QUEENS PROJECT
System type: Volcanic-hosted, Low-sulfidation Epithermal Au-Ag
Target: Stockwork vein and disseminated gold
The Queens project is 8 miles southeast of the world-class Round Mountain gold mine (>13 Moz production and reserves; Kinross Gold Corp, Barrick Gold Corp) and 5 miles northeast of the Manhattan gold district. Like Round Mountain, Queens contains a disseminated gold system hosted in caldera-related volcanic rocks (ash-flow tuff). Preliminary sampling by Redstar has returned outcrop gold values to 0.587 ppm. Historic surface sampling during the early 1990’s returned values to 1.95 ppm gold in outcrop and 6.98 ppm gold in soil sampling. Shallow (200 to 500 feet) reverse-circulation drilling of sixteen holes in the early 1990’s returned significant gold intersections (Table 1). Hole 91-2 yielded 0.023 opt Au (0.793 ppm) over 75 feet (220-295 ft), including 0.034 opt (1.18 ppm) over 30 feet. Hole 91-5 returned 0.013 opt (0.462 ppm) over 55 feet (105-160 ft) and 0.015 opt (0.530 ppm) over 45 (220-265 ft). Local higher grades are present, reaching 0.198 opt (6.8 ppm) over five feet. Mineralization is known over a strike length of at least 1,500 feet and a plan width of up to 400 feet. Queens lies within a volcanic sequence which is part of the 25 million year-old (Ma) Manhattan caldera, part of a complex of calderas which erupted between about 24 and 26 Ma and includes the caldera hosting the Round Mountain deposit.
Table 1. Queens Historic Drillhole Assays*
| Hole | Length ft | ppb Au | Opt Au | From ft | To ft |
|---|---|---|---|---|---|
| 91-1 | 5 | 540 | 0.016 | 35 | 40 |
| 5 | 260 | 0.008 | 70 | 75 | 75 |
| 5 | 660 | 0.019 | 85 | 90 | 90 |
| 10 | 325 | 0.009 | 165 | 175 | 175 |
| 5 | 260 | 0.008 | 185 | 190 | 190 |
91-2 including | 20 | 429 | 0.013 | 10 | 35 |
| 15 | 640 | 0.019 | 75 | 90 | 90 |
| 5 | 3840 | 0.112 | 110 | 115 | 115 |
| 5 | 280 | 0.008 | 175 | 180 | 180 |
| 75 | 793 | 0.023 | 220 | 295 | 295 |
| 30 | 1180 | 0.034 | 245 | 275 | 275 |
| 10 | 670 | 0.020 | 310 | 320 | 320 |
| 5 | 330 | 0.010 | 390 | 395 | 395 |
91-3 including | 15 | 767 | 0.022 | 0 | 15 |
| 15 | 693 | 0.020 | 75 | 90 | 90 |
| 15 | 2891 | 0.084 | 110 | 125 | 125 |
| 5 | 6800 | 0.198 | 120 | 125 | 125 |
| 5 | 260 | 0.008 | 170 | 175 | 175 |
| 5 | 280 | 0.008 | 195 | 200 | 200 |
91-5 including | 25 | 672 | 0.020 | 10 | 35 |
| 5 | 540 | 0.016 | 65 | 70 | 70 |
| 5 | 520 | 0.015 | 90 | 95 | 95 |
| 55 | 462 | 0.013 | 105 | 160 | 160 |
| 10 | 3250 | 0.095 | 165 | 175 | 175 |
| 5 | 6240 | 0.182 | 165 | 170 | 170 |
| 45 | 530 | 0.015 | 220 | 265 | 265 |
| 5 | 300 | 0.009 | 285 | 290 | 290 |
| 15 | 350 | 0.010 | 310 | 325 | 325 |
| 10 | 320 | 0.009 | 340 | 350 | 350 |
| 10 | 255 | 0.007 | 330 | 370 | 370 |
91-6 including | 30 | 1253 | 0.037 | 0 | 30 |
| 5 | 5860 | 0.171 | 0 | 5 | 5 |
| 5 | 280 | 0.008 | 170 | 175 | 175 |
| BMW-3 | 5 | 347 | 0.010 | 70 | 75 |
| 5 | 482 | 0.014 | 185 | 190 | 190 |
| 30 | 458 | 0.013 | 260 | 290 | 290 |
| 5 | 399 | 0.012 | 410 | 415 | 415 |
| 5 | 393 | 0.011 | 440 | 445 | 445 |
| 5 | 367 | 0.011 | 480 | 485 | 485 |
| BMW-4 | 5 | 384 | 0.011 | 210 | 215 |
| BMW-9 | 10 | 670 | 0.020 | 295 | 305 |
| 5 | 339 | 0.010 | 315 | 320 | 320 |
^*^ Composites calculated at 250 ppb gold cutoff (0.25 g/t) and no more than 5 feet of internal waste.
