Junior company Chase Resources (VSE) will be exploring two past-producing properties in the Western U.S. for their potential to host large, heap leachable reserves that can be mined by open pit methods. The company’s most recent acquisition is the 1,400-acre White Swan-UP project near Baker, Ore. The property is accessible by road and contains a number of former mining operations, including the old White Swan mine. All the old mining operations were in oxide ore.
A mineralized shear zone up to 200 metres in width is reported to have been exposed over an indicated strike length of over 3,500 metres on the property.
Chase plans to carry out a trenching and drilling program in order to delineate the extent of a mineralized shear zone on surface and at depth later this year. The company believes the property has potential for a heap leachable deposit minable by open pit methods “in the 50-60 million ton range.”
Meanwhile in Arizona, Chase expects to start a trenching and drilling program on its recently acquired Sungold property near Prescott.
Accessible by road, the 740-acre property hosts the Bueno mine, a former gold producer from narrow, high-grade veins contained within a wide zone of shearing. Only recently has the property been recognized as being prospective to host an open pit, heap leachable gold deposit.
This work is reported to have led to the discovery of two zones of gold-bearing mineralization exposed over a total length of 1,000 metres. These wide mineralized shear zones, together with potential extensions, are considered likely to form one large mineralized zone.
Based on completed sampling, the company is anticipating an average gold grade of 0.05 oz. or better.
Ian Rozier, director, said this year’s exploration program is aimed at determining the continuity of the structure and confirming average grade. Both reverse circulation and core drilling are planned.
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