Major Exploration Program Launched At Eureka Gold Project
COEUR D'ALENE, ID - Timberline Resources Corporation announced exploration plans for the Eureka Project in Nevada. Exploration activities are well underway in a fully funded program encompassing numerous Carlin-type gold occurrences over the 62 km2 (24 mi2) land position. The 2021 exploration program includes follow-up to high-grade drill intercepts, defined as higher than 3 grams per tonne (g/t) gold, and tests new exploration targets. The program includes approximately 8,000 meters of reverse circulation (RC) and diamond core drilling, most of which will be outside the existing gold resource area. Reverse circulation drilling has just commenced.
The planned 2021 program includes: Approximately 6,000m of reverse circulation drilling along the Lookout and Oswego Trends; Approximately 2,000m of core drilling, primarily testing the Lookout, Water Well, and Graben targets; 19 line-kilometers of controlled source audio magnetotellurics (CSAMT) geophysics; 29 line-kilometers of induced polarization/resistivity (IP) geophysics; and New soil geochemical sampling in the northern portion of the property and re-evaluation of the 6,000-sample historical soil database.
"This will be the most comprehensive exploration program at our Eureka Project in many years. In 2020 we demonstrated that there are many high-grade gold intercepts, both inside the existing resource and beyond its limits, that can add significant value to our flagship project. Timberline's Carlin-type gold resource at surface with oxide mineralization provides a strong foundation for resource expansion, but the best growth potential at Eureka is from higher grade gold associated with the many under-drilled targets across the property," commented Timberline's President and CEO Patrick Highsmith. He continued, "Our fully-funded drill program will follow-up on higher-grade, drill-indicated gold at the Water Well Zone, South Eureka, Rocky Canyon, and Oswego targets. We strongly believe that additional untested targets will confirm the true district-scale potential of Eureka. These include new geophysical and geological targets, plus the obvious potential around the historical Windfall Mines."