There are 5 sub-parallel shears, at approximately 150 -meter separations, forming the ore zone of which three are known to carry mineralization.
A program of underground diamond drilling is designed to develop a NI 43-101 compliant resource report for ultimately up to 700,000 troz gold in 4-8 gram rock. Ore will be truck and rail hauled and treated at our partners mill. Current gold-bearing waste rock at surface grading 0.1 troz gold can provide 2019 revenue of over $20 million.
The Mustang Mine is a former underground producer of high-grade gold and silver.
Workings are accessed by 4 horizontal adits within the 3-5 meter ore zone which dips at 700 in competent silicified meta-sediments. A fifth horizontal production drive intersects four of the ore-bearing shears, perpendicular to the ore zone, at approximately 214 meters below the lowest adit and connects with the lowest adit by a vertical raise, in ore showing good gold grades. Surface drilling has identified extension of the ore to the west. The ore is open to depth.
The historic mine workings are expected to provide low-cost underground access and a rapid start-up to potential mining. One of these, a 1.4 kilometer exploration adit that reaches the Mustang Mine structure 110 meters below the workings, was completed in 1954 and inspected in 2006 and found to be in apparently sound structural condition. Also of interest is the 1235 adit, the main production adit, which is immediately below the Mustang Mine West zone.
The Mustang Mine incorporates over 74 square kilometers of mineral claims in prolific and historic Southeast BC, a region that has produced over 5.6 million ounces of gold and over $70 billion in mineral wealth to date starting with placer mining in the 1850s and moving to lode mining in the 1880s.
Located in south-eastern British Columbia, the Mustang Mine is just three kilometers from the next town and within train- and truckable distance from our partner facility for processing the minerals. Infrastructure in terms of power and rail is excellent, and the mine is a few kilometers from a Highway. Historically the Mustang mine can run year-round.