Location: Nye Co., T5N, R42E, San Antone Mining District
Geology/Description: Nevada Select Royalty has recently acquired the Liberty Springs property located south of the Hall mine and 8 miles north of Tonopah, Nevada. The Liberty Springs project encompasses over 2,000 acres of intensely altered and mineralized rocks including metasediments and Tertiary igneous rocks cut by a number of well developed epithermal veins.
The project area is characterized by complex geology with numerous high angle structures (NW,NE, EW) and abundant rhyolitic intrusives cutting basement metasediments and metavolcanics. The veins cutting the Liberty Springs project are classic high level epithermal quartz-carbonate veins measuring up to several tens of feet in width. These discrete veins often occupy vein zones of over 100 feet in width wherein the discrete veinsmake up well over 50% of thetotal zone volume. Stockworks of chalcedonic veining cutting silicified rhyolites occur locally. The veins, as exposed on the surface, exhibit classic high level textures including moss chalcedony, angel wing quartz after calcite, and banded chalcedony. Breccias with quartz cemented vein fragments are evident as well. The discrete veins and more significant vein zones occur primarily within a north-northwest trending zone measuring 2 miles along strike and about ½ mile in width. Individual structures can be traced for at least 1500 feet along strike. It is likely that detailed structural analysis and mapping would prove the continuity along strike for several thousand feet along the principal vein zones. All veins sampled to date are anomalous in gold.
Pegasus drilled 19 widespread shallow reverse circulation holes across the property. Total drill footage was only 5,147 feet as most holes were less than 300 feet deep. Only 5 holes returned no significant gold with 14 of the holes returning favorable values.