Historical Sites Identified At The Gold Basin Project

VANCOUVER - Gold Basin Resources Corporation reported on the preliminary interpretations of 2023 LiDAR survey data, initial prospecting and the commencement of a soil sampling program from the Gold Basin oxide gold project in north-western Arizona. Gold Basin geologists have identified over 230 sites of historical, small-scale mining from 2023 LiDAR survey data. Approximately 70% (160+ sites) are undrilled and have no evidence of evaluation by modern exploration techniques. Discovery of visible gold (VG) during preliminary prospecting traverse at one of the undrilled sites 850 meters (m) east of the Cyclopic Deposit (“Cyclopic”). An initial 500-sample soil geochemistry program has commenced, with the ultimate goal of advancing multiple greenfields targets to drill-ready stage by Q3, 2023.

Colin Smith, CEO, said, “The 2023 LiDAR survey enabled Gold Basin geologists to view the district with centimeter-scale topographical precision, leading to the identification of over 230 sites of small-scale historical mining dating back to the late-1800s. The vast majority of these sites have never been drilled and have no record of exploration with modern techniques. A preliminary prospecting traverse discovered visible gold in a grab sample collected from an undrilled site 850 meters east of the Cyclopic Deposit. We are eager to accelerate fieldwork in this area to assess the potential for near-surface, bulk tonnage, oxide gold mineralization northeast of Cyclopic.”