Arizona
Why Gold Chain?
A large-scale low-sulfidation epithermal gold system in the Oatman District and is part of the North Oatman Trend
Active district with 2 operating mines and multiple active exploration programs
The Gold Chain Project is comprised of 15 patented claims, covering approximately 282 acres and 379 lode claims on BLM land comprising about
7,480 acres (3,027 Ha)
Gold Chain
Multi-Kilometre Scale Targets – Geology
Gold Chain Project
Scientific Approach to Gold Chain
Over the last ~3 years Gold79 has taken a scientific approach to Gold Chain.
- Reviewed historic data – identified ~400 historic drill holes away from the property core; found data for ~100
- Completed initial mapping and sampling on the western portion of the property – expanded the land package east and completed deals on 3 sets of patented claims.
- Further field work identified multiple large-scale targets including the Tyro Vein System, Banner-Sheep Trail Trend, and Frisco Graben
- Work completed to date includes:
- 2,024m of drilling (2 programs)
- 704 samples
- Property-wide magnetics and radiometric survey (1,372 line km)
- The result is the definition of an Exploration Target at Tyro Main Zone, with an upside at the other large-scale targets
Tyro Vein System
Evolving into a Large-Scale Target
Approximately 800m of strike now demonstrated by drilling.
Recent drilling focused on the Tyro Main Zone– clearest visibility on an initial resource
Mapping and Sampling has identified three segments totaling ~3.4km of strike length for Tyro:
-
- Tyro (~1.4km)
- Sunrise Vein (~0.8km)
- Sunset Vein (~1.2 km)
Tyro Main Zone
Exploration Target
Tyro Main Zone Exploration Target:
- 15.6 to 31.2 Mt grading 1.5 to 2.5 g/t Au
- Based on 685.7m of drilling along with surface sampling (95 samples), sampling of underground workings (56 samples) & detailed mapping.
- Target is 1,000m along strike, to a depth of 300m with widths based on drilling and mapping
- High-grade zone intersected in GC23-28 but significance requires additional drilling – excluded from the exploration target
Note: The potential quantity and grades are conceptual in nature. There has been insufficient exploration drilling to define a mineral resource and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.
Tyro Main Zone
Holes GC23-24 & GC23-24
Tyro High-Grade Zone
GC23-28
Path to an Initial Resource
Tyro Main Zone
The Tyro Main Zone has demonstrated the best potential to develop the first resource at Gold Chain Project
Gold79 believes that to define a maiden resource at the Tyro Main Zone to a depth of approximately 150m the following work is required:
1.Trenching – 12 trenches (~400 m)
2.Core Drilling – 750 to 1,250m
3.RC Drilling – 1,500 to 2,500m
Each step will build on the previous one with final metreage of both RC and core drilling to be determined after the prior step.
The potential quantity and grade estimated for the Tyro Main Zone Exploration Target is conceptual in nature, and there has been insufficient exploration completed to date to define a mineral resource. It is uncertain if further exploration will result in the Tyro Main Zone Exploration Target being delineated as a mineral resource.
Gold Chain Project
Upside Beyond Tyro
Banner Sheep Trail Trend:
- +10 km long series of rhyolite dykes with veining centered around the historic Banner & Sheep Trail mines
- Sampling has returned multiple high-grade samples along the trend.
- Next Steps – trenching plus mapping & sampling around the Sheep Trail & Boulevard mines
Frisco Graben:
- Upper levels of a potential low sulfidation epithermal gold system over an extent of ~4km
- Sampling has returned anomalous gold over the entire target
- Geophysics indicates a sizeable magnetic low over the target
- Next Steps – CSAMT survey over the portion of the Graben
