Land Status

Newmont controls 75 claims in the heart of the historic district along the main structural trend.

History

The Bovard-Rand Mining district historically produced about $360,000 in gold and silver from 1908 to 1930, primarily from the Blue Sphinx and Golden Pen mines, with lesser amounts from the Lone Star and Rand mines located 3 kilometers northwest. Historic workings followed surface outcropping veins down steeply plunging shoots of extremely high-grade bonanza ore up to 13,700g/t Au. The district has seen intermittent exploration with only a few drill campaigns. Previous RVC drilling intersected spotty gold mineralization around the margins of the historic workings, however several core holes drilled below the Blue Sphinx shaft in the 1970’s intersected 10 - 40 meters of 1 - 2g/t Au, including several 1 - 2 meter intercepts exceeding 3.4g/t Au. Drilling has almost entirely been restricted to the upper 100 meters of the system.

Geology

Precious metal mineralization at the Blue Sphinx area is contained within a 1 - 3 meter thick vein consisting of crushed, comb quartz-cemented breccia with massive calcite and quartz-replaced bladed calcite and massive alunite. The vein is localized along a sinuous northwest trending, near-vertical, right-lateral fault zone hosted within welded rhyolite, rhyodacitic and latite ash flow tuffs of Oligocene age. Propylitic to advanced argillic alteration is evident along the length of the fault zone and extends well into the footwall and slightly into the hanging wall. Bends in strike, as well as dip, provided dilatant zones for mineralization. Surface samples of outcropping veins and dump material have assayed up to 85 g/t Au. With minimal drill testing, the possibility of identifying additional bonanza ore shoots, as well as disseminated breccia bodies, is feasible.

Underlying the district, the Triassic Luning Limestone has been identified as an ore host elsewhere in the Gabbs Valley Range. At the Santa Fe deposits of Lacana and Westley, over 7,000,000 tons of oxidized heap leach ore was discovered below the tuff at the top of the Luning Limestone. The small area of outcropping limestone in the Blue Sphinx area is weakly mineralized. This contact has never been drill tested.

Databases

Newmont maintains an extensive database for the Blue Sphinx project.