System Type:

Low sulphidation, epithermal, calcite-quartz vein system.

Strike-Length:

Unknown as the surrounding area is covered by post-mineral colluvium (gravels).

Resource: 

None at this time

Location:

The Horsetail target is located on the Nevada side of the Gold Springs project, 450 meters southwest of the main workings at the past producing Horseshoe mine.

Drilling:

None

Geophysics:

The Horsetail target is associated with the same resistivity high anomaly as the historical Horseshoe mine, as identified in the airborne ZTEM geophysical survey (see maps below).

Geology:

The Horsetail target consists of quartz-sericite altered andesite host rock surrounded by andesite float containing calcite-quartz vein material. A large silicified andesite ridge outcrop, approximately 30 meters by 10 meters, with zones of stockwork follows a N-S trending fault zone suggesting the potential for widespread mineralization. Much of the area is covered by post-mineral gravels but in the areas of outcrop exposure an adit and shaft exploited a 0.5-meter-wide light-green, banded quartz-calcite vein similar to those seen at the historic Horseshoe mine. 

Structural Geology:

The Horseshoe vein system follows a north-south trending structure which is part of the much larger Horseshoe structural corridor.  The Horsetail vein target parallels the historic Horseshoe mine structure.

Historical Mining:

Much of the area is covered by post-mineral gravels but in the uncovered area an adit and shaft exploited a 0.5-meter-wide light-green, banded quartz-calcite vein similar to those seen at the historic Horseshoe underground mine.

Geochemistry:

Sampling of the vein material produced values as high as 14.2 g/t gold with 52 g/t silver. Horsetail represents a significant new target with the high-grade vein structure and the surrounding silicified, brecciated and stockwork veined host rock. GRC sample results with values greater than 0.25 g/t Au (cutoff grade of the existing resources at Gold Springs) are listed below:

Table: Recent Rock Chip Sampling Results from Horsetail:

A cutoff grade of 0.25 g/t Au was used, which is the cutoff grade of the nearby Grey Eagle resource.

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