Americas explorer Minaurum Gold Inc. (CVE: MGG) (OTCMKTS: MMRGF) will be expanding its operational footprint into Nevada with a new project stake and option agreement.
Minaurum announced Wednesday that it will be purchasing a 25 per cent interest in the Lone Mountain silver-zinc-lead project held by Nevada Zinc Corp (CVE: NZN). Minaurum will have the option to acquire a 100 per cent interest once this deal has been finalized.
The project, residing in the state’s Battle Mountain Eureka gold trend, is known for its carbonate replacement deposits (CRDs). This essentially means that carbonate rocks underground on the property (limestone or dolomite) have had hot mineral-rich water flow through their cracks and spaces, thereby leaving behind mineral deposits within those rocks.
Minaurum’s exploration advisor says these deposits in this region tend to have Carlin-style yellow metal particles in their surrounding area too.
“Lone Mountain looks a lot like neighbouring historical silver-lead-zinc CRDs,” advisor and co-founder Peter Megaw said, “such as Eureka next door or Cortez up the road, both of which have been found to have a significant Carlin gold overprint.”
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Lone Mountain is surrounded by gold operators
Though focused on other minerals and metals, the CRD operation resides near gold producers like Calibre Mining Corp (TSE: CXB) (OTCMKTS: CXBMF), Nevada Gold Mines and McEwen Mining Inc (TSE: MUX).
The Eureka trend’s town of Battle Mountain primarily relies on gold mining to sustain itself economically.
The Carlin-style deposits contained in the trend are widely recognized as being the world’s most prolific and are not found in any other mining jurisdiction than the Silver State of Nevada.
Many of the state’s largest mining camps are set up in the gold trend.
Nevada’s Battle Mountain, Carlin and Walker Lane trends collectively produced 170 million ounces of gold between 1835 and 2018. They continue to produce vast quantities today.
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