Growth through Acquisition,
Exploration and Development
Exploration and Development
| Location: | Geologix Exploration's Silver Cloud gold-silver property is located in northern Nevada within the Northern Nevada Rift near the juncture with the Carlin Trend and adjacent to the Hollister low-sulfidation, bonanza epithermal gold deposit of Great Basin Gold. It is also located south, along trend, of the Midas mine (Newmont). |
| Communities: | Lands at Silver Cloud are uninhabited and only used for seasonal grazing. There was historic mercury production from a few areas on the Silver Cloud Property. |
| Infrastructure: | Good quality gravel and dirt roads provide access to Silver Cloud north from Battle Mountain or south from Midas. Local dirt roads allow vehicle travel around most of the property. |
| Properties: | The Silver Cloud property is comprised of 552 unpatented mining claims (11,210 acres) located over lands |
| Ownership: | Pursuant to the terms of a Property Purchase Agreement with Teck CO, LLC, Geologix holds a 100% interest in the Silver Cloud Property, subject to existing third party NSR royalties. |
| Royalties: | Production from Silver Cloud is subject to NSR royalties due to Royal Gold, Inc. of 2% (capped) and the underlying claim owner of 3%. |
Introduction
Silver Cloud covers a very large hydrothermal alteration zone in volcanic rocks that also hosts Great Basin Gold's Hollister (Ivanhoe) low-sulfidation, bonanza vein deposit (819,000 tonnes @ 35.3 g/t gold and 195 g/t silver, proven and probable) 8 km to the northeast. Silver Cloud lies 20 km southeast of Newmont Mining's Midas deposit, also a volcanic-hosted low-sulfidation, bonanza vein system that contains 4 million ounces of gold and 45 million ounces of silver. High-grade veins in these areas have been discovered beneath gold, silver and selenium anomalies.
Details of the Silver Cloud Property
Previous exploration on the Silver Cloud Property by Teck and Placer Dome has proven the existence of low-sulfidation, bonanza-grade vein occurrences beneath the mercury-bearing hot spring silica deposits. Results include drill intercepts of 1.5 metres of 157 g/t gold at a depth of 318 metres and 12.2 metres of 5.53 g/t gold at a depth of 208 metres found in widely separate target areas. Two core holes drilled by Geologix in other areas encountered highly anomalous gold and silver and trace elements in sulfide-rich breccias and low-temperature banded quartz veins. Less than 10% of the large Silver Cloud property has been explored.
Maps & Figures
None available
Technical Reports
There are no Technical Reports on this Project at this Time.
Drill Results
