Starcore International Mines owns 100% of 54 unpatented mineral claims located in Ferry County, Washington, approximately 3 miles south of the Canadian border. The property is accessible by paved and gravel roads from Grand Forks, British Columbia (approximately 12 miles) or Curlew, Washington (approximately 15 miles). The property is bisected by a number of unimproved logging roads. The Lone Ranch property lies strategically within a 200 mile radius to Kinross Gold’s Kettle River processing facility. The Kettle River processing facilities main feed, the Buckhorn mine, is approaching the end of its mine life1 so Kinross and its exploration subsidiary, Echo Bay Exploration, are currently negotiating and exploring within a radius for complementary feedstock to maintain the operation of the facility. Due to previous exploration work done on the Lone Ranch property, the results from the HEM and the location in proximity to the Kettle River processing facility, there is a possibility to create low cost ounces and value for shareholders.
Regionally the Lone Ranch Property is found within the Republic mining district. The Lone Ranch Property is underlain by ancient metamorphosed sediments. The host rocks appear to be the youngest and least metamorphosed of the various metamorphic units which comprise the area. The Property lies along the NW flank of a dome and rocks uniformly dip 30°-60° to the west. Just west of the Lone Ranch Property, the east margin of the gold rich Republic graben is found striking NNE. The Republic graben is a 6-mile by 52-mile down-dropped feature which has been filled with Tertiary lavas and intrusives. The host rocks within the sulfide zone are metamorphosed banded siliceous sediments. Within the principal mineralized zone and its northerly extension, the host rocks are strongly banded due to metamorphic differentiation.
Structure in the area appears to be simple. Rock units strike generally North-South and dip relatively uniformly at moderate angles to the West. Dominant fracturing strikes northwest and dips 60°-65° southwest.
The major lithologic units in the area of the Lone Ranch Property occur as metamorphic rocks trending north to northeast with shallow to moderate dips to the west. These units, presumably of Upper Paleozoic age, become younger to the west.
The oldest mapped unit in the project area consists of a package of metasedimentary rocks containing white to reddish brown micaceous quartzite and white to gray marble along with lesser amounts of dark gray biotite schist. These rocks are overlain by a metavolcanic unit containing metasedimentary interbeds. Several intrusives are exposed on the property.