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Project Highlights

  • Demonstrated regional and district-scale endowment for precious & base metals
  • Local metal endowment at Jewel Ridge with excellent, shallow drill results
  • Presence of CRD and Carlin-type mineralization
  • Overprinting of Carlin-type mineralization on older CRD mineralization enhances the precious-metal grades
  • Excellent access enables exploration year-round
  • 100%-owned less NSR (can be purchased down to 1%)

Project Overview

The Jewel Ridge property spans 728 hectares and is located on the south end of Nevada's prolific Battle Mountain - Eureka trend. The property is located in a proven mining district near excellent infrastructure with ready road accessibility and ease of access allowing for cost-effective exploration activities nearly year-round.

Region Highlights

  • Battle Mountain – Eureka Gold Trend, one of the premier gold producing belts in the world
  • Extensive CRD mining since late 1800s with remaining multi-million ounce Au & Ag potential, excellent base-metal potential
  • Carlin-type & CRD gold deposits are present within the belt
  • Nevada Gold Mines, I-80 Gold, McEwen Mining, SSR Mining are major players in the belt
  • GLM Jewel Ridge Property – located at the south end of the belt

South Eureka Gold Belt

Four publicly-traded companies are currently exploring in the SEGB:

  • I-80 Gold 7.73M oz. Au (combined, non 43- 101 compliant) from deposits within the Ruby Hill Complex, outstanding recent drill results from numerous deposits
  • Paycore Minerals 1.6M oz. Au & 38M oz. Ag recovered from 1.8MT (historic production), outstanding recent drill results from the FAD deposit
  • Golden Lake Exploration 57.2 g/t Au, 452 g/t Ag, 7.2% Pb & 12.0% Zn over 3.2M (Eureka Tunnel) & 10.72 g/t Au over 8.6M (Hamburg)
  • Timberline Resources 28.9MT @ 0.41 g/t Au totaling 0.58M oz. Au (Measured & Indicated)
  • Over 10M oz. Au is present over a 10 km strike length with the SEGB with excellent upside potential

SEGB - Overlapping Styles of Mineralization

  • Carbonate replacement deposits (CRD) & skarns related to Cretaceous intrusive activity (107 Ma)
  • Carlin-type mineralization occurred during the Eocene (36 Ma)
  • A major upside for the SEGB is the overprinting nature of younger Carlin-type mineralization on older CRD deposits
  • 52 CRD districts in the USA revealed average grades of 3.16 g/t Au; the average production grade in the SEGB for CRDs is 28.3 g/t Au
  • The Jewel Ridge property contains CRD, Carlin-type and overlapping CRD-Carlin-type mineralization

Property Geology

The deposit types of interest at Jewel Ridge are Carlin-type, sedimentary rock-hosted, gold deposits and carbonate replacement deposits. Carlin-type deposits include many deposits that occur in the Battle Mountain-Eureka Trend, Carlin Trend and other well-known mineral trends in north central Nevada. Dunderberg Shale – Hamburg Dolomite contact hosts majority of deposits on the property & at deposits currently being drilled by I-80 Gold, Paycore Minerals and Timberline Resources. North-trending structures from Paycore & I-80 Gold properties trend onto Jewel Ridge, while Pogonip group limestones host nearby Archimedes deposit (1.5M oz. Au) on I-80 property. The Jewel Ridge property hosts numerous mineral occurrences & historic mines.

Historic Drilling

  • Historic drill intercepts are from the Jewel Zone are an example of Carlin-type mineralization
  • Au mineralization has been defined over a strike-length of over 700 metres with the zone remaining open along strike and to depth

2020 - 2022 Drilling

Gold grades in JR-20-12DD and JR-22-36DD are examples of overprinting of Carlin-style mineralization on older CRD mineralization:

Target AreaHole IDFrom (m)To (m)Length (m)Au (g/t)
Eureka TunnelJR-20-12DD024.5424.549.16
 Incl.15.2118.443.2357.16
Eureka TunnelJR-21-16DD025.5425.544.37
 Incl.10.6818.788.18.93
 Incl.12.4115.092.6820.3
Eureka TunnelJR-21-23DD096.1396.130.51
Eureka TunnelJR-21-25DD0126.83126.830.41
Eureka TunnelJR-21-30DD015.6715.672.76
Eureka TunnelJR-22-32DD051.5151.510.68
Eureka TunnelJR-20-06022.8622.862.798
HamburgJR-22-36DD42.64110.2267.582.37
 Incl.42.6468.9226.285.38
 Incl.56.6665.238.5710.72
HamburgJR-20-02135.64182.8847.240.5
 Incl.152.4167.6415.240.96

Exploration Targets

Discovery Corridor

Both I-80 Gold & Paycore Minerals Have Recently Alluded to a Prospective Discovery Corridor (Blue Dashed Lines) Centred Around the North-Trending Jackson Fault

  • All of the Archimedes, Ruby Deeps, Hilltop, 426 and Blackjack deposits are contained within the broad corridor
  • The FAD deposit is situated within the corridor as well
  • The southern extension of the corridor trends directly onto the Jewel Ridge property of GLM

Lack of Deep Drilling

A total of 451 drill holes completed at Jewel Ridge to date:

  • 312 holes drilled to a depth of 150 metres or less(69.2%)
  • 128 holes drilled to a depth of 300 metres or less (28.4%)
  • 10 holes drilled to a depth of 400 metres or less (2.2%)
  • 1 hole deeper than 400 metres (0.1%)

Given the depths of bonanza-grade CRD intercepts obtained by I-80 Gold and Paycore Minerals at 500 to 600 metres below surface, there is a real need for deeper exploration and drilling at Jewel Ridge.*

2023 Exploration Priorities

  • Continue with district-scale compilation
  • Continue with assessing property-scale mineral occurrences for additional diamond drilling
  • Complete CSAMT survey when access & weather conditions permit
  • Complete UAV drone magnetic survey
  • Modeling of CSAMT and UAV drone magnetic data and integrate into a 3D model with all other exploration data to assist in determining deep drill targets
  • Follow-up diamond drilling program

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