Snow And Gem Prospects Named At Namesake Project
Gold Springs Resource Corp.(TSX:GRC) has generated two new targets, Snow and Gem, on the Utah portion of the Gold Springs project.
Fieldwork continues to define the geologic and structural settings, generating high-grade gold and silver values as the targets are readied for future drilling.
The two targets are located on major structural corridors identified at surface as well as by the company’s recently reported CSAMT geophysical survey.
President and CEO, Matias Herrero, said the CSAMT survey greatly expanded the Snow target extending it over a 2,000m strike length following a major structural corridor similar to that seen at the North and South Jumbo resource areas. The Gem target is located on the large Gold Springs Wash structural corridor, in an area dominantly covered by post-mineral material.
“We are nearing the completion of our target investigations as we continue to demonstrate large, high-quality targets with multi-gram gold values from surface sampling. In particular, the Snow target has been elevated by this recent work when coupled with the new CSAMT survey results,” Mr Herrero said.
“These targets are located in areas of extensive post-mineral cover, but our field crews continue to produce exciting gold values and have identified the controls for the gold mineralisation.”
The Snow target is located 500m west of the Fitch target and consists of several historical slot cuts and one historic mine shaft. Much of the area outside of the historic workings is covered with colluvium and post-mineral volcanic flows. Historic workings focused on the east side of a through-going north-south Snow Fault defined by a deep valley and exposed in the old workings. The Snow Fault is a major structural corridor that extends for 3.5km and is highlighted as an extensive geophysical anomaly in the CSAMT data.
Historic workings expose intensely clay-altered andesite host rock with stockwork quartz veining within fault and fracture zones. Vein and breccia material are also found in dump piles around historic mine sites. Vein zones exposed at surface are found west of the workings and are haloed by strong clay alterations. Upslope of the vein exposures much of the area is covered with colluvium and weakly-altered andesite float.
However, mineralixed float in the form of banded and bladed calcite-quartz veins, hydrothermal breccias and stockwork veining is found mixed in with the colluvium cover. This suggest that the epithermal gold system continues under this thin layer of colluvium cover.
The Gem target is located near the northern extension of the Snow target along the Gold Springs Wash. The Gold Springs Wash is a major structural corridor that trends to the northeast and is a significant controller of mineralisation found at the Juniper target (press release April 15, 2020). T
he Gem target is located at the confluence of the Snow Fault with the Gold Springs Wash Fault. At this intersection, a shallow geophysical anomaly occurs in the CSAMT survey and represents a highly prospective target as both structures are known to host mineralisation.
Numerous historic workings are located on both the north and south sides of the Gold Springs Wash. The workings expose heavily-altered andesite with stockwork quartz veining.
Surface sampling from the limited exposures within this target area produced the following significant results greater than the resource cut-off grade of 0.25 g/t Au
