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SILVER PEAK MINING PROJECT
The Silver Peak Mining Project is an advanced exploration project focused on the past-producing Nivloc and “16-to-1” silver-gold mines in the Silver Peak mining district in Nevada. The Silver Peak Property consists of 3,943 contiguous acres covering no less than fourteen (14) fault zones, of which two (2) zones have historically produced 9.8 million oz of Ag and 52.9 thousand oz of Au.
NI 43-101 Technical Report
The 2019 Silver Peak Project NI 43-101 Technical Report prepared by Sears, Barry & Associates Limited, Sudbury, Ontario, Canada, updates the Company’s 2012 NI 43-101 compliant, independent Mineral Resource Estimate (the “2012 Estimate”) (see August 16, 2012, press release), providing data from nine additional drill holes including three that extended the length of the Nivloc Structure reported by Sears, Hollenbeck and Heyl in 2012, by about 60 metres, and six holes that targeted untested areas within the original 400-meter long target area over an un-mined portion of the historic Nivloc Mine.
Using the same general parameters as the 2012 Estimate (Sears et al, 2012) and a cutoff grade of 40 g/t (Ag equivalent), the updated Inferred Mineral Resource Estimate is 2,653,000 tonnes grading 96.85 g/t Ag and 0.67 g/t Au and containing approximately 8,262,000 oz of Ag and 57,000 oz of Au (the “Updated Estimate”).
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