Conclusion

The Molly Marie Prospect is a once-in-a-lifetime discovery.  Likewise, an opportunity to share in developing a property of this quality will never come again.

It has been demonstrated  that the Prospect has these features:

  • There are many VMS deposits located on Prospect; there is evidence on the surface indicating that there can be as many as 10 or more, but in Area 1, the vents likely “link” together at depth
  • Because it has been shown within that the district was mined by the Spanish and later the Mexicans, the VMS deposits are automatically “gold rich”, and in this case, very gold rich.  The Spanish would have been interested in nothing else.  This type of deposit is exceedingly rare, and is highly sought by even the largest gold mining companies because of the ability to generate huge profits with a small relative investment and minimal environmental impact, i.e. Eskay Creek.

It has been written that VMS deposits are the most understood of all deposits and their size can be determined within an order of magnitude by gravity and other geophysical methods alone.  To an interested company, the potential of the Molly Marie Prospect can be easily verified by geophysical surveys and  a moderate amount of surface chip sampling.  Even with a small quantity of surface samples of leached rock, four .02 opt Au assays have been gained by the owner.  Note: This is the same gold assay of a surface chip sample that forced the decision to drill Yanachocha.

The Molly Marie Prospect may or may not ever be a high-tonnage operation, but it does not need to be………….. it will accomplish great returns with ore grade alone.   There is the potential for the Prospect to be a large low grade high-sulfidation gold and/or a base metals mine someday, but a small footprint, low capital, fabulous return on investment is what it is now.

It is foreseen that the Prospect will be mined by shallow underground means, less than 500 feet below the surface. Like Goldfield, the best bonanza supergene gold ore at the Prospect is within 100 feet of the surface, and much has been removed as indicated by seismic survey.  However, much supergene ore may remain under basalt and at the bottom of filled-in pits where it was missed by Spanish and Mexican miners.  At the Mormon Stope, high Au grade continued to a depth of 400 feet, and the same would be expected at the Prospect, but in magnitudes-greater volume.

The expected bonanza grade and high-grade ore could be shipped off-site initially, or possibly during the entire life-cycle of the gold ore.  High-grade  ore would make this possible.  Development waste would be used for backfill, so there would be no permanent waste dumps.

Two high voltage power lines already cross the Prospect (which may have helped the VMS deposits avoid discovery), and it is about 600 yards from the west side of the property to a State Highway.

http://mollymarieprospect.com/sitephotoslater/power.JPG
Power Lines Crossing the Property

Considering the geology and history of the property together, the potential for the submarine caldera of the Molly Marie Prospect to contain  multi-million ounce gold deposits cannot be over-emphasized.  In exploration terms, the Molly Marie Prospect and the surrounding area could be the next “Big One”.

There is a great amount of information about the property that has not been included within;  please contact me for further details.

Sincerely,

Dan Welch

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