Jungo Property, Nevada

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2021 43-101 Technical Report For The Jungo Gold-Copper Project

General

  • Property occurs in the Jackson Mountains Terrane, a lithotectonic package comprising Jurassic island arc volcanic, sedimentary and intrusive rocks.
  • The Property (formerly known as the Shawnee Creek Property) is located 25 km NE of the Hycroft mine (approx. 25 Moz gold global resource) and 45 km SW of the Sleeper deposit (approx. 7 Moz gold global resource).
  • The property has received over $800,000 of exploration work since the 1990’s; Avidian has all the exploration data.

Target Type

  • Intrusion-related, structurally controlled Au-Cu mineralization similar to some of the Alaska, British Columbia and Yukon gold deposits occurring in Jurassic-age, island arc environments.

Land Status

  • 3.5 sq km in area, comprising  unpatented claims 100% owned by Avidian; 35 of the claims are subject to a 2% NSR.

Geology

  • Jurassic to Cretaceous stocks and dikes ranging from granodiorite to diorite intruding Triassic/Jurassic volcanic and sedimentary rocks.

Mineralization

  • All mineralization appears to be related to intrusions or structures. The majority of the mineralization occurs within sheared, strongly clay altered zones that locally contain gossan pods and stringers along with silicified fault breccia or fault gouge. The gossan pods are from oxidized, semi-massive sulphide zones that have been intersected in drilling.
  • Surface gold mineralization greater than 1 g/t occurs in a NNE-trending zone with over 2 km of strike length. This zone appears to be localized by a structural corridor and is also manifested by high chargeability and apparent resistivity.
  • Historical trench results include:
    • 6.10 m @ 2.12 g/t Au
    • 3.05 m @ 2.36 g/t Au
  • Historical drill intersections include:sc
    • 4.27 m @ 1.67 g/t Au, 57.7 g/t Ag, 2.72% Cu,
    • 1.52 m @ 2.50 g/t Au, 71.6 g/t Ag, 0.67% Cu.
    • 12.19 m @ 1.29 g/t Au, 28.6 g/t Ag, 0.72% Cu
  • Most of the historical drilling stopped short of testing their targets and may have been drilled down dip to the mineralized targets.
  • Geophysics suggests the presence of sulphide in association with intrusions with the IP data suggesting multiple phases of mineralization. The geophysical signatures are coincident with Au & As mineralization and structural NNE trends.
  • Many geophysical and geologic targets remain untested along a several km mineralized trend, with only a small fraction of this system partially tested to date.
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