Sunday, April 20, 2014

Newsboy Gold Project, Arizona

Location:

  • 10 miles (16 km) SE of Wickenburg, Arizona
  • 45 miles (72 km) NW of Phoenix, Arizona

Land Holdings:

  • 7,400 acres (2,990 ha)
  • 250 lode claims
  • 12 placer claims
  • 3 state exploration permits
  • 2 patented mining claims

Project Overview

The Newsboy project is located 10 miles (16 km) east from the Vulture Mine, one of the largest and highest grade gold mines in Arizona and is within 25 miles (40 km) of the historical production of 1.2 million ounces of gold and 1 million ounces of silver. More than $7 million was invested from 1987 through 1995 for drilling 35,214 feet (10,700 meters) in 162 holes, completing a feasibility study and preparing Federal and State environmental permit applications. Historic resources were estimated to contain 235,000 ounces gold and 3.4 million ounces silver in 5.4 million tons (4.9 million tonnes) with average grades of 0.044 gold opt and 0.64 silver opt.  However, the Company currently has no known reserves on its Newsboy Project.

Eight highly prospective exploration targets are yet to be tested. The Company has a comprehensive exploration program that includes further drilling, metallurgical testing, updating environmental permit applications and completion of a preliminary feasibility study.

In 1942 11,000 tons (10,000 tonnes) of ore averaging 0.07 gold opt and 8.0 silver opt were shipped to smelter in Arizona.

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Newsboy Gold Project, Arizona - Looking south from Newsboy  
Looking south from the main Newsboy deposit