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:

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:

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:

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:

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