Paramount Project

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Property Information

Location

Elko County, Nevada

Size

564 acres

Type

Lode

Price

$350,000 plus 1.5% net smelter royalty
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Property Details

The Paramount Project at Spruce Mountain, Nevada is a prospective early-stage gold, silver, and base metals exploration property that consists of 28 unpatented lode mining claims covering 564 acres, on federal land managed by the U.S. Bureau of Land Management (BLM).  There is a 6.9 acre plot of private property withing these claim not owned or controlled by Conquest.  There is a 0.5% net smelter returns royalty on all the claims. 

Our objective is a lease, joint venture or straight sale with a qualified party.

Location:

The property is located in Elko County, Nevada about 225 miles from Salt Lake City, UT, the nearest big city. The property is 36 miles south of Wells, Nevada on the East side of Highway 93. The property can be accessed by dirt roads connecting to Highway 93.

History:

The first discovery in the Spruce Mountain district was rich silver-lead ore at the Killie Mine in 1869. From the 1869 to the 1930’s the district produced high grade silver-lead ore from various small mines. The historic Paramount Mine (on our claims) was also mined during this time period and had grades of 15 ounces per ton silver, 0.25 ounces per ton gold and 4% lead.  During the 1950’s to the 1970’s large companies took an interest in the district due to the discovery of molybdenum

porphyry mineralization. Newmont, Freeport, AMAX, Occidental, Teck Resources, and others all conducted exploration and drilling activities. Santa Fe Gold drilled 33 reverse circulation holes during in 1984-85 season – which focused on a gold target and is covered by our claims.  Several of these holes had economic gold grades.  The last serious exploration program was conducted by Renaissance Gold from 2011-2014. Conquest purchased Renaissance’s data package relevant to our claims in exchange for a royalty. Prior drill programs confirmed the existence of a Carlin-style gold target along a 1 km trend in addition to polymetallic mineralization throughout the claim area.

Geology:

The Paramount property lies in the eastern portion of the Great Basin portion of the Basin and Range Physiographic Province. The Paramount project area consists of Paleozoic carbonates and siliciclastics which were intruded by poly-phase intrusive bodies, dikes and sills of undetermined age. The structural setting of the Spruce Mountain property is dominated by folds, faults and the regional metamorphic fabric. Mineralization occurs as base-metal/silver veins, poly-metallic skarns, gold-bearing jasperoids and gossans.  Mineralization at the Spruce Standard mine occurs as replacements in limestone and granite porphyry and alongthe contact between the two. The drilling results suggest mineralization occurring at the Guilmette-Pilot Shale contact, which occurs within the claim area. Carlin-style pathfinder elements are associated with the gold mineralization.

Available Reports:

  • Geological technical report prepared by AbaniSamal, Phd. of GeoGlobal LLC. (August 2022)
  • Drilling data from Freeport, Sante Fe, Renaissanceand others
  • Geophysics (mag and gravity), Soils, Rock Chips,
  • Geological Mapping, Cross Sections
  • Master Thesis on Intrusives, Previous 43-101 Report from 2011
  • Compilation Reports on Moly Porphyry Exploration Results
  • Historical reports from original gold-silver mines

Project Highlights:

  • 1 km+ gold trend with best drill hole 21 m of 2.36 g/t Au (from 75 to 96 m depth)
  • Past drilling tested upper plate only and there is potential for Carlin-style deposit at depth
  • Large moly porphyry – partly on our claims – past drilling bottomed out in ore
  • Moly values increase with depth (0.25% MoS2) and contain significant silver values
  • Bonanza grade gold-silver in historical mines
  • Extensive gold-silver and base metals mineralization
  • Large data package, numerous reports
  • Recent geological technical report
  • Good access, BLM Land