Greencastle has a strong balance sheet and a very lean corporate structure. Greencastle owns 100% interests in two gold exploration projects in Nevada, USA and a controlling interest in Deveron UAS Corp. Canada’s leading precision ag/data company. Deveron common shares trade on the CSE under the symbol DVR. Find out more about Deveron at: www.deveronuas.com
Jewel Ridge Data Review Generates New Targets in Nevada
Greencastle reported 2.1 g/t Au over 39.6 m at Jewel Ridge, Nevada in 2004. A database comprising 383 drill holes with gold assay values has been assembled from various past reverse circulation drilling programs on the property and a number of new targets have been identified along what appears to be a minimum 500 metre-long zone.
Historic mines within the Jewel Ridge claim block include the Hamburg, Peroni, Croesus (patents) and the Eureka mines.
Indian Creek, Nevada
Greencastle also owns the Indian Creek Property in Lander County, Nevada in the heart of the highly productive Battle Mountain-Eureka Trend, approximately 5 miles north of the Pipeline open pit gold mine operated by the Cortez Joint Venture of Barrick/Kennecott.
The Indian Creek Property is located in Lander County, Nevada in the heart of the highly productive Battle Mountain-Eureka Trend, approximately 5 miles north of the Pipeline open pit gold mine operated by the Cortez Joint Venture of Barrick/Kennecott. In 1988, Newmont Exploration Limited carried out a reverse circulation drill program in the area with one hole on the Property returning values of 17.7 g/t gold and 130 g/t silver over 1.52 m at a depth of 169 m, close to the NNW trending Gold Quartz Fault which crosses the property. Highly anomalous arsenic and antimony values occur with these precious metal values.
Jewel Ridge is located on the Battle Mountain-Eureka mineral trend of Carlin-type gold deposits in Nevada. This highly productive regional trend hosts multi-million ounce gold deposits such as Placer Dome’s Pipeline deposit and its recent discovery nearby at Cortez Hills. The Jewel Ridge property is located south of the former Ruby Hill gold mine operated by Homestake Mining Company from 1997 until 2002 producing some 135,000 ounces of gold annually. Jewel Ridge contains a number of historic gold mines which align along a north-south trending stratigraphic contact as well as several other gold mineralized zones with a variety of structural and lithological controls. In the early 1990s, Homestake drilled 31 holes on a number of gold mineralized targets with the most encouraging values in three holes along the Jewel Ridge zone containing 7.7 grams per tonne gold (g/t Au) over 4.5 metres, 6.3 g/t Au over 9.1 m and 6.7 g/t over 9.1 m.
In 2004, Greencastle completed 21 reverse circulation drill holes at Jewel Ridge. The drill program was designed to test along a number of mainly northeast trending structures. Six of the holes returned values less than 0.5 g/t Au. Five of the holes intersected several of the northeast structures at various depths, containing rusty oxidized material which returned values of 1 to 3 g/t gold over 1.5 m to 4.5 m. Hole HRC-11, drilled at -45° to test a northeast trending structure, returned 2.1 g/t Au over 39.6 m from 94.5 m to 134.1 m, including 2.7 g/t Au over 19.8 m from 94.5 m to 114.3 m. The hole is sub-parallel to and within about 15 m of the Hamburg-Dunderberg contact. The mineralized material occurs as oxidized sulphide veinlets and disseminations in bleached, decalcified Hamburg dolomite.
In 2012, Greencastle entered into an agreement with Rainbow Resources for the exploration of Greencastle’s Jewel Ridge property. In 2013, Rainbow agreed to include recently acquired patented claims totalling 35 hectares located within Greencastle’s larger Jewel Ridge claim block in Nevada. The claims are along trend in the immediate vicinity of the Hamburg pit, where Rainbow geologists have outlined a minimum 500 metre-long altered zone characterized by old workings, strong oxide staining and heavily silicified rock. The patented claims cover the former-producing Croesus mine (gold, silver, lead and zinc). Greencastle now owns these claims as part of the consolidated land package.
Rainbow completed a comprehensive review of all available technical data, including 383 drill holes, resulting in several promising drill targets being identified. Rainbow noted that a number of historic workings exist within the Jewel Ridge property. Some of the larger historic mines in the claim blocks include the Hamburg, Peroni, Croesus and Eureka mines, which historical records indicate, produced approximately 35,000 ounces of gold equivalent during the period 1871 to the 1920s.