Located in south-central Alaska, the Ganes Creek Gold Project is about 275 miles northwest of Anchorage and 25 miles west of McGrath. The property has good accessibility over a state maintained gravel road connecting to a barge landing at Sterling or via the property’s 5,000 foot runway capable of receiving C-130, DC-4 and DC-6 aircrafts. Improvements include living quarters for 30 people. The equipment located on the site is valued at over $3 million.
Geology statements and exploration programs, performed at the Mineral Industry Research Laboratory at the University of Alaska, include the following assumptions: gold fineness = 870 with principal impurity b, silver gold density = 19.3 grams/cubic centimeter, silver density=10.5 grams/cubic centimeter, quartz density= 2.65 grams/cubic centimeter, water density = 1.00 grams/cubic centimeter. More details on request.
Clark-Wiltz Mining, Inc assembled the Ganes Creek Property and controls the exploration and gold mining rights. Total gold reserves on the property are estimated to be over 760,000 oz with an estimated value of over $800 million. Over 250,000 ounces of gold including many large gold nuggets have been recovered from alluvial deposits by dredge, dragline and dozer operations. Modern mining of the alluvials continues on a fairly large scale still working Ganes Creek and it’s perched bedrock benches and tributary creeks.
Much of the gold being detected and mined is coarse and frequently large particles of gold are found still attached to quartz and other gangue material. Large nuggets are not uncommon, the largest so far being 122 ounces. Clark-Wiltz started allowing paying visitors to the mine in 2002 to search the tailing piles for gold nuggets lost in the old operations. So far, hundreds of ounces of gold have been found, including a 20.1 ounce, 33.85 ounce and a 88 ounce nuggets early in 2004 by gold detectors. A 51.6 ounce chunk of the original source vein material with gold enclosed was found in 2003. A 42.9 ounce gold nugget was the largest detected in 2005; and, in 2006 over 120 ounces were found.
Bedrock beneath the Ganes Creek claims is predominately Cretaceous age basinal sediments, cross cut by quartz veins and sets of northeast trending dikes ranging from rhyolitic to andesitic composition. The Yankee-Ganes Creek fault forms a prominent NE lineament along the ridge in the eastern part of the property. This splay of the important Iditarod-Nixon Fork Fault has been the locus of considerable exploration, most recently by Placer Dome US (1996, 1997) working on the interpretation that Ganes Creek represents the faulted off-set from the Donlin Creek (12 million ounce) district located approximately 130 km to the southwest.
Ganes Creek valley is inferred to be the expression a deep seated structure oblique to the Y-G fault. On the vegetation covered lower slopes between Ganes Creek and the Y-G fault, intervening related faults probably controlled emplacement of the dike swarms. These structures present viable exploration targets in the obscured areas from which the alluvial gold is being derived.
Year after year, large nuggets are being found on this property. Over $800 MILLION in gold reserves is waiting to be recovered. Call now for more details.
Doug Clark - 907-733-2488