PHOENIX GOLD PROJECT
Phoenix Gold Project Summary
| Eldorado Property | Plumas Property | |
|---|---|---|
| Ownership | 50% – PXA 50% – Newmont | 50% – PXA 50% – Bill Matlack |
| Claims | 1 patented claim (20 acres) | Extralateral rights allow PXA to both explore and mine down deep, even onto Newmont Lands |
| Exploration Summary | 2 RC drill holes in 2013 were drilled by Newmont | PXA – 7 holes drilled in 2014 totalling 4,400 feet Geologic mapping, surface geochemical rockchip sampling, drilling program, and magnetic survey. Six diamond drilling holes with a total length of 4,408 feet (1,343 meters) conducted in 2014 |
| Target | An outcropping ore-grade gold system that is both high grade structural and stratigraphic hosted A larger target is the mineralized pophyry comprising portions of a large high-grade copper-gold skarn at depth, intersected by Newmont drilling and drill proven on the adjacent Filippini property and also occurs in the bordering Sunshine Pit | Outcropping high-grade gold system Gold oxide/sulphides |
| Historical Gold Production | Yes | 1934 to 1942 |
Strategic Location in Battle Mountain
- Next to Nevada Gold Mines LLC’s Phoenix – Fortitude Gold / Copper mine, a JV between Barrick (61.5%) and Newmont (38.5%)
- Eldorado Property lies within Nevada Gold Mines’ approved Environmental Impact Statement (EIS) and Permitted Plan of Operations
This historical information is intended to provide the reader a sense of the historical mineralization at Eldorado. The key assumptions and parameters to determine the historical estimates are unknown and should not be relied upon as estimated resources or reserves. The information is not the prescribed categories of resources or reserves defined under NI 43-101. More work would be necessary to upgrade or verify the historical estimates, and a qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves, and the Company is not treating the historical estimates as current mineral resources or mineral reserves.