USMX lands option on Ophir district

The Alaskan Department of Natural Resources has granted USMX (USMX-Q) the exclusive right to explore the Ophir mining district in the west-central region of the state.

Historically, placer deposits in the 13,380-acre district have produced more than 600,000 oz. gold. There has been virtually no exploration for lode occurrences.

Dennis Lance, vice-president of exploration for USMX, says field work is expected to begin in early August in an attempt to define trenching and drilling targets for the 1997 season.

The Ophir lies along a northeastern trend of intrusive centres, which host Placer Dome’s Donlin Creek gold deposit.

Gold mineralization in the district is disseminated with sulphides and also exists in stockwork veining associated with granite porphyry dykes.

Meanwhile, at the company’s Illinois Creek project, 75 miles to the northwest, mine development is proceeding at a rapid pace.

The mine is expected to produce more than 20,000 oz. gold in 1996, with the first gold pour planned for September. Annual production in ensuing years is projected at 60,000 oz.

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