The Diamond Peak Property is a historic MK Gold Gold/Base Metal property that was explored during the late 1990's and is located at the southern end of the prolific Carlin trend, which contains numerous gold deposits. The property comprises 58 claims located 32 miles north of the town or Eureka, Nevada and the Archimedes gold deposit owned by Barrick Gold Corporation.
Strong surface mineralization occurs in a 2 mile long band of intensely clay altered rocks, 200 to 300 feet wide, on the hanging wall side of a major north striking normal fault, called the West Fault.
During previous historic work done by MK Gold in 1999 they encountered gold and base metal values that included:
5 feet of 0.067 opt (2.08 grams) Au in hole DV 99-4 and 5 feet of 0.062 opt (1.93 grams) Au in hole DV 99-5;
11.6 % Zinc over 5 feet within 60 feet of surface along the West Fault in the Chainman formation in hole DV 99-15; and
106 g/t silver in outcrop (3.40 ounces per ton ) which was never followed up.
In 2006, a "3-d" Induced Polarization ("IP") survey was completed at Diamond Peak that utilized computer data interpretation to provide a comprehensive model which enabled the IP survey to not only measure along the line of survey but between the lines. A total of 4 kilometres of strike length was surveyed and the data was interpreted to find further targets on the property. There were two clearly noticeable features of interest found in the inverted resistivity and chargeability models along with two other anomalous features within the surveyed area. The two features of immediate interest were a north striking linear fault-like structure and a circular intrusive-like feature in the southern portion of the geophysical grid. To further evaluate these features, MAX has undertaken an extensive soil sampling program that extended the geochemical grid to the east and south, and further work has be done to expand the anomalous zones, especially to the east and north and where anomalous silver and zinc values occur in soils. Assay results are pending.
MAX has filed permits for a November drill program to follow-up on the 11% zinc zone identified by MK Gold only 60 feet from surface. The second drill area will explore a zone of mineralization which contains anomalous silver, zinc and lead. Another primary target is the outcrop that assayed 3.40 opt silver, which has potential as a Contact Replacement Deposit ("CRD"). Gold targets are extensive and will be further defined by the recent soil sampling program prior to drilling.
