TSX.V: LGR

Viper

Location-map_viper.gif
Figure 1. Location map for the Viper Project

  • Viper is an early-stage, low-sulfidation epithermal gold target, located in northeastern Nevada.
  • Logan signed a Mining Lease and Purchase Option Agreement (“Angel Wing Agreement”) in March 2017 which effectively consolidated the greater part of the Viper District with their existing Pilot Gold Option Agreement.
  • The size of the consolidated Viper Property is 1,756.6 hectares, consisting of 40 unpatented lode claims under BLM jurisdiction plus an additional 87 adjacent and interlocking claims from the Angel Wing Property.
  • Individual veins with exceptional bladed and lattice epithermal textures, and free gold is visible in a number of outcrops. 
  • Viper is one of a series of volcanic hosted Au+Ag systems in northern Nevada, and shares many geologic features in common with major deposits such as Midas, Sleeper, and Fire Creek.
  • Work completed by Fronteer Gold in 2009 and 2010 defined multiple target areas on the basis of outcropping vein and vein/stockwork occurrences.  Rock chip samples from the Pilot claims and from adjacent ground now under option to Logan include multiple values in excess of one ounce gold, and contain visible gold in outcrop.  A number of historic drill holes returned significant gold values.

The Viper property is located in Elko County, Nevada, approximately 60 km northeast of Montello. The property consists of 40 unpatented lode claims on public lands under BLM jurisdiction, together with additional, third party ground. The Angel Wing Agreement signed in March 2017 brings an additional 87 adjacent and interlocking claims into the Project Area, effectively merging the two focus areas of historic work and allowing exploration of the entire four kilometer strike length of the main mineralized trend.

Viper-Kuzma-Claims-Land-Status.jpg

Bedrock comprises a sequence of gently dipping and folded Permian/Triassic limestone and calcareous siltstone, unconformably overlain by Tertiary conglomerate. Miocene felsic volcanic rocks and associated intrusive domes are younger than the conglomerate, and are thought to be coeval with the gold mineralizing event. Viper is unique in that vein and vein stockwork mineralization are hosted by sediments, whereas overlying rhyolite and dacite are generally barren. High angle faults that are interpreted to be feeder structures to gold bearing fluids display several orientations including north-south, northwest, and northeast.

Alteration related to gold mineralization is dominated by silicification, quartz-carbonate veining, illitic clays and decalcification as broad selvages to veins, particularly within calcareous siltstone host rock. Overlying conglomerate is also pervasively silicified although only rarely mineralized.

Gold mineralization at Viper is intimately related to the presence of quartz-calcite veins and vein stockworks. Individual veins exhibit spectacular bladed and lattice epithermal textures, and free gold is conspicuous in a number of outcrops. Exploration on the Pilot claim block returned surface rock samples to 11.8 g/t Au. Silver and indicator metal abundances are low at Viper, although statistical analysis of soil sample data indicates a strong positive correlation between gold and iron.

outcrop.jpg
Outcrop of the Goya vein, exhibiting “quartz after calcite” lattice textures indicative of hydrothermal boiling. Assays from this outcrop range to 25 g/t Au over 3m

In most respects, Viper is a typical low sulfidation epithermal project, although host rock (sediments) and trace element association (iron) are unusual. The current model for gold deposition envisages high angle faults as feeders with ascending hydrothermal fluids ponding beneath the impermeable rhyolite cap. Gold values locally extend upwards into a silicified conglomerate unit where affected by hydrothermal brecciation. Associated alteration is dominated by silicification and decalcification with gold deposited in reactive silty carbonate.

viper_figure2.jpg
Drill section through the Baja target, illustrating concentration of gold in reactive calcareous siltstone near the conglomerate unconformity

Viper is a relatively recent discovery with first reported exploration by Teck in 1991. The larger district has been explored by Fronteer, Pilot Gold, and the Kuzma/Miranda/Ramelius joint venture. Technical programs have been comprehensive, including geologic mapping, geochemical sampling, hyperspectral studies, geophysical surveys, isotopic studies, RC and diamond drilling.

At this time, confirmed drilling on the Angel Wing Property includes Ramelius drilled 37 holes (34 RC drill holes, 3 diamond drill core holes) totaling 6,727 meters, with additional historic drilling under review. Past exploration carried out on the Viper Project by Pilot Gold includes geologic mapping, geophysical surveys, soil sampling, rock chip sampling, and 3,364 meters of drilling. The Logan team is currently reviewing this information and performing QA/QC checks and will report results in a future news release. Logan estimates the total exploration spend on both projects to be of the order of $3M.

Historic results in the Viper District - although encouraging – do not define mineable grades and widths of mineralization at appropriate depths. Work will focus initially on merging the historic databases to assemble a comprehensive, 3D district scale model designed to better define the main feeder structures. Logan anticipates this program of work will be successful in generating future drill targets.

Dr. Craig Bow, Vice President Exploration of Logan, is a Qualified Person (“QP”) as defined by National Instrument 43-101.  The QP is a member in good standing of the American Institute of Professional Geologists as a Certified Professional Geologist (CPG.). Dr. Bow has reviewed and is responsible for the technical information disclosed on the website relating to the USA Gold Projects.