#United States #Beverly Hills #Buscar Company #Eon Discovery #Treasure Canyon

Expansion of the Treasure Canyon Project by Buscar Company

Buscar Company (OTC: CGLD), through its subsidiary Eon Discovery Inc., has made significant strides in enhancing its position in the Treasure Canyon mining project, located in Plumas County, California. The company announced they have staked an additional 44 lode mining claims, which encompass around 898.71 acres adjacent to its previous holdings. This expansion boosts the total land area under the company's control to approximately 1098.71 acres, a nearly fivefold increase from its prior 200 acres, which were made up of 10 existing BLM lode claims.

The newly claimed areas cover interpreted extensions of five gold-bearing quartz vein systems, namely the North, Wayne, Ada, Otto, and South veins. This decision comes after careful field mapping and analysis of satellite imagery, aiming to capitalize on the potential of these extensions. The claimed block stretches about two miles in the interpreted direction of these vein systems, although it is critical to note that further drilling has yet to validate the presence of any mineralization in these new claims.

“We've substantially increased our land position at Treasure Canyon, which provides us the necessary space to systematically explore the district,” stated Aleksandr Dekhtyar, CEO of Buscar Company. As the company progresses toward its first drilling program, this expansion is seen as a logical next step.

Planned Exploration Initiatives

The company is actively pursuing the necessary permits for a proposed 10,000-foot diamond drilling program targeting the Ada, Otto, and South vein systems. If the permitting and financing processes are successful, Buscar also intends to drill five additional holes aimed at investigating the Sulfide Ridge copper-gold soil anomaly. However, it's essential to clarify that there is no guarantee of obtaining permits or financing, nor assurance that the drilling activities will yield economically viable mineralization.

Background of the Treasure Canyon Project

Situated within the Lights Creek Mining District, which is part of the larger Plumas Copper Belt, the Treasure Canyon Project has a rich mining history dating back to the California Gold Rush. This area has been recognized for its deposits of copper and iron since the 1880s, with historical production reported at nearby Engels and Superior mines. Notably, gold-bearing quartz veins at Treasure Canyon were discovered back in 1920, focused primarily on the Ada vein, which historical records document as being impressively wide in certain zones with high-grade gold reported.

The geological composition reveals a potential connection to deposits found in nearby regions, although such extrapolations should be approached cautiously. Alongside the lode systems, historical operations have also targeted placer gold in the alluvial gravels of Lights Creek, showcasing the diverse mining opportunities in this district.

Exciting Findings on Sulfide Ridge

The Sulfide Ridge, also referred to as Lamb's Ridge, showcases geochemical signatures akin to iron-oxide copper-gold (IOCG) mineralization, paralleling deposits within the Plumas Copper Belt. Soil sampling has yielded significant copper values, revealing a coherent geochemical anomaly. Notably, previous studies by Crown Mines in the 1960s have indicated the presence of disseminated copper potential, thus adding to the project’s allure. It’s important to remember that geochemical anomalies serve as preliminary clues and don’t confirm the existence of mineral deposits.

Insights from the Qualified Geologist

Martin L. Gallon, P.Geo., underscores the importance of this expansion, stating, “The additional claims secure our interest in the interpreted strike extensions of major gold-bearing systems, paving the way for systematic exploration.” With his extensive experience in mineral exploration, Mr. Gallon affirms that the expanded claims will provide the groundwork necessary to implement a robust exploration strategy.

Conclusion

In conclusion, the recent staking of additional claims by Buscar Company marks a pivotal moment for the Treasure Canyon Project. While exploration in this early stage is inherently uncertain, the company's commitment to systematic exploration and its previous historical mining successes provide a compelling narrative for the potential of this area. Interested stakeholders will closely watch as Buscar executes its exploration plans in the inviting landscape of Plumas County.