The project contains 72 unpatented mineral claims over an area of 560ha, located about 25kms from Newmont’s Lone Tree Gold Mine and 30kms from Sleeper Gold Mine.

Newmont Mining formerly Sante Fe Pacific Gold undertook exploration and computer modeling work at Winnemucca property and identified a gold zone containing an estimated 4,580,000 million tons grading 0.028 opt gold.

Punchline president and CEO Ramzan Savji said that the Winnemucca Mountain Property contains a well-defined gold zone and with significant potential in both possible tonnage and grade.

"We look forward to quickly establishing the next phase of exploration and development at Winnemucca and intend to proceed with additional mapping, sampling, and drilling as soon as possible," Savji added.