Green Springs Project

Transcription

1 Green Springs Project AUGUST 2016 Ely Gold & Minerals Inc. TSX.V:ELY

2 FORWARD LOOKING STATEMENTS Certain statements herein may contain forward looking information within the meaning of applicable securities laws. Forward looking information appears in a number of places and can be identified by the use of works such as intends of variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved. Forward looking information includes statements regarding the Company s exploration plans with respect to the Property and the estimation of mineral resources and are subject of such forward looking risks, uncertainties and other factors which may cause the Company s actual results to be materially different from any future results, performance or achievements expressed of implied by such forward looking information. Such risks include gold price volatility, change in equity markets, the uncertainties involved in interpretation geological data, increase in costs and exchange rate fluctuations and other risks involves in the gold exploration and development industry as well as those risk factors discussed under Risk Factors: in the Company MD&A dated September 30, 2014 available at There can be no assurance that a forward looking statement referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of Ely Gold. Accordingly, readers should not place undue reliance on the forward looking information. All forward looking information herein is qualified by this cautionary statement. The Company does not undertake to update such forward looking information except in accordance with applicable securities laws. 2

3 GREEN SPRINGS CARLIN STYLE DEPOSIT Carlin type deposits show enrichment in the elements gold, antimony, mercury, thallium and barium. This enrichment is created by Hydrothermal circulation with a temperature of up to 300 C. The underlying rocks out of which the minerals are dissolved are normally silty carbonates although silicates and other sediments are possible. The material in the deposit is altered in a way that the carbonate minerals are either dissolved or converted to the silicates by silicate rich hydrothermal water. For example dolomite is transformed into jasperoid. Another alteration is the formation of clay minerals by interaction of water and feldspar. The absence of base metal sulfides and the even distribution of the pyrite and arsenopyrite in the host rock are the most obvious difference to other sulfide deposits. 3

4 LOCATION LOCATION LOCATION Three mines being developed within 20 miles Midway Gold Pan Mine Gold Rock in permitting Waterton Global Purchased Mt Hamilton LLC in 2015 All Federal and State permits approved Feasibility Study upgraded in October K AuEq Oz M&I, 136K AuEq Oz inferred Pilot Gold Exploring the past producing Griffon mine Optioned to Logan Resources 4

5 GREEN SPRINGS HISTORY Past producing mine U.S. Minerals Exploration Company (USMX) USMX mined 1.1MM 2.1 gpt (.70 gpt cutoff) Heap leach at 80%+ recoveries Produced from near surface Chainman Shale formation Three un-mined mineralized zones yet to be delineated Moved mining operations (while producing) to Alligator Ridge Project acquired by Palladon Ventures in 2004 Produced a report in 2005 Joint ventured in 2006 Geochem & Geophysics completed in 2008 No drilling ever completed in the joint venture 5

6 GREEN SPRINGS CONSOLIDATION Ely Gold acquired the project in February % ownership of 76 claims Subject to 2% NSR No advance royalty payments 2 interior claims leased over 10 years from USMX geologist 100% buyout for $200,000 (less lease payments) 2.25% NSR with 1% buy down for $500,000 USMX data package included District consolidated in July claims optioned from Eurasian Minerals 100% purchase for $100,000 (3 years) 2.5% NSR with.5% buy down (500 oz. Au) Advance royalty payments begin in year 4 20 Oz Au per year 6

7 GREEN SPRINGS GEOLOGY Strong gold-bearing hydrothermal system Large area of hydrothermal alteration Strong geochemical anomalies Several high grade near vertical ore shoots (>1/2 ounce) Favorable host rock Chainman Shale/limestone near surface Joanna Limestone is meters thick Pilot Shale underlies entire property and is primary host at other deposits in District Ore controlling faults throughout property Only the Chainman was mined by USMX Joanna is mineralized in several historic holes Pilot Shale is mineralized in drill holes and in outcrops Silver never assayed by USMX-ground samples run as high as grams 7

8 GREEN SPRINGS GEOLOGY 8

9 GREEN SPRINGS GEOLOGY 9

10 GREEN SPRINGS GEOLOGY 10

11 GREEN SPRINGS GEOCHEMISTRY Palladon JV data including: 1200 soil samples 460 rock samples 16.5km of CSMAT geophysical data Bronco (Eurasian) data including: 1597 soil samples 30.5km of NSMAT geophysical data 11

12 GREEN SPRINGS CSAMT/NSAMT 12

13 GREEN SPRINGS 2015 Drill Program 14 RC Holes Tested un-mined B, North C and E deposits Tested Pilot Shale upslope from C-Pit & E Area Mineralized and oxidized Pilot Shale intercepts Significant near surface intercepts GS15-01 GS15-02 GS15-06 GS gpt Au 1.21 gpt Au 4.57 gpt Au 1.35 gpt Au 13

14 GREEN SPRINGS 2015 Drill Program Green Springs Project Phase 1 Drilling Results Summary grams per tonne ("g/t") Hole # TD Dip AZ Area Overall Au Intercept(meters) Included Au Intercepts(meters) From To Thickness Aug/t From To Thickness Au g/t GS NorthC GS NorthC GS NorthC GS B GS B GS E GS E GS E GS E GS E GS E GS C Trace GS C No Results GS C Total Meters

15 GREEN SPRINGS USMX DRILLING Data compilation from USMX data including: ~680 drill holes Historical Data, Non Multiple targets yet to be tested Lower stratigraphic units mostly untested but, mineralized where tested: Joanna Limestone, Pilot Shale/Guilmette contact Mineralized Pilot Shale: 0.92 g/t Au over 51.8m & 1.41gpt over 15.3m Limited exploration upslope from existing pits 15

16 GREEN SPRINGS HISTORIC DRILL RESULTS Historical RC Drill Results from Un Mined Mineralized Zones (non ) All holes drilled by USMX in the 1980 s All holes drilled vertically into shallow dipping western limb of anticline * Holes bottomed in mineralization Hole # Depth (m) From (m) To (m) Interval (m) Au (g/t) Area B Zone A Zone B Zone A Zone * 1.27 A Zone * 1.41 A Zone B Zone C Zone * 1.62 B Zone * 1.06 B Zone * 2.69 E Zone * 2.01 E Zone E Zone * 3.20 E Zone 16

17 17 GREEN SPRINGS TARGETS

18 GREEN SPRINGS TARGETS Multiple targets to be tested C North pit largely un-mined (blast holes in pit bottom) Mineralized zone between C pits Three mineralized zones (A,B & E) were never mined Outcropping grab samples in 500m Pilot Shale jasperoid soil anomaly grade up to 0.9 g/t Au Additional Pilot Shale grab samples up to 2.0gpt Au & 60gpt Ag Extensive ground fault mapping confirmed by geophysical data Multiple untested geochem anomalies and jasperoid out crops upslope from historic pits Eastern limb of anticline never drilled 18

19 GREEN SPRINGS TARGETS 19

20 GREEN SPRINGS PERMITTING Enviroscientists Inc 75+ Acres studied Plan of Operations submitted to USFS (November 2013) Initial drill targets defined Biological Report completed Cultural Report completed Roadless Areas approved Environmental Assessment Approved Final Decision Notice granted by USFS in November,

21 ELY GOLD & MINERALS INC Ely Gold & Minerals Inc ELY TSXV Suite Granville Street Vancouver, Canada V6C 1T2 Tel: (604) Fax: (604) Trey Wasser, President & CEO Tel: (972) Auditors Smythe Ratcliffe LLP Counsel: Holmes & King Corporate 20