Technical information on this property is available on request.
The Blair silver-gold property was acquired by ARNEVUT Resources Utah (ARU) in May 2013. It is in southwestern Utah in the Antelope Range mining district west of St, George, Utah. Both silver and gold mineralizations are known from past-producing small underground mines and historical drilling, but no NI 43-101 compliant resources have been established yet. There also are base metal trends within the district and property.
The property includes a key state section lease was acquired which covers the majority of the known gold occurrences in the center of the district and overlaps part of the known silver and base metal occurrences. Unpatented claims cover the key areas of the remaining extent of the “silver trend”.
The Blair property was optioned to Silver Peak Exploration (Silver Peak) in 2016. Silver Peak completed their earn-in to 51% ownership of the property in September 2017. Subsequently, the option agreement converted to a Joint Venture agreement between ARU and Silver Peak named Bullion Canyon, LLC. All claims and the lease held by ARU, and those held separately by Silver Peak, became part of the JV ownership. Ownership percentages of the JV by ARU and Silver Peak are adjusted annually based on the relative funds provided by both parties for exploration work.
During the option phase of the agreement, Silver Peak performed surface geological mapping and sampling to help define drilling targets. A drilling permit was obtained in Fall 2017. In Summer 2018, the JV completed the initial drilling program. Results of the drilling have not been announced yet.