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Caldera Summary The Caldera property is located in the Walker Lane region in west-central Nevada and currently encompasses over 2000 acres of unpatented claims. The property exhibits widespread volcanic-hosted epithermal gold/silver mineralization similar in style to other major systems in the vicinity: the Round Mountain mine (14 million ounces) and Newmont’s Midway project. Previous surface work on the property has generated abundant ore-grade rock chip samples (up to >1 opt gold and >20 opt silver) scattered over an area at least 1.5 miles long by 0.5 miles wide. Drilling has intersected ore-grade values in at least three areas including 10 feet at 1.1 opt Au, 25 feet at 0.25 opt Au, and 100 feet at 0.03 opt Au at depths of less than 500 feet. Caldera has outstanding potential to host both bonanza-grade veins and bulk-tonnage lower grade ore bodies. Location The Caldera Property is located in the southern Shoshone Range, 41 miles (70 km) north–northwest of Tonopah, in Nye County in west-central Nevada in the southwest portion of the Great Basin. The property consists of 134 unpatented claims covering 2,680 acres. The southern Shoshone Range is comprised mainly of Tertiary volcanic units extruded from several different volcanic centers and calderas in the vicinity. The property lies near the inferred margin of one of these calderas, the Peavine caldera. Gold mineralization on the Caldera property is related to stockwork quartz-adularia veining and diffuse dissemination as irregular replacements of silica. Geology and Target Mineralization The Caldera property area represents a window through younger post-mineral volcanics that exposes various mid-Tertiary felsic welded tuffs, subvolcanic intrusives, and minor units of volcano-clastic sediments. The general dip of the volcanic units in the project area is to the west. The project area displays a large area of hydrothermal alteration with widespread strong geochemical anomalies. The mineralization style at Caldera is that typical of an epithermal volcanic-hosted precious metal system with gold and silver dominant in fault zones, silicified breccias, and stock work zones. High-grade values in drill intercepts and surface samples indicate that a bonanza-vein system may occur similar to the nearby Round Mountain Mine or the Midway project and are the primary focus of exploration. Thicker lower-grade drill intercepts suggest that bulk tonnage targets also exist. Gold and silver mineralization on the Caldera property is related to stockwork quartz-adularia veining and diffuse dissemination as irregular replacements of silica that occur along west-northwest structural trends. Mineralization and alteration, including silicification, argillization, and bleaching, cover about a 3.5-square mile (9-square kilometer) area. Open space filling by late crystalline and drusy quartz, as well as abundant jarositic staining, are common at most mineralized sites and prospects. |
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