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GoldTech is a leader in the exploration, testing, development, operation and sale of gold, silver, and copper mines. The company currently holds a significant number of mineral properties, and is constantly seeking out and acquiring new properties for acquisition and development, or for sale or joint venture.


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Copyright 2014

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PHAU SPRINGS MINE

 

PHAU SPRINGS IS AN EXPLORATION LEVEL PROJECT WITH MUCH PROMISE. THE ESTIMATED MINERAL RESOURCE BASED ON HISTORICAL TEST RESULTS IS 500,000 OUNCES OF GOLD

Due to the early stage nature of this project, and the additional exploration work necessary to prove out the mineral resource, the sellers will be flexible on terms of sale.

 

LOCATION:    The Phau Springs Property is located in Yavapai County, Arizona, approximately 30 miles north of  Prescott, Arizona  within the Cherry Creek Mining District.  More specifically, the property is situated in Township 14 North, Range 3 East, and sections 10,11 and 14.  Access to the Mine is generally good by travelling north on the Cherry Creek Road, through the small community of Cherry, and from Cherry via good County roads to the property.  The last one mile of road leading into the Mine area is often washed and rough.

 

GEOLOGY-DESCRIPTION:   The Property is a collection of several very old “hi-grade” gold producers from near-surface quartz vein exposures that are situated within a Precambrian aged intrusive granite and scattered metamorphic schist and gneiss..  The numerous veins and veinlets that were the source of previous production are occupied within a broad shear zone as much as 200’ of true width.  The many veins are seemingly stacked within the shear zone one atop the other, but also within a stockwork pattern of shearing.    Gold values appear to be directly associated with silicification and iron oxide alteration in the upper level zone of oxidation.  Sulfide mineralization has not been encountered but likely will be with depth.  Gold mineralization in the oxide zone is free milling and recoverable by gravity mineral processing technology.  Mineralization within the oxide zone is “simple” and contains both fine and coarse gold fractions.

Near the southern portion of the deposit a large fault is exposed within a 150’ crosscut that exposes the upper thickness of the shear zone.  This fault confirms what is indicated at surface whereby the shear zone deposit is faulted into two segments with the western segment apparently turning southwesterly and rolling in dip.  The southern portion of the deposit appears from surface exposure to be quite large.

 

EXPLORATION COMPLETED:     Aside from early day prospecting and “hi-grade” mining, the Property has been the subject of some modern-day exploration efforts that have included surface trenching by dozer, sampling underground workings where accessible, and limited diamond core drilling.  Reportedly the Harrison Mining Company completed a five-hole drilling program, together with surface trenching by dozer.  The results are considered historical and non-verifiable without due diligence drilling.  Some of the surface work completed has been in part verified by more recent sampling programs.

 

POTENTIAL:    The overall potential of the Phau Springs gold deposit has yet to be determined by a comprehensive drilling program, together with a complete evaluation of all underground and surface workings, and perhaps additional surface trenching.  Nevertheless, the physical exposures and nature of mineralization suggest that a significantly large gold resource is present.  Fortunately much of the deposit is exposed and spatially situated for effective and easy access drilling.  Because the dip of the shear zone is nearly dip-slope, with roads below and above, most all future drilling can be effected from existing roads and from a ridge top access drill road obviously excavated many years prior.

The deposit is as exposed between 100’ and 200’ in average true width and a minimum of  1500’ in length with open-ended strike length extension.  The southern portion within the old workings appears larger and hosts two segments. Based on the surface sampling data and assumed drill hole accuracy, it follows that to a depth of 500’ approximately 7 million tons of gold resource may be present just within the “core” area.  Strike length and down-dip extensions could significantly increase the estimated potential, in addition to the second segment seen within the southern extension. Harrison reportedly indicated a possible geologic reserve of 21 million tons based on a mineable down-dip potential of 1000’.  The available data would make this estimate premature.

It is difficult to place an average ore tenor value on the deposit without additional exploration.  Thus far it would appear that the entire width of the shear zone should average in excess of 0.1 oz/ton in Au.  If Harrison’s drilling results are accurate it would seem possible that lesser tonnages but of much higher tenor are potentially available for a selective mining program.  Recent sampling of strictly the richer quartz vein material found in veins, veinlets, and old dumps, indicates multiple ounce/ton ore was mined around the turn of the Century.  Some of this hi-grade material was processed, showing free milling characteristics.  There are several thousand tons of surface/near-surface free milling ore available for a relatively small “hi-grade” operation in the range of 2 to 5 tons/hr.  This ore will grade between 0.2 and 3.0 oz/ton Au.  It is believed from the data that an average of about 0.4 can be maintained………….perhaps higher.

A technical summary report is being prepared that utilizes all surface trench data, all underground sampling, and assumes that the drilling is accurate.  As such, cross-sections are being completed to estimate a potential ore reserve.   New drilling and trenching will be required to verify old data and provide a solid foundation for defining accurately proven, probable, and possible ore reserves.  The deposit as now indicated represents an excellent target for defining a commercially viable gold ore reserve, and one that is free milling within the zone of oxidation, and easily mineable from surface due to the dip-slope characteristic of the shear zone.