The Gasado North Project comprises two license applications on Gasado Island, two north of the operating Gasado epithermal gold mine.
The deposit was discovered in 1989 by Ivanhoe geologist Doug Kirwin and his team after they found the remarkable Lighthouse Vein on the south coast.
The applications have an underlying clay mining right and a portion of the Gasado mine licence. Several vein systems have been identified on the island by Ivanhoe geologists in the 1990s, with most undrilled. The application area largely comprises rhyodacitic ignimbrite, with the potential for blind discoveries. A float sample of quartz-sericite-pyrite altered breccia within a clay quarry returned a grade of 14.3 g/t Au and 748 g/t Ag
Field visits have highlighted the important spatial and temporal association between clay alteration and mineralisation with a pyrophyllite-dickite clay mine located above the Lighthouse Vein discovered on the coastline of Gasado Island by Ivanhoe geologists in 1989. Close to the historical clay mine, topographically higher and associated with residual silica-alunite bluffs are Japanese era underground adits for gold where a recently sampled creamy silica-alunite sample assayed 5.67g/t Au.