- World’s Richest Banded Iron Formation Hosted Gold Belt – Hosting more than 62 million ounces of gold
- Gold ore ledges in both the Homestake Gold Mine and the Standby Gold Mine are in major tightly folded V shaped synclines in structurally thickened iron formation, cut by late orogenic near-vertical shear zones
- MMV’s has found large-scale iron formation hosted gold ore ledges in the Rochford District
Looking West at the Homestake Mine Model
- 125 years of operation, discovered in 1876, and closed in 2001 due to low gold price; it did not run out of gold mineralization
- >42M oz Au production from 152 Mt @ 8.4 g/t Au
- Open below 8500-foot level
- Largest iron formation hosted gold deposit in the world
7430-ft. Level: Quartz vein in Homestake Formation with arsenopyrite and pyrrhotite
Homestake BIF Gold Ore Ledges
Homestake / Standby Comparison
- Standby Phase 1 drilling: Gold increases down plunge from:
- 2.0 g/t Au over 3.2m in ST18-001, to
- 1.1 g/t Au over 6.4m in ST18-002, to
- 2.8 g/t Au over 6.1m in ST18-003,
and down-dip to
- 2.12 g/t Au over 20m
(including 4.39 g/t Au over 2.5m and 5.24 g/t Au over 1.5m) in ST18-006.
- By comparison, within the surface expression of Homestake 9 Ledge upper tail, rock samples assay only 0.10 g/t Au to 1 g/t Au, with one higher-grade sample assaying 4.5 g/t Au.
- However, alteration characterized by quartz veins with well-developed hydrothermal chlorite selvages and minor sulfides, is locally well developed in the upper tail.
- Consistent ore grade mineralization (~8 g/t Au over 5-10m widths) in 9 Ledge does not begin until 1200m down plunge (800m vertical depth), and the highest Au grades and widths in the 9 Ledge Centroid do not occur until 2000m down plunge (1000m vertical depth).
Rochford Gold District Potential
- Standby Mine Trend (as discussed); Cochrane Mine Trend Non NI 43-101 compliant inferred resource of 268,000 oz @ 6.34 gpt Au, where MMV holds the down plunge extension; ~10 other early 1900s small mines in District
- Majority of historic drill holes in District are shallow; most were focused on Cochrane resource; little or no drilling in remainder of District; No drilling since 1997
At least 6 high priority ledge-style gold target trends have been defined to date by MMV
- Each target trend has space to host a multi-million-ounce gold resource, comparable to a Homestake Mine Ore Ledge
- Currently permitting drill sites for Cochrane Trend and other Target Trends in the District
- Use state of the art exploration methods to drill and define multi million oz. gold deposits in the Rochford District
- Progress targeted drilling down plunge on Standby Trend, with support from 3D modelling and Borehole EM
- Drill other target trends in the Rochford District, including the Cochrane Trend and Standard Mine Trend
- Create a timely exit strategy by securing a relationship with a major gold company with the ability to provide $10-$20m to complete a Phase 3 development drill program at Standby, and progress drilling on other Rochford District Target Trends