• Gold 50’s preliminary soil sampling program has outlined a 2 km zone of key pathfinder parts for Carlin-type gold deposits on the White Caps Venture
• Gold, arsenic, mercury antimony, and thallium are all strongly anomalous
• One-third of the 276 soil samples returned > 0.1g/t gold ( > 100 ppb)
• Gold averaged 0.527 g/t and mercury (Hg) averaged 4.44 ppm throughout these 92 samples. Higher than 1 ppm Hg in soils is taken into account extremely anomalous
• This program represents step one in making use of fashionable exploration strategies on the property in additional than twenty years
• Excessive-grade White Caps Mine produced greater than 125,000 ounces at circa 30g/t gold
• A number of untested near-mine and district targets stay to be drilled
• Trenching of the two km zone to start in early March, 2023

The soil sampling program outlined a strongly anomalous zone over 2km alongside strike from the high-grade White Caps Mine on patented claims (personal land). Arsenic, mercury, antimony and thallium – the important thing pathfinder parts for Carlin-style gold deposits have been all very anomalous.

Gold 50’s Managing Director, Mark Wallace, commented:

“Our preliminary White Caps exploration program has exceeded our expectations by confirming that the mission is extremely potential for Carlin-style gold mineralisation.

“We already knew that the White Caps Venture space had the best rocks and constructions for Carlin- fashion gold deposits. Historic work had by no means confirmed the presence of the Carlin-style path finders and the consistency and scale of those outcomes outperform even our most optimistic expectations.

“Our plan is to outline drill targets by trenching throughout the potential zones, finishing a drone magnetic survey, and enterprise area mapping. Engaged on our Patented claims means workflows might be accomplished rapidly.

“G50 has the crew in place to proceed working up White Caps and we look ahead to updating the market quickly on assays from our preliminary two diamond drill holes at our flagship Golconda Venture in Arizona. RC drilling is to begin by the top of the month.”

Determine 1 – Plan summarising outcomes from White Caps Soil Sampling

The soil sampling program comprised 276 samples collected on Gold 50’s patented claims. This system focused structural intersections inside the west-northwest placing Cambrian White Caps Limestone unit and cross-cutting north-south faults.

Of the 276 samples, 92 (33%) of the samples assayed larger than 0.1ppm or 0.1g/t gold, which is taken into account to be extremely anomalous. The common gold content material throughout these 92 samples was 0.527 ppm (= 0.527g/t). The ten finest samples ranged from 0.9g/t to 7.5g/t gold.

Carlin-style pathfinder parts together with arsenic, mercury, antimony, and thallium have been all current and extremely anomalous. The numerical averages of the assays for all 276 samples and the subset of the 92 extremely anomalous samples are introduced in Desk 1 under:

Desk 1 – Averages of White Caps Soil Pattern Outcomes

The outcomes for mercury are notably encouraging as any assay with > 1ppm mercury is taken into account a powerful consequence. The common mercury response throughout the 276 samples of 1.59 ppm is extremely anomalous.

Determine 1 above reveals the situation of the 276 soil samples and in depth zones with > 50ppb gold over roughly 2km of strike.

The seven goal zones recognized for follow-up are focussed on essentially the most anomalous assays for the pathfinder parts famous in Desk 1. Goal Zone 3 additionally has elevated sulphur, copper, zinc, and bismuth.

The White Caps Gold Mine is positioned between Goal Zones 5, 6, and seven, which was not sampled as a consequence of vital floor disturbance. The soil sampling program took nice care in avoiding disturbed areas and 33 deliberate samples weren’t collected as a consequence of floor disturbance and potential contamination, primarily attributable to historic mining.

Pictures exhibiting the pattern pit, pattern quantity and consultant pattern materials have been taken at every pattern web site using a theodolite-type app that captured the day, time and coordinates for every location.

Mineralisation on the White Caps Mine is concentrated alongside structural intersections inside the Cambrian White Caps Limestone unit which averages 20m in thickness. Quite a few cross-cutting north-south faults localise mineralisation inside the host carbonates. The soil sampling program and extremely anomalous soil outcomes prolong effectively exterior of the White Caps Limestone, rising our understanding and concentrating on of the district potential of the White Caps Venture.

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