Gold Exploration in Western USA
Vancouver based Orsa Ventures Corp. (Orsa) is a junior exploration
company focused on the acquisition of quality gold-silver-copper assets
in the western United States.
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Quartz Mountain & Angel's Camp
Overview
Orsa Ventures can earn a 100% interest in the Quartz Mountain Property and a 50% joint venture interest in the Angel's Camp Property subject to the terms and conditions disclosed in a news release dated October 24, 2011.
Quartz Mountain
The Quartz Mountain Property, consisting of 86 unpatented lode mining claims, is a volcanic-hosted, hot-spring gold deposit located in southern Oregon on the northern extension of the prolific Basin and Range Province of Nevada. Extensive gold mineralization occurs within late Miocene rhyolite porphyry domes and adjacent basaltic flows, tuffs and volcaniclastic rocks.
An April 12, 2002 National Instrument 43-101 compliant report on Quartz Mountain (the 43-101 Report) prepared by Winters, Dorsey & Company resulted in an historical resource estimate shown in Table 1.
*While the foregoing mineral resource estimate was completed in accordance with the requirements of NI 43-101 as of the date of publication, the Company cautions that an Orsa engaged qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and therefore, the historical estimate should not be relied on as actual resources or reserves.
The resource model incorporates 709 drill holes totaling 79,876 metres of drilling and the entire resource lies within the Quartz Mountain Property. Resurveying of existing drill holes and an extensive drill program will be required to confirm the resource.
Disseminated micron-sized native gold mineralization at Quartz Mountain accompanies pervasive silica flooding and quartz veining and is associated with pyrite, marcasite and stibnite or their oxidized equivalents. Mineralization has currently been identified in two zones, the Crone Hill and Quartz Butte zones. Mineralized zones measure up to 97 metres in thickness and 968 metres in diameter at Crone Hill and up to 32 metres in thickness and 323 metres in diameter at Quartz Butte.
Limited metallurgical work to date, including bottle roll tests and test columns using cyanidation techniques, indicated that recoveries in oxide material are variable. No systematic metallurgical study has been completed to define a recovery system that would provide maximum efficiency, environmental sensitivity and provide maximum utilization of the resource.
An April 12, 2002 National Instrument 43-101 compliant report on Quartz Mountain (the 43-101 Report) prepared by Winters, Dorsey & Company resulted in an historical resource estimate shown in Table 1.
Table 1: Historic Resource Estimate*
| Measured & Indicated | Inferred | |||||
|---|---|---|---|---|---|---|
| Deposit | Tonnes | Au gpt | Au ounces | Tonnes | Au gpt | Au ounces |
| Crone Hill | 47,666,000 | 0.90 | 1,378,000 | 27,098,000 | 0.63 | 551,000 |
| Quartz Butte | 10,146,000 | 0.99 | 323,000 | 17,701,000 | 0.86 | 492,000 |
| Total | 57,812,000 | 0.92 | 1,701,000 | 44,799,000 | 0.72 | 1,043,000 |
*While the foregoing mineral resource estimate was completed in accordance with the requirements of NI 43-101 as of the date of publication, the Company cautions that an Orsa engaged qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and therefore, the historical estimate should not be relied on as actual resources or reserves.
The resource model incorporates 709 drill holes totaling 79,876 metres of drilling and the entire resource lies within the Quartz Mountain Property. Resurveying of existing drill holes and an extensive drill program will be required to confirm the resource.
Disseminated micron-sized native gold mineralization at Quartz Mountain accompanies pervasive silica flooding and quartz veining and is associated with pyrite, marcasite and stibnite or their oxidized equivalents. Mineralization has currently been identified in two zones, the Crone Hill and Quartz Butte zones. Mineralized zones measure up to 97 metres in thickness and 968 metres in diameter at Crone Hill and up to 32 metres in thickness and 323 metres in diameter at Quartz Butte.
Limited metallurgical work to date, including bottle roll tests and test columns using cyanidation techniques, indicated that recoveries in oxide material are variable. No systematic metallurgical study has been completed to define a recovery system that would provide maximum efficiency, environmental sensitivity and provide maximum utilization of the resource.
Angel's Camp
The Angel's Camp Property consists of 158 unpatented lode mining claims and is contiguous with the Quartz Mountain Property. Mineralization at Angel's Camp is part of the large, district-scale epithermal mineralizing system associated with Tertiary volcanic activity. The bonanza vein system is hosted within late Miocene, rhyolite, porphyry domes and adjacent tuffs and volcaniclastic rock.
In 2004, Quincy Gold Corp. encountered bonanza gold grades in drilling at Angel's Camp which is located approximately 4 kilometres east of the Quartz Butte and Crone Hill deposits. Eight of nine holes drilled intersected epithermal veins and vein breccias and five holes returned gold assays of greater than 3.42 gpt. Multiple, moderate-to-high grade gold zones associated with banded epithermal vein and vein breccias were encountered within broad intercepts of lower, potentially bulk mineable grades within surrounding volcanic and volcaniclasticc rocks.
In 2007, Predator completed a computer modeled evaluation of all available drill data for Angel's Camp revealing a NNW trending, subvertical zone of high-grade gold intercepts approximately 61 metres in length and 10.7 to 15.2 metres in width plunging steeply to the north. In 2009, Predator completed a nine-hole drill program totaling 1,278 metres at Angel's Camp. The highest grade intercept announced was 17.11 gpt over 4.6 metres (true width not identified). The drill program confirmed the existence of bonanza-style gold mineralization within a hydrothermally altered envelope.
Angel's Camp will be operated under a joint venture agreement between Predator and SGC, with Orsa being responsible for SGC's obligations under the JV Agreement, and is required to maintain SGC's percentage interest, during the term of the option in respect of the Angel's Camp property. Under the terms of the JV Agreement, Predator is the operator on Angel's Camp.
In 2004, Quincy Gold Corp. encountered bonanza gold grades in drilling at Angel's Camp which is located approximately 4 kilometres east of the Quartz Butte and Crone Hill deposits. Eight of nine holes drilled intersected epithermal veins and vein breccias and five holes returned gold assays of greater than 3.42 gpt. Multiple, moderate-to-high grade gold zones associated with banded epithermal vein and vein breccias were encountered within broad intercepts of lower, potentially bulk mineable grades within surrounding volcanic and volcaniclasticc rocks.
In 2007, Predator completed a computer modeled evaluation of all available drill data for Angel's Camp revealing a NNW trending, subvertical zone of high-grade gold intercepts approximately 61 metres in length and 10.7 to 15.2 metres in width plunging steeply to the north. In 2009, Predator completed a nine-hole drill program totaling 1,278 metres at Angel's Camp. The highest grade intercept announced was 17.11 gpt over 4.6 metres (true width not identified). The drill program confirmed the existence of bonanza-style gold mineralization within a hydrothermally altered envelope.
Angel's Camp will be operated under a joint venture agreement between Predator and SGC, with Orsa being responsible for SGC's obligations under the JV Agreement, and is required to maintain SGC's percentage interest, during the term of the option in respect of the Angel's Camp property. Under the terms of the JV Agreement, Predator is the operator on Angel's Camp.
