Gordon Mining Signs Deal to Acquire Tungsten Tail Project in New Mexico
Gordon Mining has finalized an agreement to purchase the Tungsten Tail Project, which includes plans for extensive exploration work.
Overview of the Tungsten Tail Project
Gordon Mining has recently entered a definitive agreement to acquire the Tungsten Tail Project located in the southwestern region of New Mexico. This project is specifically situated within the Tierra Blanca mining district, on the eastern slope of the Black Range. It lies approximately 12 kilometers south-southeast of Kingston and 160 kilometers northwest of El Paso, Texas.
The project encompasses 41 contiguous unpatented lode mining claims, covering about 847 acres. It includes the historical Tungsten Tail mine and the central part of the Pierce Canyon fault, which is traced by USGS mapping for about ten kilometers.
Geological Insights
The geology of the area is primarily comprised of Paleozoic carbonate rocks, including the Fusselman Dolomite, overlaid by the Percha Shale. This cap has historically restricted mineralizing fluids to the carbonate rocks below. The USGS has characterized the mineral deposits at the Tungsten Tail mine as bedding replacement lenses in the Fusselman Dolomite, particularly near the contact with the Percha Shale.
Molybdenum-rich scheelite can be found alongside quartz and calcite in fractures within the mine. The spatial orientation of the mineralized zone has been noted to stretch approximately 30 feet long and 8 feet wide and dips towards the southwest. Historical examinations have indicated that the full extent of the deposit may not have been established.
Historical Mining and Current Exploration Plans
The Tungsten Tail mine, also referred to as the Silver Tail mine, was initially mined for silver before its transition to tungsten around 1940. Historical records showcase small-scale shipments of scheelite-bearing mineralization with notable grades ranging from 3% to 4% WO₃.
Current exploration efforts planned by Gordon Mining include extensive surface mapping and geochemical assessments along the fault corridor and conducting soil and rock tests to determine the mineralization potential. In addition, ground geophysical studies will be performed to follow up on the recent airborne survey data provided by the USGS.
The initial phase will also involve securing drilling permits to enable further investigation into the down-dip extension of the historical mineralized zone. Identifying drill targets will be a key focus as the project advances into this new phase of exploration.
Transaction Details
Gordon Mining's agreement entails acquiring 100% of TT Minerals, the entity managing the Tungsten Tail Project. The transaction includes a cash payment of C$125,000 and the issuance of up to 4,500,000 common shares tied to specific exploration milestones and regulatory approvals. The vendor will maintain a 2.0% net smelter returns royalty on the project, with the option for Gordon Mining to repurchase a portion of the royalty.
Supporting the project as it moves forward, Gordon Mining is committed to conducting a thorough exploration and evaluation of the Tungsten Tail Project. This acquisition amplifies the company's portfolio and bolsters its position in the emerging mining landscape of New Mexico.
