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Star Project

The Star Copper-Gold-Silver project (“Star” or “Project”) is situated in Pershing County, Nevada, approximately 65 kilometers southwest of Winnemucca and 75 kilometres to the north of the Company’s flagship Fondaway Canyon gold project.  The Company holds a 100% interest in the Star project comprising 90 unpatented mining claims totaling 752.5 hectares (1,859 acres).

The Project hosts two notable mineralized occurrences:

  1. The Star Point copper mine, a historic, near surface, high-grade copper oxide (tenorite) mine that operated from the late 1940s through the mid-1950s; and
  2. The high-grade Cu-Au-Ag Star South prospect, located 2 kms south of Star Point, comprised of a series of pits, artisanal adits and associated dumps.
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Both occurrences exhibit high grade copper mineralization with the Star South prospect area additionally exhibiting high-grade gold and silver mineralization.

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To determine the potential of a mineralized body at depth, Induced polarization (“IP”) geophysical surveys were conducted in 2018 and 2020.  The IP survey results in conjunction with previous geophysical survey responses (e.g. magnetometer and gravimetric surveys), geology and structural interpretations, identified a number of discrete priority drill targets.

The priority drill targets primarily exhibit coincident low-resistivity high-chargeability response signifying a highly conductive target and classic characteristics of porphyry style mineralization and alteration.

Two drill holes totalling 976 metres were completed in 2022 with the first drill hole, SG22-01, targeting a multi-line geophysical anomaly 200m south of the Star South occurrence.  The second drill hole, SG22-02, targeted a large geophysical anomaly underlying the past producing Star Point copper mine.

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Both holes encountered indications of epithermal fluids and alteration associated with a porphyry style system and extensive structural zones marking high fluid transmissivity.  Broad zones of graphitic material occurring as bands and fracture fill were encountered and would provide geophysical responses similar to the ones targeted.

The metal enrichment and marked alteration zonation observed in hole SG22-02’s wide carbon-rich shear zone suggests proximity to a mineralizing hydrothermal event, preserving the Star Point prospect as a high priority target area.  The drill results, in conjunction with a reinterpretation of the geophysical data, refine the target area and direct a follow-up drill program to the west.

In hole SG22-01, metal enrichment and alteration appear to increase downhole.  The results guide further targeting to test the geophysical anomaly to a greater depth, and to the northwest, directly under the untested high-grade Star South occurrence.

Scott Frostad, P.Geo., is the non-independent Qualified Person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information herein.

*          The rock grab samples were collected during two separate sampling campaigns in 2011 by the current operator.  The vast majority of the samples collected were sourced from the various mine-waste dumps populating the property and represent materials extracted from the adjacent workings.  Of note, rock grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project.  Grab samples are solely designed to show the presence or absence of mineralization, and to characterize the mineralization.  The grab samples reported from the Project reflect a broad range in grade from below detection limit to the grades highlighted herein.

Samples were processed in two batches and analyzed at two certified analytical laboratory, ALS Global (“ALS”) in Reno and American Assay Laboratories (“AAL”) in Sparks, Nevada.  Rock samples were processed similarly at both labs by drying followed by crushing so 70% passed through a 2mm screen. A 250g split, was then pulverized so that 85% passed through a 75μm screen.  All samples were analysed for gold by standard fire assay using a 30g aliquot.  Digestion of a 0.5g aliquot was done by Aqua Regia and finished by 39 element ICP-AES/MS at AAL or 51 element ICP-AES/MS at ALS.  Samples with over limit silver, copper and lead were re-analysed and digested in assay grade Aqua Regia and finished by ICP-AES at ALS while over limit silver samples were re-analysed using a 30g aliquot by fire assay with a gravimetric finish at AAL.

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