Golden Repeat, Nevada, USAIn December 2010, Dynasty signed a Letter of Intent with Mill Bay Ventures Inc (TSX: MBV) to earn a 70% interest in the Golden Repeat property situated in the Midas region of Nevada. Click here for the original news release.
- Located in Nevada, along the Carlin Trend with similarities to the Midas Gold District:
- In close proximity to major gold mines including Newmont's Ken Snyder gold-silver mine and Twin Creeks gold mine as well as Barrick's Getchell and Pinson gold mines
- Property hosts widespread alteration, the potential for both Carlin-style and Epithermal Bonanza-style gold discoveries
- Largely Untested by Drilling
Click to Enlarge
Property Overview: Location, Infrastructure, History
The Golden Repeat property consists of 49 contiguous mining claims totaling 980 acres (392 hectares) in northwestern Elko County, Nevada.
The property is easily reachable by road from Interstate (80) and the local infrastructure and political climate strongly support mining.
In 2009 this region produced approximately 5.8 million ounces of gold with a total proven and probable reserve of 75 million ounces. (As reported in the Economic Overview of Nevada's Mineral Industry).
The property was staked in 1983 by Clark Powell and others but only minor exploration work was completed until the 1990's when a joint venture was formed with Romarco Minerals Inc. In the 1998/99 season Romarco conducted a very focused drill program in covering a limited area in the northeast corner of the property. Results returned pervasive gold values in the Clover rhyolite and intersected significant gold mineralization in four of seven holes, including five feet of 2 g/t gold (Bryan Slim 2004). In 2006 further exploration for Mill Bay Ventures included 37 rock chip samples collected from various parts of the property and returned assays as high as 100 ppb gold.
Geology, Mineralization and Targets
The Golden Repeat property lies on the north flank of the Midas Trough, along the Carlin Trend, a regional north-northwest trending gold belt, and within the Northern Nevada Rift, a regional northwest trending structural and volcanic zone.
The geology of the Golden Repeat project is similar to that of Newmont's Ken Snyder Mine (formerly Franco-Nevada Mining Corp.) which hosts over 4 million ounces of gold resources and lies just ten miles to the east. This includes Middle Miocene bimodal extrusive rocks and sedimentary rocks, specifically exposed basalt flows and ashy basalt lahars with thick interbeds of variably welded rhyolite tuff, rhyolite lapilli tuff and tuffaceaous sedimentary rocks (siltstones and sandstones). The northern bluffs are felsic to intermediate flows and welded ash flow tuffs separated by a basal vitrophyre.
Rock chip samples show a broad area of anomalous gold values up to 100 ppb and elevated levels of silver, arsenic, antimony and mercury, which are commonly associated with gold-bearing epithermal systems. This alteration is consistent with the distal alteration of a low-sulfidation epithermal system. These systems are numerous in the middle Miocene in Nevada; two well-known deposits of this type are Mule Canyon and the Ken Snyder mine at Midas. In addition, widespread propylitic alteration, quartz-calcite veining and silicification on the property indicate that the Golden Repeat project could host a gold-bearing, mineralizing event.