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Stock Quote: CSE: MGM Last: 0.07Change: -0.005 Date: 2014-04-17

Silver Bell & St. Lawrence

View the NI - 43-101 Technical Report - June 2012 on the Silver Bell - St. Lawrence Group of Mining Claims, Virginia City Mining District ("VCMD"), Madison County, Montana, USA,  John Childs, PhD. 

 

The SBSL Gold Project is owned 100% by the Company and consists of one (1) patented mining claim and twenty four (24) unpatented mining claims covering approximately 390 acres. The SBSL Gold Project is located approximately three to four miles west southwest of the town of Virginia City, Montana, in Madison County. Virginia City is approximately 50 miles south-southeast of Butte, Montana.  Year round access is available by a public road running off of paved Montana Highway 287. Electrical power extends to within approximately 2 miles of the property.

 

This holding includes two past producing  gold-silver mines, the  Silver Bell Mine and the St. Lawrence Mine.  Both mines operated in the early 1900s and the St. Lawrence was reactivated in the early 1980s. Historical production records are incomplete but available information suggests that historical production at the St. Lawrence was approximately 0.22 opt gold and 3.8 opt silver. Smelter receipts for small shipments from the St. Lawrence indicate that some ore with much higher grades was shipped. For example, a smelter receipt from October 30, 1964 states that 8.027 tons were received grading 0.76 opt gold and 20.0 opt silver. Historical production at the Silver Bell averaged approximately 0.2 opt gold and 15.1 opt silver.

 

The historical production from the VCMD is reported to be 2.6 million ounces of gold from placer mining and 170,000 ounces of gold from bedrock mining. The main source or sources of the placer gold has never been definitively established.

 

The shafts at the former Silver Bell Mine and St. Lawrence Mine are located 3,600 feet apart and were formerly held by different owners. With MGM having consolidated this ground position, the Company is now exploring to determine the relationship between the two former mines and whether the mineralized systems may be in part contiguous.

 

Initial surface work by the Company, including a geophysical survey, surface geochemical sampling and geological mapping, suggests that the vein system, while poorly exposed, may extend for as much as 4,000 feet eastward from the St. Lawrence Mine in addition to the 3,600 feet between the two former shafts. As a result, the Company staked additional claims in 2011 to cover this potential 7,600 foot strike length.

 

The potential at depth for the SBSL Project is noted in two NI 43-101 reports completed by John F. Childs, PhD, R.Geo. in which the following was stated in the interpretation/conclusions section:

 

"Based on comparisons with other vein systems in the VCMD (“Virginia City Mining District”), there appears to be adequate similarities to suggest potential for an exploitable gold and silver deposit(s) in the Silver Bell-St. Lawrence claim area. The veins in the area share simlar characteristics with many of the more prolific deposits in the VCMD, including ore mineralogy, gangue type and alteration assemblages. Multiple vein systems are an important component in many of the larger mines in the area (e.g. the U.S. Grant, Kearsarge and Marietta), with the depth of production often reaching 300 to 650 feet. The historical mining activity at the Silver Bell and St. Lawrence mines never reached deeper than 200 feet. The Van der Poel (2011) VLF-R geophysical survey indicated several targets in the immediate area of the St. Lawrence and Silver Bell mines.”

 

A more detailed geochemical sampling program is planned for 2013 to supplement the previous surface work completed by the Company. Following completion of the sampling program the NI 43-101 recommends drilling along strike and at depth.

 

 

Historic St. Lawrence Mine Inclined Headframe

 

 

Click to Enlarge

John F. Childs, PhD., Reg. Geo. is the qualified person responsible for providing the technical details contained on this property description page.   

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