Longstreet Gold Project

Site Name

Primary: Longstreet Gold Project
Secondary: Pi?on Gold Project
Secondary: Longstreet Gold-Silver Project

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Commodity

Primary: Silver
Primary: Gold

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Location

State: Nevada
County: Nye
District: Longstreet District

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Land Status

Land ownership: National Forest
Note: the land ownership field only identifies whether the area the mine is in is generally on public lands like Forest Service or BLM land, or if it is in an area that is generally private property. It does not definitively identify property status, nor does it indicate claim status or whether an area is open to prospecting. Always respect private property.
Administrative Organization: Tonopah USFS District

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Holdings

Not available

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Workings

Type: Underground

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Ownership

Owner Name: Golden Lion Mining Co.

Owner Name: Richardson, John N.
Home Office: Alameda,Ca
Years: 1951 -

Owner Name: Rare Earth Metals Corp.
Info Year: 2004

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Production

Not available

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Deposit

Record Type: Site
Operation Category: Past Producer
Deposit Type: epithermal vein
Operation Type: Underground
Year First Production: 1930
Year Last Production: 1930
Years of Production:
Organization:
Significant: Y
Deposit Size: S

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Physiography

Not available

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Mineral Deposit Model

Model Name: Epithermal vein, Comstock

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Orebody

Form: tabular

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Structure

Not available

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Alterations

Not available

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Rocks

Name: Tuff
Role: Host
Description: rhyolitic
Age Type: Host Rock
Age Young: Tertiary

Name: Rhyolite
Role: Associated
Description: porphyritic dikes
Age Type: Associated Rock
Age Young: Tertiary

Name: Rhyolite
Role: Host
Description: tuff
Age Type: Host Rock
Age Young: Tertiary

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Analytical Data

Analytical Data: Vein averaged $10 per ton

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Materials

Ore: Gold
Ore: Cerargyrite
Ore: Argentite
Gangue: Pyrite
Gangue: Quartz
Gangue: Talc

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Comments

Comment (Commodity): Ore Materials: gold, cerargyrite, argentite

Comment (Commodity): Gangue Materials: pyrite, quartz, talc

Comment (Deposit): The mineralized area consists of 7 separate gold-silver target zones. Four of the prospective zones including the Main Zone" are heap-leach, open-pit targets hosting oxidized sheeted-vein gold-silver mineralization. The remaining three zones are deeper, "bonanza" style, high-grade underground drill targets. Seven independent mineralizing sources, and seven areas of sheeted veining associated with major shear zones have been identified on the project with coexisting gold anomalies.

Comment (Economic Factors): Mine Development Associates (MDA) of Sparks, Nevada reported a measured resource of 3,277,900 tonnes of mineralization grading 0.82 g/t Au and 19.5 g/t Ag. 1989 drill-indicated reserves were reported as 4 Mt grading 0.024 opt Au in the Main zone and a total geologic resource of 9.6 Mt grading, 0.024 opt Au, which nicludes a North zone and a Rim zone. Past production was 1 Kt of $10 ore in 1930 from the historic workings.

Comment (Development): The Longstreet Mine was discovered prior to 1929 at which time a 100-ton cyanide mill was built on the property. 1000 tons of $10 ore was milled in 1930. IN 1951, the property was under lease to John N. Richardson of Alameda, CA. Golden Lion Mining Co. and Naneco Minerals, Ltd. had interests in the property in the 1990s. Exploration interest in the area increased with the discovery of the Midway property 18 miles west. In 2002, Rare Earth Metals Corp. announced plans to acquire Golden Crown Resource?s option on the Pi?on property held by MinQuest Inc., a Nevada-based mineral exploration and property acquisition company. A mapping program was carried out at Pi?on during the summer of 2002, and a property valuation report to verify published reserve and resource was prepared. In early 2004, Rare Earth Metals Corp. announced the results of the initial phase of exploratory drilling at the Longstreet Gold-Silver Project. The company has an option to acquire a 100% interest in the Longstreet property. This first program was designed to verify the extent and continuity of the mineral resource referred to as the Main Zone, first mined in the 1920s, and calculated in a 1988 preliminary feasibility study by Mine Development Associates (MDA) of Sparks, Nevada. The MDA study reported a measured resource of 3,277,900 tonnes of mineralization grading 0.82 g/t Au and 19.5 g/t Ag The phase 1 drill holes were oriented to intersect the two sheeted-vein set structures which host the mineralization. The drilling program was successful in demonstrating the continuity of mineralization. The holes intercepted oxidized gold-silver mineralization where projected from previous drilling. The intervals reported similar to greater grades over similar to greater widths. The strike and down-dip extent of mineralization will be tested in the spring when weather permits.

Comment (Identification): This record covers an area which encompasses the historic Longstreet Mine (current Main Zone of mineralization) as well as a surrounding larger area of mineralized targets. The historic Longstreet mine is described by MRDS record # M231672 from which all pertinent material has been incorporated into the current record. The earlier record could be deleted.

Comment (Location): The property is located about 1.5 miles SE of Pi?on Peak.

Comment (Workings): Old workings consist of two adits and a shaft, with recent drilling

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References

Reference (Deposit): Long, K.R., DeYoung, J.H., Jr., and Ludington, S.D., 1998, Database of significant deposits of gold, silver, copper, lead, and zinc in the United States; Part A, Database description and analysis; part B, Digital database: U.S. Geological Survey Open-File Report 98-206, 33 p., one 3.5 inch diskette.

Reference (Deposit): Rare Earth Metals Corp., press release, 12/2/02

Reference (Deposit): NBMG MI-2002

Reference (Deposit): NBMG Map 91

Reference (Deposit): Amer. Mines 1996, 1997

Reference (Deposit): The Denver Mining Record 7/19/89.

Reference (Deposit): Kral, V.E., 1951, Mineral Resources of Nye Co.: NBMG Bull. 50, p. 100-101

Reference (Deposit): Kleinhampl, F.J. and Ziony, J.I., Geology and Mineral Deposits of Northern Nye County; NBMG, Bulletin 99 A & B.

Reference (Deposit): NBMG File 239, Item 1

Reference (Reserve-Resource): NBMG, 1994, MI-1993

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Nevada Gold

Nevada has a total of 368 distinct gold districts. Of the of those, just 36 are major producers with production and/or reserves of over 1,000,000 ounces, 49 have production and/or reserves of over 100,000 ounces, with the rest having less than 100,000 ounces. Read more: Gold Districts of Nevada.