Texas Project

The Texas Project consists of 7 mineral claims covering 2,186 hectares and is located in the prolific Beaverdell mining camp1. The Property is accessible year-round via a network of well-maintained Forest Service roads.

The Project covers historical mineral showings and is in close proximity to the past producing Beaverdell Mine2 that was in operation from 1896 to 1991. The Beaverdell mining camp is predominately known for its silver production and the presence of high-grade gold occurrences makes the Texas Property unique and significantly more attractive.

The Company completed a comprehensive field program in the fall of 2020 shortly after signing an option agreement to acquire the property in preparation for an inaugural drill program. Sampling, prospecting, mapping and a ground magnetometer survey were completed over the course of the 2020 field program. Particular attention was paid to the Doorn and Cabin targets, where a number of historic trenches were re-evaluated and sampled in order to confirm the grade and orientation of the mineralized structures. Field observations noted the presence of visible gold, galena, chalcopyrite and bornite in a significant number of the samples collected. The field program also resulted in the discovery of a new meter-scale quartz vein/breccia located 450m south of the Doorn showing and prospecting of the reverted Golden Eagle Crown grant resulted in a meter-scale quartz vein being rediscovered. Notable rock samples from the 2020 field program were:

Sample
Number
Target
Area
Sample
Type
Au
(g/t)
Ag
(g/t)
Cu
(ppm)
Pb
(ppm)
1749801 Doorn T1 Grab 373.8 * 1,305 * 14,610 ^ 102
1749802 Doorn T1 Grab 220.1 * 827 * 31,430 ^ 101
1749803 Doorn T1 Grab 46.3 * 126 * 14,300 ^ 11
1749805 Cabin 0.25m Chip 18.7 * 50.5 167 13,500 ^
1749808 Doorn T1 Grab 10.7 * 57.4 4,056 10
1749809 Doorn T1 Grab 22.2 * 6.5 140 17
1749829 Laurion Grab 0.08 165 * 25 782
* Au by Metallic Screen and Fire Assay and overlimit Ag (>100g) by Fire Assay 30 g Fusion Gravimetric Finish. Multi-Element by True Aqua Regia and ICP-ES.
^ Overlimit (>1%) Cu and Pb by 4-Acid ICP-AES ore grade analysis.

Table 1: Texas Project 2020 Field Program Significant Rock Sample Results

*Grab samples are by definition selective. Grab samples are solely designed to show the presence or absence of mineralization, and are not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project. Refer below for fuller disclosure on the 2017 grab sampling program and results.

  1. Camp refers to a colony of miners settled in proximity to a mine, or series of mines or workings.

  2. Referenced nearby historic resources, deposits and mines provide geologic context for the Project, but are not necessarily indicative that the Project hosts similar potential, size or grades of mineralization.

 

 

In April/May 2021, a 2,093 m Phase 1 drill program focused on near surface veining associated with the historical high-grade occurrences at the Cabin and Doorn target areas. Near surface polymetallic veining hosting gold and silver was encountered in multiple drill holes at the Cabin and Doorn targets. Drilling also intersected an extensively altered gold-rich granodiorite unit indicative of a bulk tonnage style mineralizing system. This altered gold-rich granodiorite unit has a distinctive low magnetic geophysical response that will guide the next phase of exploration to target the newly identified and sizable gold-rich bulk tonnage potential of the Texas property.

Highlights of the Phase 1 drill program include a mineralized interval of altered granodiorite in hole TX21- 018 that returned 1.78 g/t Au over 5.9 m, which includes 0.9 m of 9.13 g/t Au, from 45.1 m downhole at the Cabin target and a new polymetallic vein immediately west of the Cabin target and returned 8.79 g/t Au over 0.8 m from 18.3 to 19.1 m downhole in hole TX21-023.

Table of Significant Phase 1 Drill Results (>0.25 g/t Au)
Drill Hole   From (m) To
(m)
Width* Au
g/t
Ag
g/t
Cu
ppm
Pb
ppm
Zn
ppm
TX21-001   9.85 10.15 0.3 0.73 10.0 81 5 14
TX21-002   3 4.2 1.2 0.74 3.6 101 3 50
  7.4 11.5 4.1 0.27 1.4 21 4 42
and 14.5 16 1.5 1.80 20.4 33 11 54
TX21-003   5.15 5.8 0.65 0.57 1.4 950 4 6
and 8 9 1.0 0.67 5.5 312 31 89
TX21-004   12 12.3 0.3 0.41 1.7 36 2 39
and 19.5 21 1.5 0.65 5.7 20 12 48
TX21-005   20 22 2.0 0.45 3.7 35 9 49
and 28.5 30 1.5 0.29 2.4 15 6 46
TX21-006   32 33 1.0 0.31 3.8 12 9 29
TX21-007   90.5 92 1.5 0.41 3.4 62 6 42
TX21-009   11 14 3.0 0.41 6.7 18 33 52
and 56 57.5 1.5 1.22 3.2 69 16 87
TX21-010   1.4 2.4 1.0 0.38 1.9 50 4 34
and 38.7 39 0.3 2.76 58.2 43 62 41
TX21-011   29.2 29.8 0.6 0.24 2.2 117 4  
and 45.5 45.8 0.3 0.58 3.8 11 4 36
TX21-013   13.2 14.5 1.3 0.40 2.9 24 11 81
and 37.2 37.6 0.4 1.32 12.1 69 17 29
TX21-014   12.3 12.65 0.35 2.13 10.6 57 5 25
and 54.5 55.65 1.15 0.91 8.7 338 3 48
TX21-016   25 27 2.0 1.15 8.0 35 9 40
TX21-017   60.4 60.7 0.3 0.65 2.1 95 8 20
and 61.9 62.2 0.3 0.67 4.4 300 8 32
TX21-018   45.1 50.8 5.7 1.78 6.3 201 123 1815
including 46.1 47 0.9 9.13 25.7 627 147 2681
and 59.4 62 2.6 0.28 0.8 23 6 41
and 68.5 70 1.5 0.26 0.6 25 4 40
TX21-019   6.5 6.8 0.3 0.47 4.2 9 2205 477
and 7.7 8 0.3 0.64 1.4 35 59 84
and 42.5 44 1.5 0.41 0.6 16 11 56
TX21-020   22.4 23.4 1.0 0.29 0.9 12 9 38
and 44.6 44.95 0.35 0.94 4.2 27 32 50
TX21-021   7.7 8.2 0.5 0.28 1.0 33 41 68
and 40 40.3 0.3 5.94 8.7 21 598 234
TX21-023   18.3 19.1 0.8 8.79 17.0 442 2647 3653
and 22 22.5 0.5 0.37 1.2 80 10 42
and 23.15 23.5 0.35 5.34 60.9 709 5706 9787
TX21-025   15.4 15.7 0.3 0.58 1.6 311 968 802
and 21.7 22.5 0.8 0.33 0.3 13 34 175

*True thickness of mineralized intercepts are undetermined.

 

Drill Plan Map of the Cabin Target Area with Magnetic Data

 

Example of Veining in Drill Hole TX21-023


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