The Horsetail Target

System Type:

Low sulphidation, epithermal, calcite-quartz vein system.

Strike-Length:

Unknown as the surrounding area is covered by post-mineral colluvium (gravels).

Resource: 

None at this time

Location:

The Horsetail target is located on the Nevada side of the Gold Springs project, 450 meters southwest of the main workings at the past producing Horseshoe mine.

Drilling:

None

Geophysics:

The Horsetail target is associated with the same resistivity high anomaly as the historical Horseshoe mine, as identified in the airborne ZTEM geophysical survey (see maps below).

Geology:

The Horsetail target consists of quartz-sericite altered andesite host rock surrounded by andesite float containing calcite-quartz vein material. A large silicified andesite ridge outcrop, approximately 30 meters by 10 meters, with zones of stockwork follows a N-S trending fault zone suggesting the potential for widespread mineralization. Much of the area is covered by post-mineral gravels but in the areas of outcrop exposure an adit and shaft exploited a 0.5-meter-wide light-green, banded quartz-calcite vein similar to those seen at the historic Horseshoe mine. 

Structural Geology:

The Horseshoe vein system follows a north-south trending structure which is part of the much larger Horseshoe structural corridor.  The Horsetail vein target parallels the historic Horseshoe mine structure.

Historical Mining:

Much of the area is covered by post-mineral gravels but in the uncovered area an adit and shaft exploited a 0.5-meter-wide light-green, banded quartz-calcite vein similar to those seen at the historic Horseshoe mine.

Geochemistry:

Sampling of the vein material produced values as high as 14.2 g/t gold with 52 g/t silver. Horsetail represents a significant new target with the high-grade vein structure and the surrounding silicified, brecciated and stockwork veined host rock. GRC sample results with values greater than 0.25 g/t Au (cutoff grade of the existing resources at Gold Springs) are listed below:

Table: Recent Rock Chip Sampling Results from Horsetail:

Sample ID

Company 

Sample Type

Description

Au (g/t)

Ag (g/t)

224520

GRC

Outcrop grab

Silicified breccia zone

0.49

11.6

224521

GRC

Outcrop grab

Banded quartz vein.

0.32

9.4

224523

GRC

Dump 0.25m by 0.25m

Banded quartz vein.

3.94

40.2

224525

GRC

Outcrop grab

0.5m wide banded quartz vein in altered andesite.

1.24

9.2

224527

GRC

Dump grab

Massive banded quartz vein

5.01

23.9

224534

GRC

Dump 0.5m by 0.5m area

Banded quartz vein.

14.2

52

224541

GRC

Float 1m by 1m area

Banded quartz vein.

2.18

14

A cutoff grade of 0.25 g/t Au was used, which is the cutoff grade of the nearby Grey Eagle resource.

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