Highway 50 Gold Acquires Quito North Project
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VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / Highway 50 Gold Corp. (TSXV:HWY) ("Highway 50" or the "Company") announces that it has staked 28 unpatented claims located 10 km south of Austin, Central Nevada. The Quito North claims cover the northeast corner of the Quito Lower-plate window and encompasses 3,000 m of the northern projection of the Quito Mine mineralized structure, up to its intersection with the eastern terminus of the Jurassic aged Johnson Canyon laccolith.
The area immediately south of the laccolith is known as Bleach Cliffs. Highly elevated arsenic, antimony, and low-grade gold are known at Bleached Cliffs and have been the impetus for limited exploration in the past. Shallow drilling at this target has intersected up to 0.04 oz/ton Au in Lower-plate limestones, immediately under the Roberts Mountain Thrust. This may constitute leakage above a more substantial gold deposit. The target is outboard of a 200 m wide calc-silicate-hornsfels-skarn thermal areole that surrounds the Johnson Canyon intrusive. The southern portion of the Quito North claim group covers part of the Section 25 target area, where trenching and shallow drilling have encountered low-grade gold mineralization. The southern claim boundary of the Quito North claim group is located 1 km north of the former Quito operating open pit mine.
Management notes the marked similarity between the geology of the Cortez and Quito windows, in particular the north end of the Goldrush deposit (Dorothy) where Barrick Gold has announced the discovery of a new high-grade gold zone, and the Bleached Cliffs target.
Quito hosted significant high-grade mineralization (+1 oz/ton gold) with the pit bottoming in 0.5 oz/ton gold mineralization. The bottom of the high-grade has not been found. Numerous occurrences of ore-grade gold mineralization are present throughout the district, in both Lower- and Upper-plate lithologies. As such, Quito has pedigree and represents a strong Carlin system of district scale. To date, drilling within the district has been mostly shallow and limited to the Quito Mine area. Since the discovery of high-grade gold in 1980, the entire Quito district has been held by FMC Gold and successor companies. The latest company, Yamana Gold, was permitting a substantial exploration program prior to their takeover by Pan American Silver Corp. Subsequent to closing of that acquisition, the claims were allowed to lapse.
Highway 50 is currently digitizing and collating relevant data in its possession prior to permitting a drill program.
