The Goldfinger Project is currently being developed and when complete
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
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
with trenching and drilling by two major mining companies.
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
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
structural controls than were previously recognized, and that ore-grade
material may extend into untested areas. A drilling program
required to test the project's potential to host an economically viable
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.
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
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
road. The property is at an elevation of 6500 feet and most
the hillsides are timber covered. There is no power in the
immediate area, and water could be developed from wells.
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
found within the Gold Belt, and many of California's well
lode mines occur on or near the MFZ. The fault's geographic
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
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
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.
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
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
The MFZ is normally a north-trending,
shear zone, but at Goldfinger the MFZ makes an abrupt turn to the
northwest. This change in direction has created a dilatant
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
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
In August of 1988 a prospector sampled
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
the trenches are shown on Figure 4. In 1989 Kennecott drilled
angle, reverse circulation holes to test the mineralization exposed in
the trenches. The drilling encountered ore-grade zones.
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
two core holes and an additional eleven RC holes and found similar
intervals of ore-grade mineralization, Plate I in pocket.
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
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
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
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
are generally barren.
This exploration model is based on
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
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
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
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
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
positioned to drill across stratigraphy, and consequently.......
a great deal
of exploration potential remains on the Goldfinger project.
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
for the Phase I drilling, and if this is successful, new roads can be
built for an expanded Phase II program. Phase I should
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.
Drill Map of Goldfinger Project
Photo's of Original