Comparable Target Type
The Pinchi Fault with its terrane bounding character, ultramafic lithologies, mercury mineralization and hot spring activity is comparable to both the Melones Fault and the Stony Creek Fault and as such offers potential for the discovery of a world class gold deposit.
The Melones fault in the Motherlode district of California is commonly cited as being comparable to the Pinchi Fault. The 200 kilometre long Melones Fault is the structure responsible for nearly 50 million ounces of placer gold and more than 100 million ounces of lode gold, most of which was produced in the nineteenth century. In the Motherlode district ultamafic rocks, often serpentinized, are frequently spatially associated with gold mineralization and define the deep structures that formed the hydrothermal conduits for gold bearing fluids. In earlier descriptions from California the altered product was often called "Mariposite" and more recently has been called "Listwanite". The Motherlode district is famous for spectacular bonanza gold grades that occurred near the edge and on the outside of the serpentinite bodies and for the exceptional down dip continuity of ore bodies.
The Stony Creek Fault in California is also comparable to the Pinchi Fault. The Stony Creek Fault is a major terrane bounding structure separating the Coast Range Ophiolite sequence from the Great Valley sequence. In 1978, Homestake Mining discovered the Mclaughlin deposit on the fault at a then mined out mercury mine. Gold at Mclaughlin is associated with siliceous sinter and contains minor hydrocarbon. A total resource of 24.3 million tonnes grading 4.49 g/t gold was defined and the deposit has since been mined out.
Some mention should be made of recent exploration completed by First Point Minerals Corp. (TSE-V: FPX) who, in 2007, identified a potential leading edge form of nickel mineralization in the general area of the kilometer 26 project. The recently completed Decar Nickel Property agreement between First Point Minerals Corp. and Cliffs Natural Resources Inc., a major USA based iron mining company, has been favorably received by the investment community as Cliff's metallurgical and operating experience with large scale magnetic separation techniques may have direct application to the Decar project. The Decar project hinges around the recent identification of a naturally occurring nickel-iron alloy called awaruite (essentially a natural form of stainless steel). Decar is located approximately 30 kilometers west of the kilometre 26 project where one rock (rubble) sample collected in 2009 exceeded 0.13% nickel and another 0.20% nickel. First Point recently announced additional awaruite discoveries in this belt.