The Guild Property consists of 118 mineral claims, covering approximately 2439 acres. Subject to third party net smelter royalties, the Guild Property is 100% controlled by Columbus and has been optioned to Sniper Resources Ltd., which can earn a 51% interest in the Property by incurring US$2 million in exploration expenditures over a five year period. After earning a 51% interest, Sniper can elect to earn an additional 19% (for a total of 70%) of Guild by funding the completion of a positive feasibility study.
Carlin-style gold mineralization is the target at Guild where a silicified ledge in Ordovician limestone carries gold values (thirty samples average 0.054 opt gold) over 180 feet of its 2300 feet total strike length. Guild has had previous drilling by Amselco and Western States Minerals, however, most of the drill holes were less than 150 feet in depth.
The identification of Carlin-type mineralization in this area led Columbus to additional prospecting and the eventual acquisition of a land position. The project continues to be the focus of a large geochemical and mapping program and three untested drill targets have already been identified. The principal target is an ore-controlling structure which extends for one mile under shallow post-ore cover between the main Guild gold showing and jasperoid in an area to the south. In addition, the Mississippian Webb Formation is present in the south end of the block (host for the Rain, Dee, and various other Nevada disseminated gold mines). Preliminary reconnaissance has recently found hydrothermal alteration in the form of silicification and barite veining in the Webb.
