Ready Cash

Prospect, Active

Commodities and mineralogy

Main commodities Ag; Au; Cu; Pb; Sn; Zn
Other commodities Sb
Ore minerals argentite; arsenopyrite; cassiterite; chalcopyrite; covellite; galena; pyrite; pyrrhotite; sphalerite; tennantite; tetrahedrite
Gangue minerals calcite; quartz

Geographic location

Quadrangle map, 1:250,000-scale HE
Quadrangle map, 1:63,360-scale A-6
Latitude 63.15
Longitude -149.86
Nearby scientific data Find additional scientific data near this location
Location and accuracy The Ready Cash prospect is at an elevation of about 2,700 feet on Canyon Creek, a northern tributary to Ohio Creek. The map site is in the SW1/4 of sec. 28, T. 20 S., R. 12 W., of the Fairbanks Meridian. This is locality 21 of Cobb (1978: OFR 78-1062).

Geologic setting

Geologic description

Ross (1933) examined the site and reported that the bedrock in the vicinity of the tunnel is uniformly a coarse, somewhat chloritic rock without discernible bedding, which microscopic examination shows to be altered andesite or related rock. Three segments of quartz veins exist. The segment on the west side of Canyon Creek is 3 feet wide, strikes about N 58 W, and stands vertical. There are several minor quartz stringers and lenses of oxidized sulfide south of this vein. The main vein contains rather sparsely disseminated arsenopyrite, galena, and other sulfides. A sample yielded on assay 0.01 oz. of gold and 4.20 ounces of silver to the ton and 0.52 percent of lead. Some of the rusty lenses south of it were probably high in sulfide before oxidation, but none of these are more than a few inches wide and apparently none much more than 2 feet long.
Another vein segment is exposed for about 30 feet on the east side of Canyon Creek about 80 feet above the tunnel portal. It strikes about N 25 E and stands vertical. Its walls are curved so that their strike ranges from N 40 E to N 20 E. At the north end of the exposure the vein is about 10 feet wide. A sample contained a trace of gold and 0.70 ounce of silver to the ton. Its lead content was not determined but is obviously small. About 25 feet to the south the vein has a width of only 4 feet. On the east wall there are slickensides which dip 65 N. Sulfides are less abundant in this vein segment than in that to the west and occur mainly in small streaks and bunches. They include arsenopyrite, pyrite, and some chalcopyrite. Most of the quartz has been fractured and locally is stained and impregnated with the oxidation products of iron, copper; and manganese. The tunnel below trends N 83 E for 169 feet and hence extends well beyond the line of the vein as exposed 80 feet above it. The tunnel exposes only broken ground and minor stringers of quartz and calcite with small amounts of sulfides, mainly pyrite (Ross, 1933).
The third vein segment is exposed on the hillside above and east of the segment just described. A tunnel in the face of a steep bluff has been driven 60 feet to this vein, and a drift tunnel off from it to the southeast follows the vein for a distance of 16 feet. The vein as exposed in this tunnel is 5 feet wide, strikes N 20 W, and dips about 60 NE. The face of the lower tunnel is within 120 feet of the point where this vein would be if projected northwestward with the same strike and dip. A sample across the southeast face of the drift yielded on assay a trace of gold and 1.80 ounces of silver to the ton, but no lead. This vein contains numerous stringers and bunches of sulfides, some as much as 10 inches wide. They include arsenopyrite, pyrrhotite, pyrite, galena, chalcopyrite, and sphalerite, listed roughly in the order of decreasing abundance. Most of the bands of nearly pure sulfide consist mainly of arsenopyrite. Some of the pyrite is in imperfect cubes as much as an inch wide. There are small amounts of supergene covellite. The gangue is white, rather coarsely crystalline quartz, somewhat fractured (Ross, 1933).
The country rocks in the area of the Ready Cash prospect consist of several hundred meters of Upper Triassic interbedded limestone, marble, basalt, metachert, and argillite. The strata are intruded by quartz diorite porphyry dikes of probable Late Cretaceous to Early Tertiary age, and by Tertiary tourmaline-bearing granite. The Ready Cash prospect consists of quartz-calcite-sulfide veins, and pods of skarn. The ore minerals consist chiefly of arsenopyrite, pyrite, chalcopyrite, galena and sphalerite, accompanied by minor amounts of tetrahedrite, tennantite, argentite, and cassiterite. The skarn consists of pyrite, pyrrhotite and chalcopyrite in a matrix of calc-silicate minerals and sparse quartz. The deposit can be subdivided into: a) copper-rich pods of skarn having grades of 0.5 to 0.9 percent copper (Hawley and Clark, 1974); b) arsenopyrite-quartz veins, containing 0.08 ounce of gold per ton, 1.06 ounce of silver per ton, and 0.33 percent copper; and c) high silver-lead-tin veins containing up to 20.8 ounces of silver per ton, 4.0 percent lead, and 0.5 percent tin (Hawley and others, 1978). The several types of deposits may be related to two or more magmatic events in the area.
The deposit at the Ready Cash prospect is more or less continuous with the deposit at the Canyon Creek prospect (HE055), encompassing an area about 2.5 miles long and 1 mile wide.
Geologic map unit (-149.862293644428, 63.1495214227342)
Mineral deposit model Cu skarn and younger Ag-Pb-Sn veins (Cox and Singer, 1986; models 18b, 15b)
Mineral deposit model number 18b, 15b
Age of mineralization Probably Late Cretaceous and (or) younger.
Alteration of deposit There probably have been multiple alteration events; including skarn formation and silicification.

Production and reserves

Workings or exploration
The ground wras located in May 1915 by Otto Tangel, J.P. Frisly, William Murry, and E. Miller; later ownership was acquired by J.H McCallie, who patented the property in 1927; there are nine claims covering an area of 132.627 acres, developed by two tunnels and nine discovery pits. It appears from the description by Capps that all this work had done prior to his visit in July 1917. The two
tunnels and their relations to the veins found are shown in plate 26 of Ross (1933). As mentioned above the two tunnels are 169 feet and 60 feet long, with a 16 foot drift (Ross, 1933).
The deposit can be subdivided into: a) copper-rich pods of skarn having grades of 0.5 to 0.9 percent copper (Hawley and Clark, 1974); b) arsenopyrite-quartz veins, containing 0.08 ounce of gold per ton, 1.06 ounce of silver per ton, and 0.33 percent copper; and c) high silver-lead-tin veins containing up to 20.8 ounces of silver per ton, 4.0 percent lead, and 0.5 percent tin (Hawley and others, 1978).
Indication of production None
Reserve estimates The two principal silver-rich veins on the prospect contain approximately 200,000 tons of ore carrying 10 to 20 ounces of silver per ton and 0.5 percent tin (C. Hawley, personal communication, 1999). This estimate does not include the skarn deposits.

References

MRDS Number A011331

References

Reporters N. Van Wyck (Stevens Exploration Management Corporation); F.H. Wilson (USGS)
Last report date 3/28/2016