Century Gold LLC?s Mindora property is located in the Garfield district in central Mineral County, Nevada. The property consists of 18 unpatented mining claims that surround the one million ton reserve at Mindora that was defined by shallow drilling in the 1980?s.
The Garfield district was originally discovered in 1882. A variety of deposits occur within the district. Gold, silver, lead and tungsten have been produced from quartz veins. Gold, silver, copper, and tungsten have been produced from skarn deposits. The total production from the district is unknown.
The Garfield district is located within the Walker Lane, a north-northwest trending +300 mile long zone of Tertiary right lateral strike slip faulting. Large gold districts are near Mindora, notably the nearby Paradise Peak mine, and the Santa Fe district.
At the Mindora property a section of Triassic and Jurassic sedimentary and volcanic rocks are exposed. The lower to mid Mesozoic rocks are intruded by late Cretaceous quartz monzonite dikes, and small plugs of Tertiary andesite and basalt. West of the property, the Mesozoic sequence is overlaid by Tertiary ash flow tuff and tuffaceous sediments. At Mindora, limestone of the Triassic Luning Formation has been re-crystallized, and extensively altered. The alteration at Mindora resembles the alteration in the Luning Formation in the Santa Fe deposit nine miles away to the northeast.
In the 1980?s a small junior resource company, Eureka Resources conducted exploration at Mindora. Eureka had two goals, to develop a reserve at Mindora, and find additional resources near the deposit. A series of short rotary holes successfully delineated a reserve of one million ounces, with grades of 0.037 opt gold, and 1.78 opt silver. The deposit is still open along strike to the west-southwest, and at depth. The reserve is essentially at the surface. A mine plan was developed by Eureka Resources, but a declining gold price in the 1990?s prevented the project from going into production.
Eureka Resources was restructured in 1998. The claims on Mindora property was subsequently allowed to lapse. In 2002, Nevada Sunrise LLC located 12 claims on the reserve at Mindora. The Nevada Sunrise claims left open the areas needed for infra-structure in the Eureka Resources mine plan, and the open projections of the Mindora deposit. Century Gold LLC located 18 claims to cover these extensions in early 2003.
The size of the system is comparable to other systems that host large sedimentary rock hosted gold deposits. Mindora represents an under tested target with the potential to host multi-million ounce deposits.