Lucky Shot Project
Willow, Alaska USA
Lucky Shot is located approximately 75 miles (121 km) north of Anchorage, Alaska, in the Willow Creek mining district. Historically, this area is the third-largest lode-gold producing district in Alaska, having produced 667,000 oz of gold. The contiguous project claim block includes 76 patented and 62 State of Alaska lode mining claims covering a total area of approximately 8,700 acres (3,520 hectares). Lucky Shot is reported to be free milling with greater than 80% recovery by gravity alone and recoveries up to 95% from gravity and flotation processing.
Previous drilling campaigns identified a significant unmined up-dip extension of a high-grade gold zone in a faulted vein segment called the Coleman zone. Miranda Gold recently completed a 43-101 compliant resource estimate for the Upper Coleman Deposit which identifies a Measured and Indicated Resource of 62,100 troy ounces at an average grade of 24.6 grams per tonne. An additional 4,100 troy ounces are Inferred. A high-grade gold intercept, (0.5m) at 2.3 oz Au/t (77.2 g Au/t) sixty-five feet below the Hogan stope, a historic producer of 252,000 ounces, also indicates gold potential for an extension of this mineralization. Additionally, the project indicates potential for extension and discovery of northeast raking ore-shoots both up and down-dip of the immediate area of the mines. The vein also continues to the east and the west in other faulted vein segments. Limited drilling to the east intersected values in a blind down-dropped vein segment up to 1.6 oz Au/t (55 g Au/t) at 820 ft (250 m) below the workings of the district.
Gold Torrent has currently earned in 20% interest in the project, and has completed a Preliminary Feasibility Study that complies with the NI 43-101 standards.