The Paradise Property (PPW) is an epithermal gold-silver mineral system that is situated in the historic Paradise Peak Mining District in the Walker Lane region of Western Nevada. The Property consists of two claimblocks that are centered on an east-west structural zone that is thought related to the Paradise Peak Mine pit just one mile to the west and on a northwest structural zone to the southwest of the Ketchup Flat pit. At least four historic reverse circulation drill holes are known on each claimblock that host chalcedonic alteration that is similar to that found associated with mineralization in the two pits. The four drill holes associated with the PPW claims define a continuous east-west structural zone that is at least 1,370 feet in length. The chalcedonic alteration is hosted in Tertiary-age volcanics although the surface rocks consist of an unknown thickness of alluvium..
Located in the Historic Paradise Peak Mining District
The Paradise Property is an exploration property that is located in Nye County, Nevada within the historic Paradise Peak Mining District. Paradise is situated in Sections 2, 3, and 15, Township 10 North, Range 36 East, Mount Diablo Base and Meridian and is eight miles south of the town of Gabbs, Nevada. Year-round access to the Property is
excellent and is gained by driving south on State Route 361 from Gabbs and turning south on the Pole Line Road for another three miles. The Property is located to the immediate east of the Pole Line Road and is accessed from several dirt roads and trails.
A Total of 13 Claims of 20 Acres Each
The Paradise Property consists of 13 unpatented lode claims of 20 acres each that are situated on Bureau of Land Management (BLM) controlled land. The 13 claims are situated in two separate claimblocks of nine claims (PPW 1-9) and four claims (TW 1-4) respectively. There are no underlying royalties or lease payments on the claims but, Walker Lane Exploration is required to pay annual claim rentals for all claims to the BLM in the amount of $155 per claim per year in order to maintain the mineral rights with the Federal Government. Walker Lane is also required to pay an annual fee of $10.50 per claim per year to Nye County to maintain the mineral rights with the State of Nevada. No work commitment is required to maintain the mineral rights with either the Federal Government or the State of Nevada.
The Geology – A High Sulfidation Epithermal Mineral System
The Paradise Property is classified as a high sulfidation epithermal mineral system and is hosted in early Miocene-age volcanic rocks. The nearby historic Paradise Peak Mine deposit was discovered in 1982 and mined by the FMC Corporation (FMC) from 1984 until 1992 and had a mined reserve of 9.6 million tons of 0.115 ounce per ton (opt) gold and 3.7 opt silver. Regional and district mapping of the district by various government and private mining companies is within the public domain and defines the pre-volcanic basement rocks and overlying volcanic stratigraphy that hosted the deposits. The Paradise Peak Mine deposit was hosted in early Miocene volcanic rhyolitic ash flow tuffs and underlying andesite flows that were deposited on a pre-volcanic basement of Mesozoic metasedimentary and metavolcanic rocks. The volcanic rocks underwent high sulfidation alteration that resulted in gold-silver mineralized chalcedonic silicification that is contained within a weakly mineralized clay altered halo. Original mineralization was pyritic in nature, but later surface oxidized from meteoric waters (rain and snow) over the last 15 million years.
The Paradise Property held by Walker Lane Exploration contains at least six historic reverse circulation (RC) drill holes that encountered similar chalcedonic altered volcanics with pyrite and clay altered volcanics as evidenced from drill cutting piles adjacent to each drill hole. These holes are known to have been drilled by FMC in 1992 based on historic BLM records although the results of that drilling are not known. The four drill holes located on the PPW 1-9 claims define an east-west zone that is at least 1,370 feet long with unknown width and at unknown depth. The surface rocks at each drill hole consists of an unknown thickness of alluvial material (gravel) that was drilled through to encounter the significant alteration.
The Geochemistry – Samples of Chalcedonic Alteration
There are no geochemical samples that have been analyzed from the Paradise Property although samples of the chalcedonic alteration at each drill hole are planned to be collected and analyzed for gold, silver, and associated trace elements.
Proposed Exploration Program
The Paradise Property is without known reserves and the proposed program is exploratory in nature. It is proposed to conduct geochemical sampling of the historic RC drill holes and a contracted ground magnetic and gravity survey over the claim areas. A reverse circulation drill program will then be designed, and permitted and bonded with the BLM to carry out drilling activities with the express purpose of discovering mineral resources and reserves.