Poison Project in Nevada, USA
Nevada is ranked the 3rd best jurisdiction in the world for endowment potential and ability to undertake exploration and mining. The Nevada project fits Koza Ltd.’s strategy of building a portfolio of early to advanced stage exploration properties with the long-term goal of having a central ore processing plant receiving ore from various satellite projects.
Poison is an early stage exploration property in a known epithermal gold-silver region (Southern Idaho and Nevada). Mineralisation can be traced over 1.5 km of length in two, and possibly three subparallel trends. The maximum gold grade in surface rock sampling is 13 g/t Au (historic mullock pile). The work programme for the Poison area has started in 2017.
Goldfield West Project in Nevada, USA
The Goldfield West (GFW) property is comprised of 105 unpatented mining claims covering a total of 2,100 acres. The project is located about 3 miles west of Goldfield, Nevada and approximately 4 miles west-southwest of the historic Goldfield mining camp. The Goldfield West property is underlain by Tertiary felsic volcanic rocks and an epiclastic volcanic sequence consisting of tuffaceous sandstones and volcanic conglomerates.
Two styles of gold mineralization identified by work to date include one hosted by quartz veins and a second in permeable felsic volcanic tuff and volcanoclastic sediments. Bonanza style, high grade gold bearing veins are the primary targets. The quartz-alunite-sulfide veins hosting high-grade mineralization in the main Goldfield district are identical in appearance to samples from GFW. The second style mineralization targeted at GFW is represented by widespread, low grade gold mineralization hosted by permeable tuffaceous sediments and volcanically derived sediments.
Drilling has encountered significant thicknesses of low grade mineralization (see attached results) with intermittent higher-grade intervals. These results confirm the existence of one or more gold-bearing hydrothermal systems associated with structural preparation, argillisation and silicification of host rocks. Three targets (Nevada Eagle, South and Centre) have a combined low-grade resource of approximately 100,000 ounces of gold (depending on cut-off). The resource areas are generally open ended and little work has been completed between these resources. Continued exploration of this system is recommended to define the size and grade of the gold mineralization. Nearby deposits include Waterton’s Goldfield/Gemfield deposits containing a reported 4.6 million ounces of past gold production and an additional reported 2.5 million ounces of gold reserves. The property has the potential to host +1 million ounces of gold in Tertiary age rhyolite flow domes, volcanoclastics and basement Palaeozoic rocks. Although the gold in the system is generally low grade (~0.65 g/t) surface samples collected from old workings and outcrops have exceeded 15 g/t gold while drilling has encountered up to 23 g/t gold.
Montgomery Pass Project in Nevada, USA
The Montgomery Pass Claims project is located within the Buena Vista Mining District in southwestern Mineral County, Nevada, USA approximately 161 kilometers west of Tonopah, Nevada and 72.4 kilometers north-northeast of Bishop, California. The project area comprises nine targets bearing characteristics based on geologic setting or mineral occurrence. Each of these areas has been investigated either historically with shallow prospects or underground workings or by modern sampling-geologic mapping- drilling.
A database has been compiled from the previous work on the property comprising over 1200 rock chip samples, 150 soil samples and 98 relatively shallow drill holes combined with geologic mapping of surface and underground workings. Compilation of these historic exploration efforts identified ore grade gold and silver values occurring in surface sampling and shallow, wide-spaced drilling. Five of the eight target areas have had modest drill testing. The resulting compilation of surface, underground and drilling results clearly indicates that further exploration at Montgomery Pass is warranted.
The Project fits Koza Ltd.’s strategy of building a portfolio of early to advanced stage exploration properties with the long-term goal of having a central ore processing plant receiving ore from various satellite projects. Also, Koza Ltd. has recognised the potential for high grade vein style mineralisation within the property.