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Vancouver, British Columbia – We, the owners of the "King Midas No. 1 Vein" past producer with 156 g/t gold from 1 tonne, are interested in developing a partnership with a public mining company whose management are experienced in taking developed gold properties into production.
The King Midas No. 1 Vein is a developed gold property located in mining-friendly British Columbia, Canada, on the western side of the north fork of the Zeballos River, approximately 140 metres south of Fault Creek and 3 metres above the Zeballos River level.
The vein is hosted by silicified andesite and consists of lenses of quartz with sphalerite, arsenopyrite and pyrite with minor chalcopyrite, galena, pyrrhotite and native gold mineralization following a somewhat wider shear zone. The gold was found to be associated with sphalerite and chalcopyrite and is also present as free gold. The vein strikes 354 degrees with a vertical dip and has been traced for 80 metres.
A parallel vein is reported 244 metres up Fault Creek. Other veins are reported to be exposed in the riverbed approximately 40 metres downstream of the downstream adit.
Historical Highlights Include:
- A sample assayed 97.38 grams per tonne gold and 28.11 grams per tonne silver.
- The Tunnel vein was reported to average 8.8 centimetres wide with 70.5 grams per tonne gold.
- One tonne of high-grade ore produced 156 grams of gold, 31 grams of silver and 10 kilograms of copper.
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