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OUR CREEK GOLD PROJECT
Fairbanks Mining District
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Owner is retiring and is selling this property outright. This can also be purchased with 2 other Fairbanks Alaska gold properties as a group. Click here to for info on the group.
For sale or lease or joint venture sale price is $350,000 US.
The Our Creek Project is located about midway between the True North Mine and Ester Dome (Ryan Lode and Grant Mine) in the historic Fairbanks Mining District. Goldstone Resources L.L.C. has developed a number of gold exploration targets on their 6,000 acre Alaska state claim block in a relatively unexplored region about 6 miles west of the Elliot Hwy. A maintained, all-weather road and electrical transmission lines cross the property.
Please note they presently have several targets proposed for drill evaluation. Additionally I would like to point out this property is uniquely situated in several additional aspects:
1) If economically recoverable ore is discovered, the Ft. Knox mine operated by Kinross Gold Corp. would be a prime market for the ore. The Kinross mill processes 40,000 ton per day year round. This equates to approximately 14,600,000 tons per year. Kinross has historically acquired additional properties such as True North. Kinross spent millions of dollars to build and operate an off-highway road to haul hundreds of thousands of tons of ore to the Kinross mill operation. Kinross has found that blending ores such as from the True North deposit has improved the grade and profitability from milling operations. At present they are searching for additional deposits.
2) Kinross recently acquired mining rights to ground that have common boundaries with this property and on extension of the same geological unit we have explored on this property.
3) Goldstone Resources L.L.C. ore could be processed directly on the property if not sold to Kinross or others.
4) The Goldstone Resources L.L.C. property has year round public road access. A two- mile haul road extension would connect True North directly to the route serving this property.
5) The main power line for the Ft. Knox Mine runs along the southern property boundary and power lines of the local power company cut the southwest of the property.
6) The location of this property is not remote as is the case with many Alaskan prospects. This is a significant advantage, which greatly simplifies permitting for access, camp and overall operations.
GEOLOGY: The claim block is underlain by Fairbanks quartz-mica schist and quartzite, which form a prominent east-west ridge. The Fairbanks schist, in turn, overlies a complex unit of chloritic and carbonaceous schist, marble, amphibolite, muscovite schist and meta-greenstone. Sub-parallel, 92 m.a., fine-grained to quartz porphyry felsic sills intrude the schist and dip gently to the southeast. Gold values are generally associated with the intrusive sills with higher gold values in quartz veining and alteration zones within the schist in proximity of, and locally within, the felsic sills.
EXPLORATION: Near the head of Any Creek, a 3000-ft long As-Au soil anomaly is closely defined by magnetic low susceptibility, seen in both the airborne survey and reconfirmed by ground profiles. A felsic sill that outcrops 2000 ft to the north can be projected to underlie the superimposed anomalies. Trench exploration of the Line 18 area (short trenches spaced 50 ft apart) excavated frozen quartz-rich clay, chloritic and carbonaceous schist. Follow-up drilling is recommended.
Drilling targets also are located in the Northridge area in the northeast of the claim block, where soil As-Au anomalies suggest mineralization in schist units overlying several felsic sills.
Along the north margin of the project, the Pingo prospect includes evidence of old drift mining. Gold values are found in soil and altered felsic rock and silicified schist in alluvium.
Select trench assays, Line 18 transect:
Sta 7200 0.15 opt Au blk carb sch w/qtz vn
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Sta 7250 0.025 opt Au qtz mica sch
Sta 7300 0.04 opt Au silic blk carb sch
Sta 7300 0.21 opt Au colluvium w/qtz vng
Sta 7350 0.029 opt Au frozen quartz, clay
Sta 7550 0.025 opt Au fault gouge, clay
GEOLOGIC MODEL: Exploration has focused on a model whereby a stacked sequence of sub-parallel felsic sills intrude silicious and carbonaceous schists with sufficient gold mineralization associated with alteration zones to constitute a bulk mineable deposit.
For sale $350,000 US. Annual reports and technical data are available upon request.
DAVID HOPKINS, President
Goldstone Resources L.L.C.
5617 236th Ave. N.E. Redmond, WA 98053 Phone: 425-753-7140