Golden Trail, Elko County, Nevada
The Golden Trail is located about 50 kilometers north of Newmont’s Long Canyon Project (acquired by Newmont in 2016 for $2.3 Billion) and on the northeastern margin of the recently identified Long Canyon Trend in northeastern Nevada. Access is by road off Highway 93, north of Wells, Nevada. Golden Trail is 100% owned, with no royalties outstanding, and is comprised of an 880 acre claim package. Extensive surface exploration has identified Carlin style alteration and many geologic similarities to Long Canyon.
Gold mineralization at Golden Trail is generally centered on approximately 10 square kilometres of thermal metamorphism and hydrothermal/metasomatic alteration. Gold mineralization occurs locally in north-west striking dilational zones containing numerous, high-angle gold-bearing veins and adjacent replacement zones, and centered within calcsilicate skarn. The largest identified vein, the Golden Trail Vein (“GTV”) extends over 1,200 meters in length with an associated alteration zone averaging 30 metres wide. Gold values above 20 ppb are common with several samples assaying above 9 g/t Au and one above 28 g/t Au. Continuous 5 foot trench samples returned 13.7 grams gold with 36.2 grams silver in one 5 foot trench, and 3.49 grams gold with 105 grams silver in a second 5 foot trench. In weathered and oxidized outcrop samples, elevated Ag, As, Sb and Ti values accompany Au in iron-rich zones commonly associated with a carbonite+montmorillonite+white mica assemblage.
Peloton conducted a Hyperspectral airborne survey over and around the Project using visible to near infrared (VNIR) and shortwave infrared (SWIR) spectral range to identify aluminum illite and ammonio-illite alteration which can be associated with Carlin style deposits. The survey identified a north-west trending zone dominated by the hydrothermal alteration minerals medium to high aluminum illite and ammonio-illite. This trend parallels a break in gradient along the southwestern boundary of a strong gravity anomaly underlying the Project (about 8 mGals) and the north-west trending gold mineralization at surface.
An NI 43-101 Technical report published October 31, 2018 recommends that the aluminum illite and ammonio-illite zones be mapped at outcrop scale to identify prospective structural environments that have proven important to exploration at the Long Canyon gold deposit (Smith and others, 2013) and these identified structural environments prospected by IP (Induced Polarization) or CSAMT (Controlled Source Audio-frequency Magneto telluric) geophysics and drilling of defined exploration targets.
Permitting: Golden Trail has a drilling permit in place, issued by the Bureau of Land Management. This permit is valid until January 31, 2020 and application to extend may be made at that time.
Golden Trail was a featured new project at the 2015 Geologic Society of Nevada (GSN) Symposium.