Summary
The Enterprise is a Sullivan-type base metal prospect located about 1 kilometer east of the New Jersey mill, and is located on private land. Host rocks in the area of the Enterprise are those of the Prichard Formation. Geological studies have long pointed to the considerable likelihood that the Silver Valley's abundant silver, lead and zinc veins were originally derived from ancient seafloor deposits in the Prichard Formation. It is possible that a deposit will be found in the Prichard Formation that represents this original form of mineralization. These deposits could be huge, and an example is the Sullivan deposit which is north of the Silver Valley in Canada in the Belt Basin.
Exploration drilling at the Enterprise Prospect |
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Teck-Cominco's Sullivan deposit had known reserves of 150 million tonnes at 6% lead, 6% zinc, and 67 g/tonne silver. The present value of this deposit, if it were to be mined today, is US$17 billion.
Three diamond drillholes have been completed at the Enterprise and each intersected stringers of lead-zinc mineralization. Geochemical analysis of this drill core from these intercepts indicated highly anomalous levels of tin and boron both of which are characteristic of a Sullivan-type orebody. Additionally, a rock fragment collected from an old exploration drift at the Enterprise exhibits strataform-type mineralization and assayed 200 grams per tonne silver.
Exploration plans call for more diamond drilling from a new drilling site which is to be constructed in 2005.
Contact;
New Jersey Mining Company
P.O. Box 1019
Kellogg, Idaho 83837
Phone: 208-783-1032
Fax: 208-783-3331
