Projects

Middlegate

Location Map

Overview:

The Middlegate Project is located approximately 85 km (53 miles) east of Fallon, in Churchill County, Nevada and approximately 8 km (5 miles) south of Middlegate Junction at the intersection of US Highway 50 and Nevada State Highway 361. The Middlegate property consists of 46 lode claims (approximately 3.6 square km or 1.4 square miles). It is well situated, approximately 48 km (30 miles) north of the historic mine of Paradise Peak which from 1986 through to 1994, produced over 1.6 million ounces of gold and 24 million ounces of silver whilst being operated by Meridian Gold and approximately 32 km (20 miles) northeast of the Denton-Rawhide mine which was operated by Kennecott Minerals, who produced over 1.1 million ounces of gold and 9 million ounces of silver from 1990 to 2002.

The initial Phase I drill program of 8 R-C holes at the Middlegate Property was completed June 10, 2008, with a total of 2,530 meters (8,305 feet) drilled. Assay results from the drill program are tabulated below. Follow-up drilling has been recommended to offset the anomalous gold and silver discovered in the original drilling. Additionally, a 1,000 X 2,000 meter (3,600 X 6,560 foot) soil geochemical survey was completed in the fall of 2007. Anomalies from this survey, together with prior geophysical surveys indicate several drill targets in addition to those required for follow up after the 2008 campaign. These additional drill targets have yet to be tested. Terraco is permitted for additional drilling at Middlegate.


Geological:

Based upon initial observations, Middlegate alteration and mineralization suggest the upper reaches of a caldera-related, low-sulfidation, epithermal style of precious metals mineralization. Anomalous gold and silver mineralization and associated alteration are noted to occur at a very high level, at or near paleo-surface. Targets at the Middlegate Property include volcanic-hosted, epithermal stockwork, breccia, and/or vein gold-silver deposits.

Exploration:

Exploration work at Middlegate began in August 2007. The initial program consisted of structural mapping and rock sampling during the late summer and early fall of 2007. That program included a total of 116 samples. Results were positive, with assays returned of up to 9.19 grams per tonne (gpt) or 0.268 Troy ounces per ton (opt) gold and 114 gpt or 3.325 opt silver.

In the spring of 2008, TGC conducted a soil sampling program in two stages. The first stage consisted of 216 samples (with blanks and standards) including an orientation survey and modified 50 meter grid surrounding the primary area of known precious metals mineralization, approximately 600 x 600 meters. Later in the spring, a second phase of soil sampling extended the survey by 500 meters east and 1,400 meters south. The total number of samples for both surveys (including blanks, standards, and duplicates) amounted to 641.

In May and June of 2008, TGC contracted Eklund Drilling, of Elko, Nevada, to drill eight reverse circulation holes ranging in depth from 150 to 440 meters (500 to 1,445 feet) deep. The total footage drilled amounted to 8,305 feet. Assay results from the program are mixed, although none of the five foot drill samples from the program returned values higher than 1.0 gpt/0.029 opt gold. The highest single five foot interval gold assay was from drill hole MD-05 at 295 meters (m); it ran 0.952 gpt (0.028 opt) gold. The highest silver assay returned from MD-02 at 134 m (440 feet), with 1.5 m of 25 gpt (0.73 opt) silver. Screen fire assays of 80 selected drill samples suggest the presence of coarse gold in drill cuttings. These results echoed the presence of coarse gold found at surface in the small pit on the Thunder claim. Plans for future work include an expansion of the soil survey and additional drilling, both rotary reverse circulation and core.


Summary of Drill Hole Intercepts

Hole ID

Interval ft

From ft

To
ft

Gold opt

Interval m

Gold g/T

Interval ft

From
ft

To
ft

Silver opt

Interval m

Silver g/T

MD-01

25

35

60

0.012

7.6

0.425

 

 

 

 

 

 

including

10

50

60

0.020

3.0

0.698

 

 

 

 

 

 

 

 

 

 

 

 

 

5

125

130

0.10

1.5

3.5

 

45

170

215

0.007

13.7

0.251

 

 

 

 

 

 

including

15

170

185

0.010

4.6

0.349

 

 

 

 

 

 

and

5

210

215

0.013

1.5

0.436

 

 

 

 

 

 

 

5

240

245

0.011

1.5

0.384

 

 

 

 

 

 

 

 

 

 

 

 

 

5

665

660

0.34

1.5

11.8

 

 

 

 

 

 

 

5

670

675

0.10

1.5

3.5

 

 

 

 

 

 

 

5

720

725

0.16

1.5

5.6

 

 

 

 

 

 

 

5

745

750

0.33

1.5

11.8

 

 

 

 

 

 

 

5

780

785

0.20

1.5

6.8

 

 

 

 

 

 

 

5

830

835

0.22

1.5

7.4

 

 

 

 

 

 

 

5

845

850

0.20

1.5

6.1

 

 

 

 

 

 

 

 

 

 

 

 

 

MD-02

 

 

 

N.S.I.

 

 

5

435

440

0.73

1.5

25.0

 

 

 

 

 

 

 

5

525

530

0.11

1.5

3.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MD-03

10

0

10

0.010

3.0

0.329

 

 

 

N.S.I.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MD-04

 

 

 

N.S.I.

 

 

 

 

 

N.S.I.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MD-05

10

0

10

0.008

3.0

0.269

 

 

 

N.S.I.

 

 

 

10

960

970

0.018

3.0

0.606

 

 

 

 

 

 

including

5

965

970

0.028

1.5

0.952

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MD-06

 

 

 

N.S.I.

 

 

 

 

 

N.S.I.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MD-07

 

 

 

 

 

 

5

140

145

0.13

1.5

4.4

 

 

 

 

 

 

 

5

185

190

0.11

1.5

3.7

 

5

315

320

0.015

1.5

0.522

5

315

320

0.15

1.5

5.0

 

 

 

 

 

 

 

 

 

 

 

 

 

MD-08

5

0

5

0.008

1.5

0.290

 

 

 

N.S.I.

 

 

 

5

145

150

0.010

1.5

0.336

 

 

 

 

 

 


1 Information disclosed on Meridian Gold Inc. website: http://www.meridiangold.com/operations_past.cfm

2 Information disclosed on Kennecott Minerals Company website: http://kennecottminerals.com/mines/rawhide.html  
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