Regional Geologic Context
The Grass Valley Project is located in an inferred deep-seated structural corridor that heads south southwest from Barrick Gold Corp.’s Cortez Property, a series of large Carlin-type gold deposits primarily hosted in deeper lower plate bedrock. Four miles to the west of the Project, windows through the upper plate bedrock have exposed lower plate bedrock that hosts a small Carlin-type gold deposit at the Toiyabe mine. Several of the SSE trending folds exposed in the mountains surrounding the Toiyabe mine project beneath the Grass Valley Project area, where they intersect the major inferred NNE structural zones that project from the Cortez Property. Together, the local and district scale mapping suggest the possibility that the lower plate rocks associated with mineralization at Cortez Property to the north and Toyiabe to the west could also be present at economic depths at the Grass Valley Project.
- 16 km (10 miles) south of Barrick Gold Corp.’s (TSX:ABX) Cortez Property, one of the world’s largest and lowest cost gold mines (proven and probable reserves: >15,000,000 oz Au – includes Pipeline and Cortez).
- 7 km (4 miles) east of the past producing Toiyabe Mine (historic production and indicated resources of approx. 260,000 oz Au).