Project Description
Background On The Project
Silver and base metal deposits of the world-renowned Coeur d’Alene Mining District extend from western Shoshone County, Idaho to eastern Mineral County, Montana. Silver Trend Mines LLC owns three prospective mining properties in what is often called the East Coeur d’Alene District (East CDA). Each property contains past-producing mines and exhibits the structural controls, wall rock alteration and vein mineralogy typical of major producers in the highly productive main district further west. Several high-rank exploration targets occur on Silver Trend ground and have yet to be explored using modern and comprehensive methods.
On January 1, 2021, the Company signed a Lease with Purchase Option Agreement for 19 unpatented mining claims located in Mineral County, Montana with the owner and Lessor, Silver Trend Mines, LLC. The 19 claims comprise the Prosperity, Tarbox and Black Traveler project land positions. The term of the lease is ten years and may be extended for up to two successive terms of ten years each. Under the agreement a quarterly net smelter royalty shall be paid on all development and production ores and minerals extracted, milled and sold from the leased premises. The net smelter royalty shall commence upon the production and sale of ores. The Company is required to make advanced minimum royalty payments annually. At any time during the term of the lease, so long as it is not in default, the Company may exercise the purchase option, whereas all previous minimum advance royalty payments will be deducted and the purchase price adjusted according to the change in the US Consumer Price Index.
Prosperity Property
Location and Access:
The Prosperity group of unpatented mining claims are located in eastern Mineral County, 6 air miles north of Superior. Access is by 2WD county and USFS roads northward from I-90; the last 1.5 road miles is 4WD and unmaintained. The property and access roads are snow-free 7-8 months annually.
Geology, Mineralization and Exploration:
The Prosperity is underlain by Proterozoic Belt sedimentary rocks, predominantly argillites, siltites and quartzites of the Helena and Wallace formations. The NW-trending Osburn fault and its Montana counterparts dominate the local structural and topographic grain and are the overriding ore control features. The mesothermal vein deposits in western Montana are isotopically similar to veins in the main Coeur d’Alene District and are likely to persist to great depth.
The Iron Mountain Mine, located 3 miles SE from the Prosperity property, is the working model for the Prosperity targets. The Iron Mountain was the East CDA’s most productive mine, in continuous production from 1909 to 1930 and averaging 6 opt Ag plus significant Pb and Zn credits. The deepest level reached was 2,200 feet below the surface, about one-half the depth of major silver/base metal producers in the main district.
Recent geologic mapping and sampling by Silver Trend, and data from previous operators, document a well-mineralized shear fault system that has continuous strike expression for greater than 2 miles and appears to contain multiple parallel or en echelon veins which parallel the axis of the Keystone syncline. Reconnaissance level soil sampling confirms the continuity of the alteration envelope and distinctly anomalous Ag, Pb and Mn values along the principal vein (the “Blue” or “Cabin” vein).
Vein structures dip steeply south or southwest and are hosted by siltites that display local intense shearing and phyllitic overprint. Ore minerals include argentiferous galena, tetrahedrite, chalcopyrite, sphalerite and one report of ruby silver. Vein gangue minerals include quartz, barite, pyrite, ankerite, possible siderite and iron and manganese oxides. This suite of minerals and gangue composition mirrors the compositions seen in the main district further west.
Tarbox and Black Traveler Property
Location and Access:
The Tarbox and Black Traveler claim groups are located 2.5 miles north and 3.5 miles northeast from Saltese, Montana, respectively. Access is by 2WD accessible forest roads northward from I-90 which runs roughly east-west through this area. The properties and access roads are snow-free 7-8 months annually.
Geology, Mineralization and Exploration:
The East CDA District is underlain by Proterozoic Belt sedimentary rocks, predominantly quartzites, argillites and siltites of the Revett, St. Regis and Wallace formations. The NW-trending Osburn fault and its Montana counterparts dominate the local structural and topographic grain and are the overriding ore control features.
The mesothermal vein deposits in western Montana are isotopically similar to veins in Idaho’s Silver Valley and are likely to persist to great depth. Historically productive veins and the most compelling exploration targets are indicated at the surface by topographic lineaments and a distinctive phyllitic/sericitic alteration with core domains of brecciation and elaborate gossan. Ore minerals include chalcopyrite, galena, sphalerite, tetrahedrite and sulphosalts. Vein gangue is composed primarily of quartz, ankerite, sericite, iron oxides, siderite and calcite.
These geologic features are very similar to the surface character of the vein system exposed at the “glory hole” surface open cut at the apex of the Gold Hunter vein system. The Gold Hunter vein system is a major active mine located several miles to the west of Hecla Mining Company’s Lucky Friday Mine. This mine is now one of the deepest mines in North America, extending at depth to greater than 9,000 feet below the surface.
The Tarbox Mine is a past producer and reportedly hosts a historic 200,000-ton historic resource grading 2.4 opt Ag, 4.5% Pb and 7% Zn with one section assaying up to 8% Cu. Using the Gold Hunter vein system analog, geologists from Silver Trend LLC interpret this mineralization to have increasing silver and decreasing copper grade with depth.
One previous exploration drill hole at the Black Traveler Mine was intended to locate the downward extension of a major oxidized vein that yielded assays up to 20% Cu. Recent VLF-resistivity data and review of historic records together suggest that the vein is dipping 90 degrees or steeply south, opposite of the targeted direction.
East CdA Project Work Plans
Silver Trend LLC began permitting a drilling and trenching plan of operations in the fall of 2020. Final approval of the plan was granted in April 2021, and a reclamation bond has been put in place which will be returned to the Company upon successful completion of the planned activities and reclamation to the standards required by each of the permitting agencies.
The plan provided for a geophysical survey of the three sites to begin in July 2021 followed by trenching work on all three projects to start in August 2021. The geophysical work was completed and trenching at the Tarbox and Black Traveler were also completed. Underground sampling at the Prosperity was completed as well.
The drilling program for 2021 was delayed due to the prevalence of forest fires in the area in August. The USFS only allowed limited access to the exploration area which caused the delay.
A drilling contractor has been contracted to undertake the planned drilling at the Black Traveler and Tarbox sites beginning in June 2022 and should be completed by late August 2022.