Ophir Gold Corp (TSX.V: OPHR) formerly Minkap (TSX.V KAP) reported in their November 18th news release, results from the fall exploration program. Property wide soil and rock sampling and a magnetic survey were conducted. High grades up to 69 g/t were returned from boulder and outcrop samples. New high grade discoveries were made at “East Breccia Zone”, 100 m east and parallel to the Breccia zone; and at the “2020 Meadows Extension”, over 500 m on trend from the Breccia and East Breccia Zones along the Meadows Fault Zone. Noteworthy, are gold samples from Lee Prospect and Argillic zone, on the east side of Musgrove Creek (see map below).
The soil survey outlined a strong and extensive gold anomaly, over 600m x 400 m, north of the main Breccia zone, south of the Lee prospect and between Musgrove Creek and the “2020 extension”. In addition to gold, the samples are anomalous in Sb and As, and taken together with bladed quartz after calcite, and sheeted veins, indicates gold mineralization is hosted in the upper most parts of a low sulfidation gold bearing epithermal system. More high grade discoveries in this area are likely. Soil and rock geochemistry and alteration point to significant potential for intact high grade boiling zones at depth.
Not discussed in the news release, are anomalous rock and soil samples over the Argillic Alteration zone on the east side of Musgrove Creek. Highly anomalous gold in soils occur near a small outcrop of quartz breccia mapped at the south east end of the Argillic Alteration zone, near Musgrove Creek. Taken together, this confirms a large blind epithermal gold target awaits drilling as well as higher priority targets at Breccia, East Breccia and 2020 Meadows Extension.
Ophir’s team is competent. The share capitalization is low, currently standing at about 31 million shares outstanding of which about 17 million comprise the free trading float, and subject to Breccia financings and deal terms, about 51 million shares fully diluted. Ophir has all the ingredients needed for a high ranking amongst new early stage gold explorers. For more background information on Ophir, Breccia project, location and team, visit the website here: https://www.ophirgoldcorp.com
To summarize, results to date indicate Ophir’s Breccia property has all the hallmarks of an extensive high grade low sulfidation epithermal gold field, with potential for many millions of ounces, examples being Hishikari, Japan; Round Mountain, Nevada and Fruta del Norte, Ecuador.
Disclosure: I have taken an initial position in the shares of KAP.V and may buy or sell at any time and without notice. I have no affiliation with KAP.V of any kind. The commentary is entirely my opinion based on my research and experience.
