Projects

Overview

Mineral Mountain is an early stage Laramide age porphyry copper-molybdenum exploration project (4,905 acres) located in the Mineral Mountain Mining District, Pinal County, Arizona.  The Laramide copper province hosts a substantial number of large copper-molybdenum mines and deposits in Arizona, a mining friendly; politically secure jurisdiction with excellent and readily accessible infrastructure.

Regional Setting: 
The project is located at the intersection of the Casa Grande to Globe-Miami mineralized trend (see table below) and a north-south trending “Range Front” system along the flank of a coincident regional scale, positive magnetic and gravity anomalies similar to other Laramide age porphyry copper deposits/mines in Arizona.  The project is located between the Florence copper deposit to the west and the Resolution copper deposit to the east.

District tonnes copper (%) contained copper (lb)
Globe-Miami 1,594,000,000 0.64 22,484,326,400
Resolution 1,624,000,000 1.47 52,615,651,200
Florence* 490,000,000 0.33 3,234,000,000
Casa Grande* 740,000,000 0.90 14,678,640,000

*In-Situ Leach (“ISL”) project, only oxide portion of the deposit.

The Laramide age porphyry copper deposits listed in the above table are reported to contain significant concentrations of molybdenum. 

Project Geology:

The project is underlain by Precambrian age, Pinal schist, diabase and granite intruded by Laramide age quartz monzonite and granodiorite stocks.  The Quartz Monzonite dips to the east under the Precambrian rocks and is intruded by late stage aplite, aplite-pegmatite, hornblende dacite and porphyritic dikes (30% phenocrysts).  

The structural fabric of the property consists of a prominent west-northwest trending “graben” type structural zone and a series of early stage ENE and later stage NS trending dikes and faults.  The graben feature crosses the central portion of the property and marks the northern extent of the Laramide intrusive porphyry style alterations and copper mineralization.  Miocene age precious metal and high sulfidization fissure vein systems related to the Laramide intrusive event occur in the Precambrian rocks north of the graben feature.


Exploration Target:

Exploration between 2015 and 2018 located two large areas of porphyry style copper-molybdenum-gold mineralization hosted in Laramide and Precambrian age rocks.  The two targets are summarized as follows:

  • Approximately 600 copper showings have been located in two areas of the property.  The first area is underlain by Laramide age intrusive rocks.  The second area is located southeast of Area 1 and underlain by Precambrian age granite, diabase, Pinal Schist and in Tertiary age granodiorite dikes.  
  • Area #1 measures 4,500m long by up to 2,000m wide and is open to extention to the south, Area #2 measures 2,800m long and averages 400m wide.
  • Area #1 hosts three zones of disseminated copper-molybdenum mineralization the largest of which measures approximately 1,000m long by 350-450m wide.
  • In Area #1; the higher concentrations of molybdenum (up to 0.2% Mo) are associated with the largest zone of disseminated copper mineralization which coincides with a large, positive chargeability anomaly outlined in 1971.
  • Area #1 is characterized by disseminated, quartz vein and fracture styles of copper mineralization with significant molybdenum concentrations.
  • Area #2; is characterized by quartz vein and fracture hosted copper mineralization with significantly lower concentrations of molybdenum than recorded in Area #1.

Geological Model:

Two porphyry centers occur within the property.  The Laramide age stock exposed in Area #1 exhibits the alterations and secondary copper minerals indicative of the boundary between the oxide zone (malachite, chryscolla, azurite) and supergene zone (chalcocite) of a weathered Laramide age porphyry copper-molybdenum deposit.  The disseminated copper-molybdenum mineralization; historical chargeability/resistivity anomaly; spatial distribution of the quartz vein and fracture mineralization and northeast mineralized trend supports this interpretation.  The mineralization, alteration and host rocks in Area #2 suggest a deeper-seated Laramide age porphyry intrusion emanating mineralized fluids upward along fractures..  

Historical Chargeability Anomaly:

In November 1971, Marguerite Lake Mines Ltd under the supervision of Fred. J. Syberg, B.Sc. completed an Induced Polarization and Resistivity survey (six lines) using a dipole-dipole configuration in a portion of the property now covered by Area #1.  Syberg concluded that the survey identified a chargeability anomaly measuring approximately 6,000 ft (1,800m) long by approximately 3,000ft (900m) wide. 

 Mineralization:

Copper mineralization in Area #1 consists of malachite, chryscolla and chalcocite along with minor amounts of azurite and secondary native copper and rare chalcopyrite and covellite, hosted in potassic and phyllic and later propylitic (epidote veining) altered rocks.  Copper minerals observed in Area #2 were malachite and chrysocolla.

In 2018, a rock chip sampling was completed to characterize the copper-molybdenum-gold-silver concentrations and trace element geochemistry of mineralized structures exposed in outcrop. These samples are not necessarily representative of the mineralization on the property. The average metal concentrations of the three styles of copper mineralization observed at Mineral Mountain are shown below.    

 

 

 

 

Average Concentration

 

 

Style of

Number of

Cu

Cu

Mo

Au

Ag

Mineralization

Samples

(ppm)

(%)

(ppm)

(ppb)

(ppm)

Disseminated

47

5,752

0.575

71.8

57.9

6.6

Quartz Vein

141

12,020

1.202

65.3

127.5

16.3

Fracture

135

4,223

0.422

13.6

43.1

7.3

Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion

The Quartz Vein hosted mineralization in Area #1 and Area #2 exhibit significant geochemical differences possibly due to depth to the source porphyry system (see below).

Area Cu (ppm)  Cu (%) Mo (ppm) Mo (%) Au (ppb) Ag (ppm)
Area #1  9,621 0.962 80 0.008 143.9 17.6
Area #2  18,542 1.854 27 0.003 82.7 12.8

Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion. Number are rounded to reflect best practice principals.

Area #1 is characterized by three seperate northeast trending zones of disseminated copper mineralization and range in size from 400m by 200m to 1,000m by 345-450m.  Both Quartz Vein and Fracture controlled copper mineralization occur with the disseminated mineralization.  Molybdenum (defined as greater than 20 ppm and up to 0.2%) occurs in three zones ranging in size from 800m by 200m to 1,400m by 400-800m and overlaps the disseminated copper mineralization.

The frequency of mineralized veins and  fractures in outcrop vary from wide spaced to intense (1 cm spacing).  The dominant mineralized trend is northeast along with a secondary northwest direction like other Laramide age porphyry systems in Arizona.  Abundant, fracture (up to 7 cms wide) controlled chalcocite (supergene enriched zone) occurs throught Area #1. 

Area #2 consists of Quartz vein and fracture controlled copper mineralization hosted in Precambrian age Pinal Schist, Diabase and the Ruin Granite and in Tertiary age grandiorite dikes.  The copper mineralization contains significantly lower concentrations of molybdenum.  The strike and dip directions for these mineralized features are similar to that observed in Area #1.

Bases on the sampling completed to date; the Median Values and range of metal concentrations for the three styles of mineralization at Mineral Mountain is presented below:

 

 

 

 

Median Values

 

 

Style of

Number of

Cu

Cu

Mo

Au

Ag

Mineralization

Samples

(ppm)

(%)

(ppm)

(ppb)

(ppm)

Disseminated

47

2,595

0.259

4.0

11.0

2.3

Quartz Vein

141

5,770

0.577

10.7

28.0

2.6

Fracture

135

1,523

0.152

3.0

10.0

1.5

Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion

 

 

 

 

Range of Values

 

 

Style of

Number of

Cu

Cu

Mo

Au

Ag

Mineralization

Samples

(ppm)

(%)

(ppm)

(ppb)

(ppm)

Disseminated

47

73 to 20,200

0.007 to 2.20

0.5 to 1,060

5 to 696

0.4 to 65.4

Quartz Vein

141

80 to 103,800

0.008 to 10.38

0.2 to 2,080

5 to 872

0.2 to 483

Fracture

135

13 to 30,000

0.001 to 3.00

0.5 to 282

5 to 465

0.2 to 65.4

Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion