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Oest Property
Oest Property
Location and Access
Genco's Oest Property is situated about 1.4 km SW of Silver City in Lyon County, Nevada USA. Access to the property is gained by two-wheel drive along an unpaved road, which connects with the main highway to Virginia City. Reno is located approximately 80 km to the north and is serviced by rail and commercial airlines.
History
The Oest Property was originally claimed about 1861, when gold-bearing siliceous veins were exposed in the Comet fault. Underground mining operations from 1921 reported approximately 16,000 tons of ore averaging 3.5 ounces of Au/ton.
The Oest Mine was operated during the period 1887 to 1927 producing about $1,000,000 worth of gold and silver from shallow workings with approximately 16,000 tons of 3 oz Au/ton ore being mined from a number of high grade pods. During the production period 1887-1892, the mine averaged 4.0 oz gold/ton with the value of ore shipped during the life of the mine ranging from $10 to $80/ton. Gold and silver ratios averaged about 1:1 by weight. The property was acquired by Dayton Consolidated during the 1930's but production does not appear to have resumed after 1927.
During 1985, development on the Oest Property consisted of a program of geophysical and geochemical surveys and geological mapping and sampling of both the surface and accessible underground workings of the main Oest-Comet structure. Over 700 samples from 2100ft of trenching and 3000ft of underground workings confirmed Au and Ag mineralization on the main Comet structure.
Mineralization Types
The Gold and silver mineralization on the Oest Property is associated with 3 major fault zones: the north- to-northeast trending Comet zone, the EW trending Oest Fault and the EW trending Vargo Fault Zone.
In addition, the NE trending Santiago-Haywood fault passes through the eastern section of the property.
Estimates of Mineralization
Surface and underground samples taken to date give generally low gold values ranging from 0.003 to (2.5m) 0.027 oz Au/ton. A general tendency for increased silicification was noted in close proximity to the Santiago-Haywood Fault.
Geological mapping of the North Comet Extension and northern part of the Comet claims delineated a new area of surface and underground production potential. Samples from outcrop and selected samples from dumps range from-0.001 to 0.362oz Au/ton indicating the possibility of economic quantities of gold mineralization. Production potential of this contact zone requires measurement by a close-spaced soil geochemistry program followed by trenching and ultimately by drilling. Several old caved workings in this area should be opened and investigated prior to drilling.
To date, there haven't been any proven (measured) or probable (indicated) reserves established on the Oest Property.
Genco owns 8 patented and 6 unpatented claims in the Devil's Gate - Chinatown Mining District.
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