Summary

The Squaw Butte project is a sediment hosted, Carlin-type deposit hosted in Lower Plate stratigraphy similar to Pipeline and skarn mineralization similar to Gold Acres, located at the intersection of the Cortez-Battle Mountain trend with the Gold Acres-Fire Creek trend.

Location

The project area is located 45 kilometers southeast of Battle Mountain in the southern extents of the Shoshone Range, Lander County, Nevada, 2.5 kilometers south of the Gold Acres mine and 5 kilometers west of the Pipeline pit.

Land Status

Newmont controls 12 square kilometers of land through mining claims.

History

The Squaw Butte area is part of the Bullion district which was discovered in 1869 and has been prospected for and produced gold, silver, copper, barite and turquoise. The project was inherited by Newmont with the acquisition of Santa Fe Pacific Gold in 1997. Exploration efforts there have included detailed mapping, soil sampling, geophysics including 2 CSAMT lines and several deep drill campaigns. Most holes encountered Lower Plate stratigraphy of the Wenban and Roberts Mountains Formations at reasonable depths but have failed to intercept significant mineralization to date. Surface geochemical anomalies within the Upper Plate indicate a complex vectoring problem, possibly along discrete structures.

Geology

The project area is within a structurally complex area dominated by low-angle thrusts and northwest, northeast and east-west high angle structures. The rock packages on the property can be divided into three tectonic or thrust packages - an upper thrust sheet of Ordovician age Valmy Formation, a middle thrust package of Devonian age Slaven Formation and a lower plate of carbonate rocks of the Devonian age Wenban and Silurian/Devonian age Roberts Mountains Formations. Surface exposures on the Squaw Butte property are composed of Slaven Formation sandstone, chert, siltstone, greenstone and minor limestone with overlying thrust slices of Valmy Formation chert and quartzite and minor Tertiary age rhyolitic tuff and flows capping all other units. The quartz monzonite Gold Acres stock is located at depth and is defined by a few drill holes and a large, broad northwest trending magnetic high which may be controlling mineralization for Pipeline and Gold Acres. Alteration and mineralization are manifested by bleaching with clay alteration and localized silicification related to the numerous thrust and high angle faults. Often these are exposed in prospect pits occasionally occurring with turquoise mineralization. This association was important in the discovery of the Gold Acres and Cortez mines. The alteration and mineralization suggests hydrothermal leakage of mineralizing fluids.

Databases

Newmont maintains an extensive database for the Squaw Butte project.