Diamonds North Resources and Uranium North Resources have reported that they have purchased the Pierre Creek gold property located in Washington State. Exploration work is already ongoing on the property.
The exploration target located at the property is a high grade skarn deposit containing gold and silver akin to the Buckhorn deposit, located 70 km towards the western part. Kinross owns this Buckhorn Mine, which is a high-grade underground gold mine.
Many similarities have been noted between the Buckhorn deposit and the Pierre Creek property. Both regions exist in comparable geology together with rocks of similar age. They are located close to the gold-bearing iron ore skarn deposits, which grade gold for up 3 to 4.5 g/t. The three previous iron ore skarn mines, which are adjacent to the Pierre Creek project, lie along main lineaments. The property encloses the expansion of three main lineaments, several mineralized showings and a wide alteration zone related to skarn deposits.
The companies’ CEO and President, Mark Kolebaba stated that the resemblances to the Buckhorn mine and its position make the Pierre Creek project a promising venture.
Preliminary exploration phases will include magnetic surveys, sampling and mapping. Pathfinder, Homestake and Chevron completed geophysical and geological work reports, including five holes, between 1990 and 1994.
Source: http://www.diamondsnorthresources.com/