ABOUT THE JERSEY VALLEY PROPERTY

JERSEY VALLEY overview and Location

The Jersey Valley Property is interpreted to be an intrusion-related, sediment-hosted gold exploration project approximately 70 kilometres southwest of Battle Mountain by paved and gravel roads. It is an early-stage project, and the Property comprises 143 unpatented lode claims, covering 2954.5 acres (1195.7 hectares) and is located in a favourable structural and lithostratigraphic setting.

GEOLOGY
The lithostratigraphic units within the project area consist of calcareous siltstones and sandstones from the Havallah Formation, which have undergone significant silicification. The Havallah Formation is the primary host rock at the nearby Buffalo Valley and Lone Tree gold mines. On the Jersey Valley Property, outcrops of the Havallah include jasperoids, iron-oxide-stained, fractured calcareous siltstones, and acid-leached siltstone breccias. Rock samples from the area have yielded anomalous concentrations of pathfinder elements, including arsenic (2100 ppm), antimony (266 ppm), mercury (21 ppm), silver (4 ppm), and gold (up to 75 ppb). This geochemical anomaly and the acid-leaching observed in the calcareous units of the Havallah on the Property suggest strong vapour-phase alteration, possibly linked to a lithocap.

HISTORY
The property has seen limited exploration, with only a small amount of work carried out by two companies in the 1990s. This included a trenching program by Barrick Gold, although the results of the sampling from this work are not available. Uranerz Exploration and Mining Limited also drilled two westward-directed holes in the southern part of the property and three in the northern area. Attempts to locate the historical data from these programs have not been successful. At the time, drill depths of around 300 feet were common for exploration, which may not have fully tested the potential for deeper mineralization.