4 minute read - Published 09:00 AM EST, Wednesday July 24, 2024
This article was authored by witan nook. for Austin Gold Corp.
Austin Gold Corp. is advancing three key gold projects. The Lone Mountain project, near Elko, Nevada, spans 22.2 square miles and aims to assess Carlin-type mineralization and is leveraging extensive historical data. The Stockade Mountain project in Oregon covers 6,790 acres and features a significant low-sulfidation hydrothermal system with promising high-grade gold intercepts, indicating the potential for underground mining. The Kelly Creek project in Nevada covers 8.26 square miles in the Battle Mountain-Eureka Gold Trend, showing potential for sedimentary rock-hosted gold deposits. Together, these three projects comprise Austin Gold Corp.’s value proposition and both the Lone Mountain and Stockade Mountain projects are being advanced in real-time.
Geologists Dr. Steven Weiss (left) and Bob Thomas (right) at the Lone Mountain gold project | Austin Gold Corp.
First off, Austin Gold Corp.’s Lone Mountain project, which is strategically located 25 miles northwest of Elko, Nevada, is situated in a premier gold mining region near the Carlin Trend and Jerritt Canyon deposits. The project benefits from excellent access via sealed and gravel roads from Elko, a major mining hub with robust infrastructure. Encompassing 22.2 square miles with 802 unpatented lode mining claims, the site exhibits a complex geological framework conducive to significant Carlin-type mineralization. Historical exploration by major companies such as Newmont and Kennecott (now owned by Rio Tinto) has laid a strong foundation of geological data. Austin Gold's ambitious exploration plans include extensive mapping, sampling, and drilling to unlock the property's full potential.
Diamond core drilling at the Stockade Mountain gold project | Austin Gold Corp.
Secondly, Austin Gold Corp.’s Stockade Mountain project, located in Malheur County, Oregon, showcases significant potential for high-grade gold and silver mineralization. Located 50 miles southeast of Burns and 90 miles southwest of Boise, the site offers accessible exploration routes via paved highways and gravel roads. Covering 6,790 acres with a 50-year mineral lease, the project benefits from historical data indicating promising shallow-depth deposits. Recent diamond drilling, which was undertaken by Austin Gold Corp. as part of an exploratory drilling program, has confirmed significant gold grades, with plans for further exploration targeting high-grade vein systems. Past exploration activities include assays of over 1000 rock samples, approximately 1000 soil samples, a ground and airborne geophysical survey, a largely completed 43-101 Technical Report, and information for 40 RC drill holes completed by Phelps Dodge (now owned by Freeport - McMoRan), BHP-Utah, Placer Dome (now owned by Barrick Gold), and Carlin Gold. The nearby rural community and proximity to Boise provide essential resources and infrastructure, enhancing the project's development prospects.
Reverse circulation drilling at the Kelly Creek gold project | Austin Gold Corp.
Last but not least, Austin Gold Corp., through its subsidiary Austin American Corporation, has secured an Exploration and Option to Enter a Joint Venture Agreement for up to a 70% interest in the Kelly Creek Project in southeastern Humboldt County, Nevada. Spanning 8.26 square miles, this project benefits from proximity to essential infrastructure in Battle Mountain and Winnemucca. Situated in the Battle Mountain-Eureka Gold Trend, known for significant gold deposits, the project shows promising geological conditions and anomalous gold values in groundwater and bedrock. Leveraging historical exploration data and geophysical surveys, Austin Gold Corp.’s extensive exploration program included drilling, sampling, and environmental assessments. Within the areas controlled by Pediment Gold LLC, a wholly owned subsidiary of Nevada Exploration Inc. (Now URZ3 Energy Corp.), at which Austin Gold Corp.’s VP Business Development Darcy Higgs is a Director, past exploratory activities include: Santa Fe Pacific completing wide-spaced bedrock mapping drilling in the 1990s; BHP completing an extensive soil auger geochemistry program through the late 1990s; and Placer Dome completing a reconnaissance-scale reverse circulation program in the early 2000s. Austin Gold completed four exploration drill holes in August 2022. All holes intersected rocks that may host gold mineralization similar to the deposits at the nearby Marigold and Lone Tree mines. The support of nearby communities ensures access to a skilled workforce and necessary logistical resources, positioning Kelly Creek as a promising prospect in Nevada's mining landscape.
In total, Austin Gold Corp.’s three projects all show potential with existing infrastructure, historical exploration, and advancement planned for the future. With a team of experienced professionals who each have their own track records of success, it looks like Austin Gold Corp’s future exploration projects and financing initiatives are in good hands.
This article was authored by witan nook. and paid for by Austin Gold Corp. in Canadian dollars
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