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Para Resources Inc.
Summary
| Project: | Gold Road Mine | |
|---|---|---|
| Deposit: | Gold Road Mine | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 4/11/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-4-2018: Para Resources Inc. announces an Exploration/Drilling Update report for its Gold Road Mine deposit at the Gold Road Mine project. Amended technical report summarising exploration and historical mining at the property. The Gold Road Mine (Gold R | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Overall Report]: James R. Guilinger (World Industrial Minerals LLC) | |
| ABSTRACT: | The Gold Road Mine (Gold Road, The Mine) was discovered in 1900 in Mohave County, Arizona. Located 15 miles (24 km) northeast of the Arizona-California-Nevada border, Gold Road exists in Arizona’s greatest primary gold producing district. The San Francisco district has produced over 2,100,000 ounces within the last century. Total historic production from Gold Road is 746,040 ounces with an average grade of 0.315 oz/ton (9.77 g/t) Au. The Gold Road property (The Property) consists of 279.07 acres (112.74 ha) of 18 patented claims, 4 patented millsite claims totaling 20 acres (8.08 ha) and 1,820 acres (735.28 ha) of 91 unpatented claims fully owned or controlled by Para Resources Inc et al. (Company). The Company also has under lease from Cruski Mines an additional 14 patented claims totaling 466 acres (188.26 ha). Total acreage owned or controlled by the Company is 2,603.07 (1,051.64 ha). Following the geologic pattern of the district, the Gold Road deposit is of epithermal origin. Historic gold production has come from a vein system averaging approximately 40 feet in width. Typically the ore grade section of the vein is on or near the footwall of the vein system. Although sometimes found in multiple veins, economic grade is most often found within a single vein. The average true width of an ore grade vein is 4.7 feet (1.43 m). Dipping from 65° – 85°, the structure has been traced on The Property by drifting more than 7,000 feet (2 113.6 m) along strike and 1,000 feet (304.8 m) along dip. The vein system remains open to the east and west as well as at depth. | |
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