The resource estimate, which was prepared by Mine Development Associates of Reno, Nevada, consists of 286,000 ounces of gold in the measured & indicated resource categories and 206,000 ounces of gold in the inferred resource category, utilizing a cut-off grade of 0.006 ounces of gold per ton (opt) (0.21 grams per metric tonne (g/t)) for oxide material and 0.030 opt (1.03 g/t) for sulfide material.
The resource is comprised of approximately 80% oxide material and 20% sulfide material.
The Lookout Mountain resource area is within the five-mile long Ratto Ridge structural zone, one of three distinct structural zones at South Eureka, and is open along strike both to the north and south.
The company believes that infill drilling along strike will expand the gold resource at Lookout Mountain.
Timberline’s 23 square-mile South Eureka property is located within the greater Eureka Mining District which has a recognized gold endowment of approximately four million ounces.
