The White Point Target

System Type:

Low sulphidation epithermal system comprised of a sheeted quartz-calcite vein zone, surrounded by stockwork veining and brecciation.

Strike-Length:

The White Point target has a width of 200 metres and a strike-length of 400 metres before being obscured by post-mineral cover.

Resource: 

None at this time.

Location:

The White Point target is located 400 metres west of the Grey Eagle resource, on the Nevada side of the Gold Springs project.

Drilling:

In 2011, a total of 5 holes were drilled at White Point by the Company. All of the holes were lost prior to reaching the target depth due to difficult drilling conditions. The significant drill results were as follows:

Hole

From (m)

To (m)

Thickness (m)

Gold (g/t)

Silver (g/t)

HS-11-01

9.1

18.3

9.2

0.5

3.3

HS-11-02

13.7

21.3

7.6

0.62

2.4

HS-11-03

42.6

51.8

9.2

1.52

6.3

and

70.1

71.6

1.5

1.55

1.5

HS-11-05

45.7

57.9

12.2

0.72

4.4

Geophysics:

The White Point target is situated along a resistivity high anomaly which is also associated with the Grey Eagle resource, as identified in the airborne ZTEM geophysical survey (see maps below). This ZTEM feature can be traced for +2 kilometers to the northwest into areas predominantly covered by post-mineral colluvium (gravels).

Geology:

Historical mining activities at White Point focused on a 200-metre-wide zone of sheeted veins within an andesite host rock which can be traced for 400 metres on surface prior to being obscured by post-mineral cover. White Point displays complex structures which not only control the extensive sheeted vein system but have down-dropped portions of the system where it is covered by the post-mineral tuff unit. In these down dropped areas more of the system should be preserved making them attractive drill targets. This cover occurs to the south and east of the White Point where the potential extension of the sheeted vein zone is separated from the Grey Eagle resource by one of the tuff-filled, down-dropped fault blocks.  This is also the area where a major northeast trending fault system is projected to intersect the caldera margin which hosts the Grey Eagle resource. 

Structural Geology:

The structural setting at White Point is dominated by the intersection of a northeast-trending fault systems that controls the exposed vein system at White Point and is reflected in the orientation of the ZTEM resistivity anomaly with the caldera margin that hosts the Grey Eagle resource (see maps below). This projected intersection is under post-mineral tuffs.

Historical Mining:

There are numerous shafts and pits scattered across the White Point target.  These historical workings were focused on the larger veins and close-spaced sheeted vein zones.

Geochemistry:

Mineralized zones consist of 0.5 to 5-metre wide quartz-calcite veins, strongly silicified breccias and extensive stockwork veining. Several historical mines exploited both individual veins and sheeted vein zones. GRC sampling has generated grades of up to 8.4 g/t gold from these historical workings. The potential for significant bulk gold mineralization is highlighted by some of GRC pas sampling where surface channel samples returned the following values:

Length of Channel Sample (metres)

Au (g/t)

Ag (g/t)

9.14

0.329

2.7

7.62

0.854

6.66

27.4

0.627

6.66

13.7

0.885

12.93

30.5

0.600

8.27

26.5

0.696

8.6

Recent geologic mapping with associated surface sampling by GRC has further defined the White Point target which is now drill ready. The recent sampling produced the following results with gold grades greater than 0.25 g/t Au (cutoff grade of the existing resources at Gold Springs). Previous sample results of the Company can be found below as well.

Table: Recent Rock Chip Sampling Results from White Point:

Sample ID

Company

Sample Type

Description

Au (g/t)

Ag (g/t)

87220

GRC

Dump

Stockwork veining

13.9

3.7

87250

GRC

Float

Banded/bladed quartz vein

0.29

3.4

87251

GRC

Discontinuous chip, 0.5m

Banded quartz-calcite vein

1.32

7.9

87254

GRC

Discontinuous chip, 2m

Quartz vein

1.04

4.1

87262

GRC

Grab

banded/bladed sheeted quartz vein zone

0.29

12.3

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

Table: Previous Rock Chip Sampling Results from White Point:

SAMPLE

Company

Sample Type

Description

Au (g/t)

Ag (g/t)

41556

GRC

dump

1.5 metre quartz breccia

0.34

0.5

139513

GRC

7 metre channel

Clay altered andesite with 10% quartz -calcite stockwork

0.38

4.7

114375

GRC

Discontinuous chip 0.5 metres

Sheeted, banded quartz vein

0.44

1.4

114378

GRC

Discontinuous chip, 1.5m

Clay altered fault zone

0.31

10.4

114379

GRC

Continuous chip, 0.5m

Breccia with stockwork veining.

0.39

2.4

114381

GRC

Continuous chip, 1.5m

Quartz stockwork veining in relatively unaltered andesite.

1.06

16.3

114387

GRC

Continuous chip, 1m

Sheeted quartz-calcite veins

1.71

7.8

114388

GRC

Grab

Banded quartz-calcite vein.

0.42

6.1

114389

GRC

Discontinuous chip, 2m

Quartz-calcite vein.

2.03

8.6

114390

GRC

Discontinuous chip, 1m

Quartz-calcite vein.

1.41

6.4

114391

GRC

Grab

Quartz-calcite vein.

1.17

7.3

114392

GRC

Discontinuous chip, 2m

Quartz-calcite vein.

0.38

2.9

114403

GRC

Grab

Silicified breccia

0.25

1.5

114404

GRC

Float, 3x3m area

Vein float

0.75

5.1

114419

GRC

Float, 3x3m area

Banded and bladed white-light green quartz vein float.

1.31

8.4

114421

GRC

Float, 3x3m area

Banded and bladed white-light green quartz vein float.

0.78

9.1

114425

GRC

Float, 0.5m boulder

Sheeted veins

0.27

3.9

114427

GRC

Discontinuous, 1m

Calcite-quartz vein.

0.38

4.5

114428

GRC

Grab, 20cm

Quartz vein.

0.27

1.2

114429

GRC

Dump

Silicified breccia and massive quartz vein

0.43

2.8

114432

GRC

Grab, 15cm

Breccia

0.38

2.8

RM-17-103

GRC

Channel Sample

10 metre channel sample along road cut

1.02

4.1

RM-17-107

GRC

 

Stockwork veining

0.69

5.7

RM-17-108

GRC

 

Breccia

0.48

0.7

32402

GRC

3’ chip

Quartz-calcite vein

1.29

4.3

32406

GRC

Shaft dump

Quartz vein

0.87

2.7

32407

GRC

Dump

Banded quartz-adularia vein

8.44

8.9

 

 

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