· Prospective and existing investors are encouraged to view copies of geology reports of the site; please contact an officer, director, or the business development manager of the Company.
· Red Rover Mine Land occupies a total of 69 acres . The Red Rover Mine land would have considerable value as residential land. The possibility of taking the land or a portion of it to patent would depend upon the values uncovered by underground exploration and mine activity (Pray, 1989). (Note: The Company deems Ralph Pray’s opinions with respect to the Red Rover Mine limited to anecdotal value due to inconsistent opinions he provided to the Company, solicitation by him of potential investors of the Company for his personal gold mining projects, and solicitation by him of Jim and Joanne Cornett for purchase of their Red Rover Mine interests. Therefore, there exists the appearance of a conflict of interest with the Company. The Company rejected a small billing from Ralph Pray because the service was not requested. Excerpts from his work for the Company are presented for the purposes of their anecdotal value as well as disclosure, but are not relied upon by the Company.)
· Shallow underground workings were examined, and one stope was sampled. The
· The altered chloritic schist outcrop on top of the 300-foot hill was sampled across 50 feet. The fire assay showed 0.07 oz/ton Au and 0.3 oz/ton Ag (Pray, 1989).
· The upper dump white quartz was sampled and fire assayed at 0.10 oz/ton Au and 0.6 oz/ton Ag. Selected lower dump samples assayed 0.16 oz/ton Au and 0.4 oz/ton Ag (Pray, 1989).
· Sample mark: dump ore:
Au - Gold 1.482 oz. per ton @ $425.00 = $629.95 per ton
Ag - Silver 0.96 oz. per ton @ $9.50 = $9.12 per ton (Robert Craig report, 1982).
· The prospect is a silver-gold deposit of mixed type with possibly significant platinum. Sulfide mineralization occurs both in quartz-filled shear zones in sedimentary host-rock and in diffuse vein stockworks in altered gabbroic-diorite intrusive heat. The latter includes much visible pyrite and appears to be pervasively mineralized (B.L. Wood, 1986).
· The prospect has an inferred (openout) potential of at least 10 million tones of 0.5 oz/ton Au and 5 oz/ton Ag, with a small but possibly significant amount of platinum. These grades are estimated on very limited information, but the tonnage is likely to be considerably greater. The prospect has a possible metal value estimated at $1900 million, and, as such, warrants the performance of a surface sampling program to determine the distribution of mineralization. Also warranted is a search of mining records to define underground distribution and past production quantities and grades (Wood, 1986).
Copyright © 2006
Red Rover Mine, Inc.