Margaux optioned the Sheep Creek gold property from Yellowstone Resources in early 2017. The property adjoins the Jersey-Emerald property to the northeast, and covers the majority of the historic Sheep Creek Gold Camp.
Historic production from the Sheep Creek camp is 736,000 oz Au (plus Pb, Zn, Ag) at an average grade of 14.7 g/t Au. The majority of the gold production was during the periods 1899-1916 and 1928-1951, with historic mining from 34 separate high-grade gold-bearing quartz veins.
Margaux’s property consists of 69 crown grants and 8 mineral claims which host 26 of the 34 past-producing mines in the camp. Historic gold production from Margaux’s property totals 690,000 oz Au.
Veins in the Sheep Creek camp are orogenic gold veins which are considered analogous to the Barkerville District in age and style. In contrast to the Barkerville District, there has been little modern exploration at Sheep Creek.
The Sheep Creek veins are high-grade, steeply dipping, sub-parallel, low-sulfide quartz veins. Individual veins averaged approximately 1 m in width, and were mined over strike lengths up of up to 550 m and up to 500 m depths. The veins are east-northeast trending veins which occur within a 7.5 km long north-south belt. The company’s Ore Hill property covers the southern portion of the Sheep Creek belt.