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Claim Group Summary:
Silver Reserve Corp., a wholly owned subsidiary of Infrastructure Materials Corp., holds 13 precious metals projects in the State of Nevada for a total of 667 claims (645 lode claims and 22 patented claims).
We initially evaluate the mineral potential of our projects through research, review of historical literature, mapping and sampling. Then a decision is made whether drilling is warranted to verify findings generated by the surface previous work.
In October 2012 the Company completed a 7,500+ foot drill program on its Kope Scheelite Project to further delineate gold, silver and copper and conductive anomalies identified during previous mapping and sampling and during Time Domain Electro-Magnetic ("TDEM") surveys conducted in spring 2012. A review of the assay and geochemical data from that drill program indicates a new copper-gold discovery at the Kope Scheelite Project (see below and our press release dated January 16, 2013 ).
Silver Reserve Corp. also owns a custom mill approximately 185 miles south east of Reno, Nevada. The mill is currently idle but has operated under various configurations to meet specific requirements of prior operators. The mill is nominally designed to process 200 tons of ore per day.
Below is a brief review of the Company’s precious metals projects and mill.
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In January 2013 the Company announced a new copper-gold discovery at its Kope Scheelite Project. (See our press release dated January 16, 2013.) The Company completed a comprehensive review of assay and geochemical data from reverse circulation drilling on the Project to assess the potential of gold, copper, silver, zinc and lead mineralization on the Project from previous surface work and historical data packages.
Geologic mapping completed in 2007 indicated strong NW/SE bearing mineralized trends running across the property. Additional detailed mapping and sampling verified strong gold, silver and copper mineralization along NW/SE bearing structures. Time Domain Electro-Magnetic (“TDEM”) surveys conducted in spring 2012 offered further evidence of the presence of conductive structures on the Project with potential mineralization present within an intrusive porphyry.
During September and October 2012 the Company conducted 7,578 feet of drilling in 19 reverse circulation holes on the Project. Holes were located to test various geological, geochemical and geophysical targets identified by the Company from the previous work. The drilling identified substantial zones of sulfide- and oxide-copper mineralization in intrusive porphyry, and gold mineralization in the gossans/skarns in the Luning Formation carbonate units as well as low-grade gold in the porphyritic unit located northeast of the Clay Peters pit.
These results have presented the Company with multiple target areas. Phase II drilling will conduct both step out and infill drilling to more clearly define these zones. The Mag grid will be extended to the south in late January 2013 to identify potential new target areas. This geophysical work should lead to a better understanding of the area. We anticipate that Phase II drilling will start in late spring 2013.
The Kope Scheelite Project consists of 167 mineral claims located in Mineral County, Nevada, approximately 11 miles north east of Mina, Nevada. The elevations on the claim area range from 6,800 feet to 7,000 feet. The Kope Scheelite claims are located on the southernmost part of the Gabbs Valley Range in the Walker Lane, a structural belt which hosts several significant deposits. The workings on the Project consist of numerous shafts and prospects.
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The Pansy Lee Claim Group consists of 30 mineral claims located in Humboldt County, Nevada, approximately eight miles northwest of Winnemucca, Nevada.
The Pansy Lee claims are accessible by road from Winnemucca, Nevada. A graded dirt road runs northwesterly for a distance of 12 miles to the property which lies at elevations ranging from 4600 feet to 5200 feet.
A substantial amount of underground work has been done on the Pansy Lee Claims, as much as 910 feet below surface with over 6000 feet of horizontal tunneling on several levels. A mine was operated at the Pansy Lee claim site from 1937 to 1942. Further production occurred in 1964 and 1974. Work was undertaken again in 1981 and 1982. Much of our information about the Pansy Lee Claim Group was obtained from publicly available reports and articles concerning prior exploration of the site by other parties. A public report prepared in 1986, estimated that approximately 73,800 tons of average grades of 0.218 ounces gold per ton and 17.48 ounces silver per ton for recoverable ounces of 14,480 gold and 1,159,700 silver remained in the mine.
The Nevada Bureau of Mines Bulletin 59 (1964) reported the following production figures:
| Date |
Action |
Tons |
Au |
Ag |
| 1936-37 |
Shipped |
205 |
- |
- |
| 1939-40 |
Shipped |
1,677 |
- |
- |
| 1939-42 |
Milled |
39,598 |
0.134 |
11.5 |
| 1941 |
Shipped |
407 |
0.385 |
32.5 |
| Total |
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41,887 |
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Three core holes were drilled and completed to depths of 800 feet on angle below the existing workings. It appears the 'Swede' vein was encountered in all three holes. Work to date indicates the mineralized zone should extend to depth and along strike on the 2 main veins in the mine. Further drilling of these extensions is warranted.
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| Pansy Lee - Drilling on Site |
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The Quailey Mine Claim Group consists of 52 lode claims and 12 patented claims (for a total of 64 claims) located in Mineral County, Nevada approximately 16 miles southeast of Hawthorne, Nevada on the northwest side of Excelsior Mountains.
In the past the Federal government permitted private parties to obtain title to a claim known as a "patent claim" if certain conditions were met. Patents for claims are no longer issued. Staked claims are created by physically inserting a stake in the ground at each corner of the claim and filing the location of the claim as so demarcated with a government BLM recording office.
The Quailey Mine claims are accessible from the city of Hawthorne, Nevada. A number of dirt roads provide accesses to the main workings of the former mine. Most of the information for the Quailey Mine Project was obtained from a 1975 report by J. McLaren Forbes. The early work on the property was done in 1882 when copper ores with silver and gold values were mined and smelted on the property. Later, between 1907 and 1914, Excelsior Enterprises Inc. was active on the property. Just prior to this activity, a number of the claims were surveyed and patented. During the period 1975-76 the mine was rehabilitated. This work was done by Ladd Enterprises Inc, of Reno, Nevada. This property appears to be a skarn type deposit. A "skarn" is a metamorphic zone developed in the contact area around igneous rock intrusions when carbonate sedimentary rocks are invaded by and replaced with chemical elements that original from the igneous rock mass nearby. Many skarns also include ore minerals.
Historical records indicate copper, gold and silver ores were mined from 4000 feet of developed mine workings.
During the year 2007 the Company filed a quiet title suit and received clear title to al 10 patented claims.
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The Santa Fe Claim Group consists of 23 claims located in Mineral County, Nevada, approximately one mile north of Luning, Nevada. The Santa Fe claims are accessible from the town of Luning, Nevada. The Santa Fe district is located in the Gabbs Valley Range northeast of Luning. The Santa Fe property was first located in 1879 and has produced silver and lead, according to public records. Workings consist of a 300 ft incline and several hundred feet of tunnels on different levels. Significant silver and gold values have been obtained from sampling on the vein systems warranting further exploration. The property was mapped in late 2007 and a follow up grid sampling program will be developed to define drill targets.
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| Corona Mine |
Farther back Corona pit |
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The Red Rock Mill consists of six mill sites located at the town of Mina, Nevada, approximately 185 miles south east of Reno, Nevada on US 95. The mill has operated under various configurations to meet specific requirements of prior operators. Ore from various sources has been custom milled and processed for the production of concentrate or "doré" bars. "Dore" bars are bars of precious metal, in this case silver and gold, poured from molten material recovered in the final processing of the mill.
The mill is nominally designed to process 200 tons of ore per day. Depending on the ore hardness, the crushing circuit will be able to process up to about 250 tons of ore per day. The flotation and leach sections are also capable of running at the 200 tons per day rate. However, other areas of the processing section do not appear to have sufficient capacity to sustain the mill's nominal design rate and some additions may be required.
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The Dyer Claim Group consists of eight mineral claims located in Esmeralda County, Nevada, approximately five miles east of the town of Dyer, Nevada on Highway 3A. The Dyer group of claims are accessible from the town of Dyer, Esmeralda County. The property lies at elevations ranging from 4,800 feet to 5,600 feet. The Dyer district consists of several prospects and a few small mines. The deposits consist of black copper-silver sulfide in quartz veins in crushed and decomposed limestone. Surface oxidation has led to the formation of copper carbonate, iron oxide and silver chloride. Mineralization consists of copper-gold sulfides in quartz veins within limestone country rocks.
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The Silver Queen Claim Group consists of 178 mineral claims located in Esmeralda County, Nevada, approximately nine miles west of Silver Peak, Nevada on Highway 47.
The claims lie at elevations ranging from 7,800 feet to 9,012 feet and are located in the Red Mountain District. The Silver Queen Claim Group covers a northwest trending group of silver deposits that include the Silver Queen and Mohawk mines. The deposits located in the Red Mountain district were first discovered in 1907. In 1920 a producing mine was constructed and production continued through the late 1950's. Based upon publicly available records, the ore produced from this mine averaged 20-25 ounces of silver per ton.
Based upon public records, there may be as much as 52,167 tons of probably and possible mineralized material grading an average of 13.4 ounces per ton of silver (699,000 ounces silver) remains unmined in the mine workings. The report estimates extraction, after mining losses, there may be as much as 40,071 tons of probably and possible mineralized material grading 13.3 ounces per ton silver (532,900 ounces silver). The Company believes there is good potential for finding additional tons of mineralized material. Four major exploration targets with good potential within the claim group and separate from the Mohawk vein occurrence are documented in the public records.
Recent work by the Company has traced the vein structures in the Mohawk Mine to the Silver Queen mine, for a total of 1.8 miles offering large exploration potential for this project.
Surface exploration has also identified a large silver/lead/zinc anomaly 1000 feet long and 600 feet wide away from the vein structures encompassing the known mines on the property that appears to have had very little previous exploration.
A limited drill program was completed on this new surface anomalies discovered during grid sampling. Four reverse circulation holes were drilled to depth of 400 to 500 feet vertically. Further surface sampling indicates that the anomaly is much larger than initially indicated and further drilling to the west is warranted on what appears to be a new and separate vein structure.
Mason Douglas at Hole 1 of Silver Queen Drillings
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The Gold Point Claim Group consists of 8 mineral claims located in Nye County in the Gold Point District, about 10 miles north east of Current, Nevada.
Mineralization from 0.5 to 10 ppm gold was noted in shaley rocks adjacent to substantial jasperoids on the property. The "jasperoids" found in Nevada are hard, dense purple-black rocks with considerable content of pyrite.
Jasperoid (Silica Replaced Jasperoid) gold bearing - GP Group
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The Weepah Hills claims are located in Esmeralda County, Nevada, approximately 15.5 miles southwest of Tonopah, Nevada on Highway 95. After the initial examination of this claim group, the Company decided further work was not warranted and all but one claim covering the old workings were allowed to lapse. There are mine workings and a large head frame on the claim which was operated in the early 1960's, according to public records.
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The Klondyke Claim Group consists of 134 mineral claims located in Esmeralda County, Nevada. The Klondyke Claim Group is accessible by road from Tonopah, Nevada. The property lies at elevations ranging from 5,400 feet to 5,908 feet.
The Klondyke district, which was discovered in 1899, lies about 10 miles south of Tonopah, Nevada. Most of the deposits occur in veins within limestone carrying both silver and gold. Production up to 1960 was 2,758 tons, according to public records. The claim area hosts numerous prospects and mine shafts. The property geology was mapped at a scale of 1:12000 in 2007 and 5 separate sample grids were laid out and sampled to cover what appeared to be anomalous zones outlined during the mapping program. A limited drill program has been proposed but not submitted to the BLM to follow up surface and geologic anomalies.
Mapping and grid sampling to date indicate strong NE/SW bearing anomalous zones to the south of the old mine working where the structure runs NW/SE. Surface sampling in this zone carried grades as high as 42.3 oz silver and 0.1 oz gold per ton.
Grid sampling has identified a large gold-only anomalous zone in the southern portion of the property. A trenching program is recommended.
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| Old shaft |
Grab sample from shaft dump |
Adit |
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| Mineralized quartz |
Adit |
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The Montezuma Claim Group consists of five mineral claims located in Esmeralda County, Nevada approximately 5.5 miles west of the town of Goldfield, Nevada on Highway 95. The property lies at elevations ranging from 6400 feet to 6895 feet. The Montezuma District consists of a number of prospects, some shafts and tunnels and one small mine. Based upon publicly available records, the district is predominantly a silver-lead district although small amounts of copper, gold and bismuth were found in some of the producers. The deposits consist of quartz veins in limestone and shale and also replacements in limestone. Mapping done in the spring of 2008 indicates the property lies on the southern edge of a caldera, warranting further exploration work. A "caldera" is cauldron-like volcanic feature formed by the collapse of land following a volcanic eruption. Some calderas are known to support rich mineralogy.
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| NL Extension Project Claim Group |
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The Sylvania Claim Group consists of two mineral claims located in Esmeralda County, Nevada. The Sylvania claims are accessible from the town of Lida, Nevada. The property lies at elevations ranging from 7,320 feet to 7,800 feet.
The Sylvania District consists of a number of prospects, the Sylvania Mine and three small open pit mines. Production has occurred in the past and a steel head frame in good condition remains on the property. Based upon publicly available records, the deposits occur in a mile-wide northwest-trending belt or zone. Based upon publicly available records, the deposits are mainly silver-lead but some gold and tungsten also occurs. Most of the silver-lead deposits are veins in limestone. The Company held a larger group of claims at this location but felt that further work was not warranted and allowed all but two claims covering the old workings to lapse.
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The Blue Dick Claim Group consists of 19 mineral claims located in Esmeralda County, Nevada, approximately 2.5 miles west of the town of Lida, Nevada on Highway 3.
The claims lie at elevations ranging from 6920 feet 8440 feet. The Blue Dick claims are located in the SE part of the Palmetto District. Production occurred prior to 1960 and the deposits contained silver, gold and lead and occur in veins, according to public records. Most of these veins trend west or northwest. The claim area contains numerous prospects, adits, shafts and two small open pit mines. The Blue Dick mine, has two shafts and two adits but no data is available.
Geologic mapping and sampling indicates complex thrust faulting traced from the historic underground mine workings along strike for a length of at least 3000 feet. Rock chip sampling underground carried grades of gold 1.3 opt and silver 69 opt.
Geochemical anomalies have also been located south of the mine workings and grid samples have provided an additional target area. Surface rock chip sampling yielded values up to 25% copper, 1.30 opt gold, 68 opt silver and 7 % lead. There are 5 drill targets currently identified on the property.
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*A Subsidiary of Infrastructure Materials Corp.
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