Gold Springs Resource

Gold Springs is located in the USA, on the Border of Nevada & Utah, One of the Best Mining Jurisdictions in the World (low political, environmental, and tax risks).

Large Project of nearly 8000 ha with 4 Historic Mining Districts and 33 Gold Targets: 6 with estimated resources of 1 million oz M&I wide open for expansion, and 27 other high-potential gold targets.

The resources all outcrop or are near the surface and could be extracted by low-cost open pit mining and a technically simple heap leach operation. In general, a low stripping ratio allows a low mining cost, coupled with heap leach low processing cost for gold extraction, resulting in favorable economics and a low AISC (All In Sustaining Costs).

2022 Ongoing Drilling Program

20’100 Meters RC (2 RC Drills) and 2’000 Meters Core (1 Core Drill) with the Objectives:

1. The RC Drill No 1 to expand our 6 existing resources, especially at North Jumbo, Tremor, South Jumbo, Charlie Ross and White Point.

2. The RC Drill No 2 to drill on 4 new targets at Homestake, Snow, Horseshoe Extension, Midnight.

3. The Core drill will be used to collect material for further metallurgical testing of all our resource areas while testing the depth extension of some significant resistivity anomalies beneath them.

Our 2022 exploration program also includes the expansion of CSAMT geophysical surveys on various targets and the completion of baseline studies to advance the mine permitting process. 

The Company has now completed 65 holes totaling 13,810 meters of the planned 21,000-meter program. Drilling has targeted the North and South Jumbo resources, the Charlie Ross resource, the Red Light and the Snow targets.

GRC is now starting to drill the first-ever holes on the Horseshoe Extension target located between two of the three largest historic producing mines in the district (the Horseshoe and the Homestake mines).

2022 Drilling results :

• South Jumbo: The results confirm the significant potential to expand the resource in various directions (link for information).
• North Jumbo: The results confirm the discovery of a new gold mineralization area extending 200 meters south of the resource (link for information).

Five points:

1. A Significant Potential for Growth: In addition to our 6 resources wide open for expansion, we have already identified 27 other high-potential gold targets, all covering only 40% of the property.

2. De-Risking the Project in Parallel to Resource Expansion as major mining companies do by advancing the permitting process, which is rare for an exploration company.

3. A Unique Financial Instrument to rapidly advance the project by giving investors the opportunity to invest In Gold Springs with a guarantee (link for more information).

4. A Low per Ounce Discovery Cost: In 2021, $11 in total, $9 if some fixed expenses are deducted.

5. No Royalties on the Property (except a 3% NSR on a small private land in Grey Eagle which represents less than 3% of our total resource).

Interview with Lobo Tiggre

After this interview, we sent Lobo some additional information on the two main points that concerned him: 

TOPOGRAPHY OF GOLD SPRINGS:
The 3D map Lobo took from our website was designed only to locate all the targets on a small map and not to give the objective topography of the project. It is not to scale, neither in height, nor in width, nor in length. To get an objective idea of the topography of the area, everyone can look at our Jumbo Trend Video here (see above), or even on Google Earth if you look for Jumbo mine Utah. 

COMPANY’S OBJECTIVE:Lobo mentioned twice the Marathon project located Newfoundland as a comparison with Gold Springs and our Company’s Objective. We disagree with him as there are at least 4 major differences with Gold Springs when you analyze their feasibility study. The first two concern the high Capex and high Striping ratio of 7.22/1 that Gold Springs does not have. The third concerns royalties: 0 NPI (Net Profit Interest) on Gold Springs and 7.5% NPI on most of the Marathon property. 2% NSR (Net Smelter Return) on the entire Marathon property while Gold Springs has a 3% royalty on only 1% of its current resource. The last important difference concerns the permitting. Gold Springs has no threatened and sensitive species, but Marathon has several threatened and sensitive species. The Caribou has been especially assessed as special concern  as the project is predicted to result in significant adverse effects on them. This project has also 3 other Species at Risk (SAR) and 3 other species of conservation concern (SOCC).