The Eastside Property is located approximately 40 km (25 miles) west of Tonopah, Nevada.
Eastside is 100% controlled by Columbus Gold, subject to underlying royalties.
Phase II drilling in 2013 encountered significant gold mineralization, including 27 meters (88.5 feet) of 1.82 g/t gold within a wider 53.4 meter intercept grading 1.108 g/t gold, in hole ES-14. ES-14 also cut 12.2 meters (40 feet) of 54.1 g/t silver (1.59 opt Ag) associated with the gold.
Drilling consisted of 12 angle RC holes totaling 2,391 meters (7,890 feet) and was designed to follow up on the discovery by Columbus Gold in 2011, which cut 13.6 meters (44.6 feet) of 2.42 g/t gold (including 6 meters of 5.17 g/t gold), in hole ES-4.
Drill holes ES-13, 14, 19 and 21 cut the same zone of gold/silver mineralization but closer to surface than discovery hole ES-4 where the zone exceeded 30 meters in thickness and averaged from 0.8 g/t to 1.8 g/t gold at about 76 to 168 meters (250 to 550 feet) of vertical depth. The drilling to date indicates this zone is continuous over at least 330 meters (1,080 feet) of strike, and remains open to depth and to the surface, and in all directions except to the north. Notably, silver mineralization is associated with the gold in ES-14, 19, 20, and 21.
A drill hole location map, and an assay summary from the 2013, Phase II drill campaign can be viewed at the links below:
Map - Phase II Drill Program
Assays - Phase II Drill Program
Gold at Eastside occurs near, and is associated with, the contact of an altered Tertiary rhyolite dome and the surrounding tuffs and volcaniclastic rocks intruded by the dome. The rhyolite dome is highly altered and yielded gold values from anomalous to 7.9 g/t gold in Columbus Gold surface sampling. Five other undrilled, rhyolite flow-dome complexes are currently being mapped and sampled at the Eastside project.
It appears from the drilling to date that the gold zones become more consistent and better grade with depth. More, and deeper drilling is required to confirm this possibility. Columbus Gold currently believes the deeper gold mineralization cut in Phase II drilling, along with the overlying "cloud" mineralization, may be minable by open pit at a reasonable stripping ratio. The potential grades set out above are conceptual in nature. There has been insufficient exploration to date to define a mineral resource at Eastside and it is uncertain if further exploration will result in Eastside being delineated as a mineral resource. More drilling is necessary to confirm this.
A Phase III drill program, designed to extend the gold mineralization encountered in Phase II is planned for late 2013 or early 2014. The program will include some deeper drilling at approximately maximum hole depths of 305 meters (1,000 feet).
Columbus Gold completed the Phase I drilling program in early 2011 consisting 12 holes totaling 2,125 m (7,405 ft). The best result was in drill hole ES-4 which intersected 13.6 m of 2.42 g/t Au at a depth of 157.6-171.2 m (45 ft of 0.070 opt Au from 520-565 ft), including 6 m of 5.17 g/t from 165.2-171.2 m (20 ft of 0.151 opt from 545-565 ft) and 1.5 m of 12.90 g/t from 166.7-168.2 m (5 ft of 0.337 opt from 550-555 ft). The gold zone drilled in hole ES-4 was interpreted to be open in all directions.
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical content of this project description. Mr. Wallace is the President of Columbus Gold and the principal of Cordilleran Exploration Company ("Cordex"), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.