Silver discoveries were made in Pioche in 1862 and mining along high-grade fissure veins through 1875 produced $16,000,000 at metal prices of the time. The limestone replacement deposits at the Black Prince were located in 1905 by the Prince Consolidated Company which constructed the inclined shaft and performed most of the mining. Total production figures are not known.
Gold and silver mineralization occurs in a limestone replacement vein of hematite-stained quartz nodules, oxidized pyrite, and pyrolusite. An altered granite porphyry dike parallels the fissure footwall which is also mineralized. The vein varies from 15 to 36 feet in width with values said to increase with depth.
Altera Resources completed 15 drill holes in 1981 with 12 intersecting the Black Prince vein. A drill hole yielded an average 12.4 ft true thickness of the vein and 3.4 opt silver. The vein is relatively continuous along the strike for 2,600 feet with a 51-degree dip. Altera’s historical estimate is a mineral resource of 40,000 tons .03 opt gold and 8 opt silver within 300 feet of the surface.
The above results are historical in nature and need to be confirmed independently by the Company.