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Exploration History of the Little Butte Property
The first gold discovery in the region was made near the town of Bouse in the La Paz county Arizona. Historical records show 5,000 oz were produced from high grade ore early in the 20th century and it was also worked as an underground copper mine. Most of this production had a recovery grade averaging over 0.4 oz/ton. The Little Butte property then lay idle until the late 1980’s when Homestake Mines (now Barrick Gold) explored the district. Homestake drilled over 50 holes (average depth < 400 ft per hole) over a 4 year period. They found significant gold mineralization at the Little Butte underground mine and open pit. Homestake eventually dropped the project when gold prices weakened, but a lot of their drill data and project information is available for the Company.
Little Butte is a mere 13 miles east of the famous Copperstone mine, the biggest gold discovery in Arizona in recent history. Cyprus Gold profitably open pit mined 500,000 oz of gold between 1987-1983. American Bonanza Gold Corporation is presently exploring the remaining underground resource, which contains a 10.3 g/t oxide gold resource with 313,000 ounces of gold in the Measured and Indicated categories and 256,000 ounces of gold in the Proven and Probable Mineral Reserves category.
AI
