Homie50
3 years ago
β$1,600 is going to be a footnoteβ¦I think gold is going to $2,500, $3,000/oz in the 2020s because the climate, the landscape for gold is so hugely supportive.β β Paul Schatz, President of Heritage Capital
Homie50
3 years ago
βOnce the CV-19 economic crisis is well defined and health issues are mitigated, the economy should have a good base to perform well. Negative interest rates will likely be the order of the day for a long time, which makes gold relatively cheap to hold. And, since and it is nobody's liability, which is quite opposite to government paper which will be issued to support all the spending needed by the trillions to fund the various stability programs throughout the G7, gold has a clear path towards $2,000/oz.β β Bart Melek, Head of Global Strategy TD Securities
247MarketAddict
3 years ago
Gold is concentrated along moderate to steeply dipping faults and along contacts within the Cambrian and Silurian-Devonian age stratigraphy (Figure 2). Clustered, high grade intercepts with nearby long intercepts of ≥1 g/t oxide gold (Table 1) occur at the Water Well - North Lookout, South Lookout, and Rocky Canyon Zones (Figures 1 and 3). Isolated, higher grade drill intervals are present throughout the Lookout Mountain Trend, including the more advanced South Adit Zone. These areas are all inadequately drilled.
247MarketAddict
3 years ago
Additionally, drilling has documented a much larger footprint of mineralization that extends two kilometers to the north and nearly four kilometers to the south of the Lookout Pit, while also covering at least one kilometer in an east-west direction. The 2020 drill program probed eastward into the Graben Zone from the resource area (Figure 2). Historic drilling and geophysics suggested the presence of important structures and alteration at depth. A strong IP anomaly was reported in February 2021, the periphery of which was documented by 2020 core drilling to host abundant pyritic and carbonaceous breccia containing anomalous gold, silver, lead, and zinc (see Company news releases dated February 3, 2021 and March 25, 2021 at http://timberlineresources.co/press-releases).
247MarketAddict
3 years ago
The 2020 district exploration program included geologic modeling, geophysics (IP and gravity), and a drill program that advanced several exploration targets along the Lookout Mountain Trend, the Windfall Trend, and the Oswego Target (Figure 1). However, drilling in 2020 was limited to the area around the historic Lookout Mountain Open Pit and eastward step-outs.
247MarketAddict
3 years ago
"We have significantly advanced our understanding of the higher-grade gold at Eureka. In 2020, we saw the interplay of favorable host rocks with structure and collapse breccias, yielding near-surface high-grade, oxide gold in drilling. Last year's geophysics and drilling identified several key structures, which we are now developing into prime targets for more drilling", commented Patrick Highsmith, Timberline's President and CEO. "We are planning for a very significant exploration program in 2021, focusing on high-value targets that build on the higher-grade portions of the Lookout Mountain Resource."
247MarketAddict
3 years ago
Timberline Resources Corporation (OTCQB:TLRS)(TSXV:TBR) ("Timberline" or the "Company") announces exploration plans for the 2021 field season at its 100%-controlled Eureka Project in Nevada. The plans are built upon historic work and results from the 2020 program that improved understanding of district and local controls on high grade (≥ 3 g/t) gold. The plan for 2021 features approximately 6,000 meters of drilling, 20 line-kilometers of Controlled-Source Audio Magnetotellurics (CSAMT), and 30 line-kilometers of IP/Resistivity (IP) along with geologic mapping and 3D modeling. The Lookout Mountain resource will be tested for expansion in three areas having drill holes with intercepts of high-grade Carlin-type (CT) gold. Drilling is also being considered on the Company's patented claims at the historic Windfall Mine where previous drilling intercepted high-grade gold. The Oswego Target will be advanced to follow-up on historic surface sampling, which included 85.7m @ 12.38 g/t gold in outcrop (see Company news release dated June 12, 2018 at http://timberlineresources.co/press-releases).
TheVeteran
3 years ago
In the Paiute area, the Harmony Formation is intruded by seven Cretaceous to Tertiary age felsic porphyritic intrusives as high level plugs, stocks, dikes and sills. Thermal metamorphism associated with the intrusions produced hornfels, quartzite and skarn in the Harmony Formation sediments.
A series of en echelon structures and sub-parallel faults define a strong N 10-20° E β striking structural zone through the central part of the property that extends approximately 16,500 feet in length and up to 1,500 feet in width. Secondary northwest and north-striking faults cut the northeast-striking structures. Locally, the structures are occupied by granodiorite porphyry dikes. The structures are typically altered and mineralized.
Hydrothermal alteration associated with the intrusions consists of argillization, silicification, and quartz veining/stockworks that are accompanied by zones of hydrous iron oxides as fracture fillings, disseminations, and occasional gossans. Chlorite + actinolite occur locally within quartz veins. Quartz veining occurs throughout the project area and increases in intensity within the alteration zones.
TheVeteran
3 years ago
Exploration data generated since 1977 by several operators including Newmont and Teck includes 111,565 feet (34,005 metres) of rotary drilling from 159 holes, 11,501 feet (3,505 metres) of core from five holes, extensive geochemical and geophysical data, and surface geologic mapping. A considerable database of district activity was included in the purchase and is expected to contribute to the development of several drill targets.
TheVeteran
3 years ago
Since June 2012, Timberline controls a large property block of patented and unpatented mining claims comprising essentially the entire Seven Troughs gold mining district near Lovelock in Pershing County, Nevada.
The purchased property package covers 4,100 acres, consisting of 64 patented and 238 unpatented lode mining claims, all of which are under a long-term lease agreement, along with 162 additional unpatented lode mining claims. The leased portion of the property package requires no lease payments or work commitments from Timberline.