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UPDATED FEB-18-05

Geology

Hog Ranch is an epithermal low-sulfidation gold deposit with similarities to the Midas, Comstock and Sleeper mines in Nevada and El Penon and El Indio in Chile.  It is hosted by middle Miocene rhyolite volcanic and volcanoclastic rocks that produced mineral deposits at Sleeper, Grassy Mountain, National and Buckskin, Delamar and McDermitt.  The deposits at Hog Ranch are localized by eruptive volcanic features formed along the northeast trending Black Rock Structural Boundary.

In the mine area, rhyolite tuffacous rocks are represented by poorly welded to densely welded ash units and incestuous volcanic dome complexes.  Interbedded with these tuffs are lacustrine rocks, made up of volcanic detritus and water lain ash and abundant plant remains.  Ore zones exploited by Ferret and Western Mining were principally disseminated occurrences hosted by poorly welded tuff and lacustine rocks.  Veins are better developed in the component densely welded tuff.

Volcanic centers and the historical open pits are aligned in a northeast trend coincident with the Black Rock Structural Boundary.  This structural feature represents the northwestern boundary of a large and long lived volcanic depression in Northern Nevada and is considered a major crustal break.  During middle Miocene time, northeast-southwest directed extensions produced northwest trending dilation zones, which are best preserved in the Black Rock Structural Boundary.  Gold-bearing fluids utilized these northwest trending dilatational faults to produce the ore deposit at Hog Ranch.  The identified high-grade vein system is contained in the northwest trending faults.

Acid hydrothermal alteration is ubiquitous on the property and grades laterally and vertically around the northwest trending fault system.  Silica and potassium-bearing minerals are the characteristic alteration minerals, with alteration intensity and mineral temperatures increasing toward faults that host veins and at depth.  Below the level of fluid boiling, the alteration assemblage is indicative of hydration reactions by fluids in equilibrium with the rock.  This alteration style is identified about 1000 feet below the present surface and laterally several miles from the deposits.