Tri-Star Gold, a subsidiary of Tri-Star Holdings, Inc. (TSHL.PK), is focused on acquiring and developing properties to produce platinum, gold, silver, and copper. Tri-Star has a number of properties located in Nevada, Arizona, and Idaho. Three of their claims contain a copper and precious metal vein system that measures about 100 feet wide and 4200 feet long. This vein system has previously produced high-grade copper, gold, and silver ore. The company’s estimates on the potential recoverable metals at its Blue Jay claims are quite substantial.
A portion of the Blue Jay claims have a long mining history. Starting in the 1800s, mining at the Blue Jay Copper Mine began. Consisting of a six stamp mill, several underground adits, shafts, and open pits, the site was periodically mined up until the 1930s. A significant find occurred in 1950 when Consolidated Mining and Smelting (CM&S) of Trail, British Columbia, hired Robert Chastain to prospect the area. Chastain was able to mine twelve 50-ton train cars of ore that was shipped to Anaconda Smelting and Mining. The processing at Anaconda determined that the ore contained greater than 2% of copper. CM&S was encouraged by the copper values, but did not pursue the site’s potential due to an extreme decrease in copper prices.
Local geology has found the vein material consists of a quartzite component along a highly fractured and mineralized section of altered granodiorite zone. The exposed vein is over 3000 feet high, while the quartz section averages about six feet thick. The mineralization found on most of the fracture surfaces consist of copper oxide and copper sulfide minerals including azurite, malachite, chrysocolla, and cuprite with some bornite. Eight composite samples were collected across the vein, which found copper values ranging from 0.01% to 11.6%, gold ranging from 0.004 opt to 0.016 opt, and silver from 0.05 opt to 0.55 opt.
Based upon the sample results, Tri-Star feels the Blue Jay claim and the surrounding area has the potential to generate high grade ore. The site appears to be capable of producing a large tonnage copper deposit and possibly become an open pit mining property. With the positive output on the Blue Jay claim, Tri-Star is considering purchasing the Ray Mine located just south of Blue Jay, which already contains a 500 foot shaft with ancillary underground working.
Based upon the samples and geological testing performed at the site, the Blue Jay claim does have the potential to bring Tri-Star and shareholders a huge payoff. The company estimates that 352,800 ounces of gold valued at $258,284,880 and 9,765,000 ounces of silver valued at $129,679,200 can be recovered from the site. Tri-Star further estimates that 2,646,000,000 pounds of copper valued at $9,790,200,000 can be recovered, which brings the total value of the site to $10,178,164,080.
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