||District scale potential for gold/silver and base metal deposits similar in style and scale to: Premier Mine (less than 10 km west), Brucejack (30 km north), Red Cliff (immediately adjacent to the west) and Red Mountain (20 km southeast). Several individual targets are discussed separately below.
||Paved Stewart Highway (37A) and electrical transmission line cross the property; town and deep-water port within 20 km
· Situated in a major north-south structural corridor extending from the confluence of the Bear River Valley and American Creek;
· Contains several high-grade past producing precious metal mines;
· American Creek corridor recognized as highly prospective for intrusion related Au-Ag deposits (Brucejack);
· Dominant land position in the corridor.
Auramex holds a dominant land position in the lower American Creek corridor. The extensive American Creek property package encompasses multiple targets, extending from the important 3-way structural intersection that marks the confluence of the upper Bear Valley and American Creek and extends 13 kilometres along American Creek.
Three past-producing high-grade silver mines (Mountain Boy, Terminus and Ketchum) are located in close proximity to each other along this corridor and all near 1000 metres elevation. The working hypothesis is that the high-grade silver zones represent the upper portions of extensive hydrothermal systems, with the lower portions of the system(s) underlying those high-level expressions.
Auramex considers this area to be underexplored, especially given the presence of the nearby past-producers, the prospective geology enhanced by more modern interpretations and the encouraging results in the region. Drilling by Pretium Resources Inc. (www.pretivm.com) on their adjacent property included holes targeting their American Creek Zone, within 4 kilometres of the Auramex property and produced significant values of gold and silver within that zone. Auramex’ target areas were acquired based on the Company’s unique knowledge of the geology of the area, with a focus on prospective early Jurassic intrusions.
Auramex and Mountain Boy Minerals Ltd., with adjacent properties on the west side of American Creek, are conducting a cooperative exploration program. The multiple mineral occurrences on both sides of American Creek are now seen as related to an extensive and robust mineralizing system extending along American Creek.
For the first time the lower American Creek area has been unified and is being looked at with comprehensive modern exploration across geological units without the constraints of property boundaries. Results from decades of previous work were augmented with Auramex fieldwork and geophysical surveys. This approach has revealed and continues to produce exceptional geological insights to advance these various targets.