|
Target: Carlin-style epithermal gold target hosted in Paleozoic sediments. Targets include graben-bounding structures with highly anomalous gold and trace elements in jasperoids.
Location: The Leonid project is about 30 miles south of the town of Carlin and straddles the boundary of Elko and Eureka Counties. The Leonid project consists of 76 unpatented lode claims owned by the Company.
Ownership: AuEx has entered into an exploration agreement with Nevada Superior, Inc. - a private Nevada company - who will fund $1.5mm in exploration on the property to earn an undivided 50% interest.
History: There is no known previous exploration history to this area accept for some old barite workings, yet it is an area that has seen considerable regional exploration.
Leonid is located in the southern portion of the Carlin Trend and was initially defined from proprietary processing of satellite imagery that showed hypogene alteration in an area of Paleozoic shale. Outcrop sampling during subsequent ground follow-up confirmed anomalous Carlin-type pathfinder geochemistry, vein style barite breccias and jasperoids on large structures that defined a graben-like feature within which the satellite anomaly was located.
Geology: This is a classic Carlin style district with a similar lithological and structural setting as at the Rain Mine located 30 miles to the north. Outcrops of anomalous jasperoid at the base of the Woodruff that are hosted in lower Mississippian dirty carbonates are exposed along a graben structure. Regionally this is known as the Roberts Mountain Thrust but may be related to another of the Mississippian tectonic events occurring in Northern Nevada that were once thought to be part of the single Roberts Mountain Thrust.
AuEx Ventures, Inc. is currently seeking a joint venture partner for the Leonid Property. To learn more about this property and other joint venture opportunities, please contact Eric M Struhsacker, Exploration Manager, US at (775) 337-1545 or estruhsacker@auex.com. AuEx Ventures, Inc. is a TSX listed precious metals exploration company that has a current portfolio of over twenty properties in Nevada, two projects in Argentina and one project in Spain.
The Company controls over 167,000 acres of unpatented claims and fee land. Eleven of the projects are in joint venture agreements with seven companies providing exploration funding. The Company applies the extensive Nevada exploration experience and high-end technical skills of its founders to search for and acquire new precious metal exploration projects that are then offered for joint venture.
|
