Exploratory drilling was conducted at the 112-foot level, and core samples were assayed to determine the composition of the rock. Because of historic mining at that level, it was assumed that gold wouldn’t be encountered until greater depths were reached. However, the results of the assay were remarkable. Of the seventeen core samples, the high gold value of 53.8 grams per ton (“gpt”) was over an intercept of 1.2 feet. Five grab and channel samples were taken at the same level with one reporting gold at 90.5 gpt with silver at 476 gpt; a second sample came in with gold at 53.8 gpt with 89 gpt of silver, and a third with 19.8 gpt that contained the presence of free gold (literally pieces of gold). The assays are attached as exhibit A. By way of comparison and to understand the significance of these results, the operating mine in the United States with the richest gold veins reports an average of 44.1 gpt of gold. The Company believes these assay results validate its business plan and projections. These assay findings provide additional confirmation of the statements of mining historian Dr. David Forsyth, who recently told the Boulder Weekly that the old timers only got ten to fifteen percent of the gold deposits, and eighty-five to ninety percent of the gold in what was once considered the richest square mile on earth is still there.
|Sample ID||Sample ID||oz/ton||oz/ton|
*sample may contain free gold.
Core Sample Data
|Sample #||Sample interval (ft)||Au (opt)||Ag (opt)|