The Selena Project is a Carlin-style gold project in White Pine County, Nevada, located approximately 7.5 kilometers southwest of the Golden Butte mine in the southern Cherry Creek Range. At Selena, the target is shallow gold mineralization within the regionally prospective Pilot Shale. EMX has identified concealed drill targets at the intersection of structural corridors hosting anomalous gold mineralization in Guilmette Formation carbonate rocks that project up-section to the Pilot Shale contact. EMX has entered into an option agreement with Ridgeline Minerals Corp. (“Ridgeline”), a wholly-owned subsidiary of Carlin-Type Holding Ltd (“CTH”) a privately-held British Columbia corporation. The Agreement provides EMX with a 9.9% interest in CTH, and for each Project a 3.25% production royalty and advance royalty and milestone payments. See Company news release dated May 30, 2019 for more information.
The Selena property contains dismembered, gently west tilted structural blocks exposing Devonian through Pennsylvanian sedimentary rocks. These rocks are variably altered with prominent jasperoids occurring along the Mississippian Joanna –Chainman contact, as well as smaller jasperoid bodies developed along the Devonian Guilmette-Pilot Shale contact. Company geologists recognized several east-west oriented structural zones marked by wispy jasperoid and thin calcite and silica-rich veins which carry gold mineralization within Guilmette limestones. EMX grab samples collected across this zone average 1.09 g/t gold (n=16), with a high of 6.02 g/t gold. The zone appears to widen as it cuts up-section and continues under shallow cover to the west where it is projected to intersect the Pilot Shale, a regionally important host to gold mineralization. The concealed targets in the Pilot Shale lie beneath a shallow pediment surface and structurally below intensely altered and silicified Chainman-Joanna ridges to the west.
EMX is targeting the projection of structurally controlled Carlin-style alteration into the reactive Pilot Shale that is untested and covered by what appears to be very thin pediment. Other gold geochemical anomalies identified by previous exploration are also untested on the property.
Note: The nearby mines and deposits in the region provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar mineralization.