Discovery Of The Silver Creek Molybdenum Deposit Rico, Colorado

Anaconda exploration in the Rico mining, district from 1978 through early 1983 resulted in discovery and partial definition of the Silver Creek molybdenum deposit. Approximately 44 million tons of 0.31% Mo are drill-indicated, and projections suggest that the deposit exceeds 200 million tons. No source intrusion has been intersected by drilling, but its composition is suggested by silicic alkali-alaskite porphyry dikes of intramineral age observed at the surface and in drill holes. Age data and fluid inclusion studies indicate that the deposit was formed 5.2 ±2 m.y. ago and that more than 1,200 meters of cover has since been removed by erosion. Both emplacement of the hypothesized source intrusion, and the geometry of the molybdenum deposit, were influenced by three major intersecting faults. The most significant of these, the Last Chance fault, juxtaposes Precambrian quartzite and greenstone against Pennsylvanian clastic and calcareous sediments within the mineralized zone. Wallrock alteration associated with the deposit is characterized by potassic, phyllic, and propylitic zones in non-calcareous rocks, and garnet and anhydrite-diopside zones in the carbonates. All +0.2% Mo mineralization is within the potassic and garnet zones. Pre-mineral faults that intersect the deposit contain the only surficial molybdenum, tungsten, and fluorine anomalies. Pervasive dispersion haloes of the indicator elements were intersected at depth by drilling in the discovery phase of exploration, and are particularly well-developed in the hanging wall of the Last Chance fault.