If you travel three and a half hours northwest of Las Vegas, you will come across All American Gold Corp.’s Goldfield West Property. The site is a 2,100 acre (850 hectare) advanced exploration property with defined targets comprised of 105 unpatented mining claims. Approximately three miles west of the town of Goldfield, well-graded dirt roads make the site easily accessible. It is adjacent to International Minerals Goldfield properties, which reportedly contain 1.2 million ounces of gold resources. The Goldfield district is famous for multi-ounce, bonanza gold ores and has recorded historic production in excess of 4 million ounces of gold at an average grade of > 17 g/t Au.
AAGC’s Goldfield West property encompasses an area of Tertiary volcanic and volcanoclastic rocks. Several mining exploration companies, including the U.S. Geological Survey, hypothesize that the western edge of a caldera rim runs through the property. The data compiled from historic drilling results and information gathered through geological mapping, geochemical sampling and geophysical surveys has identified three distinct targets over a strike length of 3.5 miles.
One of the most recent work campaigns in the area, completed by Bonaventure Enterprises, combined geophysical surveys, geochemical sampling and 23 reverse circulation drill holes at the Nevada Eagle and South targets. This work helped to define at least 220,000 ounces (more than $300 million) in resources. Results like these usually confirm the existence of a gold-bearing hydrothermal system associated with the argillization and silification of host rocks close to the feeder structures.
At the South target, interpretation of geophysical surveys has identified an 800 meter long nearly north-south structure. A hole drilled back in 2010 identified minor veinlets of quartz/pyrite/alunite and gold values up to 1.45 g/t over 1.5 meters. Two fences consisting of three angle drill holes spaced roughly 100 feet apart will attempt to penetrate the fault identified by the geophysical surveys. At Nevada Eagle in the northern part of the property, drill holes will target an interpreted broad north-south trending structure which appears to host an intrusive dike. Two or three additional angle holes are planned to test the geophysical anomaly. All of the drill holes will be angled across the interpreted structures, supervised and logged by an independent geologist. Drill samples will be collected on 1.5 meter lengths and shipped to ALS Chemex in Reno, Nevada for analysis of gold and silver content.
As 2012 approaches, All American Gold plans to continue to further assess the overall potential of the Goldfield West Property, which has been permitted for a total of 21 holes.
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