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Western Troy Capital Resources Inc.
Summary
| Project: | MEMC Property | |
|---|---|---|
| Deposit: | MEMC Property | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 12/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-12-2017: Western Troy Capital Resources Inc. announces a Supporting Acquisition report for its MEMC Property deposit at the MEMC Property project. Summary of property in support of acquisition. The MEMC Property (‘Property’) consists of two patented Mi | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David A. Bending (Independent) | |
| ABSTRACT: | The MEMC Property (‘Property’) consists of two patented Mining Claim Parcels (The Glacier Fee land, 120 acres) and 54 unpatented placer claims (total 3,120 acres) current in taxes and fees and in good standing as of September 2017. The properties are located in the southern part of Lake County, Clear Lakes District, 10 to 18 km south of Leadville, Colorado. The land is held 100% by Mount Elbert Mining Co. LLC (“MEMC”) as a result of various fee land purchase agreements completed prior to 1989 and progressive claim staking until 2014 to form the present land configuration. This Property covers an area of Tertiary till and clastic sedimentary units which are not lithified, is overlain by Quaternary till and alluvial materials and is underlain in turn by Precambrian Basement Rocks in the Mount Elbert Uplift. The work in this report concentrated on the Jewel and Zorro Claims and the Glacier Patented Mining Lands, which are underlain by Tertiary Lilly Pond Till and the lower Tertiary Dry Union Formation. The Dry Union Formation is an upper Tertiary unit consisting of silts and clay, sandy and cobbly beds and lenses and localized debris flows which were deposited between glacial events during a period of active rifting and basin accumulation along the north/south trending axis of the Sawatch uplifts. Gold has been recovered since 1910 in these environments from the Quaternary alluvials down to the upper 50 feet of the Dry Union Formation (Parker (1974) and the Author’s observations (2015 and 2017). Historical reports and the drilling results from the adjoining Box Creek Dam project area clearly indicate that the highest gold concentrations lie within five feet of the Precambrian basement. The Precambrian Basement is also an important exploration target environment, as part of the Colorado Mineral Belt, the source of the mineralized till lobes, and abundant altered angular coarse clasts in the till and interglacial units. This important interface is present but has never been tested within the MEMC lands or any of the adjoining properties. The highest grades documented in the reports available to the author are from the Lilly Pond Tills (Lewicki 2006, 2013 and 2017). | |
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