In April 2004, the Company staked several contiguous claims, comprising the Mud Springs Property, within the area‐of‐interest of the Baxter Property agreement. The Mud Springs Property consists of 55 claims (approximately 445 hectares) in Churchill County, Nevada.
Detailed geologic mapping and sampling were completed at the Mud Springs project in 2005. Mapping reveals a widespread system of gold‐ and silver-rich veins, perhaps related to the upper levels of a molybdenum‐bearing intrusion. Of 207 samples collected, 8% contain +300ppb Au, 5% contain +100g/t Ag, and 20% contain +0.01% molybdenum ("Mo"). Grab samples of veins and silicified fault zones contain concentrations ranging from background levels up to 9.97g/t Au, 785g/t Ag, and 0.0746% Mo. Other base metals are only weakly anomalous, generally less than 100 ppm combined copper, lead and zinc at surface, but lead and zinc show distinctively zoned increases with depth in drill holes.
The Company's 2007 drilling program consisted of seven reverse‐circulation drill holes (1,397 metres), where seven vein/fault zones were tested. Precious‐metal assays were not encouraging; however, geochemical zoning and alteration suggest that a Climax‐type Mo system may lie at depth.
2007 drill program
A total of seven reverse-circulation drill holes (1,397 meters) were completed at Mud Springs. Geochemical zoning and alteration suggest molybdenum mineralization may lie at depth.
Surface samples of veins and historic small mine dumps contain up to 1 g/t Au and 381 g/t Ag. Three zones of veining have been identified, one with a strike that can be traced for more than a kilometer before being covered by gravel. Evidence of several drill holes has been found on the property, possibly related to earlier exploration for disseminated gold potential.
