Under option to ATAC Resources Ltd., see news release dated February 25, 2020. East Goldfield is a high sulphidation gold target 12 km east of Goldfield Nevada. High grade gold mineralization was discovered at Goldfield in 1902 and mining was conducted continuously in the Goldfield Main area until 1952 and continued intermittently to this day at several small operations (~4.2 M oz Au USGS estimated production). In the 1990’s Rio Tinto discovered the Gemfield Deposit north of Goldfield - currently under development by Gemfield Resources, a subsidiary of Waterton Resources (21.2 Mt @ 0.88 g/t Au – 600 K oz). Gemfield is planning on building an mine at Gemfield to process residual ore from the Goldfield Main deposit and ore from the Gemfield Deposit and MacMahon Ridge (4.6 Mt @ 1.36 g/t Au – 199 K oz). Highway 95, the main artery between Reno and Las Vegas, was rerouted around the Gemfield Deposit in 2019 and Gemfield Resources has received final permits from State and Federal authorities.
Gold in the Goldfield District is found in residual (vuggy) silica ledges and replacements in permissible horizons in the Milltown Andesite, the Goldfield Dacite and underlying units. Quartz alunite alteration associated with the deposits is extensive and defines the structural controls on ore deposition. These include a circular fracture ring centred on a presumed buried intrusive body east of Goldfield and linear feeder system connecting to the southern margin of the circular fracture ring. The East Goldfield project covers the linear fracture system.
Exploration in the target area apparently dates from the time of the principal discoveries at Goldfield. The most significant workings are at the Tom Keane Mine which was developed prior to 1931 and produced on a minor scale by leasing. Workings at the mine consist of a 500-foot inclined shaft and 2860’ of drifting on 4 levels. A 1934 report examination documented sampling returning 11.6 m @ 2.88 g/t Au on the 219 level and 3.04 m@ 4.11 g/t Au on the 319 level. Romarco Minerals explored in the area in the late 1990’s and drilled two holes in the general area in 1999 with no significant results. In 2003, Metallic Gold Ventures drilled 10 apparently shallow holes in the immediate area of the Tom Keane Mine, reporting anomalous gold in all holes and gold greater than 1 g/t in 9 of the holes. Best reported intersections with respect to width and grade respectively were 44.21 m @ 1.03 g/t Au and 4.57 m @ 8.57 g/t Au. Silver Range staked the Tom Keane Mine in 2018 and conducted geological mapping; prospecting; stream sediment and soil geochemical surveys; and alteration mapping in the area during 2018 and 2019. In 2020, Silver Range expanded the claim block from 4 to 69 claims.
Mapping by the USGS in the early 1970’s in the East Goldfield Project area shows the area is underlain by Milltown Andesite, Goldfield Dacite and an enigmatic breccia unit identified as a landslide deposit. The breccia is intensely altered and contains clasts of both the Milltown Andesite and the Goldfield Dacite. Stream sediment and soil geochemical anomalies indicate that this unit is weakly anomalous in gold, silver, bismuth and copper – key pathfinder elements for high sulphidation deposits. The Tom Keane Mine is on the margin of the breccia unit.
Silver Range believes that the breccia unit is a hydrothermal breccia, perhaps an altered cataclasite unit. Hydrothermal breccias are found with most high sulphidation deposits and often host high grade gold mineralization. The tops of fully preserved high sulphidation systems are frequently barren, with at best only weak overlying geochemical leakage anomalies. Silver Range is focusing exploration on the hydrothermal breccia and adjacent Milltown Andesite and Goldfield Dacite, seeking a blind deposit along the structural corridor.