The Permit includes 11 proposed drill sites that are situated along the largest identified vein, the Golden Trail Vein ("GTV"), which is over 1,200 meters long and has an associated alteration zone that averages 30 meters wide.
Gold values above 20 ppb are common within the zone and several samples above 9 grams have been taken in the central GTV area including one rock chip sample of decalcified limestone that contained over 28 grams gold. Continuous 5 foot trench samples returned 13.7 grams gold with 36.2 grams silver in one 5 foot trench, and 3.49 grams gold with 105 grams silver in a second 5 foot trench.
The Permit is valid for two years and may be renewed or amended at that time, subject to BLM approval. The Permit incorporates operational requirements, including management of local habitat, and reclamation requirements.
The Company has posted US $13,033 with the BLM as a financial guarantee which is the estimated reclamation cost.
The Golden Trail is situated on the recently identified North Eastern Nevada Gold Trend (also called the Pequop Trend), about 50 miles north of the Newmont Long Canyon Project and about 100 miles north of Pilot Gold’s Mount Kinsley Project.
In addition to Golden Trail, and given the recent resurgence of certain metals and related capital markets, the Company is actively reviewing other mineral prospects in the vicinity of the North Eastern Nevada Gold Trend as well as certain areas of Canada for potential addition to the Company’s project portfolio.
Any such additions will be announced, as will plans for drilling at Golden Trail when finalized. The Company’s diamond drill rig will be transported to Nevada in early June.
