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Weepah
The Weepah gold project is located in northern Esmeralda County approximately 32 km (20 miles) southwest of Tonopah, Nevada, in a geographic area known as the "Weepah Hills", on the north margin of Clayton Valley. The project is 100% controlled by Columbus Gold subject to underlying royalties. Sniper Resources can earn an initial 51% interest in Weepah by incurring US$3 million in exploration expenditures.
Weepah has historical gold production from an open pit along a steep, northerly structure cutting Precambrian sedimentary rocks. The principal drill targets occur east of the historical open pit where gold occurs as replacements in sanded, or lightly silicified, Precambrian limestone, exposed in small outcrops through thin gravel cover on the north edge of an alluvial basin. Outcrop sampling by Columbus Gold of the altered limestone yielded values from anomalous up to 10.29 g/t (0.30 opt) gold over 3.6 m (12 ft), and 17.14 g/t (0.50 opt) gold over 1.8 m (6 ft).
Historical drilling, reported by the previous owner, indicates a small resource of approximately 225,000-450,000 tonnes (250,000-500,000 tons) averaging 1.7-2.4 g/t (0.05-0.07 opt) gold*. Mapping, along with ground magnetics and CSAMT geophysical surveys carried-out by Columbus Gold, indicate that the favourable geology extends beyond the area of the historical resource to the south and east for 1,200-1,500 m (4,000-5,000 ft) under what appears to be very shallow gravel cover.
An initial drilling program was carried-out by Columbus Gold in early 2011 and returned the following significant intercepts:
• Drill hole WP-2 intersected 7.6 m (25 ft) of 2.29 g/t (0.067 opt) gold from 118.9-126.5 m (390-415 ft) depth, including two separate 1.5 m (5 ft) intervals of 4.31 g/t (0.126 opt) and 4.38 g/t (0.128 opt) gold;
• Drill hole WP-5 intersected 16.8 m (55 ft) of 1.30 g/t (0.038 opt) gold from 7.6-24.4 m (25- 80 ft) depth, including 3.0 m (10 ft) of 4.54 g/t (0.132 opt) gold;
• Drill hole WP-7 intersected 27.4 m (90 ft) of 0.73 g/t (0.021 opt) gold from 16.8-44.2 m (55- 145 ft) depth;
• Drill hole WP-12 intersected 4.6 m (15ft) of 3.47 g/t (0.101 opt) gold from 79.2-83.8 m (260- 275 ft) depth, including 1.5 m (5ft) of 9.37 g/t (0.273 opt) gold from 80.8-82.3 m (265-270 ft) depth.
Drill holes WP-6, 7, and 8 were 91-152 m (300-500 ft) offsets of the gold mineralization encountered in drill hole WP-5. All three offset holes cut gold with the best intercept in WP-7 which was 120 m (400 ft) northeast of WP-5 and cut 0.73 g/t (0.021 opt) from 16.8-44.2 m (55-145 ft) depth. Gold mineralization remains completely open to the north and east, and possibly south of holes WP-5, 7, 8, and 9. Drill holes WP-9 through WP-15 were step-outs mainly to the south under gravel cover, which ranges from 8-29 m (25-95 ft) in thickness. The favourable Precambrian silt and limestone is present immediately under the gravel cover and altered with anomalous gold values. Hole WP-12 cut significant gold values, averaging 3.47 g/t (0.101 opt) gold from 79.2-83.8 m (260-275 ft), including 9.37 g/t (0.273 opt) gold from 80.8-82.3 m (265-270 ft) depth.
The controls of gold mineralization at Weepah are not as yet well understood, however the results to date clearly warrant additional drilling.
*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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