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Message: THE HISTORY of NOLAN CREEK, SILVERADO GOLD MINES
THE HISTORY of NOLAN CREEK, SILVERADO GOLD MINES
'Discovering the Hidden Wealth' http://www.freeimagehosting.net/4ppun
Solomon Shear, part of the Nolan Creek Project, What Dreams are Made of.....
Video: Nolan Creek, Workman's Bench Underground Mine Operation....
Silverado Gold Mines has been honored with an award plaque three different years, from the Alaska Journal of Commerce, in its selection for one of 'Alaska's Largest Mining Companies'
(excerpts from different company news)
"The company is currently seeking a financial partner to complete the last stage of placing the Nolan gold/antimony mine into production. Silverado has worked in Alaska for 42 years." "Nolan Creek, Workman's Bench is the Company's prime exploration target for a lode gold and antimony deposit in the southwestern part of the Solomon Shear Zone."
Pringle Bench 2 ft wide vein, surface outcropping of high grade ore
From my own 'Due Diligence' work, I have pieced together some of the past company news and photos to better understand the potential for the Nolan Creek Project. Silverado discovered 4 massive Gold-Antimony veins in the Workman's Bench area, they are identified as the 'A' Zone, 'B' Zone, 'C' Zone, and the 'West' Zone. Both the "Workman's Bench and Pringle Bench properties (adjacent to each other) contain quartz-stibnite-gold veins that cut a high-angle, structurally controlled zone that is 150 ft to 300 ft wide and at least 1,600 ft in length." It appears that the company may have found a potential bulk sample at Pringle Bench. Pringle Hole # 09SH20 shows a 2"- 3" wide Gold bearing structure, lab test results show 1.69oz Gold/Ton, and the company drill tests show that hole # 09SH20 to intercept with the 'A' vein from Workman's Bench Tunnel. And further company reports show "Workman's Bench Tunnel 'A' vein to be 980 ft long, 335 ft deep, 0.95 ft wide, and has a grade of 31.52% Antimony and .405 oz/ton Gold." For myself, the most important info that brought this together was that the 3 veins from Workman's Bench Tunnel, vein 'A', 'B', and the 'West' vein, the 3 veins combined represent 42,412 tons of probable reserves containing 11,875 tons of Antimony and 17,300oz Gold. http://www.freeimagehosting.net/3tw6p
I did some simple calculations using the figures from above to get a rough estimate of the value for both Gold and Antimony from this small area of Workman's Bench
31.52% Antimony grade = 703 lb x $5.90 = $4,100.47 x 11,875= $49,253937.5
17,300oz Gold x $1,600= $27,680,000 Gold + $49,253937.5 Antimony= $76,933,937 Total
$27,680,000 Gold + $49,253937.5 Antimony= $76,933,937 Total
$76,933,937 dived-by 42,412 Tons = $1,813.96/Ton - $500/Ton production cost = $1,313.96
$1,313.96 x 42,412 Tons = $55,727,672 Total net profit
Preliminary Feasibility Study, Workman’s Bench Antimony– Gold Lode Deposit, Nolan Creek
Proposed Workman's Bench Mining Operation pg 109-110
The vein structures will be accessed through a 12-15 degree spiral decline that will provide subsurface access to the ‘A’, ‘B’, and 'West' vein structures, but beginning with the main ‘A’ Zone, where nearly 70 percent of the indicated resources reside. Figure 18.3 provides a plan for the spiral decline and a diagram showing how the mineralized ‘A’ Zone vein material would be extracted. The first level would parallel ‘A’ Zone through waste rock at a minimal width in the range of 6.5 feet to 7 feet in width and 10 feet high. Stopes will be driven at a 17% decline paralleling the vein to a depth of 150 vertical feet, then level off and driven to a lateral length of approximately 400 feet or less, with the first level 10 feet below the level on which the first ore extraction would take place. Once the stope is driven, the vein structure will be shot off the rib at an expected width of 2 feet and mucked out for processing. Figure 18.3 illustrates the back-in concept for extraction at the mineralized face. Waste would be breasted down and placed in the level below the working face. Ore would then be shot and transported to the surface and stored for processing. Extraction would take place from the hanging wall side of the vein structure, or from the eastern edge of the vein. The spiral decline depicted figure 18.3 is focused on extraction of ‘A’ Zone; however, it would also contain draw-off points to access ‘B’ and West Zones as well, which also contain indicated resources.
When extraction from the entire level has been completed, than mine crews will back up to the decline and breast down the back using the waste rock as fill, gaining 10 feet in elevation and preparing the next section of the ‘A’ Zone vein to be shot off and retrieved (Figure 18.4) . This process will continue until mine crews get to the same elevation of both C and D access levels. The upward vertical limit of the extraction process will likely depend on ground conditions, especially the presence or absence of live water (figure 18.5) . In either case, if water is encountered or ground conditions falter, then the upward limit of mining will have been reached. The mine method as designed will allow Silverado Mine crews to leave waste rock in the mine and only dealing with the initial waste rock and swell factor removed and stored on the surface.
Stope access driven at 6.5 feet wide by 100 feet long by 10 feet high will result in 6,500 cubic feet (600-650 tons) of rock in place per single working level. At a 27 percent swell factor, which is what has been experienced during the past 2 years at Nolan Creek, the in-place extracted material equals 8,500 cubic feet (of loose broken rock. Removal of the ore at 2 feet wide by 10 feet high by 100 feet long will provide approximately 2,000 cubic feet of additional area to accommodate the material swell factor.
Solomon Shear Zone- 2.5 mile section, from Workman's Bench to Saddle Prospect
Underground Map: channel samples of Massive Gold-Antimony-Qtz Veins, Workman's Bench Tunnel http://www.freeimagehosting.net/s4igc
A few select of high grade channel samples from Workman's Bench tunnel
1.8 ft of 2.88oz Gold/Ton and 27.7% Antimony
1.7 ft of 2.86oz Gold/Ton and 43.2% Antimony
.7 ft of 2.68oz Gold/Ton and 5.8% Antimony
Massive Antimony block cut from Workman's Bench tunnel, pure as can be found in nature
"The previous (prior to 2008) bulk sampling projects of placer gold from the gravel benches along the left limit of Nolan Creek had indicated that there was an association between some of the placer gold recovered and an antimony sulfide mineral called stibnite which commonly coated the coarser and angular gold nuggets. Stibnite is a sulfide mineral, and is a common pathfinder mineral for gold exploration and consists of the elements antimony and sulfur."
Workman's Bench 2009 Map- Gold-Antimony-Qtz stockwork veins
"In 2008, the Company conducted a VLF-EM ground geophysical survey over Fortress and Saddle Zones on its Nolan property to identify structures such as shear zones, faults, and veins that occur within the bedrock. The Fortress and Saddle Zones disclosed additional strong conductors (geological structures) to those located in 2007. These geological structures exist at and around the northeast end of Solomon's Shear Zone and are at the headwaters of Thompson Pup Creek where Silverado extracted many fresh (sharp-edged) gold crystals as part of its previous operations."
Nolan Creek, Thompson's Pup Gold Crystal Nuggets
From my own 'DD' research, the early history of the Koyukuk Mining District gold rush combined together with the recent Silverado Gold Mines geological work, 110 years of strong evidence, history has painted a very clear picture, showing why Silverado is sitting on one of the hottest mining properties of Alaska; rich with both Gold and Antimony, it is called the Nolan Creek!! What Dreams are made of........
Silverado's Placer Gold Production has led the company to discover a few of the lode sources, the gold veins http://www.freeimagehosting.net/xbhj7
THE HISTORY of.....
Koyukuk Mining District, Northern Alaska
BLM-Alaska Technical Report 50
(excerpts from report)
"The Koyukuk Mining District encompasses 11.6 million acres (18,125 square miles) and covers the upper portion of the Koyukuk River basin. Although reports of placer gold in gravel bars of the Koyukuk River date back to the period between 1885 and 1890, little documented exploration followed until the Klondike gold discovery in 1896. This brought a rush of prospectors to Alaska, including the Koyukuk country." (pg 10) Nolan Creek is at the center of the Koyukuk Mining District and about 175 mi north-northwest of Fairbanks,
The mean fineness for Koyukuk gold is 914
"In 1900 Myrtle Creek produced 1,900 oz of gold. Nearby Emma and Slate Creeks sparked a rush of about 1,000 fortune seekers up the Koyukuk River and its tributaries. The settlement of Coldfoot was established along the river as a supply point for mining operations in the area. The site got its name when some gold seekers reportedly got “cold feet” and turned around at that point. Gold was discovered on the Hammond River in 1900 and on Nolan Creek in 1901. Initial production from creeks in the Wiseman area came from shallow placers." (pg 10)
"In 1907 interest was renewed with the discovery of rich, buried channels more than 100 feet beneath the surface at Nolan Creek. It is reported that, in a little over 3 months, about 5,000 oz of gold were recovered, and the following year it was estimated that nearly 250 people were working on the creek. The district’s highest annual production came in 1908 with the recovery of nearly 54,500 oz of gold. Hydraulic mining was first used in the district the next year on Myrtle Creek." (pg 10)
Nolan Creek, Can Full of Gold Nuggets http://www.freeimagehosting.net/gtosi
"Production dropped to a minimum in 1942 due to the enactment of Public Law L208. This law curtailed all mining in the United States that was not related to the production of strategic metals. The only recorded lode production in the district occurred the same year when about 5 tons of antimony ore were recovered on Smith Creek as a by-product of gold mining. However, the antimony ore was reportedly never shipped due to a major drop in price. Gold production picked up again after the war, reaching a high of 11,817 oz in 1964 WITH NOLAN CREEK BEING THE LARGEST PRODUCER. Completion of the Dalton Highway in 1975 allowed for road access to many of the placer mines along the Middle Fork Koyukuk River. As a result, the use of mechanized mining methods increased dramatically." (pg13)
Nolan Creek, Workman's Bench, Massive Stibnite-Qtz Core, hole# DDH 09SH-05
"The NOLAN CREEK DRAINAGE PROVED TO BE SOME OF THE RICHES GROUND, yielding at least 175,000 oz of gold through 2000. A similarly rich, deep channel was struck beneath the Hammond River in 1912, and during the following 4 years, over 48,000 oz gold were produced, including a 138.8 oz nugget (third largest in Alaska) (Pringel, 1921; T.K. Bundtzen, written communication, 1999). THE NOLAN-HAMMOND AREA CONTINUES TO BE THE CENTER OF MINING ACTIVITY IN THE DISTRICT." (pg 10)
"In 1994 Silverado Gold Mines Ltd. WAS THE LARGEST PRODUCER, recovering 8,024 oz of gold from both surface and underground operations on Nolan Creek. In addition this operation recovered a 41.35-oz nugget from Nolan Creek, which is unofficially the 10th largest in Alaska (T.K. Bundtzen, written communication, 1999). In 1997 gold prices began a dramatic plunge, dropping over $100/oz by 1999. This has greatly affected the economics of mining in the district. In addition, high runoff during the spring of 1998 resulted in the destruction of many mine access roads, which operators then spent most of the summer reconstructing. That year, 13 active operations in the district produced a minimum of 829 oz of gold. By 2000 only five mines were active." (pg 13)
Nolan Creek 41.35 oz Gold Nugget http://www.freeimagehosting.net/y3twa
"1998 the BLM conducted ground magnetic and electromagnetic conductivity surveys at five sites as a follow-up to the airborne geophysical work. These surveys delineated several anomalies. The Bureau conducted additional geophysical studies in the form of ground penetrating radar (GPR) profiles, completed at three known placer deposits identified channel locations and depth to bedrock. A portion of these studies are described in BLM Open File Report 74. In a partnership with Silverado Gold Mines Ltd., the BLM sponsored a geology graduate student (Karsten Eden) from the Technical University of Clausthal in Germany, who mapped the geology and assessed lode mineralization in the Nolan-Hammond River area. This project fulfilled the requirements of a master’s degree in geology, and the results were published as BLM Open File Report 78 (Eden, 2000)." (pg 14)
Nolan Creek, 9oz - 8.9oz Gold Nugget http://www.freeimagehosting.net/j5oc4
Gold placers are the only mineral deposits in the Koyukuk Mining District that have undergone extensive exploration and development. Documented production totals 333,893 oz. These deposits occur throughout the district, but THE HIGHEST PRODUCTION COMES FROM PLACERS IN COLDFOOT-WISEMAN AREA.
Nolan Creek,1 of 16 Gold-Antimony Qtz vein found @ surface occurring over a width of 192' http://www.freeimagehosting.net/7xd9o
"A variety of vein deposits occur in the study area. The placer gold in Nolan Creek and the Hammond River is mostly derived from two gold-bearing vein systems that outcrop in the area (Eden, 2000, pg78). The BLM collected a series of pyritic schist and phyllite samples in the Nolan-Hammond River area and obtained a high value of 73 ppb gold. They are Cretaceous in age and APPEAR TO BE THE RESULT OF HYDROTHERMAL FLUIDS RELATED TO REGIONAL METAMORPHISM and not plutonic activity (Eden, 2000)."
Nolan Creek, Gold-Bearing Qtz Nugget http://www.freeimagehosting.net/fgwzu
"Stibnite-Gold Veins; Quartz-calcite veins near Sukakpak Mountain contain stibnite and gold. The stibnite can be coarsely crystalline and locally comprise up to 50% of the vein. Stibnite-bearing quartz-carbonate veins occur on lower Smith Creek. 15 miles to the southwest of Sukakpak Mountain. These northeast-trending veins and veinlets range from less than 1.0 inch to 3.5 inches wide, have nearly vertical dips, and can be traced intermittently for up to 300 feet along strike. They crosscut the metamorphic cleavage in the phyllite host rock. The veins also contain arsenopyrite and samples contain up to 15.3 ppm (0.45 oz/ton) gold. These veins are roughly parallel to several northeast-trending thrust faults that cross Smith Creek and are probably the source of the placer gold in that drainage (Eden, 2000). A series of rotary drill holes placed by Silverado Gold Mines Ltd., intersected vein material to depths of 90 feet beneath the surface exposures. One 5-foot intercept contained 0.086 oz/ton gold (E. Armstrong, 1998)." (pg23)
Massive Stibnite-Quartz-Gold Vein, Workman's Bench Tunnel
Silverado Gold Mines Nolan Creek Project- The GOLD-ANTIMONY DEPOSIT TYPE 36C is considered to be a sub-type of the mesothermal, auriferous lodes found in mineral provinces worldwide. Mineral deposit type 36C is not very well documented in North America but well studied in Asia, Europe, and Africa. Worldwide examples include deposits in the TRANSVAAL of SOUTH AFRICA, the Reefton District in New Zealand, and deposits in Eastern Europe and in Russia. OLYMPIADA in SIBERIA is an example of a large, productive gold (stibnite) deposit of this type.
Silverado Gold Mines
Workmans Bench Antimony Gold Lode Deposit, Nolan Creek,
June 1st, 2009 , Sedaredgar pg 42
My 'DD' research found this info.....
Transvaal of South Africa http://en.wikipedia.org/wiki/Witwatersrand_Basin
Olympiada in Siberia http://www.portergeo.com.au/database/mineinfo.asp?mineid=mn645
Nolan Creek, Pringle Bench, near surface, quartz veins & quartz-carbonate stockwork
Silverado Gold Mines
An independent NI 43-101 Technical Report
Preliminary work has identified 3 veins (A, B and West) in the 70 ft wide mineralized zone of Workman's Bench. These 3 veins combined represent 42,412 tons of probable reserves containing 11,875 tons of Antimony and 17,300 oz of gold. This resource represents ONLY A SMALL PORTION of the mineralized zone, WHICH IS OPEN TO LENGTH AND DEPTH.
The "A" vein is 980 ft long, 335 ft deep, 0.95 ft wide, and has a [average] grade of 31.52% ANTIMONY and .405 oz/ton GOLD.
The "B" vein is 525 ft long, 355 ft deep, 0.65 ft wide, and has a [average] grade of 25.63% ANTIMONY and .48 oz of GOLD
The "West" vein is 900 ft long, 225 ft deep, 0.60 ft wide, and has a [average] grade of 12.80 % ANTIMONY and .302 oz/ton GOLD.
pg 3 of Silverado 2007 Annual Report
In 2008, the Company conducted a VLF-EM ground geophysical survey over Fortress and Saddle Zones on its Nolan property to identify structures such as shear zones, faults, and veins that occur within the bedrock. The Fortress and Saddle Zones disclosed additional strong conductors (geological structures) to those located in 2007. These geological structures exist at and around the northeast end of Solomon's Shear Zone and are at the headwaters of Thompson Pup Creek where Silverado extracted many fresh (sharp-edged) gold crystals as part of its previous operations.
Nolan Creek, Thompson's Pup Gold Crystal Nuggets
Geopolitics and Natural Resources are Joined at the Hip (Grim Reaper)
Antimony is currently trading at approx $5.50/lb
The US and Europe are 100% dependent on imports.
Argentina, Pakistan, Vietnam, and Indonesia have joined China, restricting exports of their Antimony.
China and the Military have declared 'Antimony' a strategic metal.
The British Geological Survey, recently placed Antimony in its ‘at highest risk category’. Placing antimony in the, ‘at highest risk’ category ahead of the Rare Earth Elements.
The largest mine, accounting for over 50% of Chinese (Antimony) production is expected to come to the end of its mining life in 5 years, this mine has been mined for over 110 years. Some anticipate a precipitous drop in supply at this point and further export restrictions.
The US military uses are extensive and include its use to harden ordnance and lead in storage batteries, antimony tri-sulfide’s use for ordnance primers, and antimony trioxide use as a flame retardant in plastics and textile items in aircraft interiors, vehicles, insulation on wires, and clothing. Without antimony, plastics used in applications such as computer casings and televisions would melt, and because of its metalloid nature, research continues into further uses of antimony in semiconductors: It is already used as a dopant.
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