New Property - Goldfield Basin
A relatively new and rapidly being moved into production property is called the Goldfield Basin where the company has conducted sampling and assay analysis work and made gold from the samples gathered. The current permits and production will begin the process of accessing and producing the placer gold at Goldfield Basin. To be clear, 50% of the company assets are co-owned by Brian Collins since 2010. All commercial mining activities conducted in the field and at other sites are contracted out under our supervision which we believe is more cost and management effective.
Permits, professional studies and bonding is in place and the early stages of production commenced in the spring of 2016. The 840 acres claims at Goldfield Basin are within a couple miles of a major mining company’s claims covering an area of 19 square miles. It is also adjacent to 960 acres of claims where 50+ historical information assays from 3 different labs confirmed the mineralization in the area and which the company has also verified with 81 additional assays of our own from our adjacent claims which we own.
The mining and processing of ore at Goldfield Basin is a simple, low cost operation that takes near surface ore from the top 10 to 15 feet, processes and returns and smooths out the screened off material. Hence the mining operation has minimal disturbance at any point in time. Additional nearby claims could be acquired to triple the size of the project to 2,000 acres and create an ownership of claims covering 3.1 square miles which would also be adjacent to 3 linear miles across the bottom of the nearby major mining company’s 19 square miles of claims.
Asset #26 Reveille Claims
Our geologist describes the Reveille district as near the Oro-Nevada rift and at the nexus of several calderas. The mineralization here is similar to other metal deposits found along this regional lineament that are in production such as Round Mountain and Manhattan. These are multi-million ounce, gold and silver deposits. In recent drilling, Gold and Silver mineralization were encountered all the way down in all of the 6 drill holes which were drilled to approximately 600 feet of depth.
Condor Consulting August 2011 Magnetic Report of the Reveille mining district where the company's claims are located in the middle of the study determined that sulfide mineralization is present from near surface to a depth of approximately 1500 feet. The depth to carbonate host rocks is much less along the western corridor where the company has conducted drilling and trenching activities.
Asset #27 Eureka Claims
The Eureka claims are located in the Mountain Boy Range adjacent to the Watterton/Barrick Gold/Ruby Hill operations near Eureka Nevada. Extensive drilling has also been conducted on the adjacent Prospect Mountain range as well as the current production operations of Ruby Hill open pit mining and processing operations.
The company owns stockpiled ore adjacent to its Asset #26 claims in the Reveille Range and near its Asset #27 claims near Eureka, Nevada. The stockpiled ore has been certified as to tonnage and grade by a qualified individual. The following chart reflects the company in-house valuation of the stockpiled ore at today’s prices for silver and gold.