With the recent acquisition of Klondex Mines Ltd., (July 2018), the company has acquired additional exploration projects in Nevada: Reef, Maggie Creek, and Hot Springs. The three projects are located along Nevada’s prolific gold trends.
The eight Reef claims in the Fairchild district of Churchill County are in the heart of an old silver mining district with production dating back to the late 19th century. The geologic formation is volcanic. Anomalous gold and silver have been detected along a siliceous reef which runs about half a mile. The claims were staked in 1986 and cover much of the exposed mineralized zone which shows evidence of pits, shallow shafts and trench work from prior examinations. The claims are surrounded with land staked by a major mining conglomerate.
Klondex Mines had been notified that the Fallon bombing range may be expanded to include the Reef claims. Final determination will be made in the future.
Hecla holds a 66.66% interest in 48 claims in the Schroeder Mountain quadrangle. The property is on three separate sections miles located about three miles northeast of Newmont’s Gold Quarry mine and 1.5 miles east of the old Queen Anne mine in the heart of the Carlin Trend. The mine and mill complex at Gold Quarry was built at an estimated cost of U.S. $200,000,000, and is considered to be Newmont’s crowning financial and mining achievement. Gold Quarry produced 1.6 million ounces of gold in 1996. Numerous small pits can be found throughout the property which have been dug on mineralized surface outcrops. (Updated June 2009)
Hecla has 42 claims at Hot Springs Point, about six miles east of the town of Crescent Valley. The claims are in a basalt-andesite geological setting close to a sulfur deposit. The original claims were staked in 1993 and were reduced by “checker boarding” in 2003 to lower filing costs while retaining the land position.