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 Exploration activities at the Gold Springs

The 2022 drill program commenced at South Jumbo in April and concluded in early November with the Company having completed 77 RC holes for a total of 16,226 meters of the 2022 drilling program: 

• 24 holes around the South Jumbo resource,
• 22 holes around the North Jumbo resource,
• 19 holes around the Charlie Ross resource,
•   2 holes on the previously untested Snow target,
•   5 holes on the Red Light target,
•   5 holes on the Horseshoe Extension target.

Assays have been received from 41 RC holes: 20 of the 24 at South Jumbo , 13 of the 22 at North Jumbo, 6 of the 19 at Charlie Ross, 2 at Snow, none from the Red Light and Horseshoe Extension targets.

The ground based CSAMT geophysical survey covering most of the 33 targets began in July 2022 and was completed in August.

2022 Drilling results :

• South Jumbo 2022 results: Expansion of the resources (see link).
• North Jumbo 2022 results: Discovery of a new area for expansion (see link).
• Snow 2022 results: Discovery of a new gold mineralization (see link).
• Charlie Ross 2022 results: Expansion of the resource (see link).

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).