Snyder Mine (CA)
Highlights:
- Historic operators delineated 189,000 ounces Au in 6.6 million tons.
- The Company has obtained and evaluated recently acquired data and enlarged the land position to ~800 acres in order to capture the entire historic resource.
Overview
Project Location and Access
The Company has located claims on a historic past-producing mine named the Snyder Mine. All of the claims are located on United States Forest Service land in the Tahoe National Forest. Access is from Downieville north on Main Street for 0.5 mile, turn left on the Gold Bluff Road (FS 506), and continue north for one mile to the vicinity of the claims.
The Company maintains 38 unpatented mining claims for the Snyder Project, designated the Ox (25) and GB (13) claims totaling 2 claim groups.
Geology and Mineralization
The geology of the area is classic Mother Lode Country, Paleozoic Calaveras Formation that is composed of slate, quartzite, and limestone. Mafic dikes related to fault zones are the common hosts for the mines.
Ore bodies occur in massive and sheared quartz veins, often with abundant fault gouges. The veins are mainly slate and range in thickness from a few inches to tens of feet. The ore bodies contain disseminated free gold, pyrite and minor amounts of other sulfides. In addition, greenstones with disseminated gold-bearing pyrite known as “gray ore” sometimes are adjacent to the quartz veins at depth. The ore shoots in the fault structures often have great continuity in depth extending hundreds of feet below the surface.
The Company recently acquired a historic database containing drilling and sampling that occurred in the early 1990’s which indicates a resource estimate of about 175,000 ounces of gold at about 0.10 opt grade. This resource was calculated looking for a bulk mineable target. The resource calculation could alternatively be estimated for an underground mine at a higher grade but with fewer ounces. These estimates need to be validated by the Company with new drilling and sampling.