Tremor

Highlights:

Tremor is a new target in the northern extension of the Jumbo Trend where we have discovered a new gold system named an Intrusive-Related Gold System (IRGS).

This IRGS was first noted in hole J-21-006 and later confirmed in hole J-21-015.

J-21-006 Highlights include:

  • 5.95 g/t gold with     66.5 g/t silver  over 24.4 meters, which included 
    27.30 g/t gold with 259.4 g/t silver  over   4.6 meters, and
    0.52 g/t gold with       4.7 g/t silver  over 82.3 meters

J-21-015 Highlights include:

  • 1.42 g/t gold equivalent over 33.5 meters within the vein system, which includes, 
    3.26 g/t gold equivalent over 10.7 meters and
  • 0.64 g/t gold equivalent over 54.9 meters within the intrusive, which is still open at depth

Location:

This new gold system is situated along the northern extension of the Jumbo Trend of the large Gold Springs project of 8000 ha located on the border of Nevada and Utah.

Description:

Unlike the current resources at Gold Springs the “Tremor” target is an Intrusive-Related Gold System situated along the north extension of the Jumbo Trend in Utah where a strong CSAMT high resistivity anomaly extends for 1,200 meters.

Intrusive-Related Gold Systems (IRGS) form at deeper levels with the gold controlled by thin stockwork veins, breccias, or disseminated within the intrusion. IRGS are known to form large gold deposits. The new “Tremor” target has magnetite as a dominant component deeper within the intrusive and the alteration is characterized by secondary biotite and potassium feldspar. It is possible that the two systems, epithermal and IRGS, are of different ages and only related spatially. From the results received thus far both stockwork veining and disseminated gold appear to be components of this new discovery. The gold-bearing intrusive was emplaced along a strong north-south structural corridor and has been traced in drill holes for nearly 600 meters. Intercepts of the intrusive range from 3 to 280 meters with the thickest intercepts bottoming in the intrusive. Holes in the “Tremor” target area also intersected rhyolites and mafic dikes which have been shown to contain gold mineralization within the contact zone of the “Tremor” intrusive.

Historical Mining:

Tremor is a northern extension of the North Jumbo and the historical work is described under the North Jumbo Target.

Drilling:

The Company has completed 18 holes at “Tremor” designed to test the extent of the intrusive hosted gold system.

Drilling results:

GRC has received assay results from 3 holes and is waiting for assays on the remaining 15 holes at “Tremor”. Once those assays are received, the Company plans to drill additional holes at “Tremor”

Drilling highlights include:

Hole

Host Rock

From (m)

To (m)

Thickness** (m)

Gold (g/t)

Silver (g/t)

Gold Equivalent*
 (g/t)

J-21-006

Vein

118.9

143.3

24.4

5.95

66.5

6.87

including

Vein

129.5

134.1

4.6

27.3

259.4

30.9

and 

Intrusive

192.0

274.3

82.3

0.52

4.7

0.59

including

Intrusive

192.0

217.9

25.9

0.68

5.7

0.76

J-21-015

Mixed

108.2

271.3***

163.1

0.93

  5.1

1.00

including

Vein

108.2

141.7

33.5

1.32

  7.4

1.42

including

Vein

109.7

120.4

10.7

3.07

13.5

3.26

Including

Vein

109.7

114.3

4.6

5.89

20.5

6.17

including

Intrusive and contact zone

147.8

271.3***

123.5

0.87

  4.7

0.94

J-21-016

Vein

  93.0

102.1

9.1

1.76

44.0

2.36

including

Vein

  94.5

  99.1

4.6

3.08

83.0

4.23

And

Rhyolite

132.6

147.8

15.2

0.41

18.6

0.67

*   Gold Equivalent calculated at $1,800 gold and $25 silver
**  True thickness is estimated to be 70-90% of total thickness
*** Hole ended in gold mineralization

Drill hole table:

Hole ID

Easting - UTM NAD 27

Northing

Elevation Meters

Azimuth

Inclination

TD (m)

J-21-010

761324

4199760

2131

270

-70

329.2

J-21-011

761328

4199693

2135

245

-70

329.2

J-21-012

761254

4199690

2130

270

-80

329.2

J-21-013

761335

4199763

2129

90

-65

329.2

J-21-014

761389

4199615

2111

270

-60

274.3

J-21-015

761334

4199566

2123

270

-75

271.3

J-21-016

761337

4199514

2111

290

-75

259.1

J-21-017

761285

4199799

2140

270

-80

274.3

J-21-018

761300

4199902

2141

0

-90

326.1

J-21-019

761308

4200011

2155

270

-70

326.1

J-21-020

761345

4200307

2189

270

-60

326.1

J-21-021

761336

4199837

2126

270

-70

326.1

J-21-022

761366

4199659

2154

0

-90

243.8

J-21-023

761349

4199466

2120

290

-70

326.1

J-21-024

761361

4199537

2113

270

-75

259.1

J-21-025

761343

4200043

2177

270

-75

274.3

J-21-026

761281

4199523

2105

290

-65

243.8


Summary of Vein and Intrusive Intercepts

GRC geologists have completed detailed logging of the drill cuttings demonstrating the continuity of the “Tremor” intrusive both along strike and at depth, as well as highlighting the strike extension of the vein zone for over 200 meters. The intrusive and the vein remain open to expansion along strike and at depth.

Hole ID

Intrusive Intercept

Vein Intercept

Hole ends in Intrusive

J-21-006*

Yes

Yes

Yes

J-21-010

Yes

No

Yes

J-21-011

Yes

Yes

Yes

J-21-012

Yes

No

No

J-21-013

Yes

No

No

J-21-014

Yes

No

No

J-21-015*

Yes

Yes

Yes

J-21-016*

Yes

Yes

No

J-21-017

No

No

No

J-21-018

Yes

No

Yes

J-21-019

Yes

No

No

J-21-020

No

No

No

J-21-021

Yes

No

Yes

J-21-022

Yes

No

No

J-21-023

Yes

No

Yes

J-21-024

Yes

No

Yes

J-21-025

Yes

No

No

J-21-026

Yes

No

No

*  Assays received

Resource:

None at the time

Structural geology:

“Tremor” is located on the northern extension of the Jumbo Trend. This trend follows a large north-south structural zone which also appears to control the emplacement of the intrusive body hosting the “Tremor” gold system. Drilling has demonstrated east-west structural offsets to the intrusive measured in 10s of meters, but additional drilling will be required to clearly understand the extent and magnitude of these offsets.

Geophysics:

The Jumbo Trend is highlighted by a large north-south, high resistivity, geophysical anomaly identified by both the airborne ZTEM and ground based CSAMT surveys. “Tremor” occupies the northern extension of this resistivity anomaly which remains open to the north. In addition to the resistivity “Tremor” displays a magnetic high signature related to the magnetite content of the rock. The magnetic high extends several kilometres north of any of GRC’s drilling.

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