R E F I N I N G T H E A R T O F M I N E R A L E X P L O R A T I O N

Transcription

1 Jupiter Project R E F I N I N G T H E A R T O F M I N E R A L E X P L O R A T I O N

2 Overview A large Carlin-style Au system, at least 4.5 km long and 3.5 km wide, occurs in early Paleozoic limestones and Tertiary volcanic rocks Up to 3.1 g Au/t with a strong Carlinsuite element signature Mapping and biostratigraphy by Kinetic Gold have identified a previously unrecognized thrust, leading to important reinterpretation of the stratigraphy High-quality untested drill targets at the Cambrian/Ordovician erosional unconformity have now been recognized Jupiter Independence

3 Location Northumberland Southern Nye County Round Mtn Near Eastern margin of Walker Lane Along NW alignment of sediment-hosted gold deposits Manhattan Longstreet Tybo Morey 120 claims Midway Willow Creek Tonopah Ellendale Reveille Golden Arrow Freiberg Goldfield Queen City (Jupiter) Groom

4 Geology Jupiter Cambrian Nopah (Cn) formation and undivided Paleozoic (Pzu) shown on southern Nye County geologic map Surrounded by Tertiary volcanic units N 0 5 miles (Cornwall, 1972)

5 Historical Exploration US Minerals Exploration ( ) Possibly 4-6 holes drilled in the area of Hg workings Freeport (1987) 2 holes drilled in pediment, location unclear Newmont (1989) No evidence of drilling Kennecott (1990) 12 drillholes were permitted in volcanic rocks Beta Minerals ( ) No drilling Geologix Explorations ( ) Drilled 8 vertical RC holes ( ft) in 3 areas of gold-bearing jasperoids 7 of 8 intersected anomalous gold: high ppm Au over 10 feet Altan Nevada (2011 current) Drilled 8 holes in volcanic rocks highest gold was apparently 110 ppb over 20 feet

6 Geology Mapping by Kinetic Gold reveals C carbonates thrust over Ord lms, chert, shale WNW and EW faults cut by N, NE, and NW transtensional faults Qal Ols Olc Clp WNW intermediate intrusion ( Ma) assoc. with small mt skarn Tv Tv Ma; Ma Clmbc Altered felsic dikes assoc. with Au and jasperoid Au mineralization with Carlin suite elements in Pz and Tertiary rocks

7 Biostratigraphy Conodont Data: (Zippi, 2015) Sample ID JUP PL-1 JUP PL-2 JUP PL-3 Interpreted Age Latest Cambrian Undetermined Mid. Ord. or younger Qal Ols Olc Clp JUP PL-1 Age dating confirms Clmbc (lms with med.-bedded cht unit is Latest Cambrian Clmbc is host to largest jasperoids and most exposed Au mineralization JUP PL-3 Clmbc JUP PL-2 Tv Cambro-Ordovician unconformity preserved beneath Tv and Qal Cambrian is thrust over Ordovician

8 Jasperoids Concordant jasperoid mostly confined to uppermost Cambrian Discordant jasperoid throughout stratigraphy

9 Stratigraphy and Deformation Clmbc medium to thin bedded cherty limestone Clp thin to medium bedded bioturbated platy limestone Cambrian Ordovician Olc thin bedded cherty limestone

10 Stratigraphy and Deformation Cambrian Clp thin to medium bedded bioturbated platy limestone Ordovician Olc thin bedded cherty limestone

11 Stratigraphy and Deformation Ordovician

12 Au in rocks Widespread carbonatehosted Au mineralization in Cambrian and Ordovician carbonates Strike length of 4.5 km Highest Au grades (3.1 g Au/t in North; 1.2 g Au/t in South) Au associated with jasperoid, N, NE, and NW faults, subtle N to NE anticlines, and EW-WNW altered felsic dikes Mineralization mostly outboard of marble halo

13 As in rocks Correlation Coefficients Element All Rocks n = 927 Au Kinetic Rocks n = 204 Au As Sb Hg Tl Fe Ag Cu Pb Zn Mo W

14 Sb in rocks Correlation Coefficients Element All Rocks n = 927 Au Kinetic Rocks n = 204 Au As Sb Hg Tl Fe Ag Cu Pb Zn Mo W

15 Hg in rocks Correlation Coefficients Element All Rocks n = 927 Au Kinetic Rocks n = 204 Au As Sb Hg Tl Fe Ag Cu Pb Zn Mo W

16 Tl in rocks Correlation Coefficients Element All Rocks n = 927 Au Kinetic Rocks n = 204 Au As Sb Hg Tl Fe Ag Cu Pb Zn Mo W

17 Drill Target Areas Cambrian/Ordovician Unconformity Carlin-style mineralization in Fe-rich karst environment with lms/dol contacts?, terra rossa? (1, 2, 3) Paleozoic/Tertiary Unconformity Epithermal mineralization at base of Tertiary volcanics (1, 3) High Angle Faults Mineralization hosted in carbonates and dikes (1, 2, 3, 4) A A B B 1. NE Pediment Target 2. Eagle Target 3. East Target 4. Dike Ridge Target

18 NE Pediment Target NE Pediment Target Concealed C/O unconformity? solution collapse bxa, terra rossa, silty lms, NE Fold axis Hg workings, ppb Au Bedded jasperoid near top of exposed Cambrian section Root zone?

19 Drill Targets - Long section Looking WNW C C NE Pediment Target Eagle Target Ols Clmbc Tv 1500 Clp

20 Eagle Target Cambrian Cambrian Cambrian 587 ppb Au Ordovician 982 ppb Au ppb Au ppm As ppm Sb ppm Hg jasperoid Leakage above target at C/O unconformity at shallow depth?

21 Drill Targets - Cross-section A A Looking North A A East Target Eagle Target

22 East Target JPBF g Au/t, 6.9 ppm Ag, 3740 ppm As, 173 ppm Hg, 97 ppm Sb JPGH g Au/t, 2.0 ppm Ag, 2970 ppm As, 165 ppm Hg, 106 ppm Sb JPGH g Au/t, 8.1 ppm Ag, 3320 ppm As, 1001 ppm Hg, 97 ppm Sb JPGH ppb Au, 764 ppm As, 66 ppm Sb, 11 ppm Hg

23 East Target Highest Au grades at top of exposed Cambrian section (Similar stratigraphic position to Long Canyon) Nearing C/O unconformity Au - Fe correlation Sulfidation of terra rossa? Assoc. with minor dolomite Assoc. with altered felsic dike Fe (ppm) Jupiter: Au vs Fe JPBF002 JPGH056 JPGH057 Latest Cambrian, increased Fe Au (ppb)

24 Drill Targets - Cross-section B - B Looking North B B Eagle Target East Target

25 Dike Ridge Target Past drilling tested shallow stratigraphy Au associated with clay altered qtz eye dikes Deep C/O unconformity targets Deep T/Pz target

26 Drill Targets - Cross-section D D Looking ENE D D marble Clp Clmbc Tv Dike Ridge Target Olc Ols Clmbc Clp Gold in Drill Holes (ppb)

27 Jupiter Project Summary Large, strong alteration system Hydrothermal system is at least 4.5 km long by 3.5 km wide Alteration and mineralization in carbonate sequence and volcanic rocks Abundant and widespread jasperoid One or more metal-bearing intrusive events Carlin-style mineralization Widespread Au with values up to 3.1 g Au/t Robust correlations between Au and Carlin-suite pathfinder elements Low base metals in target areas Favorable structural setting Thrusting and folding places Cambrian on Ordovician Cut by EW WNW probable tear faults Cut by numerous N, NNW, NNE, and NE transtensional faults Favorable host rocks Cambrian and Ordovician carbonates Cambrian-Ordovician unconformity concealed Large, high quality, untested drill targets