Hello kidl
This out on the wire this A.M.
Mill City proceeding with exploration on Pony Creek property
Tuesday December 9, 11:46 am ET
CALGARY, Dec. 9 /CNW/ - MILL CITY INTERNATIONAL CORPORATION ("MILL CITY") (TSX-VEN:MC) is pleased to announce that it is proceeding with exploration on its Pony Creek property in north central Nevada. With the recent financing completed the Company can now go forward with permit application preparation. The approval process will take approximately 2 months following which the Company will commence its Phase 1 drilling program.
The Pony Creek property is comprised of 224 claims (approx. 1900 hectares) and is located in the southwest corner of Elko County, about 30 miles south of the town of Carlin and along the crest of the Pinon Range. The property is within the southern Carlin Trend and about 20 miles south of the deposits at Rain. It covers a portion of the Pinon graben, a regionally extensive structural feature that trends north-south for at least 20 miles and hosts several major gold deposits. The deposits associated with the graben are reported to contain more than 5 million ounces of gold. From north to south these are the Saddle, Rain, Emigrant Springs, Bullion, Dark Star, Trout Creek and Dixie Creek deposits.
The graben at Pony Creek is more than a mile wide and bounded by a series of north-south trending structures. Northwest trending cross structures are also prominent within and on the margins of the graben. Tertiary felsic to mafic intrusives have been emplaced along the structural zones.
The most prominent feature at Pony Creek is the north-south trending rhyolite porphyry which has intruded the sediments within the graben. The exposed intrusive dike-sill complex is approximately 2 miles long and 0.75 miles wide.
Previous wide spaced drilling within and around the intrusive has demonstrated gold mineralization over a very large area. Closely spaced drilling by Newmont Gold in the mid 1980's defined a resource in one small portion of the intrusive. High grade is present as demonstrated by drill hole PC-20 drilling 25 feet (440'-465') at 0.45 opt gold.
To date, the widespread gold mineralization has been demonstrated in Mississippian to Permian clastic rocks and the intrusives both within and peripheral to the graben. Excellent potential exists at Pony Creek to develop high grade along structures and especially at the Mississippian -Devonian contact. The siltstone/limestone contact, host to all of the economic deposits in the southern Carlin Trend (including the Rain open pit - 1.017 million ounces, average grade 0.066 opt gold, and the Saddle deposit - 1.475 million ounces, average grade 0.37 opt gold, Source: Nevada Bureau of Mines and Geology Bulletin 111, Page 173), has never been tested at Pony Creek.
Mill City will focus its exploration toward structurally controlled high grade primarily at this stratigraphic contact.
Regards
Vaughn |
