Metallurgical Testwork Program Now Underway At Gold Basin Project

VANCOUVER - Gold Basin Resources Corporation has completed a diamond drilling program at the Cyclopic and Stealth deposits located within its 100%-owned Gold Basin oxide gold project, located in north-western Arizona. The drill holes were planned and drilled to provide fresh core for a metallurgical testwork program. In April and May 2021, a total of six (6) diamond core holes were drilled at the Gold Basin Project, and the primary purpose of these drill holes was to obtain fresh and representative core samples of the mineralized oxide ore. Four (4) holes were drilled along a 900m strike length of the mineralized Cyclopic structure zone, with each PQ sized core hole sited approximate to a reverse circulation (RC) hole that possessed consistent mineralized intercepts through the Cyclopic detachment and the underlying 40m detachment.  This approach was targeted to provide representative samples of both the higher-grade oxide ore (typically encountered along both detachment faults) as well as the low-grade zones that occur around and between these fairly flat lying shears.  The remaining two (2) diamond drill holes were drilled at the Stealth deposit approximately 900m west of the Cyclopic structure. Logging of the diamond drill core and sample selection for the metallurgical testwork program is in the process. It is expected that sample selection will be completed by July 5, 2021.

The Company has agreed to a Scope of Work for a testwork program that is designed to determine the head and leach characteristics for gold recovery from the Gold Basin Project oxide ore.  Fine gold is known to exist in the ore matrix and the PQ core samples will be split into two parallel streams: Conventional crushing; and High pressure Grinding Rolls (HPGR) crushing. The crushed material (consisting of 80% passing 6.3mm from both crushing methods) will then be separately subject to the gold recovery testwork.  This methodology will provide data for a comparative analysis of both crushing methods on the gold recovery.

The crushed material will also undergo a series of tests that includes: Direct cyanidation - coarse bottle roll test; Preliminary agglomeration; Compacted permeability tests; and Column leach tests. The initial column leach period will be sixty (60) days with additional time if deemed necessary.  It is expected that the total timeframe for the metallurgical testwork program from commencement to the final report will be approximately 4-6 months.