IRON POINT PROJECT
Large shallow vanadium system; in search of deep carlin style gold system
POTENTIAL DEPOSIT TYPE :
Lone Tree (4M oz Au), Twin Creeks (12M oz Au), and Turquoise Ridge (16M oz Au)
Vanadium
The deposit consists of two near-horizontal mineralized horizons that are amenable to open-pit extraction.
Primary vanadium mineralization hosted in Upper Plate siliclastic rocks occurs slightly above and west of the Iron Point gold zone, following a NNW trend that is at least 1600m long and 600m wide.
The company is currently working towards publishing a maiden NI 43-101 resource and a Preliminary Economic Assessment
*Denotes unknown true-thickness of mineralized drill intercept
Gold
Historical drilling defined a 7km-long mineralized shear zone.
Best hole (96IIPDDH-3) drilled by Aur Resources in 1996 hit aggregate of 27.4m grading 1.163g/t Au, including 3m grading 6.37g/t starting at 180m depth (NI 43-101 non-compliant).*
In 2019, core hole VM-8C hit low grade gold mineralization in silicified lower plate thin-bedded “dirty” limestone looking much like Roberts Mountain Formation. The hole bottomed at 710m depth in 5.8m grading 0.165ppm Au accompanied by elevated As, Sb, and Hg.*
*Denotes unknown true-thickness of mineralized drill intercept
Vanadium
Vanadium 2020-2021
exploration budget
Completion of PEA
Cost
Metallurgical Studies
$400,000
Resource Model
$100,000
Engineering
$100,000
Other Studies
$150,000
Holding Costs (735 Claims)
$131,580
Total
$881,580 USD
2021
Anticipated Exploration
Program - Vanadium
$881,580 USD
- Maiden NI 43-101 Resource
- Metallurgical and processing test work
- Complete PEA
Gold
2020-2021 exploration budget
Au re-assay drill pulps: ~4,000 samples,
$19.20/sample + $30.35 batch fee
$80,000
Database/Database Management
$18,000
Leapfrog 3D Modeling
$22,000
Conodont Program: 25 samples @ $200/sample
$5,000
Geophysics modeling including inversions
$15,000
Drilling: 6000m in ~8 holes,
avg $225,000/hole 750-900m drill depths
$1,900,000
Total
$2,040,000 USD
2021
Anticipated Exploration
Program - Gold
$2,040,000 USD
- Continue review of project data, address deficiencies and relog holes as needed for consistency
- Update the 3D model
