Richmond Mountain is a Carlin-style gold project in Nevada’s Eureka Mining District. Two styles of mineralization are predominant in the district, including polymetallic (±gold) system(s) developed in skarn and replacement bodies adjacent to early Cretaceous intrusions, and younger Carlin-style gold mineralization that overprints the older polymetallic mineralization. On May 24, 2022 EMX enetered into an option agreement with Stallion Discoveries Corp (TSX-V: STUD) (“Stallion”) for the Richmond Mountain Project. The Agreement provides EMX with cash payments and work commitments during Stallion’s earn-in period, and upon earn-in a retained 4% net smelter return (“NSR”) royalty interest, annual advance royalty payments, and certain milestone payments. See Company news release date May 24, 2022 for more details.
EMX is targeting the superposition of Carlin-style gold mineralization on iron-rich skarns containing Pb-Zn-Ag-Au mineralization surrounding the Graveyard Flats pluton. Polymetallic skarns provide an excellent chemical trap for higher-grade gold mineralization related to Carlin-type fluids at the Archimedes Mine, approximately 1.5 kilometers east. A CSAMT geophysical survey indicates the eastern edge of the Graveyard Flats pluton is located on EMX’s property, with favorable stratigraphic host rocks under post-mineral cover. Prominent structural zones with Carlin-style mineralization project under the post-mineral cover onto the Richmond Mountain property where the interpreted eastern edge of the Graveyard Flats pluton is located. EMX believes an analog to the Archimedes deposit may be present on the eastern contact of the Graveyard Flats pluton.
EMX regards the Richmond Mountain project as a highly prospective gold project within a Nevada Carlin-style district which hosts a significant upper tier mining operation at Ruby Hill and is significantly underexplored relative to similar districts in Nevada. The Company looks forward to the Stallion team testing the target concepts in the near term.
Note: The nearby mines and deposits in the region provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar mineralization.