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HOMANSVILLE GOLD DEPOST--Tinitc Mining District, Utah

Premium Listing

  • Deposit Type: Hard Rock
  • Commodity: Gold
  • Country: United States
  • Latitude: 39° 58' 40'' N
  • Longitude: 112° 3' 44'' W
  • Deal Type: Joint Venture
  • Conditions:
    Seeking Joint venture with underground mining company


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Summary

Map of Tintic Mining District
Discovered by USGS drilling in 1969 at the north end of East Tintic Gold Belt. Situated on 45 patented claims (650 acres). Kennecott leased the property and drilled prior to 1981. Drilling from the surface was difficult, and several holes did not reach target depth. Kennecott left Tintic in 1983. No significant exploration has been done since. Homansville remains a high grade virgin gold deposit waiting to be harvested by underground mining.


Favorable Structure

Homansville Fault Target
Homansville canyon hosts structures that have long been recognized as prime targets similar to other high grade deposits in the district. The Tintic Standard deposit was formed by hydrothermal replacement along the base of a thrust, which was a graben like subsidence zone in the Ophir (limestone/shale) formation. The Homansville fault, hosts structures, similar to the Tintic Standard. The Ophir formation is the most productive gold bearing rock formation in the entire basin and range. Drill Hole ET-148, known as the Homansville gold hole, intercepted a mineralized zone in the Ophir shale and Tintic quartzite. Results of ET-148, were reported as follows:
1132-1134 - - - - -1.147 ounces gold per ton (opt);
1134-1136- - - - - 1.008
1136-1138- - - - - 0.258
1138-1141- - - - - 1.147
1141-1145- - - - - 0.247
1145-1149- - - - - 0.316
The entire interval between 1,132 and 1,187 feet intersected 55 feet of gold mineralization that averaged about 1/3 ounce per ton (opt) gold. The core recovery was poor, particularly through the most mineralized zones. This suggests that the actual gold grade in the deposit may be higher than was reported.
An additional, Drill Hole ET-132, struck a gold mineralized intercept over 500 feet away, results reported as follows

1124-1135- - - - - trace of gold ave. of 5 opt Ag
1139-1164- - - - - 0.19 opt Au
1164-1194- - - - - 0.073 opt Au
1139-1184- - - - - 0.15 opt Au


Prior Drilling

Homansville E-W cross sections showing drill holes
Several holes drilled by Kennecott, encountered narrow zones of gold mineralization greater than 0.5 opt gold. All the holes to date have been drilled from the surface. The depth to the gold mineralization is typically 1000 to 1200 feet.
The core from drill holes ET-148 and ET132 was re-logged in 1980. It was found that instead of splitting the core, it had been “chunked.” Which means the geologists that first sampled the core (which partly consisted of broken pieces of mineralized quartzite) had simply taken pieces from the core box that appeared typical. A more acceptable procedure would have been to split the available core. These “chunked samples were sent to the Kennecott laboratory for analyses in 1973. Driller’s notes confirmed that core recovery was poor. There frequently was no core recovery for many tens of feet, in the highest grade mineralized parts of the holes.
Drilling at Homansville was very difficult, with generally poor core recovery. Offset drill holes attemping to test high grade gold zones, generally had poor drilling success. Many of the offset holes were lost in “bad ground” before reaching target depth.
Kennecott geologists (personal communication) became convinced that diamond drilling from the surface was not likely to generate reliable data at reasonable cost. “Drilling is for geology, drifting is for ore.” Kennecott management determined the best approach was to explore from underground by running drifts from an existing shaft and building drill stations from which to carry out underground diamond drilling.

geologic structures

Geologic structure highlights
The Area between the Homansville fault and the Canyon fault, is cut by thrust faulting that can be seen south of the Canyon fault. These structures remain untested towards known gold mineralization on the homansville fault.

HOMANSVILLE IS A HIGH GRADE GOLD DISCOVERY

Copper Leaf Shaft Looking NW
Discovery of significant gold mineralization in “favorable rock and structural settings” in a district with 15 Billion $ past production, including 3 million ounces of gold and 300 million ounces of silver is exciting. No significant exploration has been done for the past 30 years, primarily because of property unavailability. Keystone completed acquisition of the 45 patented claims only recently. Geologists are now more knowledgeable than 30 years ago. Geophysics has advanced, as has drilling technology.
The near-by Copper Leaf shaft is in strong rocks, and open to 1000 ft. High speed drills can occupy drill stations underground, and define gold zones at a fraction of the cost of drilling from the surface. The highly profitable historic North Lily and Tintic Standard mines are only 4000 and 8000 feet to the south—in the same rock units and structures. The 1200 level at the Copper Leaf (original shaft bottom) is 400 feet above the water table. There is extensive drifting from various shaft levels. The Copper Leaf was sunk in 1921 and is open (except for the bottom 200 feet--now filled with debris). Known ore zones are above the water table.
Hal Morris, the senior USGS geologist credited with the original discovery at Homansville, claimed it contains at least 1 million ounces of gold. Maybe he was right! Where else can a prospect of this quality be found in a stable political environment, and in an established mining district? In Utah—once you own an ore deposit—you can mine, and the government will not confiscate, or cancel mine permits. The 650 acres owned in fee simple (no royalties outstanding) by Keystone, are entirely on patented lode mining claims. Electrical power, water, highway and railroad loading facilities are nearby. Opportunity for a new and profitable gold mine just does not get better than Homansville. COME TO EUREKA AND MAKE A MINE.

Utah Gold Belt

Utah Gold Belt
The Utah Gold Belt is located one mountain range west of the Wasatch fault. This is a belt of mineralized intrusive rocks that 90% of the gold produced in Utah came from. This belt includes the massive porphyry copper of Bingham Canyon, the disseminated gold deposit of Mercur, and the Tintic Mining district. The Homansville gold deposit is located along this trend.
When put into production, the Homansville gold deposit could become profitable within two years. Rehabilitation of the Copper Leaf Shaft and underground exploration could reach ore within one year. With ore containing 1/2 oz/ton gold, a working profit could be achieved with the first 20,000 tons of production.

Questions Remain

East Tintic Gold Zone Comparable Mines
The questions remains “WHY” the Homansville gold deposit, discovered one half century ago has not been mined. Keystone staff members have worked at Tintic since Hal Morris (of the USGS) drilled the first discovery hole in 1969. Subsequent to the initial discovery, Kennecott drilled a number of holes from the surface. About ½ were lost in bad ground and by utilization of now antiquated drilling technology.
The end of active exploration came in 1981 when Kennecott decided to refurbish the badly flawed “Water Lily” shaft instead of the much closer “Copper Leaf”. This choice was based on work commitments with former land-owners rather than geology and engineering. Kennecott intended to explore using underground diamond drilling. The “Water Lily” shaft collapsed between shifts when all miners were at the surface. Had that not been the case, more than a dozen miners would have lost their lives. It is generally believed that incident was a major factor in Kennecott divesting all their Tintic assets in 1983, and discontinuing exploration at Homansville.
Keystone purchased the property and exploration data for cash and property exchange. Keystone’s acquisition was completed only a few months ago, and title to the 45 patented mining claims (650 acres) is solid.
It is our great good fortune that previous owners were unsuccessful in developing a mine at Homansville—now the opportunity is ours to develop a mine on this virgin high grade gold deposit. Political problems nearly world-wide are causing frequent loss of mining investment. This virgin gold deposit is in Utah—where ownership is secure and political risk is at a minimum.
Come to Eureka and let us show you the data. The facts will convince you that Homansville is a unique high grade gold deposit that will profitably produce millions of ounces of gold and silver and show up as profit on the “bottom line.”


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