Chief-Bully Projects, Nevada
The Chief-Bully Project comprises 42 unpatented mining claims covering a total of ~830 acres. The property covers an area of alteration along the ridge top of Bullion Mountain and within the adjacent foothills to the west. The project is along strike of Pipeline about six miles northwest. A small low-grade resource is drill indicated on the Chief claims and mineralization up to 20 feet grading 0.2 oz/ton has been encountered in drill holes along the ridge line to the northeast on the Bully Claims. All mineralization tested to date is hosted in upper plate siliciclastic rocks ranging from Ordovician to Devonian in age.
The project covers known gold mineralization hosted within a series of thrusts and high angle faults. Alteration and mineralization are evident as replacements of fault zones with chalcedonic silica. In one area two breccia pipes are evident with surface dimensions of 300 by 700 feet. Surface gold values to 0.34 oz/ton have been obtained from silicified faults over three feet in width along the ridge. These gold showings are oriented along easterly trending corridors. Previous drilling of over 40 holes encountered from 20 feet grading 0.20 oz/ton to 90 feet grading 0.018 oz/ton gold.
Historic exploration includes shallow pits, short adits and a shaft. Modern exploration work began in the 1980’s when Placer Amex drilled seven holes on the Chief claims. Asarco drilled the ridge area of Bullion Mountain in the late 1980’s. Additional drilling by Pallum Resources was conducted within the boundaries of the Chief claims. This work also identified mineralization within the corridor of claims between the Chief and Ridge mineralized areas.
The claim group lies within the checkerboard lands of the Railroad (now Newmont) and are partially surrounded by competitor claim groups. MinQuest believes it holds key land positions with significant gold intercepts that will require our participation for any future development of mineralization in this corridor. The company believes that the Chief claims contain approximately 8 million tons grading 0.015 opt gold. This resource remains open along strike and to depth. The Ridge target may be similar to the Hill Top deposit with high grade gold values in hydrothermal breccias formed in upper plate rocks. Mineralization identified in the valley between the two targets may correlate with a structural zone hosting the Pipeline deposit to the south.
The Project is leased to MinQuest Ltd. The project is available for lease or option under favorable terms. All data is available from MQL under terms of a confidentiality agreement.