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 1990s 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.