The Ledbetter Canyon Mine was discovered and staked in 1923 and the owner milled 400 tons of ore, and by 1937 the mine was idle. All the workings on the claims which include two adits, one shaft and numerous trenches and shallow pits are from this period.
Gold mineralization occurs in veins associated with a Tertiary rhyolite porphyry dike placed along a fault in the densely welded tuff of the Toiyabe Quartz Latite. The gold- and silver-bearing veins, as much as 2 feet thick, contain quartz, gouge and a small amount of pyrite. Noteworthy is the lack of sulfide minerals occurring with precious metals. While gold content at the surface is limited to narrow veins in the welded tuff, rocks at depth with more porosity may host a large, disseminated deposit.
The property was leased by Homestake Mining in 1984 who believed it could hold potential for a bulk tonnage, low-grade gold deposit. Kinross’s Round Mountain Mine is 20 miles due east from the property. The Company intends to target this property as a potential disseminated gold deposit in the future with initial drilling using reverse circulation.