Following the successful restart of the Trixie mine, the Eureka Standard mine represents the next high-quality exploration and resource development opportunity for TCM over the next 2-3 years.
The historic Eureka Standard mine was a high-grade gold-silver polymetallic underground mine that operated between 1923 to 1949, and was the highest grade precious metal operation in the East Tintic District, operating at an average head grade of 0.7 oz/t gold during its life of mine.
Located 4,500 ft north of the current Trixie operations, the Eureka Standard mine connects at its 1100 level to the deepest 1350 level of the Trixie mine. This underground connection to the Trixie operation provides an exceptional opportunity for exploration and resource development of the Eureka Standard ore shoot, and the ability for TCM to quickly expand its global gold resource base at its East Tintic operations.
The mine was historically developed to a depth of 1,450 feet across six underground levels. Mineralization is localized along a north-east striking, north-west dipping extensional fault system named the Eureka Standard fault, that extends between the Trixie gold mine to the south and the historic Apex Standard mining operation to the north. Mineralization consists of closely spaced sheeted stockwork veins hosted within the Tintic quartzite located along the footwall of the Eureka Standard fault, with mineralization extending over a strike length of 1500 ft.
The primary high-grade ore shoot at the southern end of the deposit was developed over a strike length of 500 ft. and plunges steeply southwards where it historically met the water table at a depth of 1350 ft. Results of historic sampling on the 1400 sub-level of this primary high-grade ore shoot at the Eureka Standard mine returned an average gold grade of 1 to 1.8 oz/t Au across hundreds of samples; mineralization remains open at depth.
As is common with the majority of historic operations in the Tintic District, mining activities were restricted to above the water table due to limitations in dewatering and pumping capacity in the early 1900’s, which are not limitations today given modern technology. Furthermore, it is interesting to note that our current work in the district indicates the water table has dropped.
This ore shoot, and its depth extent represent a significant high-grade resource opportunity for TCM, with surface drilling planned for the second half of 2021.