Minerals North LLC is targeting north eastern Washington, an area where numerous historical mines exist and due to previously depressed commodity prices may have been overlooked. These areas have never been explored using modern exploration techniques or geographical models. The projects include two gold/silver leases on private land, Golden Reward and Poland China (See terms below). T he southern geographical location, infrastructure and climate allow for year round, low cost exploration activities and consistent news flow.
The Poland China Gold Historic Mine is located approximately 10 kilometres from the Kinross Buckhorn gold mine and less than 75 kilometres, by existing road, to the Kinross Kettle River gold processing mill. Poland China is consider ed to be a sedimentary hosted vein gold deposit. The main Kismet Vein had a mining grade of 8.2 g/T to 12.7g/T gold. The vein averages 2.1 metres in width increasing up to 4.5 metres wide and is hosted within graphitic argillite.
Historic reports state that the Kismet vein is traceable on the surface for a length of 750 metres and there are at least three other veins in the area that have been partly developed, one of which was 2.6 metres wide and traceable for 1500 metres. The mine workings cover only about 100 metres of strike length along the Kismet vein with two levels, leaving much of the vein un-mined. Since mining at Poland China ceased around 1940 there has been no recorded systematic and comprehensive exploration program on the property.
Samples collected during a recent site visit yielded a sample with 26 g/T gold 3 kilometres north of the historic mine site on the property. As well, two samples collected from the main adit returned 12.7 g/T and 15.5 g/T gold.
The 2012 initial exploration program will include detailed mapping, ground geophysics and soil sampling to delineate the extent of the Kismet vein and identify additional mineralized veins on the property. The exploration work will be conducted in the context of the sedimentary hosted vein style deposit model. This deposit style has the potential for multi-million ounces of gold. An example of this style of deposit is the Ballarat gold deposit in Australia with an estimated total resource of ~20 million ounces of gold.
The Golden Reward property is located approximately 60 kilometres from Kinross’s Kettle River mill. The property hosts an epithermal gold bearing vein system that extends across the property for more than 1 kilometre. Small scale historical mining was conducted from several adits on and near the property. The property has had little modern exploration with the exception of seven drill holes from three drill sites by Kennecott in 1989- 90. Two of the 7 holes steepened and failed to intersect the target. The remaining 5 holes intersected the mineralized structure at shallow depth. The best reported gold values from this limited drilling campaign were 1.40 g/T gold over 8.5 metres and 1.09 g/T gold over 9.8 metres including 2.74 g/T gold over 4.27 metres.
A grab sample collected during a recent site visit from exposed vein material yielded 14 g/T gold; other grab samples assayed from 0.52 g/T to 1.59g/T gold.
Golden Reward is close to drill-ready. Historic surface sampling data indicates that in general gold values improve at lower elevations. This target has never been adequately tested at depth. The opportunity here is to test for high grade gold/silver zones below depths of 200 to 300 metres.
During the 2012 exploration program the detailed historic geological map will be geo-rectified prior to outcrop sampling. A detailed magnetic survey will be completed to better position the mineralized structure in preparation for drilling and attempt to identify other existing structures on the property to test.