Star Gold Corp - SRGZ.OB
3/10/2010
Last Trade: 0.35
Trade Time: 2:43pm
Change: -0.04
Open: 0.34
Day's Range: 0.34 - 0.35
Volume: 8500
(Data delayed up to 20 minutes.)
The Excalibur Property, located about 20 miles southwest of Mina, Nevada, is embedded within the prolific Walker Lane belt, on the steep westerly facing slope of Moho Mountain. This area has already shown production from nearby fields, such as the Borealis and Goldfield districts. The land position currently consists of fifty (50) unpatented mining claims (approximately 1000 acres). Alteration consists of sheared and iron-stained shale and sandstone of the Triassic Excelsior Formation.
The property was originally located and explored by Alta Gold from 1996 to 1999. A news release reported by PR news in November, 1996 stated, "... 79 rock and soil samples taken from the property showed mineralization. One-third of these samples defined four major gold anomalies with grades averaging 0.29 ounces per ton (opt) gold from a low of 0.01 opt gold to a high of 2.47 opt gold." Star Gold has contracted MinQuest Inc., a mineral exploration company based in Reno, Nevada, to conduct sampling in order to confirm the high average value of 0.29 opt (or approximately 10 g/tonne) quoted in the press release.
So far, MinQuest's geologists have collected grab samples from the mineralized area and outlying altered areas. Alteration described by Alta Gold as jasperoid breccia appears to be related to north trending parallel fault zones primarily in shale and sandstone. Altered intermediate intrusive and extrusive rocks on the eastern portion of the claim block also contain anomalous gold and silver values. Several areas of calcite-barite-quartz veining were noted on the south and central portions of the property.
MinQuest has recommended Star Gold to initiate a mapping and sampling program to further define mineralization. Plans for a reconnaissance mapping, stream and rock sampling program have been scheduled in the immediate area to define other targets. Under this potential program, the intention would be to map rock types, alteration and structure and include rock chip sampling of any alteration found. The geochemical samples would then be analyzed for gold, silver and associated elements.