Gold and silver company Nevada - Infield Minerals
Gold and silver company Nevada - Infield Minerals

M1 PROJECT

DESPERADO

BANDIT

GOLD-SILVER EXPLORATION PROJECT ALONG THE UNDEREXPLORED LONG CANYON TREND



HIGHLIGHTS

  • Targeting breccia-hosted gold-silver mineralization along large-scale fault zone
  • Property positioned within Nevada’s newest mineral district, the “Long Canyon Trend”, south of Nevada Gold Mines’ Long Canyon mine and New Placer Dome’s Kinsley Mountain deposit
  • Widespread mineralization and structural zone extend along ~10 km property length
  • 2021 drilling campaign will test North zone targets with ~2,000 metres of RC drilling


The Mercury One (“M1”) property is a low-sulphidation epithermal gold-silver project located in the Schell Creek Range, White Pine County, Nevada. Gold and silver mineralization at the property is associated with silicified breccia zones along and proximal to regional and local fault structures. On June 30, 2020, Infield entered into a property option agreement with Mercury Exploration Nevada Inc. to acquire 100% interest in the M1 property over a three-year term.



PROPERTY DETAILS

  • Location: 75 km north of Ely in White Pine County, Nevada
  • Access: road accessible; 6 km to highway and power lines
  • Tenure: 250 unpatented lode mining claims (2,090 ha.)
  • Ownership: option to acquire 100% over a three-year term


The property is located approximately 75 km north of the city of Ely in White Pine County, Nevada. It consists of 250 contiguous unpatented lode mining claims (2,090 hectares), which have a length of approximately 10 km from just south of Shellbourne Pass to Spring Gulch to the north. The property is road accessible with nearby infrastructure, including US Highway 93 and 69kV transmission lines six km west of the Property.

Figure 1: M1 property location map


HISTORY

The M1 property was explored for silver in the 1870s once the Pony Express Trail was developed through the Shellbourne Pass. Aside from the silver rush in the 1870s, there is little to no documented systematic exploration on the Property until 1988. Between 1988 and 1991, Freeport Exploration Inc. and Coeur Exploration Inc. explored for shallow Carlin-style disseminated gold deposits, and a combined 32 holes were drilled on the property. Drill holes were terminated at shallow levels, as fault zones and silicified brecciated rocks did not fit their target model.


Historical Drilling Summary

Freeport McMoran Gold Co. (1988-1989):

  • 16 vertical RC holes
  • Hole GC-14: 0.55 g/t Au over 15.2 m, from 7.62 to 22.86 m, including 2.39 g/t Au over 1.5 m (hole ended at 30.5 m)[4]
  • Targeted Carlin-style gold; did not assay for silver

Coeur Exploration Inc. (1991-1992):

  • 6 core and 10 RC holes
  • Hole GC-20: 0.51 g/t Au and 37 g/t Ag over 8.2 m from 5.49 to 13.7 m (hole ended at 24.4 m)[4]
  • 1992 corporate restructuring led to Coeur dropping non-core properties
Figures 2 A & B: Breccia textures exhibited in historical drill core

In the last two decades, structurally hosted gold and silver deposits have been discovered in Eastern Nevada, as is the case with Nevada Gold Mines’ Long Canyon mine and New Placer Dome’s Kinsley Mountain deposit. These deposits show characteristics of Carlin-style, through decarbonatization and extensive development of breccia bodies, and the subsequent continuum towards epithermal gold and silver deposition in silica veins along the same fluid conduits.



MINERALIZATION

At the M1 property, several structurally complex precious metal-bearing prospects have been identified, with the property being cut by numerous large-scale normal faults that have NE-SW and NW-SE orientations. The North Zone contains elevated concentrations of gold and silver in jasperoids that are spatially associated with complex faulting. Mapping, rock and soil sampling in 2018 and 2019 identified a 900 m long brecciated, silicified and iron oxidized lithological contact zone, which led to the discovery of the North Star Prospect. The South Zone contains two prospects: the South Star Prospect and the Barrett Prospect. The South Star Prospect is approximately 160 m long by 120 m wide and contains historical workings, including test pits, trenches and adits. The anomalous gold values are interpreted to be associated with a NE-trending silicified fault structure, proximal to a massive limestone to silty bedded limestone contact. The Barrett Prospect, which is interpreted to be associated with a NE-SW fault zone, is approximately 600 m to the NW of the South Star Prospect and was identified during a 2019 exploration program. The results of 1.4 m of chip sampling across the Barrett Prospect Main area returned a weighted average of 1.51 g/t gold and 79 g/t silver, including 5.13 g/t gold and 184 g/t silver over 0.20 m. The results of 1.5 m of continuous chip sampling across the Barrett Prospect NE area returned a weighted average of 2.69 g/t gold and 79 g/t silver, including 5.62 g/t gold and 177 g/t silver over 0.59 m.[3]


M1 North Zone

  • >1 km long brecciated contact zone
  • Most historical shallow drilling did not target structures

Central Zone

  • Underexplored area along trend with historical mines
  • Rock float sample: 1.6 g/t Au + 1,927 g/t Ag[3]

South Zone

  • Large areas of extensive brecciation, silicification & oxidation
  • Chip sample: 1.5 m @ 2.69 g/t Au + 79 g/t Ag [3]
  • 1,920 m of RC drilling completed across 6 holes in Q2 2021


Figure 2: M1 property scale map

EXPLORATION

2020 Exploration Summary

During the fall of 2020, Infield carried out field reconnaissance and sampling at the M1 property, followed by ground geophysical surveying. A total of 35.5 line-kilometres of Induced Polarization (“IP”) readings over two separate survey grids at the North and South zones were completed.


2021 Drilling Campaign

  • 2021 drilling campaign is fully-funded
  • Approx. 2,000 m of RC drilling is planned to test North zone targets in Q3/Q4
  • Priority targets include coincident geophysical, geological and geochemical anomalies that have never been previously drill tested

Infield’s 2021 drilling campaign at the M1 property in Nevada consists of approximately 4,000 metres of reverse circulation (“RC”) drilling, of which 1,920 metres has been completed in the South zone of the property across six drill holes. The second phase of the M1 drilling campaign is planned for Q3/Q4 and consists of ~2,000 metres of RC drilling in the North zone, located more than six kilometres north of the South zone along the large-scale structural trend. Priority targets include coincident geophysical anomalies (resistivity and chargeability), altered and brecciated rocks mapped at surface, and anomalous gold and silver values interpreted to be associated with silicified fault structures.

The 2021 drilling campaign represents the first drilling on the M1 property since the late ‘80s and early ‘90s when previous operators explored for Carlin-style mineralization. Recent exploration results point toward a model for fault zone breccia-hosted mineralization, providing Infield with a compelling opportunity for high grade gold-silver discovery.

Figure 3: M1 North Zone proposed drill holes

QUALIFIED PERSON

Technical information contained on this website has been reviewed and approved by Richard Dufresne, P.Geo., Vice President Exploration for Infield Minerals Corp. and a Qualified Person as defined by National Instrument 43-101.

The potential quantity and grade of mineralization described herein is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in targets being delineated as a mineral resource.

ENDNOTES

  1. Total pre-production gold endowment at the Long Canyon deposit is a combination of Probable Reserves (16.3 Mt @2.28 g/t Au; 1.2Moz), Measured & Indicated Resources (8.5 Mt @ 3.17 g/t Au;860 koz) and Inferred Resources (13.6 Mt @3.08 g/t Au; 1.34 Moz) from the Newmont 2015 Reserves& Resources table
  2. “Technical Report and Updated Estimate of Mineral Resources for the Kinsley Project” report dated February 21, 2020 (4.95 Mt @ 2.63 g/t gold Indicated Resource; 2.44 Mt @ 1.51 g/t gold Inferred Resource)
  3. Rock samples collected by Mercury Exploration Nevada Inc. (independent of Infield) in 2019 were prepared and analysed at American Assay Laboratories in Sparks, Nevada for fire assays (FA-PB30-ICP) and multi-element geochemical analysis (2AM50), and in 2020 were prepared and analysed by AGAT Laboratories in Mississauga, Ontario (Au: 202-051 fire assay – AAS finish, multi-element: 201-070 4-acid digest – ICP-OEC finish); and rock samples collected by Infield in 2020 were prepared and analysed by American Assay Laboratories in Sparks, Nevada for fire assays (FA-PB30-ICP) and multi-element geochemical analysis (ICP-2A036).
  4. Historical drilling assay results were obtained from a third party. The laboratories, analytical methods and accuracy could not be verified by Infield.

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Gold and silver company Nevada - Infield Minerals