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Project Highlights

  • Located near excellent infrastructure with ready road accessibility and ease of access
  • Located in proven mining districts with extensive current production and previous mining history
  • Reliable and extensive data base from previous exploration programs allowing for efficient target prioritization and an expedited drill phase
  • Cost-effective exploration activities nearly year-round

Project Overview

Jewel Ridge is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, strategically along strike and contiguous to the former Barrick Gold, two million gold ounce Archimedes/Ruby Hill mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south. The property consists of 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1800 acres). The Jewel Ridge property contains several historic small gold mines which align along a north-south-trending stratigraphic contact of Lower Paleozoic sedimentary rocks, as well as several other gold-mineralized zones with a variety of structural and lithological controls. Multiple targets occur on the property with Carlin-type gold mineralization.

Project History

Discovered in 1854, the Eureka Mining District produced about 1.65 million ounces of gold from 1870-1890. Rich oxidized bonanza ores mined near the surface accounted for most of the district’s production, they averaged about 1.1 oz Au/ton ( 38 Au g/t), 27 oz Ag/ton (926 Ag g/t) and 17 % Pb (Shawe and Nolan, 1989).

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. Jewel Ridge is located adjacent to, and south of, the former Ruby Hill gold property, which was operated by Homestake Mining Company from 1997 until 2002 and produced about 680,000 ounces of gold from the Archimedes open pit. In February 2007, Barrick Gold Corp. commenced production on a 1.1-million-ounce gold resource from the adjoining East Archimedes deposit. From 1976–2012, production from these Carlin-type deposits in the Eureka district was approximately 44.9 tonnes (1.38 million ounces) of gold (NBMG, 2014).

Carlin-Type Gold Mineralization

Signature characteristics of Carlin deposits include:

  • Favorable sedimentary rocks (silty limestone & limey siltstones)
  • Favorably faulted structure
  • Gold-bearing hydro-thermal solutions
  • Nearby gold deposits

Project Geochemistry

The Jewel Ridge project features high-grade Au-Ag-Pb-Zn carbonate replacement deposits alongside gold-only Carlin-type mineralization. During 2020 and 2021, project-scale soil and outcrop sampling was completed. New targets have been identified and historic targets have been delineated.

Primary Targets

Eureka Tunnel Target

The Eureka Tunnel target was picked out early by Golden Lake personnel based on the presence of high-grade CRDs and the potential for Carlin-type mineralization. The target is found in a north trending valley. The west side of the valley is pockmarked with numerous shafts, prospects, and tunnels into CRDs, and is a prospective target area. The east side of the valley has been the primary focus of our drilling since 2020. Upon discovery of the bonanza-grade CRD in JR-20-12DD (3.2 m at 57.2 g/t Au, 452 g/t Ag, 7.2% Pb, and 12.0% Zn), substantial efforts were put into understanding the mineralization. JR-21-16DD targeted the same CRD and intercepted Au-Ag-Pb-Zn to Au-Zn CRDs over 10.08 m with 2.68 m at 20.03 g/t Au. 3D modelling of the intercepts suggests a northeast trend to the zone, which will be followed up in 2022. 

In 2021, work included taking over 100 rock and soil samples, detailed geologic mapping, mapping of the underground workings, and 4267 meters of diamond drilling. Drilling with core has allowed the team to establish some of the fundamental controls on the mineralization. Carlin-type mineralization is hosted in the upper plate of the low-angle Pyrrho fault that places Hamburg Dolomite on top of the Dunderberg Shale. The high-angle Empiricus fault down drops the Pyrrho fault by ~50 m, resulting in deeper intercepts averaging from 0.3 to 0.7 g/t Au. The silicified and brecciated Carlin-type mineralized zone extends over 260 m in length and 90 m in width, and remains open for expansion. Soil and rock sampling suggest a large footprint. The main goal for drilling at the Eureka Tunnel in 2022 will be to determine the potential size of the mineralized zone.

Jewel Ridge Target

The Jewel Ridge target is one of the premier Carlin-type opportunities on the property. The target was originally identified by Homestake after their discovery of the Archimedes mineralization in the 1990’s. Carlin-type gold mineralization is hosted by silicified limestones of the Pogonip group, which hosts the mineralization at the Archimedes mine. The target hosts structurally and stratigraphically controlled high-grade gold that remains open for expansion along strike and at depth. To the south, historic drillholes feature longer intercepts of lower-grade gold, with high-grade pockets, which remain open in all directions.

Soil sampling on Jewel Ridge during 2020 and 2021 resulted in the discovery of extensive areas of anomalous Carlin-type pathfinder elements, including Sb, Hg, As, and Tl. These areas covered over 1500 m north-south, and 500 m east-west. Some of the strongest geochemical anomalies coincided with favorable stratigraphy, structure, and alteration that is undrilled. There remains significant untapped exploration potential on Jewel Ridge. It is a high-priority target for drilling in 2022. 

Catlin Target

The Catlin target was the site of the last major underground mining effort on the Jewel Ridge property. The historic miners were interested in the CRDs, which contain high-grade gold (maximum of 39.2 g/t Au in dump samples), silver (maximum of 732 g/t Ag in dump samples), lead (maximum of 13.15% Pb in dump samples), and zinc (maximum of 24.80% Zn in dump samples). Expansive and ambitious plans were halted in 1920 when silver crashed to $0.80/ounce in June. 

Historic underground maps suggest the existence of a large complex of workings that connected the Catlin Shaft (122m deep) to the Atlas Shaft (244m deep), which is 475 m to the northwest. Other notable workings that were connected into this large network include the Dunderberg Decline, ~220 m north of the Catlin Shaft, and the Home Ticket Shaft, ~200 m to the northwest. The United States Geological Survey noted that the ore from some of these mines contained ores similar in metal grade and characteristics to the rich ores of Ruby Hill (Curtis, 1884; Nolan, 1962). Historic cross sections show that some CRD chimneys were continuous over 60 to 120 m. The team believes this large network of workings to be the premier CRD target on the Jewel Ridge property. Planning and targeting are ongoing, using a combination of historic datasets and surface mapping.

Carlin-type mineralization is also possible at the Catlin target. Surface mapping and sampling has detected the presence of auriferous jasperoid and silicified dolomite. Some historic drillholes dating from the 1970’s and 1980’s intercepted zones of what appears to be low-grade disseminated gold. We will incorporate the knowledge derived from exploring for Carlin-type deposits elsewhere on the property to the Catlin target. Drilling is planned for 2022.

Hamburg Target

The Hamburg target is the site of hybrid CRD and Carlin-type mineralization. The Hamburg mine is one of four modern mines located on the contact between the Hamburg Dolomite and Dunderberg Shale, which is a very favorable location for Carlin-type mineralization and CRDs. Significant mining activity took place here intermittently from the 1880’s to the 1910’s. In the 1980’s, Norse-Windfall generated a modest production from two pits that exploited both the Carlin-style mineralization and CRD bodies. With a small producing mine and high-grade gold detected over significant lengths in prior drillholes, the Hamburg target is an excellent location to explore for more extensive Carlin-type mineralization.

In 2022, the drillhole JR-22-36DD drilled through the Dunderberg Shale into the Hamburg Dolomite and returned an average of 5.38 gpt Au over 26.37 meters. The highest grades were associated with orpiment and realgar hosted in the Dunderberg near the contact with the Hamburg. This intercept contains some of the highest grades intercepted on the property while being hosted in the underexplored Dunderberg shale. As 2022 advances, further work will be put into understanding the mineralization in JR-22-36DD and evaluating the potential for similar mineralization within the Dunderberg across the property.

Additional Targets

A & E Target

The A & E target area is approximately 400 m southwest of the Eureka Tunnel Target. The area is a site of two significant historic mines, the Sterling Tunnel and Alexandria Shaft, aside from many smaller workings. Sampling of dump material indicates that the CRDs in this area are rich in silver and can host high-grade gold (29.49 g/t Au from the Alexandria dump) aside from notable lead, zinc, and copper. The replacement deposits are predominantly structurally controlled which facilitates subsurface targeting. The A & E currently appears to be mainly a CRD target, but the stratigraphy is favorable to Carlin-style mineralization. In 2021, mapping and further sampling was undertaken in the area, and it is ready to be drilled in 2022.

Magnet Ridge Target

The Magnet Ridge target, originally discovered by Greencastle in the 2010’s, appears to be a hybrid zone containing CRDs and disseminated gold. Disseminated gold is hosted by the Prospect Mountain Quartzite in the upper plate of a low angle thrust. The Eldorado dolomite is found beneath the fault and is one of the most favorable hosts of CRDs in the Eureka District. On the surface, there are many small workings into the CRDs with the largest being the poorly documented Magnet Shaft. The area features a gold-in-soil anomaly over 500 m in length and 250 m in width.

Silica Ridge Target

The Silica Ridge target is a Carlin-style target on the eastern boundary of the property. The target is found at the northern end of a 2-mile-long silicified and brecciated zone (Wulverson, 2018). Mineralization is hosted by the Carbon Ridge Formation and Chainman Shale. Historic outcrop sampling returned up to 4.23 g/t Au with high arsenic and low base metals. Field mapping in 2021 indicates the presence of an anticline cut by NNE-trending normal faults. This structural setting combines a “feeder structure” with a structural trap and would be the drilling target of a future program. A drilling program was undertaken in the 1990’s by Tenneco but failed to test the structural controls of the Silica Ridge target (Wulverson, 2018).

Eldorado Target

The Eldorado target is found approximately 650 m southwest of the Magnet Ridge. The underground workings in this area are poorly documented and have collapsed but the most prominent one was named the Eldorado Tunnel. The historic miners were focused on structurally controlled and irregular CRDs hosted in the Eldorado dolomite which is the host rock at the historically-important Ruby Hill mine (too long of a sentence?). Surface mapping indicate a tight clustering of the CRDs which facilitates targeting.

Long Lost Jewels Target

The Long Lost Jewels target is found approximately 400 m northwest of the Jewel Ridge target. The target area was the site of a small amount of historic mining activity in the late 1800’s.  Mineralization appears to be predominantly Carlin-style, with some CRD characteristics noted in historic reports, and is hosted in the Goodwin Limestone of the Pogonip Group. The target has been the site of multiple generations of drilling.

2020 Drilling highlights

The 2020 drill program discovered a high-grade (gold-silver-lead-zinc) mineralized oxide zone in diamond drill hole JR-20-DD12 on the Northeast Eureka Target. From surface an intercept of 24.54 meters was intersected returning 9.16 grams gold per tonne (g/t Au), 65.8 grams silver per tonne (g/t Ag), 1.03 percentage lead (% Pb), and 1.90 percentage zinc (% Zn). This intercept is hosted in Hamburg Dolomite and comprises both Carlin-type and CRD -type (“Carbonate Replacement Deposits”) oxide mineralization.

A higher “bonanza” grade portion from 15.21 meters to 18.44 meters returned 3.23 meters averaging 57.16 g/t Au, 452.0 g/t Ag, 7.23 % Pb, and 11.99% Zn. This “bonanza” intercept is interpreted by the Company geologists as similar to the historic Ruby Hill mines and can be described as an oxidized carbonate-hosted, structurally and lithologically controlled gold-silver (with associated lead-zinc) mineralization.

2021 Highlights

Work completed during the 2021 season included:

  • 4,266 meters of core drilling at the Eureka Tunnel target
    • 34 out of 35 intercepted mineralization
    • Developed geologic model for both CRD and Carlin-style mineralization to advance 2022 exploration
  • Initiation and development of new Plan of Operation BLM permit, including completion of archaeological and biological surveys
    • Projected acceptance by Q3 of 2022, allowing for drilling of significant underexplored targets
  • Mapping and sampling of underground workings by Burgex Mining Consultants and Golden Lake staff
  • Project-scale and target-scale mapping of CRD and Carlin-type targets
    • All targets are now drill-ready
  • Completion of project-scale soil survey that resulted in the discovery of anomalous Carlin-type pathfinders in unexplored area
  • Completion of LIDAR and orthoimagery surveys
  • Collecting of over 325 rock samples that identified or delineated Carlin-type and high-grade CRD targets

Project Highlights

Mapping and sampling work completed in 2021 resulted in the discovery of several new targets:

  • Soil sampling discovered favorable Carlin-type pathfinders including As, Sb, Hg, and Tl associated within favorable units of the Pogonip group in unexplored areas of the property. Rock sampling and alteration mapping within the Pogonip group also generated new Carlin-type targets.
  • An auriferous silicified lineament, over 1.5km in length, was mapped and sampled. Rock sampling from a 250 m sub-section consistently featured elevated gold.
  • Sampling and mapping occurred near the historic Uncle Sam Tunnel and identified the presence of low-grade disseminated gold in conjunction with high-grade CRDs. The target is found near the contact between the Hamburg Dolomite and Dunderberg Shale – a primary control on Carlin-type mineralization on the property.

2022 Highlights and Outlook

  • With the discovery of high-grade orpiment and realgar in JR-22-36DD at the Hamburg mine, we will further explore this exciting zone. The zone was hosted in the Dunderberg Shale, and appears to be controlled by the contact between the Hamburg Dolomite and Dunderberg. The Dunderberg is largely unexplored by historic drilling.
  • CRD targets, including the Catlin and A & E, are projected to be drilled. Historic drilling and Golden Lake’s systematic rock sampling suggest the Catlin target has the potential for Carlin-type mineralization as well as the known CRD type. Historic drilling at the Catlin has primarily ended at shallow depths, and was conducted with outdated drilling methods. 
  • Upon acceptance of the Plan of Operations by the BLM, drilling is planned for the eponymous Jewel Ridge target. The Jewel Ridge target is perhaps the premier Carlin-type zone on the property.
  • Proposed drilling at the Eureka Tunnel target will build on the successful 2021 campaign. The recent acquisition of three patents to the southeast and east of 2021 drillholes has unlocked a wider area for exploration. The primary goal for drilling in 2022 will be to expand the size of the known mineralized zone, while exploring at depth high-grade zones suggested by surface sampling.

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