Wyoming Mines (WM) has submitted a Plan of Operations for 2019 drilling on their SW2 Project to the US Forest Service in Laramie, Wyoming. The plan calls for drilling from 17 different drill sites to test the lowest 1 km of layered intrusive stratigraphy in the Lake Owen Intrusive Complex (LOC). The LOC is geologically similar to both the Stillwater Complex in Montana USA and the Bushveld Complex in South Africa. Previous drilling on the LOC intercepted up to 4.2 g/t Platinum Group Elements (PGE). The LOC is nearly untested by drilling. Targets include:
The previous operator estimated that there could be 1.4 billion tons (1.27 billion tonnes) of oxide resource at SW2 with a 1989 value of US$23/ton (US$25/tonne). Although the estimate is by no means 43-101 compliant, it does provide an idea of the magnitude of this project.
Wyoming Mines has added 3 more unpatented federal lode claims to their Castle Creek Project. WM now controls 2700 meters of what is thought to be favorable mineralized structures at Castle Creek. Although the structures are not exposed, strong gold/silver mineralization is found adjacent to those structures. The structures are marked by strong topographic lineaments. That gold-silver mineralization is hosted by veins, hydrothermal breccias, and extensive listwanite bodies that are an alteration product of a lamprophyre-like dike.
Wyoming Mines has completed their first stock offering to the general public. That offering of 2 million shares was over-subscribed, and is now closed. All 2 million shares have been sold. Wyoming Mines now has 3.55 million shares outstanding, and is well-funded for all planned activities for the foreseeable future.
Pioneering developments in green battery technologies emphasize the importance of Vanadium with respect to 21st Century electrical energy storage. The recently developed Vanadium Redox Flow Battery provides an important new market for large amounts of Vanadium. Importantly, the Vanadium Redox Flow Battery lasts 10-20 years and has no problem with overheating as do some of the lithium ion batteries. A previous intensive study done on the SW2 Project by Chevron Minerals over 3 decades ago showed that the titaniferous magnetite cumulate reported to exist on the property contains significant amounts of Vanadium. Through over 1200 sample analyses, Chevron Minerals determined that the average vanadium pentoxide content in the magnetite cumulate was about 1.2 %. This suggests that a vast resource of Vanadium exists on the property where Wyoming Mines owns 100% of the mineral rights. One report done for Chevron Minerals in 1989 estimated the presence of 1.4 billion tons (non 43-101 compliant) of surface-mineable, vanadium-bearing, oxide cumulate.
Wyoming Mines (WM) personnel have added 8 unpatented lode mining claims to their SW2 Project holdings in Albany County, Wyoming. These additional claims cover about 160 acres of well-mineralized, layered, mafic-ultramafic intrusive stratigraphy in the Lake Owen Intrusive Complex. As with the other 83 claims located last year, WM owns 100% of the mineral rights with no underlying royalty due any other entity. Those 8 claims are strategically located, covering the best historic drill intercept of Platinum Group Elements (PGE) on the property and the projection thereof. That historic drill hole (LAO-3) intercepted 3 feet (0.9 m) averaging 1.93 grams/tonne (0.06 troy ounces per tonne) of platinum + gold, including 1 foot (0.3 m) containing 4.2 grams/tonne (0.14 troy ounces per tonne) of platinum + gold. Palladium and rhodium contents were not determined.
The closest drilling completed to test the same zone mentioned above was over 1 km away. That particular drill hole intercepted 3 feet (0.9 m) averaging 0.34 grams/tonne (0.01 troy ounce per tonne) platinum + gold. The closest drill hole in the opposite direction from LAO-3, about 3,000 feet (0.9 km) away, was terminated in overburden due to poor hole conditions. Another historic drill hole (LAO-1), located 3 km away from LAO-3, tested the same zone intercepted by LAO-3. The LAO-1 drill hole intercepted 3 feet (0.9 m) averaging 0.9 grams/tonne (0.03 troy ounces per tonne) platinum + gold. Palladium and rhodium contents were not determined. Despite the continuity of mineralization that is characteristic of layered intrusive complexes, WM geologists believe that the zone of PGE mineralization intercepted in both LAO-1 and LAO-3 has not been adequately tested due to the vast distances (1-3 km) between drill holes. Historic reports also mention that many feet of sulfide-bearing drill core were never split and analyzed. A nearby analogy, the Stillwater Complex, contains PGE mineralization that extends about 40 km in strike length. The Stillwater and East Boulder mine complex is currently the only significant source of PGE in the United States. We hope that SW2 will become another significant source of PGE in the future.
In late September 2019, Wyoming Mines personnel completed a self-potential (SP) geophysical survey over a portion of the SW2 property in Albany County, Wyoming. Weathering sometimes creates variations of the natural voltage in the earth where sulfide minerals are present. As near-surface sulfide bodies undergo oxidation, a natural electrical current is created between the oxidized parts of the sulfide body that lie above the water table and the unoxidized portion of the sulfide body that lies below the water table. Variations in the natural electrical current are often in the tens to sometimes hundreds of millivolts. SP surveys have been responsible for the discovery of numerous sulfide ore bodies that are not exposed on the surface.
SP gradients delineated in the September 2019 survey suggest that up to 5 separate, steeply-dipping, tabular sulfide bodies exist on the SW2 property holdings near the base of the intrusive complex. Previous operators identified 12 separate PGE-bearing sulfide layers much higher in the intrusive stratigraphy, but they failed to drill-test the base of the intrusive complex. The base of the intrusive complex on the SW2 project is poorly-exposed at best. At the Stillwater Complex, the nearest geologic analogy, the best mineralization also lies near the base of the intrusive complex. The sulfide and oxide mineralization found at Stillwater near the base of the intrusive complex includes PGE (JM-Reef), chromite (Chrome Camp), and nickel-copper sulfides (Mouat Deposit). The recent geophysics, along with the geologic similarities to the Stillwater Complex, provides a compelling reason to test the base of the intrusive with several initial drill holes.The results of the September 2019 SP survey were interpreted by a competent geophysicist with 40+ years of experience. Although geophysics is not always a panacea, when the proper method is used and the survey is carefully implemented, the results can lead to discovery.
Wyoming Mines has started their third offering of common stock to the general public. That offering consists of a maximum of 2 million shares at US $0.15/share. This is not a solicitation to sell the common stock of Wyoming Mines, only an announcement regarding company progress and growth. There is currently no public market for Wyoming Mines common stock.
Wyoming Mines has scheduled the first Annual General Meeting for December 20th, 2019 at 12:00 Noon Pacific time at the main office. The location is 15101 S. Cheney Spokane Road, Cheney, WA. The primary topics to be voted on will be election of directors and continuation of the stock option plan for 2020. Any other pertinent company business will also be addressed.
In preparation for proposed drilling at Castle Creek in the spring of 2020, Wyoming Mines has been granted temporary approval of water appropriation from Castle Creek by the Idaho Department of Water Resources. The amount of water that can be used under the permit should be adequate for the initial drill program of 2-6 drill holes from 2 different sites . That drilling will help define the sub-surface morphology and the average gold/silver content of the hydrothermal breccia zone. Importantly, there is no evidence that the Castle Creek project has ever seen a drill hole, despite the fact that there are over 1,000 feet of historic underground mine workings in the immediate area. The permit granted by the state of Idaho Department of Water Resources will simplify the project logistics and preclude the need for a water truck. It will also save Wyoming Mines an estimated US$12,000 on water truck costs. Previous documented production from lode mining in the Castle Creek drainage in 1963 and 1964 averaged 56 g/t gold and 623 g/t silver.
Pending submission of a US$12,700 reclamation bond to the Bureau of Land Management, Wyoming Mines has been granted permission to drill at 2 sites on their Castle Creek project in Owyhee County, Idaho. The permit granted is good for a period of two years. Drilling could begin as early as March 2020 if sufficient funds are available at that time. The drilling would test the sub-surface extent of the hydrothermal breccia previously sampled at the surface. That drill program is estimated to take a maximum of 30 days.