TNT’s new Hot Spur gold-base metals acquisition neighbours some world-class mining projects
Special Report: An exciting base and precious metals project acquisition in Nevada is part of TNT Mines’ plan to build a portfolio of overlooked North American assets.
The Hot Spur project will join the Pelley Ridge zinc project in Montana (where planning is underway for a maiden drill program) in the TNT (ASX:TIN) portfolio.
TNT believes the lack of exploration capital from traditional sources, like the Canadian equity market, means there’s a significant opportunity to pick up undervalued assets in North America.
Hot Spur is hosted within the gold-rich Carlin Trend, where more than 84 million ounces have been pulled from the ground so far.
The Hot Spur package is about 9km from Kinross Gold’s 5moz Bald Mountain Mine, one of the largest active gold mines in the US.
But TNT isn’t just chasing gold.
The project also neighbours the Spur zinc project, where Pasinex Resources has unveiled thick, high grade hits like 43.9m at 14.2 per cent zinc from 43.3m, including 13.7m at 26.1 per cent from 48.8m.
TNT says the Spur project is an example of a high-grade Carbonate Replacement Deposit (CRD) style zinc system, which can achieve “significant scale”.
The Spur system and the host geological sequence is interpreted to trend right into the TNT project area, the company says.
Despite its prospective geology, TNT says the project area has never previously been explored because the geology is ‘masked’ by relatively thin cover.
A review of surrounding drilling indicates that cover material is likely to be between 20-100m thick, which means simple and relatively inexpensive testing via aircore or RC drilling.
TNT will use available geophysical data to decide whether to conduct ground geophysics or to a low-cost drill program to map the geology and geochemical trends beneath cover at Hot Spur.
TNT believes there is “significant potential” for Spur style zinc mineralisation, as well as gold-base metal mineralisation in the broader Bald Mountain alteration halo.
“We are very pleased to have added a second North American exploration project to the portfolio, particularly one in arguably the best mining jurisdiction in the world that has never previously been explored,” TNT executive chairman Brett Mitchell says.
“When you factor in Hot Spur’s proximity to some world-class mineral deposits and exploration projects, it makes for an exciting proposition.”