Here's a report on geology; (from Alaska DGGS)
Geologic description
Bedrock at the head of Blowback Creek is mainly Lower Cretaceous sandstone, shale, and siltstone, along with less-abundant quartzite (Reifenstuhl and others, 1998). The northwestern contact of the Tertiary Hot Springs granite pluton and its hornfels aureole is 3,000 feet to the south.
A sample (97SL086) of quartzite with siderite collected by ADGGS on a ridge at the head of Blowback Creek contained 2,720 parts per billion (ppb) gold, 33.8 parts per million (ppm) silver, 256 ppm arsenic, 480 ppm bismuth, 8,740 ppm copper, 3,400 ppm manganese, and more than 15 percent iron (Liss and others, 1998). There has been extensive exploration by industry around Hot Springs Dome and at the Barrett prospect (TN103).
Note: 1000 ppb = 1 ppm ( part per million). There are 1 million grams in a metric tonne.
So what?
2,720 parts per billion is 2.720 grams per metric tonne. My calculator says gold at $4300 per ounce is running $4300/31.1 = $138.26 per gram x 2.72 grams = $376.07 per metric tonne.
- Geowizard