent using conventional heap leaching. Small amounts of silver are expected in recoveries, which would be treated as by-product credits against gold production costs. The Company is working towards a production decision as soon as possible.
Mina Gold is located in the Walker Lane Mineral Belt, Nevada, U.S.A. The property has a third party mineralized material estimate of 1,606,000 tonnes grading 1.88 g/t gold in the property’s "Monster Zone". The Monster Zone consists of parallel structures approximately 45 meters apart which remain open on strike and depth. The Monster Zone mineralization is covered by patented claims, which are surrounded by multiple unpatented claims included in the transaction, giving additional exploration upside potential along this mineralized trend.
Gold Mesa is located in the Walker Lane Mineral Belt, Nevada, U.S.A. Gold Resource Corporation optioned the property in November 2015. Gold Mesa covers an area of approximately 4,580 acres consisting of 229 unpatented claims and 3 patented claims. A small portion of the property's claims were mined historically on a small scale as an underground mine in the early 1900's and as a small open pit mine in the late 1980's. The property has potential for a high grade gold open pit, or multiple gold open pits with mineralization at shallow depths below surface. Existing infrastructure includes nearby electricity, road access and potential water from a historic well located on the property. Historical metallurgical test work by N.A. Degerstrom Inc. in 1986 showed up to 88% recovery of contained gold and up to 35% recovery of contained silver obtained by a 35 mesh grind and agglomeration.
Drill intercept highlights include;
- 15.24 meters of 6.27 g/t gold
- 33.54 meters of 1.89 g/t gold
EAST CAMP DOUGLAS
Gold Resource Corporation acquired 100% in the East Camp Douglas property in January 2017. The East Camp Douglas property covers an area of approximately 5,300 acres consisting of 277 unpatented claims, 12 patented claims and an additional 200 acres of fee lands in Mineral County, Nevada. The property is located approximately 14 miles southeast of the Company’s Gold Mesa property. East Camp Douglas is situated along strong structural controls and alignments within the Walker Lane mineral belt, which hosts numerous significant epithermal gold and silver deposits such as Paradise Peak, Borealis, Bodie, Goldfield and Tonopah. Precious metal epithermal mineralization at East Camp Douglas occurs as both widespread high sulfidation alteration areas and low sulfidation veins.
Gold was first discovered at East Camp Douglas in low sulfidation quartz-adularia veins in 1893. Gold mining flourished in the district until 1902, with intermittent production through the 1980's. Historic district gold production is estimated at approximately 100,000 ounces. Modern exploration (post 1960's) by several mining and exploration companies has established modest gold resources in five separate areas in the district, with over 3,000 meters of drill core and a large exploration database. Company management believes this large property has numerous untested targets and the high-grade drill results warrant an extensive exploration program.
Historic drill results from East Camp Douglas (provided by Diversified Inholdings, LLC and several third party exploration companies) include: