Timberline drills 2.64 g/t gold over 16.8 metres at Eureka, Nevada
Timberline Resources Corp. [TBR-TSXV; TLRS-OTCQB] reported more drill results from the 2022 drilling program at its 100%-controlled Eureka project in Nevada. These five holes tested the northern limits of the Water Well zone (WWZ) and exploration targets farther north. Four of the five holes were drilled with diamond core and one was a reverse circulation (RC) hole. In aggregate, these five holes constitute approximately 2,263 metres of the recently completed 6,662-metre drill program at Eureka.
Four of the five drill holes encountered significant gold mineralization, while two holes intersected significant silver-lead-zinc. Some important conclusions from these drill holes are confirmation that the Carlin-type gold system continues to the north of a major fault zone bounding the north of the WWZ and confirmation of silver-lead-zinc mineralization related to granitic intrusions (carbonate replacement deposits or CRD type) in the north Lookout-WWZ area.
Two of the holes (BHSE-221C and 238C) were offsets of BHSE-220C, which encountered significant thickness of high-grade gold (44.2 m at 4.10 g/t gold). BHSE-237C and 239C pushed north across the fault zone into younger Ordovician rocks, and BHSE-236 was a big step across the valley into a new target area based on high gold in surface sampling.
Some highlights from this phase of drilling are included below (using cut-off grades of 0.3 g/t for gold and 1.0 g/t for silver) included drill hole BHSE-238C that returned 16.8 metres at 2.64 g/t gold from 178.9 metres depth, including 4.6 metres at 4.45 g/t gold from 182.0 metres depth. BHSE-221C returned 6.1 metres at 1.83 g/t gold from 332.8 metres depth, including 1.5 metres at 3.59 g/t gold from 335.9 metres depth.
BHSE-239C returned 9.4 metres at 1.09 g/t gold from 194.5 metres depth. BHSE-239C returned 6.1 metres at 1.33 g/t gold from 313.0 metres depth. BHSE-239C returned 3.1 metres at 3.77 g/t gold from 439.5 metres depth. BHSE-221C returned 35.1 metres at 10.1 g/t silver from 329.8 metres depth. BHSE-237C returned 79.2 metres at 8.2 g/t silver from 297.8 metres depth. BHSE-237C returned 30.5 metres at 12.2 g/t silver from 393.8 metres depth.
Patrick Highsmith, President and CEO commented, “These drill holes are our first test of the major fault zone that cuts through the northern part of the Lookout Mountain and Water Well deposits. One of the holes hit a nice zone of +3 g/t gold, as we have come to expect from the Water Well Zone. The overlapping Carlin type gold and older CRD silver mineralization is becoming an earmark of the Eureka Gold Belt, now in evidence at various places along more than 8km of the trend from i80 Gold’s Ruby Hill Mine in the north to the Water Well zone in the south. Drill hole BHSE-237C cut more than 200m of strongly enriched silver. We look forward to reporting more results from south Water Well Zone and the Oswego target during the fourth quarter.”
Considerable work remains to be done in the Relay Zone as this RC hole is Timberline’s first drilling in the area. There is significant gold in surface sampling of silicified limestones (0.033 to 4.9 g/t in 19 samples). The recent drilling to the south and the historic drilling at the Rocky Canyon target (400m northwest) also indicate that the silver-rich CRD mineralization is widespread – another similarity to i-80 Gold’s Ruby Hill – Archimedes complex.
The summer drilling campaign has been completed, assays are awaited from RC and core drilling at the Oswego Target and south WWZ.
Timberline Resources Corporation is focused on delivering high-grade Carlin-Type gold discoveries at its district-scale Eureka Project in Nevada. The Eureka Property includes the historic Lookout Mountain and Windfall mines in a total property position of approximately 24 square miles.