Salt Lake City, UT (PRWEB) July 16, 2011
The lead geologist and Chairman of the Board of Treasure Incorporated Thursday announced to shareholders that recent findings will result in the company revising upward its estimates of the potential in its land holdings in west-central Utah.
While cautioning that the precise size and nature of the deposit is still to be determined, Matthew Ure, Chairman of the Board of Treasure Incorporated, said “All our research and site data indicate we are looking at a caldera related system, a very large and as yet an under-described geologic complex.”
He described how plugs from a shallow sub-volcanic intrusive(s) have displaced the surrounding carbonate facies and formed discrete outcroppings on the surface of this desert area in Utah’s Basin and Range.
“We found sodium chloride in close proximity with what are possibly Miocene intrusive rocks, as well as encasing the gold bearing jasperoid on the Champion Reef claims. Igneous activity provides the heat source and other elements that are necessary in gold-bearing hydrothermal systems. Sodium chloride is perhaps one of the most important constituents.”
“Imbricated limestone sequences and near bedding plane attenuation faulting provide both a chemically and structurally well-prepared system for the emplacement of IRGD (intrusive related gold deposits),” Ure said.
He also announced that the company had received geochemical analysis from ALS Mineral Services, again confirming sample values from its holdings on Champion Reef and related Raddatz-Lovering properties in west central Utah, part of the region he was describing.
The Champion Reef and Raddatz-Lovering claim blocks are situated in township 15 south range 11 west, SLBM and lie within the Detroit Mining District.
ALS prepared a 51 element assay on each of the samples, as part of the last group sent to them for independent analysis. “What is important here is the geochemistry of these samples will give us insight into the formation processes of the ore and help us to better understand and evaluate the deposit.
“At every stage of exploration, the independent analysis of our assays have confirmed our own findings," reported Ure.
“We are moving ahead with optimism and are communicating with several potential mining partners,” said Matthew Ure, Chairman of the Utah-based precious metals exploration company http://www.treasureincorporated.
About Treasure Incorporated
Treasure Incorporated is a Utah-Idaho is a precious metals and rare earths exploration company which seeks out and holds high quality properties. The corporation adds value to their holdings through research, technology, site definition and potential yield, providing a predictive model for the corporation’s mining partners.
For More Information:
Jim Ure, Communications Manager
702 11th Avenue
Salt Lake City, UT 84103