Under option to Crocan Capital Corp. (see news release dated November 15, 2018). The Gold Chief Property is on the east flank of Chief Mountain, 9 km north of Caliente in Lincoln County. The property consists of 24 Federal lode claims and covers the most significant producing mine in the Chief Mining District.
The Gold Chief Mine operated from the early 1900’s until 1940 with documented run-of-mine production of 5224 t @ 6.18 g/t Au (1913-1914) and 189 T @ 1.1 OPT Au-equivalent (high grading / 1937-1940). Underground development included a 131 metre inclined shaft, 300 metres of drifts and cross-cuts, and near surface stopes. Recent sampling of the back of the remaining glory hole by Silver Range in 2016 returned 14 m @ 1.93 g/t Au including 4 m @ 3.86 g/t Au with best results (1 m chip) of 4.58 g/t Au.
The Gold Chief Mine and nearby SOA Mine are hosted in Cambrian Highland Peak carbonates. Mineralization consists of wide fault breccia in the Stampede Detachment Fault and an associated lateral ramp. It has been intersected in the SOA Mine and in drill holes over a length of approximately 300 m along the Stampede fault. Precious metal mineralization appears to have originated from either the nearby Caliente Caldera or from the Cobalt Canyon diorite stock which underlies much of the Chief Mining District. There is potential for significant mineralization in the area if the favourable carbonate stratigraphy and structural network persists to the east and north.