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Goldfinger Project

April 2010

The Goldfinger Project is currently being developed and when complete will consist of 50 unpatented lode mining claims.

$1,250,000 with terms
 Make an offer to lease with an option to purchase based upon proving reserves


SUMMARY REPORT ON THE GOLDFINGER PROJECT
PLUMAS COUNTY, CALIFORNIA


SUMMARY

The Goldfinger project is comprised of unpatented, lode mining claims in Plumas County, California about 12 miles south of the town of Quincy. The property has recently been explored with trenching and drilling by two major mining companies. 

Gold values of up to 125' @ 0.062 oz Au/ton were found in the trenches, and a mineralized zone approximately 1400 feet-long was indicated along a dilatant zone in the Melones Fault.  Drilling results were encouraging, and one hole, GF-5, contained 90 feet which averaged 0.098 oz Au/ton in near-surface, oxidized rock. 

The major companies were unable to develop their minimum target size of 1 - 2 million ounces, and consequently they returned the property to the owner.  An evaluation of the project data by the consulting geologist, suggested that the mineralization may have more  stratigraphic and structural controls than were previously recognized, and that ore-grade material may extend into untested areas.  A drilling program is required to test the project's potential to host an economically viable gold deposit.

INTRODUCTION

We control a gold exploration project at the northern end of the Sierra Nevada Foothills Gold Belt which is the northern extension of the famous Mother Lode Gold Belt.  The property contains ore-grade gold values in surface trenches and in drill holes and has the potential to host a gold deposit amenable to open-pit mining methods and heap-leach recovery techniques. We have prepared this report to present the project data to companies interested in participating in a joint venture on the property.
 
PROPERTY DATA

The Goldfinger project is comprised of unpatented, lode mining claims in Plumas County, California about 12 miles south of Quincy. Access is via a county-maintained gravel road.  The property is at an elevation of 6500 feet and most of the hillsides are timber covered.  There is no power in the immediate area, and water could be developed from wells.

REGIONAL GEOLOGY

The Goldfinger project is within the northern part of the Sierra Nevada Foothills Gold Belt and is adjacent to the Melones Fault Zone (MFZ).  Rocks in the region represent a series of allochthonous terranes accreted onto the western edge of the North American continental plate.  The MFZ is a regional-scale structure found within the Gold Belt, and  many of California's well known lode mines occur on or near the MFZ.  The fault's geographic if not genetic relationship to gold deposits is well documented. Other features commonly associated with the ore deposits of the Foothills Gold Belt are quartz-sericite-pyrite alteration, quartz veins and stockworks, the presence of mariposite and strongly sheared bodies of serpentenite.

South of the Goldfinger project a drill report indicated a reserve of 250,000 ounces of gold with a grade of  0.05 oz Au/ton.  Gold mineralization is hosted by rocks of the Shoo Fly Complex which are separated from a serpentenite zone by the MFZ.  Another deposit north of Goldfinger contains a reported 10 million tons grading 0.07 oz Au/ton.

PROJECT GEOLOGY

The principal mineralized rock type at Goldfinger is a quartz crystal-bearing tuffaceous sediment which has been regionally metamorphosed to a chlorite schist.  Within the mineralized area the rocks have been altered to a quartz-sericite-pyrite schist. The MFZ separates altered and mineralized metasedimentary rocks of the Shoo Fly Complex on the west from sheared serpentenite and granodiorite on the east.

The MFZ is normally a north-trending, east-dipping shear zone, but at Goldfinger the MFZ makes an abrupt turn to the northwest.  This change in direction has created a dilatant zone which now hosts the gold mineralization.

The dilatant zone has a strike length of approximately 5600 feet
and a maximum width of 1500 feet.


Known gold mineralization is exposed in the northern two thirds of the zone, and the southern one third is covered with Tertiary volcanic cover.

PREVIOUS WORK

Placer diggings in the drainages surrounding the project indicate the area was prospected for gold during the late 1800's. There are a number of small prospect pits on the project, and the waste dump at one adit suggests there may be several hundred feet of underground workings.  There is no recorded production from the property.

In August of 1988 a prospector sampled some mineralized outcrops along Fingerboard road, and as a result of this sampling Kennecott acquired the property and staked additional claims. During the fall of 1988 Kennecott mapped the property and put in a number of trenches which cut across the MFZ.  Assay results from the trenches are shown on Figure 4.  In 1989 Kennecott drilled 17, angle, reverse circulation holes to test the mineralization exposed in the trenches.  The drilling encountered ore-grade zones. Figure 5, but the distribution of the zones suggested the deposit was not of sufficient size to warrant additional work by Kennecott.  The project was returned to the prospector.

Placer Dome then acquired the project and drilled two core holes and an additional eleven RC holes and found similar intervals of ore-grade mineralization, Plate I in pocket.  Placer also determined that the project did not meet the minimum, 1,000,000 ounce, size criteria of the company, and the project was returned to the prospector.


EXPLORATION CONCEPTS

Previous exploration work on the Goldfinger project was based on the assumption that the gold mineralization was directly related to the MFZ, and that an ore zone would be parallel to the MFZ.  The gross geometry of the mineralized zone based on the trench assays certainly supports this concept, but the drill results suggest that there are more structural and stratigraphic controls on the mineralization than were previously recognized.

Virtually all of the Kennecott and Placer Dome drill holes were drilled in a N 45 E or S 45 W direction, perpendicular to the long axis of the gold anomaly.  Kennecott's geologic map shows that the interbedded sandstones and phyllites of the Shoo Fly Complex have a N 10 to 60 E strike and a very steep dip to the southeast.  Gold mineralization in the surface trenches as well as in the drill holes is best developed in phyllitic units which show intense quartz-sericite-pyrite alteration.  The sandstones and quartzites are generally barren.

This exploration model is based on the concept that the gold mineralization is probably related to the MFZ, and that the mineralization traveled away from the fault along structurally prepared zones and favorable stratigraphic units within the Shoo Fly Complex.  If this is the case, the amount of mineralization in the trenches and drill holes suggest that there are many mineralized horizons on the project, and that a significant exploration target remains to be tested.

Trench D on Plate I can be used to demonstrate the exploration model.  The mineralized zone in the trench and in holes KGF-3 and PGF-18 are considered intersections of a N 45 E striking unit dipping steeply to the southeast.  The increase in gold values at the extreme southwest end of trench D suggests that the mineralized zone extends at least 300 feet out from the MFZ. Trench C is 1000 feet southwest of trench D and lies across the projected extension of the mineralized zone.  Trench 0 intersected forty feet of mineralization grading 0.035 oz Au/ton.

It therefore seems reasonable to presume that the mineralization in other trenches and drill holes represents other mineralized horizons or structures that have a northeast strike and dip steeply to the southeast.  None of the existing drill holes were positioned to drill across stratigraphy, and consequently.......

a great deal of exploration potential remains on the Goldfinger project.

RECOMMENDATIONS

    A fairly straightforward exploration target has been developed on the Goldfinger project, and a drilling program is recommended to test the target.
Existing drill roads can be used for the Phase I drilling, and if this is successful, new roads can be built for an expanded Phase II program.  Phase I should consist of 15, angle RC holes drilled in a N 45 W or S 45 E direction. These holes will be positioned to test the down-dip and along strike extensions of the known mineralized zones.


Mother Lode Belt


Mother Lode Map


Drill Map of Goldfinger Project

drill map


Goldfinger Drilling Summary
Goldfinger Drill Summary


Photo's of Original Exploration Work

 



















 


 


 


 



 




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