Volcanic-hosted chalcopyrite mineralization
20.45 g/t silver & 1.25% copper from an 8.0 meter core length interval (Hole SH10-04).
In 2011, two drill phases successfully expanded the dimensions of the West Horizon Cu-Mo porphyry and demonstrated the presence of a new adjacent deep Au-Ag-Cu mineralization along the Main Horizon. Drilling on the West Horizon continued to intersect long intervals of disseminated and fracture/veinlet controlled chalcopyrite (Cu) and molybdenite (Mo) porphyry mineralization. Drill hole SH11‐05, a 603 meter vertical hole and the deepest to date, cut nearly continuous mineralized porphyry and ended in Cu-Mo mineralization. Intersections included 182 meters of 0.31% Cu and 0.013% Mo followed deeper by 364 meters of 0.11% Cu and 0.057% Mo. At 296 meters the hole intersected a brecciated zone that returned 5.0 meters grading 1.87g/t Au, 65.40g/t Ag, 0.12% Cu and 1.161% Mo. (Photo below). In addition, some West Horizon holes intersected significant Cu‐Ag± Au mineralization well into the volcanics and sediments adjacent to the porphyry. By 2011, eight holes delineated Cu-Mo mineralized porphyry for approximately one kilometer from the Finlay-Equity Mine property boundary south to hole SH11‐13. The porphyry is considered open to the north, south, west and to depth.
Porphyry Molybdenum Breccia Mineralization
1.88g/t gold, 65.4g/t silver, 0.12% copper & 1.16% molybdenum
from a 5.0 meter core length interval (Hole SH11-05)
In the northern portion of the East Horizon hole SH11-08 returned a 2-meter intercept grading 498g/t Ag and 0.22% Cu. Described as a fault zone this intersection is believed to represent “leakage” possibly from a deep porphyry.
A very significant discovery in 2011 was gold-silver-copper mineralization with a distinct geochemical signature potentially related to a deep magmatic source in hole SH11-12. This hole returned grades of 0.4g/t Au, 29.37g/t Ag, and 0.19% Cu (0.91% Cu EQ) over 76 meters (See Company news release dated November 29, 2011). Included in this intersection was 31.4 meters of 0.49g/t Au, 43g/t Ag, and 0.30% Cu (1.23% Cu EQ). Gold in this intersection ranged from 1 to 8g/t Au and from <1 to 747g/t Ag. These grades are comparable with the former Equity Silver Mine, located three kilometers north and on trend with the Main Horizon. This deeper, mesothermal style mineralization occurs along what the Company now refers to as the “MAIN DEEP” Horizon.
Hole SH11-06 at 613.5m
Quartz veined volcanics with semi-massive pyrite, arsenopyrite, chalcopyrite and sphalerite.
0.39g/t Au, 12.20g/t Ag, & 0.19% Cu over a 1 meter core length interval
Hole SH11-11 at 234.95m
Andesite Tuff with chalcopyrite and pyrite as disseminations and fracture fillings, minor sphalerite, galena and molybdenite.
.05g/t Au, 36.8g/t Ag, & 0.24% Cu over a 1.5 meter core length interval.
Hole SH11-12 at 215.0m
Strongly brecciated andesite tuff with infillings of pyrite, arsenopyrite, chalcopyrite and sphalerite.
.81g/t Au, 3.9g/t Ag, & 0.02% Cu over a 2.2 meter core length interval
Hole SH11-12 at 232.5m
Brecciated and quartz veined volcanic rocks with abundant arsenopyrite, chalcopyrite, sphalerite and tetrahedrite.
2.03g/t Au, 209g/t Ag, & 1.81% Cu over a 1.57 meter core length interval
In 2012 a ZTEM survey was flown over the Silver Hope property. ZTEM anomalies are of interest in that the Company has already verified that many of these anomalies are related to mineralized zones such as the West Horizon Cu-Mo porphyry; the MAIN Horizon “Equity Silver Mine-style” Ag-Au-Cu mineralization; and high-grade Ag-Cu mineralization associated with the East Horizon. These “Horizons” are exemplified by coincident ZTEM, Induced Polarization (IP), and gravity anomalies along with mineralization intersected by core drilling.
In 2013, analysis of the ZTEM, IP and drilling suggested that the “DEEP” component of the Main Horizon can be traced for >2.1 kilometers due south from the northern property boundary. The Main Deep Horizon, for at least one kilometer south from hole SH11-12 and parallel to and east of the Gaul Ag-Cu mineralized zone, had not been drilled. Subsequently Finlay conducted two exploration programs which targeted multiple ZTEM anomalies identified over a 5 by 7-kilometer area. Many ZTEM features outside the previously explored area (Main and West Horizons) have extensive overburden cover or are capped by young basalt flows covering older prospective volcanics and sediments.
In August 2013, several ZTEM anomalies were prospected, mapped and sampled. Prospecting in the southeast part of the property resulted in the discovery of visually impressive, volcanic hosted epithermal quartz veining, vein stockwork and breccia. No precious metal or pathfinder elements were detected suggesting this is the upper, barren level of a hydrothermal system. In October, SJ Geophysics conducted a deep, 3D IP survey with the objective of testing for deep, “Equity” style and/or porphyry mineralization. Several strong chargeability anomalies were identified with one of the most prominent located just east of the Gaul Zone.
During the period October 14 and November 11, 2014, two holes of a three-hole drilling program targeted IP chargeability anomalies from the 2013 IP survey in the East Horizon and Gaul Zones. Drill hole SH14-02 tested a strong IP chargeability anomaly delineated from surface to 400 meters deep in the Gaul Zone, the southernmost of the three Main Horizon mineral deposits. Andesitic volcanic and conglomeritic rocks with variable amounts of pyrite, chalcopyrite and localized tetrahedrite, galena and sphalerite were intersected down hole to nearly 300 meters. This hole yielded the highest-grade intersection with a 10.25 meter interval grading 0.19g/t Au, 319g/t Ag, 0.88% Cu.
Drill hole SH14‐03, located 120 meters west of hole SH11‐12 was drilled to test the down dip extent of the “Main Deep Horizon” mineralization. Disseminated, fracture and quartz veinlet controlled sulphide mineralization was found throughout much of the hole. Sulphide‐rich breccias were intersected and appear similar, albeit narrower than those up dip in SH11‐12. Extensive and often intense alteration marked by silicification, quartz veining and sericite are commonly associated with pyrite, chalcopyrite and localized tetrahedrite, arsenopyrite and sphalerite. The overall extent of mineralization and alteration is however substantially more widespread than in SH11‐12. The strong precious and base metal mineralization encountered in Hole SH11‐12 combined with the very wide alteration and lower grade mineralization in SH14‐03 indicate the presence of a large hydrothermal system in the Superstition and Gaul areas. The Company’s work since 2010 has so far extended the strike length of the various mineralized zones to 1.73 km. For the most part the mineralized zones are open along strike and to depth.