Vancouver Armed with a new $1 million financing, Castleworth Ventures (WTH-V) has launched a 5,500 ft. reverse circulation drill program over the Clifford gold project some 60 km east of Tonopah, Nevada.
The junior will be targeting near-surface oxide mineralization on Clifford Hill, as well for deeper feeder zones with at least 10 holes.
Mineralization on the historic Clifford property was first developed in 1905 and worked intermittently through the late 1960s. The work includes a number of shallow shafts and cuts, along with two major shafts in excess of 200 ft deep. The main shaft is centered on the crest of a hill, which stands out above the surrounding pediment surface. The workings include a few discrete levels and many connected dog holes, chutes, raises, and stopes. The second significant shaft lies just to the northwest of the main hill and was sunk in a more traditional manner with at least one level at 200 ft. Underground grab samples returned up to 0.54 oz gold and 11.1 oz silver per ton.
The project is part of the Thunder Mountain property, which the junior picked up a half interest in 2002 from a subsidiary of Seabridge Gold (SEA-V). Castleworth can earn its stake by spending US$1.5 million and issuing 1.5 million shares over three years.
The Thunder Mountain project is on the western edge of the Hannapah mining district in the Tonopah Trend portion of the Walker Lane structural zone. The deformation zone is characterized by a series of parallel-to-subparallel northwest-trending strike-slip faults extending for several hundred kilometres; these parallel the Nevada-California border, south of Lake Tahoe.
The Tonopah trend runs east-west and is defined by low-sulphidation epithermal gold-silver districts along the major Warm Springs and Kawich-Toyaibe lineaments.
Mineralization occurs along both west-northwest and north-south structural zones and comprises quartz and quartz-carbonate vein textures indicative of the upper levels of a low-sulphidation epithermal mineral system.
In the 1960s, the property was mined, on a small scale, for gold and silver. Activity was focused on a pronounced ridge of silicified rhyolite that hosts a series of high-level epithermal veins. Sampling of the historic workings returned up to 31.8 grams gold and 4,656 grams silver per tonne.
Despite hitting the desired target, the initial results from the company’s first round of drilling returned only low-grade gold-silver values. The best intercept yielded 2.95 grams gold and 154 grams silver over 1.5 metre.Based on the disappointing values, the junior shifted focus to the nearby Clifford prospect.
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