Bull Project

Lease Status: Available

Exploration Target: Shallow Carlin style gold deposit mineralization in a very active district, open mineralization!

Property Highlights:

Bull has strong surface gold mineralization in local area favored host rocks, the Chainman Shale/Joanna Limestone group, with another great host rock below, the Pilot Shale.
Drilling in small area (300m x 300m) by BHP Minerals in the early 90s intersected strong gold mineralization with up to 30 feet at 1.15 g/t Au included in 85 feet at 0.542 g/t Au. This mineralized intercept may be open along strike, more drilling could be a quick winner.

Location and Land:

Bull is located in southwest White Pine County, Nevada, about 33 kilometers southeast of Eureka. This area has prolific gold mineralization and within the vicinity of the project are several current or past producing sediment hosted gold deposits : the Pan mine being currently operated by Minera Alamos is 8 kilometers southwest; the Easy Junior past producer and Gold Rock project under development by Minera Alamos is about 17 kilometers south, the past producing Mt Hamilton mine is 19 miles southeast, and the past producing and current exploration project Green Springs mine is 23 kilometers southeast (Figure 1). The land is all BLM land.

Deposit Type/Analog:

The Bull gold mineralization is typical Carlin-type gold mineralization, with gold associated with jasperoid development and a barite vein (Figure 2). The apparent target units will be the Chainman Shale and the Pilot Shale, the host rocks at the nearby Pan, Easy Junior, and Green Springs mines.

Geology:

The Bull project is situated on isolated outcrops of Joanna Limestone, Chainman Shale, and Diamond Peak Formation (Figure 3). These outcrops protrude through a thin pediment cover, as indicated by gravity data the number scattered small Paleozoic outcrops. Alteration at the surface consists of jasperoid, altered shale and a barite vein. Areas of jasperoid float occur about 0.5 kilometers to the northwest and have not been drill tested.

Gravity data (Figure 4.) and scattered bedrock occurrences indicate that the project area is situated over a pediment area with very shallow post-mineral alluvial cover.

History and Results:

The Bull project was found and explored by Wild Rose Exploration and BHP Minerals in the 1980s early 1990s. There is no data available from Wild Rose and and only partial data available on BHP drilling of 7 to 15 (?) holes (Figure 3), including gold and multi-element geochemistry for holes 1 to 7; no data is available for holes 8 to 15. Final drill locations are not certain as there are no remaining labels in the field, but Figure 3 shows the most likely layout. Newcrest Minerals explored the area and conducted a gravity survey, a magnetic survey, and drilled one hole in the project area, just south of the BHP drill area.

Hole 3 of the BHP program intersected 85 of strong gold mineralization, 0.542 g/t Au (Figure 5). Hole 2 was collared directly into the mineralized outcrops and shows no gold intercepts. However, there is no data for the upper 80 feet of this hole, likely indicating no drill cuttings were returned due to the broken nature of the mineralized zone and that it likely has strong gold values. This is an indication that there exists at Bull a 300 foot wide zone of ore grade gold that has not been provably tested on its likely extensions northeast and southwest.

The other BHP holes were likely drilled in a north-northwest string, and did not test possible gold mineralization along the northeast-southwest trend indicated in the outcrops. This zone could be readily expanded with more drilling along the presumed trend.

Potential and Exploration Scenario:

The Bull project has great potential to host near-surface Carlin-type gold deposits. Ore grades are known to exist, the right host rocks are present, and depths to mineralized zones should be moderate. The drill intercepts are likely in Chainman Shale, with the more productive Pilot Shale below. The project represents an excellent opportunity to define several hundred thousand ounces of near-surface, oxidized gold ore.The BHP drilling has already intersected ore grades and thickness and is readily open for expansion.