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Winnemucca Mountain Property
The Winnemucca Mountain gold project is located approximately 8 km (5 miles) north of Winnemucca, Nevada along the northeast flank of Winnemucca Mountain. The project is 100% controlled by Columbus Gold subject to underlying royalties.
Gold occurs along steep, northerly-trending structures cutting Mesozoic shales, siltstone, and sandstone. Blow sand and thin alluvium obscures most of the property. Calcite veining, with anomalous gold, occurs in limited outcrops at the surface, but at depth, silicification of the sedimentary rocks is the dominant alteration. The zone has a strike length of over 1,035 m (3,400 ft) and a width of well over 30 m (100 ft) locally. Winnemucca Mountain project mineralization closely resembles that of the Florida Canyon gold mine, located thirty miles to the southwest.
The WX Syndicate and, later, Bow Valley Industries explored the Winnemucca Mountain project from 1985-1991. The WX Syndicate mapped, sampled, conducted a resistivity survey and drilled 1,850 m (6,098 ft) in 27 rotary (19 as RC) holes in the project area during the period 1985-1989. Grades from a high of 0.110 opt gold over 3 m (10 ft) and 0.064 opt gold over 15 m (50 ft) and 22 m (75 ft) of 0.019 opt gold were intersected and a modest ± 4,000 ounce gold resource (±150,000 tons)* was delineated. Bow Valley Industries drilled 330 m (1,080 ft) in 4 vertical RC holes in 1990 and intersected 29 m (95 ft) of 0.025 opt gold in hole W90-29.
Santa Fe Pacific Mining optioned the project in 1992 and drilled 143 short auger holes through shallow sand cover. They also performed mapping, sampling and an IP/Resistivity survey and drilled 3,130 m (10,275 ft) in 12 RC angle holes. Drilling targeted the northern extension of the vein system and encountered ≥ 30 m (100 ft) of + 0.01 opt gold in five holes including 71 m (235 ft) of 0.01 opt gold in hole 92-9.
Columbus Gold is seeking a joint venture partner to advance exploration at Winnemucca Mountain. Several targets are apparent and include: the down-dip extension of the known resource area including a mapped offset; the southern extension of this zone; the northern extension of the vein system; and the possible parallel structures associated with sparse jasperoid outcrops to the east of the main structure.
*Caution: A qualified person has not done sufficient work to classify the historical estimates contained herein as current mineral resources. Columbus Gold is not treating the historical estimates as current mineral resources and the historical estimates should not be relied upon.
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.
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