UraStar Energy has signed a letter of intent (LOI) with Mosquito Consolidated Gold Mines to acquire the BlackPoint gold-silver project. This project includes 896 A and is situated in the Battle Mountain-Eureka gold trend and 7 km north of the Eureka town in Nevada.
The Blackpoint’s vicinity has several productive gold deposits with the Ruby Hill gold mine, which is situated to the southwest and to the east of the significant Alligator Ridge Gold Mine.
Location of BlackPoint property
Historically, the property has recorded an indicate production grading 400 g/t to 3,700 g/t of silver from property’s near surface zones and was sent to the Nevada-based mill. The work during 1971 was focused on the surface sampling and numerous short drill holes that are seeing at the continuity of the high-grade silver in the deposits.
The director of the company has commented that UraStar is delighted to have purchased the Blackpoint Project in the world’s main productive gold-silver district. It will start an aggressive drilling program soon to examine the targets and prepare a compliant resource.
The surface geology analysis demonstrates that the project has a silica-sericite epithermal gold-silver system along with high-grade silver veins, silica-sericite alteration, breccia and stockwork and dispersed gold values. This mineralization style is usually identified at the historic and active mines in the region. The property is separated into two different halves through an east west orientated formation with the Dot and Eagle Ridge zones in the south and the Condor zone in the north. All the prior work was done around the silver mineralization but did not search for the system’s gold bearing part, which may be situated towards the middle or at depth of the outer silver zones.
Mosquito’s geological work, which was completed in 2007, has found that the property was not explored well. The occurrence of the huge east-west orientated formation, which offsets the mineralized zone, asymmetrical alteration zones and fall out breccias to the southwest have showed an unexplored southwest plunge to the system. A further comprehensive mapping has authenticated a major increase in the width and intensity of the silicification to the central region. This lead to the failure of the former drilling programs to explore the significant exploration targets below the uncovered silica breccia zone.
UraStar will start an aggressive exploration including comprehensive surface drilling, mapping and sampling to outline and examine these high potential unexplored drill targets that focuses to identify the gold bearing part of the system at depth.