The South Lida project is located 35km SW of Goldfield, Nevada.
Ownership
100% owned (exploitation license)
Geology
The South Lida district is situated on the southwest flank of the Palmetto Mountains in southern Esmeralda County, Nevada, 58 km south-southwest of Tonopah, Nevada. The area produced some silver, minor base metals and copper and contains strong, local gold mineralization. Exploration efforts in the past have concentrated on silver with little focus on gold.
The rocks in the area range from Cambrian sediments of the Harkless, Poleta and Mule Spring Formations and consist of shaley to phyllitic siltstone and thick to thinly bedded limestone. The Cambrian rocks are cut by NE-striking felsic and dacitic dikes, presumed to be of Jurassic age.
Structure
Strong EW-striking fabric exists with auxiliary NE-striking and NW-striking faults that localize mineralization. The area appears to have very thin pediment, or gravel cover and the exposed mineralization trends beneath the gravel cover to the west, south and east. This potential "buried" mineralization has never been explored and presents numerous structural intersections and targets.
Mineralization
Strong iron-oxide gossans, quartz veins and newly sampled jasperoids yield up to 11 grams/tonne gold and elevated pathfinder elements, especially arsenic. There appear to be at least three pulses of mineralization:
1) base-metal-rich silver/copper mineralization;
2) strong arsenic-rich gold-bearing gossans; and
3) latest gold-bearing jasperoids and breccias.
It is worth noting that the latest jasperoidal/breccia phase of gold mineralization has not been historically documented or sampled and represents significant exploration and discovery potential.
Historic Exploration
Numerous shallow prospect pits and shafts were driven in the district, mainly targeting the bold, iron-oxide-rich gossan outcrops. These outcrops locally yield gold values in excess of 10 grams/tonne. Although gold values are extremely anomalous, silver was the main target commodity due to demand at the time of mining and milling in the area.
Numerous companies have reviewed the property, with the latest, strong effort occurring in the late 1980s. Local rock/outcrop sampling evidence is apparent and there are existing rotary percussion drill holes within the greater district, but there is no evidence of a major drill program.
Geophysical Surveys
Three IP profiles were run across the NE portion of the greater Lida district in 1989 by Gold Fields Mining Corp. The area of influence is located 1 mile to the northeast of the current project/claim block and the data, therefore, are not of use in current interpretations. Further geophysical studies, especially Phase 1 wide-spaced gravity lines are highly recommended to delineate bedrock surfaces and colluvium/gravel depths.
Geochemistry
Evaluation of the geochemistry in the area is in progress. The complex overlapping of systems is intriguing, indicates numerous potential mineralizing events and will need further detailed review and data collection/interpretation.
Elements:
Gold:
Anomalous gold values up to 11 grams/tonne appear widespread in gossans, jasperoids and veins and form an anomaly which is only equaled by arsenic. The potential for disseminated gold peripheral to the currently known mineralization in shallowly covered pediments is a strong possibility.
Arsenic:
Arsenic values, greater than 1000 ppm, are common across the project area and appear to form a halo around the gold mineralization.
Pathfinder Geochemistry:
Historic and newly acquired multi-element data indicate, locally, that base and precious metal mineralization may be related and there were multiple episodes of mineralization with gold and arsenic being superimposed on earlier base-metal/silver mineralization. It is encouraging that the widespread gold mineralization, which is not as focused as the base-metal mineralization, extends into thin cover to the west and southeast and has not been explored or drilled. The area exhibits the patterns of metal/geochemical zonation and further contouring and evaluation of incoming data will vector exploration efforts. Preliminary data indicate intensifying gold mineralization in the east area of the project where it may dive under pediment gravel cover.
