Project Overview
The RM royalty position covers 35 unpatented claims along a westerly facing range front fault zone. The project is located in central Lander County, Nevada about 7 miles southwest of Nevada Gold Mining’s Pipeline deposit. The district has had over 20 million ounces of gold production and currently reports another 20 million ounces of reserves. The royalty is a 1% NSR on production. The property is held by Hecla Mining.
The project covers a jasperoid zone with abundant barite and quartz veining that appears to replace along a low-angle fault un upper plate rocks. Past drilling has encountered values from 0.03 opt gold over 20 feet to 0.06 opt over 50 feet thickness. The RM project has small resource reported from drilling of approximately 70 holes (~19,000 feet). This resource and several targets remain open ended.
Area Potential
Several opportunities currently exist for the RM project: (1) Offset open ended mineralization adjacent to the resource area, (~20,000 ounces in ground): (2) Add to the resource through exploration along strike: (3) Develop additional resources at depth within “feeder faults”.
The RM area is active with Barrick/Nevada Gold Mining exploring along the range front to the north and south. Other companies have taken an active interest in the area recently.