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| | | | |  Location & Description
The Hog Ranch property is a past gold producer, which consists of a large low-sulphidation epithermal gold system. The project is located in Washoe County, Nevada, approximately 185 kilometres north of Reno. Hog Ranch has excellent access via Nevada Highway 34 and is comprised of 238 unpatented lode mining claims that cover approximately 4,917 acres (1,990 hectares) and a mining lease with Estill Ranches LLC ("Estill") on approximately 592 acres (239.6 hectares) of privately owned fee land. The topography is characterised by gentle rolling hills and moderately steep ridges surrounding the northeast-draining, 16 to 19 kilometre wide Cottonwood Basin which occurs at an elevation of approximately 1,650 metres (5,400 feet). Elevations at the project range from approximately 1,700 m to 2,000 m (5,600-- 6,600 feet). The climate is arid with average annual precipitation ranging from 15 cm to 30 cm (6-12 inches). Temperatures average -1oC (30oF) in winter and 18oC (65oF) in summer with large daily variability. Vegetation is sparse and consists generally of sagebrush, grasses, and perennials. March 9, 2010 - Encouraging Phase I Results from Hog Ranch Project Ownership Icon Industries successfully executed a formal Option Agreement by which Icon can acquire a 100% interest in Seabridge's claim groups known as the Hog Ranch and Estill property. For more detail, please refer to the May 6, 2009 Icon and Seabridge joint news release in our Press Releases section. Background Gold was first discovered at Hog Ranch in 1980 by Noranda Exploration, Inc. Subsequent explorers focused on open-pit deposits amenable to heap leach processing, which led to a production decision in 1986 by Western Goldfields. In 1988, Western Mining Corporation purchased the property and continued mining until 1993 when the mine was shut down. Despite extensive drilling to define the shallow, low-grade open pit resources, only a small proportion of drill holes were drilled to a depth greater than 200 m on the property prior to 2001. The shallow drilling did not systematically test the potential for the discovery of high-grade gold mineralization in underlying high-angle, structurally-controlled feeder zones, as seen below near-surface low grade mineralization at the Midas, Sleeper, and Hollister deposits. Recognizing this potential, Seabridge Resources optioned the property in 2001, and drilled eight holes which followed up several previous holes that were drilled beneath two of the past producing pits, and along their strike extensions where previous drilling had historically intersected gold values ranging from trace up to 194.1 g/T (5.66 oz/ton) of gold. The program was successful in intercepting high-grade gold mineralization, with a best intercept of 0.76m grading 19.9 g/T gold. However, the deepest drill hole of the limited Seabridge program was only 146 m, in which high-level silica textures, clay mineralogy, and Au-Sb-As geochemistry still suggested a greater target depth. The property was subsequently optioned to Romarco Minerals in 2003, who drilled 725 m in 3 Rotary Percussion holes during 2004. Results included 6 m grading 13.1 g/T gold, 1.5 m grading 28.7 g/T, and 1.5 m grading 17.2 g/T gold (true widths unknown). A second phase program of six core holes (1,398 m) included 1.5 m that assayed 15.3 g/T gold, as well as numerous broad zones of lower grade gold mineralization. For example, HR 04-9, intercepted 10.7 m of 1.08 g/T and a separate interval of 25.9 m of 0.42 g/T gold (true widths unknown). Other Romarco drill hole results ranged from trace to the values discussed. Romarco relinquished their option on the property in 2005 to focus their exploration activities on other projects and no work has been done on the Hog Ranch property since that time. Icon Industries believes that the Hog Ranch property contains high exploration potential for the discovery of bonanza-grade epithermal gold mineralization comparable to that seen in other deposits of the northern Nevada epithermal district. The low grade and high level style of mineralization historically mined is comparable to that seen above many higher grade systems, including the Hollister deposit. The previous drilling results, and other high grade intercepts which lie beneath the historically mined pits, also indicate the potential for bonanza grade styles of mineralization, and the local occurrence of chalcedonic banded quartz-adularia veins intersected in some drill holes and pits are of the style seen in upper parts of productive epithermal vein deposits. Geology & Mineralization The Hog Ranch Property is a large gold-bearing hydrothermal system which is the westernmost of a series of gold deposits in the northern Nevada epithermal district, which includes bonanza grade gold deposits such as the Sleeper Mine (~1.7M oz. production), Midas Mine currently operated by Newmont Mining with 1998 historic pre-mining reserves of 2.7 million tons grading 1.115 oz/ton Au and 12.82 oz/ton Ag (Goldstrand and Schmidt, 2000) and Great Basin Gold Ltd's Hollister deposit (NI43-101 compliant reserves of 1.28 million tons grading 0.90 oz/ton gold and 4.8 oz/ton silver; Feb. 23, 2009 news release). The deposits are related to the northern Nevada Rift system, a series of faults associated with 17 to 14 million year old Miocene age volcanism that are associated with the Yellowstone hotspot. Hog Ranch occurs along the Black Rock Structural Boundary, a western strand of the northern Nevada rift system. Rhyolitic volcanic vents, dykes and dome complexes are interlayered with coeval tuffs and flows in eastern parts of the property associated with the historically mined deposits. These intrude and interfinger with lake sediments of the Miocene Cottonwood Basin to the west and northwest. Small potentially fault-controlled upland lakes, evidenced by preserved and locally brecciated lake sediments, occur in small basins within the rhyolite volcanic complex, spatially associated with areas of previously mined mineralization. Potential controlling faults to these, which trend northeast, north-northeast and northwest, may represent hydrothermal feeders, and could host vein systems at depth. Rhyolite dykes in the Cottonwood Lake sediments also contain silicification on their margins and are host to mineralization, including the Airport and Cameco zones. The deposits at Hog Ranch occur within a large, zoned hydrothermal alteration system. Near surface silicification and opalization that formed at or near the paleowater table affect extensive areas of the rhyolite and tuff sequence, and extend into the lake sediments to the west. Underlying clay alteration is zoned, and includes classic adularia-illite-kaolinite mineral assemblages. Patterns in the clay alteration will be utilized to identify and target potential upflow zones in the hydrothermal system that may host veins. Historically mined mineralization is comprised of disseminated low grade gold mineralization which was localized in and below the near surface silicified zones, in a setting termed "hot spring" style mineralization that is comparable to lower grade mineralization seen above many higher grade systems, including the Hollister deposit. High grade intercepts encountered in previous drilling beneath the historically mined pits, also indicate the potential for bonanza grade styles of mineralization, and the local occurrence of chalcedonic banded quartz-adularia veins intersected in some drill holes and pits are of the style seen in upper parts of productive epithermal vein deposits.
Historical Mining
Ore at the Hog Ranch mine was exploited from six deposits that ranged in size from 0.17 to 4.64 million short tons (0.15 to 4.21 mt). A total of 8.5 million short tons (7.71 mt) were produced at an average grade of 0.036 oz/ton (1.23 g/T) gold. Most of the production came from the "North Mine Area", which includes the West, 139, Geib, Krista, and East pits. The following table provides an overview of historic mined deposits and remaining resources at Hog Ranch:
Historical Resources
The property still contains two un-mined deposits which have historical resources: the White Mountain deposit, containing 1.45 million tonnes grading 1.13 g/T gold, and the Airport deposit, containing 0.4 million tonnes grading 1.85 g/T gold. Together, these deposits contain approximately 2.38 tonnes (80,000 oz) of gold. These resources are of a historical nature, are not in compliance with Canadian Institute of Mining, Metallurgy and Petroleum standards, and consequently should not be relied upon. In 1996, Cameco U.S. Ltd. continued exploration for the same target type (shallow, oxidized deposits amenable to heap leach processing) and discovered a further zone of mineralization for which no resources have yet been estimated. Drill hole intercepts there included 16.8 m grading 1.7 g/T gold, 7.6 m grading 3.53 g/T gold, and 6.1 m grading 57.9 g/T gold. True widths of these intercepts have not been determined. Historical High-grade Drill Results
By 1997, approximately 2,680 holes had been drilled at Hog Ranch. The majority of these were shallow holes for resource/reserve definition and ore grade control during mining; however, numerous high-grade intercepts were obtained. In 2001, Seabridge became the first company to focus their exploration on the potential for deeper, high-grade structural targets. A tabulation of high grade drilling results from these holes is presented below; while many of these intercepts have been mined, they illustrate the potential for high grade vein mineralization in the system. High Grade Drill Hole Intervals at Hog Ranch
2009 Exploration Program
Icon intends to continue exploration on the property by initially reviewing and modeling of the exploration and historical mining data generated to date, and to conduct additional surface mapping of structural patterns and alteration zonation, which may help in the identification of potential faults that could host, or control deeper vein systems. Once prospective areas are better defined, ground geophysical surveys, particularly resistivity/induced polarization, which have been proven to be useful in aiding in targeting for veins in similar large alteration systems, may be undertaken, followed by drilling. Initial targets will be in the vicinity of historical mining and resources, however, given the large, >50 km2 size of the zoned alteration system, and the restriction of past drilling largely to the deposit areas, the Company believes additional targets may be defined during the program.  Hog Ranch Brochure | | |
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