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Apache
Summary
Located in the mineral-rich Mojave Desert region of Southern Californiawith excellent access to local infrastructure. The southern California desert is host to multiple active mines, including; Equinox Gold’s Castle Mountain and Mesquite mines, Rio Tinto’s Boron Mine complex, and Golden Queen Mining’s Soledad Mountain Project. In addition, Apollo Gold and Silver owns the Calico silver-barite project, which hosts one of the largest undeveloped silver deposits in the western US. Kern County, where the Apache Project is located, has a long history of supporting responsible resource development.
Geology
Mineralization within the Apache property is primarily hosted in Paleozoic calcareous sediments and meta-sediments within a structural corridor that has strong similarities to other districts in the Sierra Foothills Metamorphic (California) mineral belt, which historically produced 140 Moz of gold from lode and placer sources.
Two targets have been delineated on the property to date. The Apache target is a high-level porphyry target with multiple intrusive stocks with a strong gold-copper association. The Garlock target is an exposed porphyry copper stock with significant skarn alteration within host meta-sedimentary rocks. Over 500 rock chip samples have been collected on the property to help define specific target areas. Anomalous gold and copper assays in the Apache target vicinity occur within a 3.0 x 1.2 km area with grades up to 7.46 g/t Au and 4.63% Cu. Anomalous gold and copper assays in the Garlock target area extend over a 1.2 x 0.75 km area with grades up to 4.63 g/t Au and 7.82% Cu.
Multiple drainages were tested by stream silt sampling. Of 45 drainages sampled, 28 returned values of 20 ppb Au or higher, and 8 returned values greater than 100 ppb Au with a high of 1,085 ppb Au (1.085 g/t Au). Not all anomalies have been followed-up by ground-based exploration. No verified historical drilling has been recorded; therefore, geochemical and geophysical anomalies remain untested.
Buried Copper-Gold Porphyry Target
The Apache Property overlies Au-Cu porphyry-style mineralization and alteration that extends 3.0 km x 1.2 km. Widespread Au, Cu, Pb, Zn, Mo, and As geochemical anomalies (up to 7.46 g/t Au and 4.34% Cu) provide evidence for an enriched porphyry system. The geophysical and geological characteristics share many similarities with other major Au-Cu mines in the United States Southern Basin and Range.
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