Core-drills Porphyry Copper Mineralization At Elder Creek Project

COEUR D'ALENE, ID - Timberline Resources Corporation provided an update on drilling at the Elder Creek porphyry copper-gold project in the Battle Mountain Mining District of Nevada. The drilling program began in mid-September and is now complete.

Reverse circulation (RC) drill hole RCEC18-01 was previously reported to have intersected 110 feet (34 meters) of 0.44% copper in the near-surface oxide zone. The hole averaged 0.21% copper over its 500 foot (152 meters) length, and was stopped at 500 feet due to depth limitations of the rig.

Reverse circulation drill hole RCEC18-02 , located 3,250 feet (1,000 m) southeast of RCEC18-01, was bottomed at 840 feet (256 meters) in abundant groundwater and highly siliceous rock. Based on favorable indications in drill cuttings, diamond core hole CCEC18-02 was mobilized to deepen RCEC18-02 to a target depth range of 1,250 to 1,500 feet (380 m to ~450 m).

Steven Osterberg, President and CEO said, "We are impressed with several hundred feet of drill core exhibiting extensive stock-work veining, intense mineral alteration, and visible iron, copper, and molybdenum sulfide mineralization. The drilling, combined with surface mapping and geophysical surveys, confirms that Elder Creek is a very large mineralized porphyry system. We look forward to the analytical results and additional drill testing."

Reverse circulation drill hole RCEC18-02 was collared within the non-magnetic circular core of the porphyry system. Drilling intercepted oxidized, hornfelsed Harmony Formation (arkosic sandstone), and a feldspar porphyritic intrusion with strong quartz-sericite alteration over its 840 foot (256 meters) length. Copper oxide minerals are visible in rock chips from above a redox boundary depth of approximately 250 feet (76 m) below which iron-, copper-, and molybdenum-sulfide mineralization is visible.

Diamond core hole CCEC18-02 deepened hole RCEC18-02 to a final depth of 1,497 feet (456 m) and targeted an un-tested flat-lying charge-ability/resistivity (IP/Resistivity) anomaly identified in historic data. The hole intercepted altered hornfels (after Harmony Formation arkosic sandstones), and feldspar porphyritic rocks reflecting multiple, overprinting intrusive events.Quartz stock-work veining is pervasive throughout as is intense silicification which is typically associated with sericite and pyrite alteration as is common in porphyry systems. Pyrite, chalcopyrite, and molybdenite occur distributed throughout the host rock (hornfels and intrusives) and in multiple variations of quartz veins as fine irregular-shaped disseminations, <1 mm to 2 cm-thick veinlets and veins, irregular clots up to 1 cm across, and as coatings on fracture surfaces. Local semi-massive arsenopyrite veins up to two inches (5 cm) wide have also been recognized.

Exploration data compiled from over 40-plus years of exploration on the property includes only limited shallow, historic drilling in the pronounced magnetic low, and only shallow drilling along the north and northeastern magnetic zone targeted primarily at gold. Geologic and geophysical characteristics, and rock geochemical sampling results evident at Elder Creek.