found another company to the south - sound like sililar kind of property
ADELAIDE PROJECT
ADVANCED PROJECTS: NEVADA
Property Overview
The Adelaide project is located in southeastern Humboldt County, Nevada, about 18 miles (29 km) southeast of Winnemucca, NV. The property is accessed from Interstate 80 via 10 miles (16.1 km) of improved dirt road maintained regularly by the county, then via 2 miles (1.24 km) of unmaintained dirt road. The Company controls over 3,700 acres (1,500 ha) covering 3.6 miles (5.8 km) of strike along the mineralized Adelaide structure. The project consists of 185 unpatented claims, of which 165 are leased.
The Adelaide property is optioned in conjunction with the Tuscarora Project under an agreement with Atna Resources Corp. (formerly Canyon Resources Corporation). The Company assumed the position of Atna in an underlying agreement with Newmont Mining Corporation to earn-in to 100% ownership of the property subject to a 3% NSR to Newmont in addition to various other NSR's associated with underlying lease agreements. Newmont retains a one-time option on either project to enter into a joint venture whereby Newmont would hold a 51% and the Company a 49% interest.
here is some highlight
Mineralization and Geology
The property is located at the projected intersection of the Getchell and Battle Mountain-Eureka gold trends. The Adelaide property contains an epithermal vein style gold-silver system. The property is underlain by Paleozoic sedimentary rocks that have been weakly metamorphosed and strongly tectonized, and intruded by Mesozoic and Cenozoic stocks and dikes. Siliclastic and calcareous rocks of the Cambrian Preble and Ordovician Valmy Formations host epithermal veins and stockworks along the Adelaide fault zone, which has significant offset, and brings the two lithologic units into contact. Gold and silver bearing epithermal quartz veins and stockworks in silicified and brecciated host rocks comprise the main ore types in the Crown, Recovery, and Margarite mining areas, and represent the target types sought by the Company. The mineralization at the current level of surface mining indicate a relatively high level in the epithermal system, suggesting potential for increasing gold grades with depth as demonstrated in the Company's drilling (see table below).
The results continue to demonstrate continuity of high gold grades in the bonanza vein-style system, while expanding the tonnage potential for the zone. Specifically hole GPA-042 and GPA-035 infill an important 91 m (300 ft) gap in drilling in the middle segment of the vein zone. The program included 10 RC holes into the Margarite vein structural zone, demonstrating continuity of higher grades with depth and along strike of previous intercepts.
