The Queen of the Hills Gold Mine is located about four miles (seven kilometers) northwest of Salmon, Idaho. The claims are easily accessible by four wheel drive vehicle from the main Salmon - Missoula highway. The property consists of seven claims, totaling 100 acres (40 hectares). Formation Metals has a 100% interest in the claims. The property is currently available for joint venture.
The Queen of the Hills property encompasses three known gold-bearing quartz veins. The Queen vein supported an underground mining operation during the late 1800's to early 1900's, and most recently on a small scale during the mid 1980's. About 75,000 ounces of gold were reported to have been produced from this vein, and workings were developed on five levels to a depth of 400 feet (125 metres). The average grades of gold production were between 0.25 - 0.5 oz. per ton.
Prior to the 1995-1996 drilling program, no exploration had been undertaken on the property other than a soil survey conducted in 1992. Results of this survey suggest that the Queen vein may be auriferous over at least 2,400 ft (750 metres).
The potential for the discovery of additional gold mineralization, both down dip and along strike is considered to be excellent, while the possible extent of the vein system suggests good potential for the definition of an economic gold deposit of small to medium size.
During the fiscal year ended February 28, 2013, the option and mineral claims were maintained in good standing. Confidentiality Agreements have been signed with parties interested in a possible joint venture.