The Fox Spring & LB/Vixen Property
The LB Vixen property is located in Humboldt County, Nevada in the southern Jackson Mountains. It is approximately 150 miles northeast of Reno and 55 miles west of Winnemucca, Nevada and currently consists of 86 unpatented claims.
The property is positioned in close proximity to several significant gold reserves (click links for respective company’s website):
Florida Canyon is about 43 miles southwest of Winnemucca, northeast of the State of Nevada. This open pit mine has produced 3.3 million ounces of gold, of which 2 million ounces has already been recovered.
The Hycroft gold mine is located in the Sulfur Mining district, 54 miles west of Winnemucca in Humboldt County, Nevada. While in production (1987-1998), Hycroft produced over one million ounces of gold.
The Sandman project is an advanced exploration project located approximately 15 miles west of the town of Winnemucca, and is being developed by Newmont.
The Sleeper Gold Project is located about 25 miles from Winnemucca and was acquired by Paramount in 2010. The project area includes the original Sleeper high-grade open pit mine operated by Amax Gold. The mine produced 1.66 million ounces of gold, and 2.3 million ounces of silver from 1986 through to 1996.
The Coeur Rochester Mine is located approximately 25 miles northeast of Lovelock. 2013 production at Rochester is expected to be 4.5 to 4.9 million ounces of silver and 44,000 to 46,000 ounces of gold. Rochester’s proven and probable reserves measured 44.9 million ounces of silver and 308,000 ounces of gold at year-end 2012.
Not shown on the map, but located in the same general area are:
The Turquoise Ridge property operated by Barrick Gold.
The Spring Valley deposit operated by Barrick Gold.
The Standard Mine, an open pit mine, is approximately 6 miles south of the Florida Canyon Mine with about 290,000 ounces of gold reserve.
Geology of LB Vixen
The LB Vixen property is primarily covered by Quaternary alluvium. Where outcrop is exposed, much is sub-crop of weathered and decomposed Triassic/Permian intercalated and interbeded sediments of argillite, siltstone and limestone with zones of silicified/jasperoidal outcrops forming hill tops in the eastern and southern portions of the property.
Pre and post mineral faulting, both observed and interpreted, are evident throughout the property. Faults appear to be relatively high angle normal faults trending northwest and north-northeast. Mineralization appears to coincide with or near fault intersections.
Exploration History of LB Vixen
In 1985, the WX Syndicate staked claims that encompass the area of the current LB portion of the property. Initial activity included soil and rock chip sampling, geologic mapping, and shallow trenching. WX’s trenching revealed clay alteration and favorable limey shale units with some gold values with consistent anomalous gold throughout the length of four trenches. A two-phase drilling program followed trenching. The two-phase program utilized conventional rotary and air track drilling methods.
Seven shallow open-hole rotary holes were completed for 1,080 feet in 1987. The holes targeted gold anomalous zones within fractured and limonite stained Triassic shale and phyllite. Anomalous near-surface gold values were intercepted in four of seven holes. An additional 26 shallow air track holes were completed in a rough grid pattern filling in between the two areas of trenching. In this instance, air track holes were utilized for geochemical sampling of the near surface gold values and were used as a targeting tool for deeper drill tests in the future. Drill logs and assays are available from all sampling and drilling completed by WX Syndicate.
In 1988, U. S. Borax staked ground that is now covered by the Vixen claims. Borax reportedly completed soil and rock chip sampling, geological mapping, and drilled five reverse circulation drill holes for 1,190 feet. The holes reportedly targeted a northwesterly structural zone within similar stratigraphy to that of the LB portion of the claims.
In 1992, Independence Mining Company controlled the LB Vixen ground as part of a larger exploration project in the Jackson Mountains comprising over 1,600 claims. Independence did not conduct work on the LB Vixen property.
In February 2006, Nevada Mine Properties II, Inc. staked 20 unpatented lode claims covering the former WX Syndicate drill area and extensions.
Recent Exploration of LB Vixen
In January 2012, the results of a geochemical rock chip sampling were compiled and posted on a topographical base map. Three areas were recognized for an initial phase of soil sampling to identify potential drill targets.
In March 2012, Phase 1 of soil sampling was completed. The scope of Phase 1 covered approximately 580 acres on the property with a total of 205 soil samples collected. Results from Phase 1 displayed at least three anomalies and added 21 new claims that were staked and filed east and south of the original 61-claim block, bringing the total number of claims on the LB Vixen to 82.
Additionally, four rock outcrop samples were taken during a field trip to the LB Vixen to confirm the results on Phase 1 of soil sampling and conduct prospecting in anomalous areas. The results of the four rock outcrop samples displayed anomalous gold and silver as well as elevated pathfinder elements.
Phase 2 of soil sampling commenced in May of 2012. An additional 166 soil samples were collected for gold pathfinder element analysis.
A total of 50 rock chip samples have been taken on the LB Vixen property. The samples were scattered throughout the property where outcrop could be found. Three areas of mineralization were recognized as a result of the rock chip sampling. These three areas all exhibited characteristics of iron flooding and silicification forming jasperiodal outcrops in the Triasic/Permian sediments.
LB Vixen Property Phase 1 Drilling
Assay results from the four Phase 1 drill holes on the LB Vixen property are extremely encouraging. All four widely spaced holes encountered gold mineralization demonstrating the possible existence of a large bulk tonnage, sediment hosted gold deposit on the LB Vixen property. Further study of the results will help determine the next phase of testing and target selection for Phase 2 drilling in 2013.
Four reverse circulation angle holes totaling 2500 feet were widely spaced along a zone of anomalous gold mineralization intermittently exposed over a length of roughly 9000 feet and width of nearly 2000 feet.
Due to the general lack of outcrop exposure, the first phase of drilling was intended to help determine the overall extent and trend of mineralization. Mineralization was encountered in all 4 holes.
Fox Spring – LB Vixen IP Survey
Def. Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials, such as sulfide mineralization (e.g. pyrite). The method is similar to electrical resistivity tomography, in that an electric current is induced into the subsurface through two electrodes, and voltage is monitored through two other electrodes.
In March 2013, an Induced Polarization (IP) survey was completed on the Fox Spring Project as a follow-up to the 2012 Phase 1 drilling results on the LB Vixen property and additional claim staking on its Fox Spring Project in Humboldt County Nevada.
A Gradient Array IP survey conducted on the Fox Spring Project area by Zonge International has been completed and the initial results have been reviewed and discussed at a meeting with the contractor on March 18, 2013. The survey covered approximately 1200 acres mostly covered by alluvium in the southern half of the Fox Spring Project area where previous drilling demonstrated significant gold mineralization associated with pyrite.
The completed gradient array IP survey shows very strong and distinct anomalous areas that are likely near surface mineralized zones similar to the best drill holes in the 2012 first phase of drilling. The anomalies outlined also correspond well with known mineralized high angle structures projected beneath alluvial cover in the south portion of the project area.
The largest and strongest of the IP anomalies is in the immediate vicinity of hole LBV DH3. The aerial extent of the anomaly is roughly 2000 feet X 1200 feet and is likely within 500 feet of the surface. This IP survey information provides strong targets for the 2013 Phase 2 drilling program of up to 10 RC holes. (figures 1 and 2)