The Diamond Jim Mine is located in the Island Mountain mining district in northern Elko County, Nevada state. The property consists of 33 lode claims encompassing 660 acres which are now held under an option agreement. This property is centrally located to a larger claim block that has been controlled and explored by several different exploration and mining companies off and on since 1962. The Diamond Jim mine was discovered in the late 1860’s and went into production in 1934 with serious production commencing in 1954. Previous “estimated” non-NI 43.101 compliant resources were 4.25 million tons grating 2 ounces of silver per ton. This estimate was defined in 1985 by Columbus Mines Inc. The “Non 43-101 compliant resource has an in ground gross, value of $182,750,000 million worth of silver.”
The Diamond Jim Mine lies near the northern flank of the Midas Trough metallogenic trend. This trend is host to several large and world-class deposits including the Midas-Ken Synder and Jerritt Canyon mines. Epithermal vein systems and “Carlin Type” sedimentary-hosted deposits are both found within the Midas Trough.
Locally, the Diamond Jim Mine is situated in an area of structurally and stratigraphically controlled silver-lead mineralization. The main structure is a northeast trending strongly silicified and brecciated vein that dips steeply to the west. Initial mapping indicates that this structure has a strike length of at least 6800 feet (2073 m). The high-grade epithermal mineralization is reported to be predominantly along imbricate thrust faults that occur at right angles to the main contact vein. That is, northeast striking with dips of 20 to 30 degree to the southeast. The silver mineralization occurs as argentiferous galena, sphalerite and tennantite as cavity filling, minor replacement pockets, stringers and replacement lenses. Values as high as 19.1 ounce per ton silver and 14.01 percent lead over a 3.7 foot wide vein have been reported.
