Timberline Resources Corporation (TSXV:TBR) (OTCQB:TLRS) has received additional promising results from the 2021 drilling programme at its 100%-controlled Eureka Project in Nevada.
The company tested the Oswego Target with nine reverse circulation (RC) holes totalling 767m after successful completion of the Water Well drilling programme immediately to the west.
Several of the drill holes at Oswego encountered significant near-surface gold mineralisation, much of which appears to be oxided, based on preliminary analyses. The most significant new gold intercepts in these holes include:
- 35.1m at 2.32 g/t gold (oxide) from 6.1m depth in BHSE-213, including 19.8m at 3.93 g/t gold from 7.6m depth;
- 13.7m at 1.31 g/t gold from 3.0m depth in BHSE-215, including 6.1m at 2.49 g/t gold from 9.1m depth; and
- 9.1m at 1.72 g/t gold from surface and 12.2m at 1.22 g/t gold from 15.2m depth in BHSE-214.
“We are very excited about the results of Timberline’s first drilling at Oswego. The programme demonstrated the depth extent of the surface gold showing and confirmed the presence of higher-grade gold along the Oswego structure and in the adjoining wallrocks,” President and CEO, Patrick Highsmith, said.
“We see a big-picture symmetry of high-grade gold mineralisation flanking the IP anomaly on both sides. The Lookout-Water Well Zone-Oswego corridor may be one large mineral system connected at depth. There are many exciting targets to test. We will re-start drilling at the Water Well Zone later in May, and plan to drill more at Oswego this summer.”
The Oswego Target was identified by historical reports of high-grade surface sampling and shallow drilling in the early 1990s, but the area had seen no systematic exploration since then. The objective of the 2021 drilling was to test for downdip continuation of the high-grade surface sampling reported historically and confirmed by Timberline.
Drill hole BHSE-213 intercepted 35.1m of strong mineralisation along the Trench Fault beginning only 6.1m below surface. This result generally confirms and improves upon a historical drill hole in the area.
The Trench Fault has been mapped by Timberline geologists as a splay of the major Dugout Tunnel Fault (DTF) zone. The structure dips steeply to the west and down-drops younger rocks on the west against the older Eldorado Dolomite on the east. Timberline geologists believe that favourable units such as the Secret Canyon and Ninemile Formations are cut by this fault and may host gold mineralisation at surface and at depth.
The Ordovician-aged Ninemile Formation is a prolific host of gold at the Ruby Hill Mine (i80 Gold Corp.) in the north of the Eureka district.
For further information please visit: https://timberlineresources.co/
