The Argus property (Davenport Mine) is located
in the Argus Mountain Range of Inyo County,
California, 12 miles west of the Briggs project
operated by Atna Resources.
Since 1981 the property has been explored
and drilled by the following companies: Queenstake
Resources, Tenneco Minerals and Anaconda Minerals.
The district is situated within Middle to
Late Jurassic granites and granodiorites which
form the core of the Argus mountain range.
Epithermal gold mineralization followed emplacement
of the alkali granites and associated mafics
in the Middle to Late Miocene. The mineralization
consists of epithermal oxide silicic stockworks,
quartz-wallrock breccia vein deposits with
Au: Ag ratios of 40:1. The mineralized zones
are controlled by steeply dipping fault zones
associated with a porphyritic diorite dike
which intruded the earlier igneous units.
The ore deposits are highly oxidized to depths
of 500 to +700 feet below the surface, approximately
corresponding to the local water table.
Bulldozer and backhoe trenching on the eastern
part of the Davenport mine ore zone extended
the known resources several hundred feet to
the East, with the mineralization still open
in this direction. Four trenches cut on this
section give 55 feet of .106 opt, 39 feet
of .106 opt, 45 feet of .117 opt, and 35 feet
of .159 opt gold. Four random chip channel
samples taken on the vein trend between 50
and 200 feet East of the 55 foot trench gave
assays of from .034 to .104 opt gold over
five foot widths.
Queenstake Resources internal report in 1988
states the Davenport mine had a mineral inventory
of MI&I of 468,160 tons at .074 opt gold
for 34,688 ounces of gold.