USGD has acquired the fully permitted Madison Copper Gold Project near Silver Star Montana, USA from Madison Metals. The Madison Copper Gold Project is located in the heart of Montana’s prolific copper-gold belt only 38km southeast of the world-renowned Butte Mining District. The Project consists of 136 unpatented and 6 patented claims (2514 acres), accessed via improved dirt roads. The project is currently under an earn-in, joint venture agreement announced by Broadway Gold on April 30, 2019, whereby Kennecott Exploration Company, part of the Rio Tinto Group (ASX, LON: RIO) must spend $30 million USD to earn up to 70% of the project. Click here to listen to the April 14, 2020 2:15PM PST Webinar.
2019 Drill Highlights:
2017 Drill Highlights
Key terms of the Broadway/American Pacific Mining Madison Transaction:
Rio Tinto JV Terms
Other Key Highlights
Broadway Mine Production*
1880-1950
Madison Gold and Copper Shipments**
2008-2013
* Hosted within Madison Project
** Shipments- stockpiling oxide gold, massive sulphide gold and copper mineralization for subsequent mill shipment
***Source: Madison Project report June 2016, Page 1
Drill Highlights
Combined Madison Drill Results
Geology
The project, a high-grade Cadia-like skarn over porphyry system, encompasses 2,514 acres consisting of six patented lode claims and 108 unpatented mineral claims. Recent interpretations identified multiple priority target areas believed to be associated with large-scale porphyry mineralization at depth and located within a well-mineralized, two-mile-long geological, geophysical and geochemical trend. The project is permitted for mining, surface and underground exploration.
The Broadway mine produced 144,000 ounces of gold from 1880-1950. The Madison mine was developed between 2005-2011 and generated 7,570 ounces of gold and 3,020,000 pounds of copper from bulk samples of 19,803 tons (average 0.52 ounce/ton Au and 25% Cu). Approximately 3,000 total feet of underground workings go to a depth of 215 feet underground. Broadway Gold Mining Ltd. refurbished parts of the Madison Mine in 2017, rehabilitating the underground workings in order to access certain stopes and mineralization, allowing for a successful exploration drill program to take place as well. Currently, known skarn mineralization, gold-bearing jasperoid and massive sulphide gold and copper mineralization is proposed to be linked to a deeper porphyry system. Click here for the NI 43-101 report on the Madison Project effective March 4, 2019, prepared by Philip S. Mulholland, C.P.G.