Location Maps

History

The Pine Tree deposit was originally discovered in the 1950s and was held by the same group (Continental Mining and Bear Creek Mining) until recently when it was re-staked by the two present vendors. The cost of previous work on the Project is unknown, as the work was undertaken in the late 1950s. However, over 2,310 feet of underground drifting and 1,492 feet of diamond drilling in two holes were completed at an estimated cost of $1.25 million today.

Two adits on the Project were collared by Continental Mining at an elevation of 7,060 feet to partially explore what can be described as a large porphyry copper-molybdenum system that contains gold, silver and rhenium. The mineralization was found in a structurally complex zone within Triassic Luning Formation sediments, which have been thrust over by younger Jurassic sediments belonging to the Dunlap formation. The Luning sediments consist of quartzite, shale, siltstone, sandstone and limestone. Quartz porphyry dykes have been found intruding the sediments. The two sedimentary packages are separated by the Cinnabar Canyon thrust fault, which is a major feature that passes beside the two adits and crosses the Project in an east to northeast trend.

Surface exposure reveals the upper parts of a large porphyry system with widespread iron, manganese, limonite and hematite in fractures and disseminations throughout the sediments. Locally, where gullies have been cut into the rock, widespread copper oxide mineralization consisting of malachite, azurite and tenorite has been found. This zone of mineralization parallels the Canyon thrust fault for at least 3,000 feet along strike.

Visiting the adits reveals a minimum 530 foot thick zone of structurally complex and highly altered sediments containing abundant copper oxide mineralization. Towards the rear of the adits, copper mineralization decreases and quartz veins with abundant visible molybdenum can be found. Examination of the Adit #2 by Mosquito's staff revealed that fractures and the type of sediment control the copper mineralization. Replacement style mineralization is found in the limestone with disseminated and vein mineralization found in the more porous (sandier) members.

Results from underground muck sampling conducted by the previous owner in the early 1950s include 360 feet of 0.35% copper in Adit #1 and 520 feet of 0.45% copper in the crosscut. Four samples collected from the face of the crosscut averaged 0.34% MoS2 (molybdenite). Two drill holes drilled in 1959 into the edge of the system returned 480 feet of 0.17% copper in drill hole #1, 289 feet of 0.26% copper including 115 feet of 0.19% copper and 0.17% MoS2 in drill hole #2. Examination of the core from hole PT-1 found at the Bureau of Land Management at the University of Nevada indicates a zone of molybdenum bearing quartz veins from 530 to 690 feet in the hole. No molybdenum assays are available for the hole.

A flotation test conducted in the late 1950s on two rounds of the muck sampling indicated a 90.82% recovery, with the concentrate assaying 0.05 ounces of gold per ton, 11.25 ounces of silver per ton and 15.5% copper. The samples were not analyzed for molybdenum.

Original 1957 Plan

Recent View of Adits

Geology

The Property is situated in the Pilot Mountains within the Sonoma Volcanic Arch/Golconda Allochthonous terrain east of the town of Mina, Nevada. The Pilot Mountains contain Paleozoic to Jurassic sedimentary rocks and Cretaceous to Tertiary extrusive and intrusive volcanic rocks. The immediate area is located within the late-Triassic Luning Formation, a generally shallow-shelf/basin tectonic environment of shaley-limestone, limestone and dolostone, with a middle member containing deltaic mudstones, siltstones, cherty-sandstones, and chert-pebble conglomerates. These sediments were shed off of the easterly part of the Golconda allochthonous terrain and Triassic Platform, but contain minor detrital sediments shed from a westerly located volcanic arc. The Luning Formation is part of, but lies unconformably upon, the Golconda Thrust sheet.

In general, the Triassic strata of western Nevada most likely formed in a back arc basin that separated a magmatic arc to the west from an eastern continental margin. Later, Mesozoic compressional events associated with the emplacement of the Luning and Pamlico Allochthonous terrains from the north caused thrust faulting and nappe formation within the Luning Formation. The Sierran magmatic arc developed west of the Luning Formation during Jurassic-Cretaceous time, with felsic intrusions of batholithic proportions. Fluids from these intrusions formed large copper-skarn replacement deposits found throughout the region, the largest being Anaconda's Yerington deposit (operated 1953-1965 producing 803,224,674 pounds Cu worth $255 million). Locally, within the Luning Formation's carbonate-rich sediments, garnet-pyroxene skarn and calc-silicate formed from these mineralizing fluids.

Quartz-feldspar-porphyry dykes were emplaced in the project area during Cretaceous time and contain stockwork Molybdenite mineralization. In the early Tertiary the area was uplifted with widespread felsic to intermediate volcanism. Miocene, Pliocene, and Recent age regional basin and range extensional tectonics resulted in normal faulting and sympathetic reactivation of older fault systems. Gold and silver bearing fluids formed veins and alteration which overprinted the earlier mineralizing events. Recent basaltic volcanism has locally capped the present ranges. Thus, this complex history of exotic terrains, multiple structural events, and various mineralizing systems results in a geologically attractive prospect, which is however, a "hard nut to crack."

Structurally, the area is dominated by two major trends, a north-westerly structural trend, typical of most of Nevada, and a well developed easterly trend. These two trends meet in an area known as the Mina deflection centered close to the Pine Tree Property. In addition, there are east-west striking thrust faults and associated fold nappes. The area is also strongly fractured in two prominent directions, northwest to southeast and approximately east-west. The northwest-southeast trending structures offset the thrust faults indicating a younger age. Presently, various structural blocks have been defined and used for block modeling of the deposit.

Three types of mineralization have been identified: copper skarn, molybdenum-copper porphyry and gold-silver veins. The oldest mineralization on the property is copper-bearing skarn mineralization. This mineralization is believed to be related to Jurassic quartz diorite-quartz monzonite intrusions common to the area. Skarn/Calc-silicate has been formed as a result of replacement of the limestone/dolomite units that comprise the lower section of the Luning Formation. Locally massive sulphide pods and lenses of pyrrhotite with or without chalcopyrite are developed. Contacts can be knife sharp with intense calc-silicate alteration turning into fresh limestone within a few feet. The skarn is zoned from a higher temperature core consisting of varying amounts of pink/red-brown garnet and green pyroxene with almost no carbonate content, to an outer margin of pyroxene-rich, high carbonate skarn with little or no garnet. In addition to copper, the skarn contains indium, gallium, silver and tungsten.

The older copper-bearing skarn mineralization has been overprinted by a younger hypogene hydrothermal molybdenum-bearing mineralization and argillic alteration. The molybdenum is enriched with rhenium and crosscuts the skarn. Locally all evidence of the skarn mineralization has been destroyed by pervasive argillic alteration associated with the molybdenum event. Evidence indicates that mineralization is related to crystalline quartz-feldspar-porphyry dykes. Diamond drilling indicates that the direction of the increase in molybdenum mineralization and intensity of argillic alteration is located to the north of historic exploration.

Both the copper-bearing skarn and molybdenum mineralization have been cut by a series of northwest fractures and faults. The fractures often contain visible chalcopyrite, arsenopyrite, tennantite, with lesser amounts of galena and/or sphalerite. The fractures are part of the Walker Lane trend, a major fracture and fault pattern that hosts numerous gold and silver deposits in western Nevada. Sampling reveals a well developed west to east metal zonation in the massive lead--zinc-arsenopyrite sulphide bearing fractures. Low grade gold-silver bearing fractures can be found to the west, while high grade gold-silver bearing fractures occur in the east. The mineralized fractures extend over an area at least 4.5 miles wide by 2 miles long and have been intersected in all drill holes and underground workings. The fractures are readily identified in the analytical values by their high arsenic, bismuth, and indium values which may contribute valuable byproducts to the overall deposit.

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