• Silver Price US$24.83
  • Gold Price US$1,911.82
  • CSE: USGD  $0.21
Subscribe
  • Tuscarora Gold Project

Tuscarora

    Overview

    The Tuscarora Gold Project, 50km northwest of Elko, is a high-level, low-sulfidation, epithermal gold prospect in the historic Tuscarora Mining District of Nevada, USA. The Company has entered into an earn-in and option to form a joint venture agreement with Elko Sun Mining Corp, whereby Elko Sun may earn a 51% interest in the Tuscarora Gold Project. The key terms of the agreement are as follows:

    Key Points of the Agreement

    • Elko Sun can earn a 51% interest in the Tuscarora Gold Project by making certain cash payment to or on behalf of the Company in the aggregate amount of $200,000, making certain share payments to the Company, and funding exploration expenditures of $1.35 million towards the Tuscarora Gold Project over the next two years (Phase 1).
    • Subject to the Elko Sun’s completion of Phase 1, the company will have four years from the date of the Earn-In Agreement to exercise an option to earn an additional 14% interest by making certain additional share payments to American Pacific and funding further exploration expenditures of $3 million towards the Tuscarora Gold Project (Phase 2).
    • Subject to its completion of Phase 2, Elko Sun may exercise an option to earn a final 15% interest (for total interest of 80%) by completing a pre-feasibility study on the Tuscarora Gold Project before the end of the Option Period (Phase 3).
    • Elko Sun will make an initial $50,000 non-refundable cash payment (as part of the aggregate $200,000 cash payments under Phase 1) to American Pacific within the first four months of the Option Period.
    • Elko Sun will also make all payments to holders of underlying property interests and pay claim fees.
    • Elko Sun will be the operator of the Tuscarora Gold Project and, upon earning-in an interest, a joint venture management committee will be formed.

    The property consists of 91 claims covering approximately 1,818 acres within the Tuscarora Mining District in Elko County, Nevada. The Tuscarora District lies at the foot of Mount Blitzen on the eastern slope of the Northern Tuscarora Range.

    Historic drilling intersected over 368 g/t gold in quartz-adularia veins at relatively shallow depths at Tuscarora. American Pacific optioned the property from Novo Resources, and completed Phase 1 of an initial drill campaign to follow up on previous high grade drill results. Following this, Phase 2 included 6 rc holes and 1 core. These holes were drilled on either side of the South Navajo zone, hitting upon a significant 1.5m @ 3.47 g/t Au interval 1260 feet deep, deeper than any other intercepts thus far. (Webinar Link to Results Jan 13, 2020).

    Tuscarora has had extensive reverse circulation drilling in the past. Since the 1980’s, the gold-dominant, high-grade vein portion of the district has emerged with two distinct zones, the South Navajo Vein Zone and the East Pediment Zone. Drilling has intersected high gold grades in quartz-adularia veins at relatively shallow depths.

    American Pacific phase 1 drilling concentrated on the South Navajo Vein zone, with highlights below:

    Tuscarora APM Drill Highlights

    HoleID

    From (m)

    To (m)

    Length (m) *

    Au (g/t) **

    APTU18-015

    201.17

    202.69

    1.52

    18.40

    APTU18-009

    198.12

    201.17

    3.05

    16.06

    Including

    198.12

    199.64

    1.52

    27.20

    APTU18-016

    195.07

    198.12

    3.05

    13.42

    APTU18-013

    137.16

    138.68

    1.52

    10.30

    APTU18-015

    173.74

    175.26

    1.52

    7.77

    APTU18-001

    159.93

    161.06

    1.13

    6.27

    APTU18-016

    202.69

    204.22

    1.53

    5.52

    APTU18-016

    155.45

    156.97

    1.52

    5.49

    APTU18-005

    68.79

    69.34

    0.55

    4.05

    APTU18-015

    181.36

    182.88

    1.52

    3.15

     Tuscarora Phase 2 Drill Highlights

    HOLE ID

    From

    (m)

    To

    (m)

    Interval

    (m)

    Au (FNL)

    g/t

    Ag (ICP)

    g/t

    TUS-003

    384.05

    385.57

    1.52

    3.47

    5.3

    TUS-003

    365.76

    367.28

    1.52

    2.17

    0.8

    TUS-003

    379.48

    381.00

    1.52

    2.08

    7.5

    TUS-003

    199.64

    201.17

    1.52

    1.24

    0.3

    TUS-003

    367.28

    368.81

    1.52

    1.21

    0.8

    TUS-009

    85.34

    86.87

    1.52

    1.18

    1.0

    TUS-001C

    359.26

    360.27

    0.91

    1.12

    18.1

     

     


    Tuscarora targets outlined by 2019 Geophysical Program

     

     

     

     

     

     

     

     

     

     

     

     




    Plan view of Phase 2 2019 Drilling


    Cross Section - 2019 RC Drill Hole-003
    Novo (16TSRC series) and Newcrest (TN/TNC series) Tuscarora Highlights, including East Pediment

     

    HoleID

    From (m)

    To (m)

    Length (m) *

    Au (g/t) **

    Ag (g/t) **

    Zone

    TN-38

    150.88

    155.45

    4.57

    127.08

    6.53

    SN

    Including

    152.4

    153.92

    1.52

    368.31

    3.60

    SN

    TN-54

    210.31

    211.84

    1.53

    51.06

    102.90

    SN

    TNC-02

    50.29

    51.82

    1.53

    27.61

    11.20

    SN

    TN-52

    150.88

    152.4

    1.52

    13.55

    5.40

    SN

    TN-19

    170.69

    172.21

    1.52

    13.00

    1.00

    SN

    16TSRC-006

    153.92

    155.45

    1.53

    11.48

    11.90

    SN

    TN-24

    108.2

    109.73

    1.53

    9.33

    1.00

    SN

    16TSRC-002

    158.5

    161.54

    3.04

    9.13

    9.07

    SN

    Including

    158.5

    160.02

    1.52

    13.86

    50.00

    SN

    TN-38

    211.84

    213.36

    1.52

    8.75

    0.10

    SN

    FTC-02

    174.35

    174.65

    0.3

    8.57

    16.11

    SN

    16TSRC-010

    85.34

    88.39

    3.05

    7.78

    6.07

    SN

    TN-24

    137.16

    138.68

    1.52

    7.20

    3.60

    SN

    TN-19

    134.11

    135.64

    1.53

    7.00

    0.40

    SN

    16TSRC-001

    167.64

    169.16

    1.52

    6.91

    6.89

    SN

    TN-36

    179.83

    182.88

    3.05

    6.15

    1.88

    SN

    TNC-03

    173.74

    175.26

    1.52

    5.32

    1.90

    SN

    TN-40

    179.83

    181.36

    1.53

    5.30

    2.70

    SN

    16TSRC-004

    62.48

    64.01

    1.53

    5.00

    5.07

    SN

    TN-22

    51.82

    53.34

    1.52

    4.62

    0.80

    SN

    16TSRC-002

    190.5

    192.02

    1.52

    4.54

    4.93

    SN

    TN-41

    204.22

    205.74

    1.52

    4.06

    0.80

    SN

    TN-57

    79.25

    80.77

    1.52

    52.37

    366.90

    EP

    TN-63

    117.35

    118.87

    1.52

    4.14

    0.60

    EP

    * Length (m) represents sampling length downhole. True width of the intersection is currently unknown but assumed to be less than the reported length.
    ** Reported grades assume 100-per-cent metallurgical recovery.
    *** Intervals were selected and composited based on 4 g/t Au cut-off value.

    Tuscarora was originally optioned from Novo Resources (NVO-TSX-V) in 2017. To order 100% ownership, American Pacific was required to make a cash payment of CAD $375,000, plus American Pacific stock equivalent to CAD $200,000 and make CAD $100,000 per year of expenditures on the property.

    American Pacific may exercise the option at any time after completing the cash and share payments. Following that the USGD obligations will be:

    1. Pay a Royalty Interest to Novo Resources of one-half percent (0.5%) of Net Smelter Returns which may be reduced to nil (0%)) by paying USD $500,000.
    2. Pay a Royalty Interest to Nevada Select Royalty, Inc. based on the New York COMEX price of gold per troy ounce, payable as follows:

    Less than or equal to $1,500.00

    Two percent (2.0%)

    Greater than $1,500.00 but less than or equal to $2,000.00

    Three percent (3%)

    Greater than $2,000.00

    Four percent (4.0%)

    Advance minimum royalty payments due on the third through fifth anniversaries of $4,000; sixth through tenth anniversaries of $8,000; eleventh and succeeding anniversaries of $12,000.

    History

    The Tuscarora Mining District is within a major gold producing region of Nevada. Placer gold was discovered in the district in 1867 and production of silver-gold lode deposits began in 1875 (LaPointe, et al., 1991). Total precious metal production between 1867 and 1990 consists of >500,000 ounces of gold and 7,632,000 ounces of silver from quartz veins and quartz stockwork mineralization.

    Since 1982, the Tuscarora District has had a sustained, exploration effort. This effort has been almost continuous, with each subsequent operator building on the previous work. Ultimately, this work led to the area covered by the Tuscarora Project.

    The Tuscarora Project lies south and east of the Dexter historic open-pit. Newcrest drilled this area and noted numerous significant gold values for the South Navajo Vein and East Pediment areas. With up to 5 feet, grading 182 g/t Au in drill hole TN38, in the South Navajo Vein area. Their assay values indicated narrow and somewhat discontinuous shoots of high-grade gold. Newcrest also described coarse visible gold that created a metallurgical nugget effect.

    To view a PDF of the Work History by year at Tuscarora, please click here. .

    Mineralization

    The Tuscarora District clearly displays gold and silver in low sulfidation epithermal quartz-adularia veins and stockwork veins associated with dacitic intrusives and structures formed along the southeast margin of Mount Blitzen. The northern silver-rich portion of the precious metals district occurs immediately north of the Project. The silver-rich area has high Ag:Au ratios (>100), strong base metals, and typically displays narrow alteration selvages around quartz-carbonate veins hosted mostly in intrusive dacite. In contrast the southern gold rich portion of the district, including the Tuscarora Project, have relatively low Ag:Au ratios (<15), contains almost no base metals, underwent local boiling, and displays widespread silicification and adularization along with quartz-adularia veins, stockwork veining, and vug-fills in tuffs and fine-grained epiclastic rocks.

    The work completed and data available are insufficient to determine the length, width, depth, or continuity of the mineralization at Tuscarora. The historic work is not of sufficient density and veracity to determine a quantifiable mineral resource or reserve.

    Click here for the NI 43-101 report on Tuscarora effective January 15, 2018, E.L. “Buster” Hunsaker III, CPG 8137.

    Geology

    Click here to read the Geology of the Tuscarora Quadrangle Report by Christopher D. Henry.

    The Great Basin in Nevada is a westward thickening wedge of carbonate and siliciclastic rocks deposited along a craton margin over hundreds of millions of years. The regional structural setting is simply portrayed as older Paleozoic and Mesozoic rocks above younger Paleozoic and Mesozoic rocks. Multiple global scale tectonic events pushed eastward, developing low-angle thrust faults that juxtaposed siliciclastic and carbonate rocks. In the late Mesozoic and early Cenozoic, extensional tectonic events led to multiple volcanic and intrusive events that continue into modern times. In this region of the Great Basin, three lithologic domains developed during the Cambrian to Late Devonian. Shallow, platform carbonates and shelf-slope carbonates formed the earliest domain as a westward-thickening wedge along the passive margin edge of the North American craton. A second domain formed in the Ordovician from deep-water ocean basin siliciclastic, volcanic, and volcaniclastic rocks to the west. The third domain is the result of the Antler highland emerging along the leading edge of the Roberts Mountain Thrust with subsequent erosion and deposition of the sediments along the eastern margin of the highland and into the foreland basin. In the early Tertiary, a period of extensive silicic volcanism occurred throughout a large portion of southwestern North America.

    The Tuscarora volcanic field developed during this period and is one of the largest examples of Eocene age magmatism in Nevada. The most intense magmatism occurred to the southeast in an area that encompasses at least five major volcanic centers including the Mount Blitzen volcanic center.

    Qualified Person
    Technical aspects of this website have been reviewed and approved by the designated Qualified Person (QP) under National Instrument 43-101, Eric Saderholm, P.Geo.

    Maps


© 2020 American Pacific Mining Corp.
All rights reserved.