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Maverick Springs, Nevada

  • Maverick Springs Technical Report

Location and History

Maverick Springs is located in northeastern Nevada at the southeast end of the Carlin Trend belt of gold-silver deposits. Access is by gravel road. The property is now held in a joint venture with Allied Nevada Gold Corp. We hold the rights to the silver resource while Allied Nevada holds the rights to the gold resource. A total of 190 holes have been drilled on the property, including 54 holes totaling 15,263 meters on behalf of the joint venture. The silver-gold mineralization occurs as a Carlin-type, sediment/carbonate-hosted disseminated deposit measuring about 2,400 meters in length, with a width of 760 meters and a thickness of approximately 60 meters. Mineralization is open to the south and north-northwest. Maverick Springs hosts a large silver-rich system that may be amenable to low-unit-cost bulk mining, similar to other Carlin-type deposits.

Geology and Metallurgy

The silver-gold mineralization occurs as a Carlin-type, sediment/carbonate-hosted disseminated deposit measuring about 2,400 meters in length, with a width of 760 meters and a thickness of approximately 60 meters. Mineralization is open to the south and north-northwest. Preliminary metallurgical testwork indicates a process using conventional milling will yield 63% to 97% recoveries for silver.

Project Scope and Plans

Further drilling to explore the extent of the higher-grade silver mineralization discovered in 2006 will be undertaken in 2008.

For details on the reserves and resources of Maverick Springs,view the current Resource Summary (312 kb pdf).