Fairchild Gold (WKN A3D1D5 / TSXV FAIR) is advancing the geological evaluation of its Nevada Titan project in the Goodsprings Mining District in Nevada. The project area is located approximately 26 miles southwest of Las Vegas and encompasses a historically heavily used area with numerous old mine structures and tunnels. The company believes that the combination of field mapping, sampling and new geophysical data indicates that a larger, porphyry-style copper system with skarn-related zones may be present here.
The most recent project report, published recently, is based primarily on high-resolution drone magnetics over an area of approximately 26 square kilometers. The aim of this survey was to refine magnetic anomalies and derive prioritized drilling targets from them. At the same time, Fairchild Gold is evaluating historical evidence from the district: According to the company, there are over 100 old mines and mining sites in the area, some of which date back to the early 20th century and were developed at the time without modern geological or geophysical methods.
Fairchild Gold: Eight magnetic targets – and a “pipe target” with a clear signature
The centerpiece of the update is the evaluation of the drone magnetics, from which eight magnetic targets were derived. 3D models were used for the interpretation, which independently describe the geometry of the anomalies. The so-called “pipe target” (Target #7) is particularly emphasized: It is said to appear as a compact, steeply inclined body and thus fit a pipe or chimney structure, as can occur in porphyry-skarn-related systems.
From Fairchild Gold’s point of view, the agreement of several data levels is important. A tubular geological structure was mapped in the field, which is said to coincide with the modeled magnetic signature below ground. In addition, a strongly magnetic sample (P07) was taken directly above the “pipe target”, in which, according to the company, magnetite and garnet were detected. These minerals are typically considered indicators of skarn-related processes – and thus as a component in the porphyry-skarn model that Fairchild Gold is discussing for Nevada Titan.
Another point that the company emphasizes is the classification of the “pipe target” in the spatial context. It is described as part of a complex system and interpreted as potentially “peripheral” to a higher-grade copper-gold skarn zone in the surrounding area. For exploration, this means that Fairchild Gold is attempting to advance from visible, oxidized copper mineralization at the surface to a suspected deeper center of the system that may have fed the mineralization.
Historical mines, surface samples and a broad oxidized copper footprint
In addition to geophysics, Fairchild Gold refers to a number of historical mining sites where high-grade copper values have been documented. Areas such as Azurite, Copper Chief, Fitzhugh Lee and Copperside are mentioned, among others. The reported grades are sometimes in the high percentage range (for example, up to 34% copper at the Copperside Mine). Such values indicate locally very highly enriched oxidation mineralization – however, they are generally selective and initially only reflect what was visible on or near the surface in old mine structures.
From the perspective of modern deposit science, these historical references are still relevant: An extensive, oxidized “footprint” can be a near-surface expression of deeper hydrothermal systems, especially if it is organized along structures and intrusions. Fairchild Gold also reports that surface sampling traced a discontinuous copper trend over approximately 1.5 kilometers, supplemented by other shorter trends at other locations on the project. In summary, the company sees this as an argument that it is not just individual occurrences, but a larger mineralized system that has not yet been systematically recorded using modern methods.
To classify this, Fairchild Gold also uses the location in a region in which several large porphyry copper systems are known. In this context, mine and deposit complexes are mentioned as references that are associated with the names of major producers – such as Freeport-McMoRan (NYSE: FCX; WKN: 896476), BHP (ASX: BHP; WKN: 850524) or Rio Tinto (NYSE/LSE: RIO; WKN: 852147). Fairchild Gold emphasizes that neighboring or regional comparisons do not allow any statement to be made as to whether similar results can be achieved on Nevada Titan – they serve more as a geological framework.
Next steps: IP geophysics and drilling target prioritization
The drilling planning is not yet complete with magnetics alone. As the next step, Fairchild Gold is therefore announcing IP measurements (Induced Polarization) over selected target areas. Simply put, IP data can provide information about electrical chargeability and resistance and thus provide indications of sulfide distributions and certain rock types – a useful addition to “characterize” magnetic targets and sharpen the interpretation.
At the same time, geology, geochemistry and geophysics are to be further integrated in order to refine the target priorities. Fairchild Gold wants to transfer the large number of historical references and the newly identified geophysical anomalies into a consistent model – with the aim of concentrating the drill meters that are available in an early drilling phase as efficiently as possible on those areas that provide the greatest potential for knowledge. This moves the Nevada Titan project into a phase in which concrete drillable hypotheses are to be developed from mapping and surveying.
