About the Silver Strike Project
Tarku’s Silver Strike Project is located in Cochise County, Arizona, in the famous Tombstone Mining District, one of the earliest silver mining areas in the western United States that start producing numerous silver mines in 1877. Despite the attractive quantity of silver found in the district, the low metal prices of the 1915’s (below 1 USD/oz), financial panic, and the removal of the United States currency from the silver standard (since the 1900s), technical inability to deal with underground waters, and bandits caused this area to be overlooked.
The area is very rich in silver and other base metals ore and it has never been explored in modern times with a “big picture” view and utilizing a thorough systematic approach. More than 95% of the production is from the surface to 200m and is primarily from oxide ore minerals. Discovery potential is huge.
The 2021 drill program at Silver Strike in addition to silver revealed the presence of gold, lead, and zinc at high grades suggesting similarities in terms of geological context to the nearby Hermosa project which in 2018 was purchased by South32 for $1.8 billion.
Silver Strike Project Overview
|LOCATION||Tombstone mining district Cochise County, Arizona|
|OWNERSHIP||Earn-In interest for up to 75% over 3 years|
|LAND POSITION||1250 hectares|
East Side: 216 g/t silver equivalent (AgEq) or 214 g/t silver over 3 m,
Location Map positioning the Silver Strike projects and other major mining projects as the Hermosa project in South Arizona – News Release August 10th, 2021 (click on the map to enlarge).
Tombstone Mining district was one of the earliest silver mining areas in western United States that start producing numerous silver mines in 1877. Despite the attractive quantity of silver found in the district, the low metal prices of the 1915’s (below 1 USD/oz), financial panic, and the removal of the United States currency from the silver standard (since the 1900s), technical inability to deal with underground waters, and bandits caused this area to be overlooked.
Limited sporadic production in the area was recorded at different periods stimulated by a higher gold price. During World War II, studies were done for manganese deposits in the district in relation to the war effort. Exploration work in late 1950 revealed presence of lead and zinc. in 1965, limited drilling was completed probing for porphyry-copper-type model recovering alteration zones in the vicinity of breccia pipes and extensive but low-grade mineralization.
Between 1980 to 1985, rising silver price made Tombstone Exploration Inc. operate in a geological lower grade environment an open pit mine on the Contention structure and produced up to 3,000 tons per day of ore averaging in the range of 1.25 oz/t Ag and 0.6 g/t Au. No exploration drilling was ever conducted, and no ore reserves of significance were measured ahead of mining.
The area is characterized by mountain building episodes and sedimentation (mountain erosion) intruded by numerous granites. Locally most of the sediments are related to the Bisbee formation. Older rocks are unconformably overlying the Tombstones hills by tick sequences of sediments which are excellent host mineralization as they chemical and resistant characteristics make them break easily under tectonics stress and provide pathways for veins and mineralization. The principal production from the Tombstone mining district has been from high grade veins associated with those fractures.
Although Tombstone has primarily been a silver camp, substantial gold and lead, and subordinate copper, zinc, and manganese have also been produced. The silver to gold ratio for documented production between 1877 and 1937 is 126 to 1 and production has come mainly from mineralized vein fractures cutting folded sediments. Ninety-five percent or more of the production is from the surface to 200 m and is primarily from oxide ore minerals.
More recent publications and data compilation concluded that the volcanic geology and structure in the Tombstone area is related to a district-scale Laramide caldera. Mineralization in the district is also related to the caldera and attendant hydrothermal fluid migration. These districts are typically zoned from silver-rich peripheries to higher base-metal and gold contents near to the intrusions. Copper-gold mineralization occurs in intrusion-hosted stockworks or skans.
In the early 70’s, the American Smelting & Refining Company (ASARCO) obtained a lease on the Horne claims around the Robbers' Roost breccia pipe. They drilled three holes to a maximum depth of 1700m (5,000 ft) on a porphyry copper alteration zone in the vicinity of the breccia pipes. These holes intersected extensive but low-grade mineralization, grading vertically downward from a lead-zinc phase of mineralization into porphyry copper type mineralization, including disseminated pyrite, chalcopyrite, and molybdenite, as well as secondary K-feldspar and purple anhydrite. Poor copper prices at the time and since have discouraged further exploration for copper at this depth.
Tarku’s first drill program on the Silver Strike project was completed on May 28, 2021. The program totaling 8,921 feet aimed to test the potential of high-grade silver in 5 different zones.
Tarku’s first comprehensive drill program on the Silver Strike project was completed on May 28, 2021. The drill program confirmed the presence of several high-grade silver veins and structures along with copper, lead and zinc. The results additionally demonstrated the presence of a possible Carbonate Replacement Deposit (“CRD”) System, similar to the nearby Hermosa project in Arizona.
This drill program consisted of 23 Reverse Circulation (“RC”) drill holes totaling 8,921 feet aimed to test the potential of high-grade silver in 5 different zones. These zones are within vicinity of past mines, including two key targets at the Lucky Cuss mine and Bunker Hill mine, as well as the extension potential up to 4km to the South-West.
Best Assay results for these drill holes are summarized in the table below:
Table 1: Drill Hole Best Assay Results updated as of this date – News Release August 10th, 2021.
|Hole #||Target||From (m)||To (m)||Width (2) (m)||Ag(g/t)||Au(g/t)||Cu(%)||Pb(%)||Zn(%)||Ag Eq (1)(g/t)||Pb+Zn Comb.(%)||Mn(%)|
|SS21-013||Ground Hog||No significant results|
|SS21-014||Ground Hog||No significant results|
|SS21-017||Ground Hog||No significant results|
|SS21-018||West Rattlesnake||Abandoned hole|
|SS21-019||West Rattlesnake||No significant results|
|SS21-020||Ace in the Hole||95,0||120,0||25,0||9||0,09||0,00||0,10||0,31||28||0,41||0,65|
|SS21-021||Ace in the Hole||44,2||47,2||3,0||11||0,00||0,00||0,05||0,47||27||0,53||0,63|
- Ag Equivalent (AgEq): Only samples with over 5g/t Ag and over 0.05g/t Au were used - Prices of $24/oz silver, $1,800/oz gold (ratio Au:Ag = 65:1), $4.00/lb copper (ratio Cu:Ag = 0.01:1), $0.90/lb lead (ratio Pb:Ag = 0.002:1) and $1.20/lb zinc (ratio Zn:Ag = 0.003:1) were used for equivalent calculations. 100% recoveries have been considered as no metallurgical study has been made yet.
- Intervals shown are drill intercept, true thickness cannot be calculated yet.
The next phase of exploration at Silver Strike
- Phase 2 will encompass Geophysical and Geochemical regional surveys to prepare for an expanded core drilling program on priority targets (Phase 3).
- Geophysical survey: TDEM (Time-Domain EM), measuring at least 2 types of physical phenomena : Electromagnetic (EM) induction, which will be used to map Conductivity, and Induced polarization (IP) that could provide data on chargeability. Potential mineralized target will appear.
- Geochemical and sampling survey : bedrock is outcropping regularly, and mineralization is known to be close from surface. Extensive and homogeneous soil and rock sampling will return a map showing alterations and mineralization halos.
- Phase 3 will include Core drilling on targets determined to be most promising within Phase 2.
- Phase 4 will be the preparation of a Technical report (compliant with National Instrument 43-101) and Silver Strike’s initial resource estimate.