COLUMBUS GOLD CORPORATION : http://www.columbusgoldcorp.com/ : Clara Property
Clara Property
The Clara Property consists of 94 mineral claims and one State of Arizona Prospecting Lease and covers approximately 6404 acres, eighty miles northwest of Phoenix, Arizona. Subject to net smelter royalties, Columbus owns a 100 percent interest in the property.
The property covers the down-dip extension of gold mineralization exposed at the nearby Moreau Project, held by a third party.
The Moreau Project covers exposures of a flat-dipping, detachment fault separating a lower plate of Precambrian metamorphic rocks from overlying Tertiary sandstones. Gold occurs both in the sandstones at the detachment fault and along high angle structures cutting the sandstones above the detachment fault. Gold grades in surface sampling are high with numerous chip samples running from 0.10 to 0.60 opt gold. The mineralization is erratically distributed along the greater than two miles of exposed strike length of the detachment fault.
The Moreau Project has been drilled by Nevada Pacific, Phelps Dodge, and Echo Bay. Drilling has indicated the gold mineralization at Moreau to be erratic in grade and thickness and no large, viable ore bodies have been discovered to date. The best hole was Nevada Pacific hole #1, which had 45 feet of 0.11 opt gold from surface.
Columbus' Clara Property covers four square miles of pediment directly adjoining and down-dip from the Moreau Property. Columbus' claims are largely covered by thin gravels (10-50 feet). It is Columbus' interpretation that the Clara Property is underlain by exactly the same geologic setting as at Moreau, and therefore presents an excellent target for gold mineralization. A program of geologic mapping and geophysics is underway at Clara to be followed by drilling if the results continue to be favorable.
