Large IP-Resistivity Anomaly Identified At Eureka Gold Project

COEUR D'ALENE, ID - Timberline Resources Corporation announced results of an Induced Polarization - Resistivity (IP) geophysical survey at its 100%-controlled Eureka Project in Nevada. The IP survey included 28.4 line-kilometers over eight lines, focused primarily at the Lookout Mountain Target. IP can be an effective tool for mapping subsurface electrical characteristics of the rocks related to the distribution of sulfide minerals and organic carbon, which are often associated with Carlin-type gold deposits. IP surveys may also help map fault structures that are related to or crosscut mineralization.

Some key highlights of the IP survey at Eureka include: A strong chargeability anomaly spanning at least two kilometers in a north-south direction east of the Lookout Mountain gold resource and east of the Rocky Canyon Zone; Identified two major fault zones: the Lookout Mountain Fault (LMF) which is associated with known gold mineralization, and the East Bounding Fault (EBF) which is undrilled; and A moderate chargeability anomaly occurs on the test line at the Windfall Target and has a similar morphology and relationship to known gold mineralization as at the Lookout Zone.

Timberline also previously reported a district-scale gravity survey at Eureka. These two large-scale geophysical surveys are complementary, and the Timberline technical team is working towards a fully integrated interpretation of these data with the growing geological database, mapping, and modeling.

Patrick Highsmith, President and CEO, commented, "The 2020 IP survey at the Eureka Project suggests a much larger footprint to the mineral system than is evident from drilling to date. Our integrated interpretation of the IP and gravity surveys in concert with our improved understanding of the geology has highlighted many new targets at Eureka. Our initial focus in 2021 will be to link the recently announced high-grade step-out drill intercepts with the main body of the Lookout Mountain resource."