Ultra High-Grade Gold And Silver Discovered At Trixie Mine

EAST TINTIC DISTRICT, UT - Tintic Consolidated Metals LLC (TCM) reported the discovery of ultra-high-grade gold and silver bearing veins within its wholly owned Trixie mine in the East Tintic District, Utah. The Company recommissioned its Trixie Au-Ag mine in late 2020 and rapidly began exploration development on the existing 625’ level. Shortly after drifting began on this level, a previously unidentified ultra-high-grade vein was intercepted, which has been denoted the “T2 structure”. Horizontal development along this newly discovered, steeply dipping mineralized structure has demonstrated it to be continuously mineralized for at least 302 feet, with an average width of 6.6 feet and carrying a weighted average grade of 15.5 ounces per ton (oz/t) of gold (uncut) and 21.5 oz/t of silver.

The T2 structure is characterized by the presence of abundant bright green xocomecatlite (a rare copper tellurate mineral) within a 2-foot-wide footwall breccia, with adjoining intense quartz stockwork veining developed in the hanging wall of the structure over widths of 3 to 12 feet. Channel face sampling of these intercepts has revealed gold grades ranging up to 102 oz/t of gold and 192 oz/t of silver over continuous widths of up to 8 feet.

Tom Bowens, President and CEO, said, “Since TCM was formed as a joint venture between IG Tintic (75%) and Chief Consolidated (25%) in June 2019 there has been remarkable progress made. In only 20 months, the Company has reclaimed the surface infrastructure, reopened the first of a series of historic precious metal mines, and made a significant new gold discovery. The pace at which the Company has added value to the district is a testament to the skills of the Company’s team of exploration, mining, and development professionals. It is the Company’s vision to bring this famous district back on-line as a major US gold, silver and copper production center over the coming years. This discovery is a very significant step towards achieving that goal and provides a remarkable platform for the future development of the Company.”

The Trixie mine is the first of a series of legacy mines TCM is targeting to re-open on its extensive property holdings. Importantly, the Trixie mine is fully permitted with necessary environmental permits and bonding in place. The adjacent Eureka Standard high-grade gold mine anticipated is currently being investigated for a potential re-opening in 2023. Furthermore, TCM is planning exploration for a prospective deep copper-gold porphyry deposit, with multiple porphyry targets identified on the property. The T2 structure strikes north-south, dips steeply to the east, and has been developed thus far over a strike length of 302 feet. Significant high-grade gold and silver mineralization has been recorded over the entire strike length and over widths ranging from 3 to 12 feet, with mineralization remaining open in all directions. Average gold grades within the xocomecatlite-bearing footwall breccia of the T2 structure typically range from 10 to over 100 oz/t, with the adjacent hanging wall stockwork vein zones averaging 1 to 3 oz/t of gold. Abundant visible gold is present in some ultra-high-grade samples. Importantly, this newly identified ultra-high-grade structure dips steeply towards the east, away from the historic mine development at depth. Significant depth potential and additional high-grade mineralization on this structure is interpreted both up and down dip. The identification and eventual exploitation of extensions to the newly discovered mineralization will be greatly enhanced by the existing infrastructure. In addition to the currently operational 625’ level, refurbishment is presently underway on the 750’ level.