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Copper King Property
The Copper King property consists of 50 Nevgold owned unpatented lode claims in Shoshone County, Idaho. The project is situated at the the eastern end of the world-class Coeur d'Alene Silver Mining District, and at the south end of the Revett Silver-Copper Belt. At nearly 1.2 billion pounds of historic silver production, the Coeur d' Alene District is the largest documented silver producing region in the world. In addition, the known bedded silver-copper resources in the adjacent Revett Belt, amount to well over 500 million ounces of silver and 4 billion pounds of past copper production or current resources.
Copper King is a strategically positioned property surrounded by a large patented claim block primarily controlled by Hecla Mining. Hecla's claims include their Lucky Friday-Gold Hunter underground silver mining complex with past production of over 140 million ounces of silver. Overall, past production in the Copper King property area amounts to over 340 million ounces of silver with a significant zinc-lead credit.
The Revett Silver-Copper Belt is a north-south corridor nearly 100 kilometers long that hosts disseminated, stratabound, silver rich, copper sulfide deposits within the Proterozoic Revett Formation. There are numerous prospects of bedded copper-silver mineralization in the Belt, with some of the better grade mineralization located adjacent to, and on strike with, the Copper King Property. Some of these deposits are relatively high grade (1 to 3% copper and 3 to 6 oz/ton silver) and were historic producers (i.e., Snowstorm and National Mines).
The Silver-Copper Belt in Montana hosts world-class resources at the Spar Lake, Rock Creek, Montanore and Troy projects. Nevgold management believes that the Copper King project represents one of the best untested target areas for the bedded copper-silver style of mineralization, and unlike the deposits in Montana, is situated in an active mining district with over 130 years of mining history and infrastructure.
The historic Mammoth, Champion, Military Gulch and Sonora Gulch copper-silver prospects occur within the Copper King property limits. The Military Gulch area was sampled, mapped and drilled (two holes) for stratabound copper-silver in 1980 through 1982 by U.S. Borax. Borax's work proved the presence of bedded copper-silver mineralization immediately down dip from mineralization exposed in Military Gulch. This bedded copper-silver mineralization projects at depth onto the Nevgold claims to the north and west, and provides a compelling concealed target concept that has never been tested. The historic Copper King # 1 and #2 mines are located near the south boundary of the property on adjacent patented claims. Vein-type copper-silver occurrences at the Mammoth, Champion and Copper King workings are interpreted to be favorable indicators of leakage from subjacent bedded mineralization.
Nevgold has identified three target areas for drill testing. The drilling will target the highly favorable Revett host formation at depth beneath the overlying Wallace and St. Regis formations in an area that has never been tested.
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