System Type:

Low sulfidation, volcanic hosted, epithermal system, comprising of occasional quartz-calcite veins within broad zones of brecciation and stockwork veining.

Strike-Length:

South Jumbo has an exposed north-south strike length of 1,300 meters, half of which has been drilled. The system goes under cover to the north and south.

Resource: 

The South Jumbo mineral resource has an effective date of June 13, 2022, and based on the drilling results as of 31.12.2021. The inferred resource is in addition to the measured and indicated resource. Mineral resources that are not mineral reserves do not have demonstrated economic viability.  Numbers have been rounded, which may lead to some numbers not adding up exactly. The resource estimate reflects gross metal content that is not adjusted for metallurgical recoveries.

Location:

The South Jumbo resource is located on the Utah side of the Gold Springs project 1,500 metres south of the North Jumbo resource.  

Drilling:

A total of 37 holes have been drilled at South Jumbo for a total of 5,153 metres. The drill-holes are concentrated in the northern 500 metres of the exposed portion of the South Jumbo target with the southern 600 metres having seen only a few wide-spaced drill holes. The southern area will be the focus of the next drill campaign which will be designed to expand the current resource.
By the end of August 2021, the company had drilled 16 new holes at South Jumbo with the following location:

2022 Drilling results :

• South Jumbo: The results confirm the significant potential to expand the resource in various directions (link)

Highlights Included:

• 0.83 g/t gold equivalent over 18.3 meters including
  1.89 g/t gold equivalent over   6.1 meters in hole E-22-015
• 0.75 g/t gold equivalent over   6.1 meters in hole E-22-017
• 0.53 g/t gold equivalent over 13.8 meters and
  0.96 g/t gold equivalent over   6.1 meters in hole E-22-018
• 1.05 g/t gold equivalent over   4.6 meters and
  0.74 g/t gold equivalent over 26.0 meters in hole E-22-020
• 5.30 g/t gold with 12.4 g/t silver over 19.8 meters in hole E-21-012
• 1.58 g/t gold with   8.3 g/t silver over    9.1 meters in hole E-21-004
• 0.52 g/t gold with   3.3 g/t silver over 16.8 meters in hole E-21-016

Drilling results:

True thickness is estimated to be 70-100% of reported length. Grams per tonne of gold and silver abbreviated as “Au g/t” and “Ag g/t” respectively. Gold equivalent based on US$1,800/oz gold, US$25/oz silver and 50% for silver recovery.

Hole ended in mineralization. True thickness is estimated to be 70-100% of reported length.  Grams per tonne of gold and silver abbreviated as “Au g/t” and “Ag g/t” respectively.

Drill Hole Table:

Geophysics:

The gold mineralization at the South Jumbo resource is closely associated with strong north-northwest trending ZTEM (airborne geophysical survey) and CSAMT (ground geophysical survey) resistivity highs. The resource is located along the western boundary of these high resistivity features (see Maps below).

Geology: 

The South Jumbo resource area is located on the southern end of the Jumbo Trend, as defined by the ZTEM and CSAMT geophysical surveys and the surface exposures of the mineralized zone. The system may extend southward under the gravel cover near Newell Springs. Mineralization at South Jumbo occurs primarily as quartz stockwork, sheeted quartz veins, and in hydrothermally brecciated andesite forming the prominent Etna Ridge which extends from Newell Springs, on the south, for 1,300 metres to the north, where it is covered by post mineral andesite flows near the historic Etna Mine. The surface exposures of the South Jumbo mineralized zone range from 75 to 140 metres wide, with the greatest widths present along the north end of the zone. The silicified andesite locally forms large cliff outcrops along the eastern side of the ridge, where a possible fault has displaced mineralization to the east below post-mineral cover.

Structural Geology: 

Gold mineralization at South Jumbo and in the Etna Mine area is not characterized by a single prominent vein, unlike other targets in the project area where the quartz vein structures are one of the dominant mineralized features. The mineralized zone consists of silicification and re-cemented breccias and stockwork zones. With no single dominant vein in the South Jumbo system, the mineralization is characterized by a large block of silicified andesite that was shattered, stockwork veined, and brecciated by movement along two north-south structures, the Etna fault on the west and the Jumbo fault on the east. Movement along these faults created areas of extension which now host the resource at South Jumbo. Secondary structures are low-angle features dipping west and intersecting the South Jumbo zone. These structural intersections are conducive for horizontal, cigar-shaped areas of higher-grade mineralization. 

Historical Mining:

The Etna mine on South Jumbo was an important gold producer from 1938 through 1942. The Mine development consisted of a shaft, two levels, numerous pits and three winzes joining the 30 and 53 meters levels. The Etna Vein was mined through an incline shaft with 80 meters of tunneling, 30 meters below surface.

In outcrop, the vein appears as a zone of small quartz and calcite stringers coalescing into a single 3 meters wide vein underground. Etna is a complex system of innumerable, quartz-carbonate veins and stockwork zones that can be traced for more than 700 meters along a ridge.

In 1976, Lee Perry published a geology report on the Gold Springs District. Perry conducted sampling across the district, including the Etna Vein from the shaft which returned 6.81 g/t gold equivalent over 1 meter. A sample of the Etna Vein taken from a pit 46 meters to the south returned 23.81 g/t gold equivalent over 1.5 meters.

In the 1980s, a company completed a series of trenches across the Etna Vein over a distance of 21 meters and the sampling returned with the following results: 

•   6.46 g/t gold equivalent over 1.7 meters; 
•   6.03 g/t gold equivalent over 2.0 meters; 
•   3.74 g/t gold equivalent over 1.4 meters;

That same company completed 2 holes in the South Jumbo resource which returned high-grade intercepts:

•   9.60 g/t gold equivalent over 10 meters in hole E88-1 and 
•   2.68 g/t gold equivalent over   5 meters in hole E88-2.c

Geochemistry:

There has been extensive rock chip sampling along the exposure of the South Jumbo resource. Samples above 1.0 g/t gold are presented below. This represents 12.5% of the sample population.

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  South Jumbo Resource Model