The Speed Goat project is located 35 km west of Battle Mountain, NV and is an intrusion-related gold project within the Battle Mountain-Eureka Trend, Nevada 15 km SW of the past-producing Lone Tree Mine and 30 km NW of the Phoenix-Fortitude intrusion-related skarn system. Gold occurs within Jurassic granodiorite in a zone of intense oxidized quartz-feldspar-sulfide sheeted/stockwork veinlets genetically related to a series of N-S striking Eocene (?) porphyry dikes – analogous to intrusion-related systems in Yukon/Alaska.1
Host rocks are Jurassic Granodiorite, Eocene (?) intermediate N-S trending normal porphyry dike swarms with dominantly N-S sheeted qtz-feldspar-sulfide veinlets. Alteration consists of secondary feldspar (K-feldspar±albite) associated with oxidized quartz-feldspar-sulfide veinlets, likely hypogene pyrite ± pyrrhotite ± chalcopyrite sulfide assemblage. There is a strong Au-Bi-As-Sb-Cu geochemical association consistent with other (reduced) intrusion related gold systems.
Bulk tonnage, surface-mineable gold targets include 1) a Km-scale oxidized qtz-feldspar-sulfide vein swam associated with N-S Eocene (?) porphyry dikes, similar genetic relationship as other intrusion-related gold systems in the Battle Mountain region, 2) a 0.6 x 1.1 km Au-in-soil anomaly with samples up to 521 ppb (n=73, avg. 82 ppb Au) that remains open in multiple directions and is comparable to the Fort Knox Mine, AK with 7.5 Moz past production within 1 km2 footprint.3 The Speed Goat property also has rock chips up to 5.1 g/t Au (n=20, avg. 0.67 g/t Au) with highly anomalous Bi-As-Sb-Cu consistent with global intrusion-related gold systems and a sheeted vein zone with anomalous rock chips and soils offset by post-mineral fault and covered with shallow alluvium – concealed target.
In late 2021 EMX has entered into an agreement with Hochschild Mining PLC (LSE: HOC) (“Hochschild”) for the project. The Agreement provide EMX with work commitments and cash payments during Hochschild’s earn-in period, and upon earn-in for a given project, a 4% net smelter return (“NSR”) royalty, annual advance royalty payments, and milestone payments.
1 Hart, 2007. Reduced Intrusion-Related Gold Systems, Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p. 95-112.
3 Kinross, 2018. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. Effective date: 6/11/2018. Qualified Person: John Sims
Note: The nearby mines and deposits mentioned above provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar tonnages or grades of mineralization
2 NBMG, 2019. Nevada Mineral Industry 2018, Special Publication MI-2018