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Relief Canyon is Firstgold Corp.'s principal mining property. It is an open-pit, heap leaching operation with excellent exploration prospects.
From 1986 to 1989, 220,500 ounces of gold were taken out of the Relief Canyon property. The operations were then ceased because of the falling price of gold.
Firstgold Corp is now following up on previous drilling that confirms there is significant model contained resources. (detailed in drilling section below)
In accordance with the new 43-101 rules governing statements on reserves and indicated resources we need to duplicate some of our previous drill hole and infill drill to speak to a current model indicated resource. In addition to this drilling we will also be drilling in new zones not recognized by the past operators. Firstgold Corp currently holds a total of 78 claims including 57 mill site claims and 21 unpatented mining claims.
Firstgold Corp.'s latest summary of the exploration activities at Relief Canyon can be found here!
Geology
Gold mineralization at the Relief Canyon Mine area is hosted in an inter-formational tectonic breccia between younger, thin-bedded sandy shale of the Triassic Grass Valley Formation and older thin-to-medium bedded Triassic Cane Springs limestone, as well as along high-angle faults and bedding plane faults in the Cane Springs limestone. Tertiary sills of quartz monzonite and dacite have intruded the breccia along high angle northwesterly faults and acted as traps for later gold-bearing hydrothermal solutions. The ore body is hosted in an antiform, with a steeper dip on the eastern limb, and plunges south-southwest. Most mine development has been on the more accessible western limb of the fold. Large, low-angle northwesterly striking faults, originally interpreted as thrust faults, appear to have occurred along stratigraphic beds, and may be detachment faults rather than thrusts. Multiple high-angle faults, representing several regionally significant tectonic fabrics, also cross-cut the Relief-Packard Flats area.
Drilling
Over 400 reverse circulation holes have been drilled at the Relief Canyon project. Of the approximate 450 holes drilled, 106 had intercepts of 0.1 au/t or better. There are numerous holes with several feet of 0.09 - 0.099 opt Au intercepts. The ore zone of Relief Canyon remains open on three sides. Additional drilling is expected to significantly increase the size of the gold resource. Most of the drilling to date was targeted for open pit mining, resulting in shallow vertical holes (<500') overlooking potential deeper ore. A significant number of deep holes with better than 0.3 oz/t Au were drilled on the North end of the property, and these results are in addition to the highlights not included above. This area is targeted for its underground mining potential. After new confirmation drilling in the area, one possible outcome involves an exploration decline for bulk sampling, and extensive underground drilling.
Operating Plan
Firstgold Corp's intends to continue the development of the resource model at Relief Canyon and hopefully be able to bring the current mineralized zones into a reserve category. As part of this strategy, substantial effort has been made in site renovations, including the construction of a new Process plant. Additionally, Firstgold Corp. intends to construct a new, 1,000,000 sf leach pad which will give the company the flexibility to process any new or existing material as needed.
Open Pit Ore Resource
| Table 1-1 Model Contained Resources At Several Au Cutoffs | |||
|---|---|---|---|
| Cutoff Grade (0z) | Ore (tons) | Gold (0z/T) | Contained (Oz) |
| .003 | 76,782,000 | .012 | 921,384 |
| .010 | 30,483,000 | .022 | 670,384 |
| .015 | 18,642,000 | .028 | 521,976 |
| .019 | 12,939,000 | .033 | 426,987 |
| .030 | 5,629,000 | .046 | 258,934 |
| .040 | 2,702,000 | .060 | 162,120 |
| .050 | 1,592,000 | .072 | 114,624 |
PotentialA 1997 Non 43-101 compliant resource study by Independent Mining Consultants of Tucson Arizona is the most recent study completed on potential mineral resources on the property. This study does not include any consideration for those holes considered underground exploration targets to the North and North West of the past producing pits. These reserves listed are within area's considered proximal to the North Pit, the South Pit, and the Light Bulb pit. The Company currently holds approximately 75% of the surface area considered in these calculations. The value of contained silver is not included in the figures below. The Company's open pit resources are included; any potential underground resources are excluded.
While the company has engaged SRK Resources to prepare a Technical report we are not yet in a position to verified the historical resource estimate. We are not treating the IMC report as current mineral resource estimate and it should not be relied upon.
Current and Near Term Activities
Compilation of previous data continues as further refinements of the gold mineralization, lithology, alteration, and structure evolve. Surpac software is being loaded with historical drilling data, past assay reported results are being confirmed by selected reanalysis of available pulps and rejects. Confirmation drilling will be undertaken, including twinning of previous holes, infill drilling, and step out drilling, aimed at completing a 43-101 compliant resource model for the material proximal to the past producing pits. A surface grid, and channel sampling program is being implemented on the Heaps, with the results to be incorporated into a first stage resource potential study. A program of detailed mapping, surface sampling, structural analysis, and possibly geophysical studies is advancing towards drill hole target selection in the area's to the north and northwest of the past producing pits.
