Disclaimer - Gunpoint Exploration · 2011. 4. 19. · Gunpoint Exploration Ltd website. It provides...
Transcript of Disclaimer - Gunpoint Exploration · 2011. 4. 19. · Gunpoint Exploration Ltd website. It provides...
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Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this presentation. This document may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
This update was prepared by E. Max Baker PhD, Member AustIMM, for posting on the Gunpoint Exploration Ltd website. It provides no assay from the current drilling program, and readers are advised not to make any investment decisions based on the data presented. The purpose of the presentation is solely to provide interested investors with an update on the layout of the 2011 drill program at Talapoosa, and a summary of drill progress to date. Drilling commenced on April 7th, 2011. No assays are likely to be available until late June or early July, and until that time no estimate can be made as to the success of the current program.
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Commencement of Drilling at Talapoosa April 2011
• 12,000 feet (3,700m) of Diamond Drilling HQ-NQ
• 14 holes
• Approximate drilling cost $70/foot ($180/m)
• Overall Cost Estimate $1,000,000
Earliest release of assays from 2011 drilling is likely to be some time in June or early July.
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Planned Drill Targets 2011
Existing Resource
Dyke Addit
Talapoosa Butte
Talapoosa Gulch
Red Ridge
Microwave
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Current Program and Sequence of Drill Targets at Talapoosa 2011
Red Ridge: AprilTalapoosa Gulch April to MayTalapoosa Butte May to early JuneDyke Addit or Microwave June
The order in which Targets are being drilled out is based on logistical factors such as ease of drill pad preparation, availability of water and water haulage, progress with BLM permitting etc. and does not reflect target ranking based on prospectivity.
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Planned Drill Targets 2011
Existing Resource
Dyke Addit
Talapoosa Butte
Talapoosa Gulch
Red Ridge
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GT_001, stopped by hanging-wall fault
GT_002, stopped by hanging-wall fault
GT_003 & 004Currently Drilling 003
Red-Ridge Area – SE End of Appaloosa Structurefirst four drill holes of 2011 drill program
Old Workings +1g/t from sulphide rich qtz veins(grab samples, 2010)
Three +5m wide zones of brecciation and veining, opal/chalcedony, targeting high-grade at +100m below surface.
Appaloosa Hanging-Wall Fault, gouge-rich, difficult to drill.April 17th, 2011
Dip 70Dip 70
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Epithermal Veining and Brecciation in GT_003 @ 74-78’
Breccia
Opal/Chalcedony Veining
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Red Ridge Cross-Section
Postulated level whereHigh-grade mineralizationcould be expected, basedon epithermal models.
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Epithermal System Zoning
Targeted Zone for Drill HolesGT-003 and -004
Level of Surface ExposureAt Red Ridge (Anomalous As, Sb, Hg, Ag, Au)Rock Chip Sampling <0.1g/t Au
200-300 feet
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Talapoosa Gulch Cross-Section
Surface Channel Sampling across vein/breccia zone in late 2010: 3m@16g/t Au
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Talapoosa Gulch Bulk Tonnage Target
Chargeability AnomalyA Possible Bulk-Tonnage Target
Similar to Talapoosa
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Talapoosa Butte – IP and Drilling
Historic Hole TAL-213, 170’ to 205’, 35 feet @ 9g/t Au
IP Target Similar To Talapoosa
Talapoosa Orebody
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Talapoosa Butte – Resistivity and Drilling
Historic Hole 35’ at 9g/t Au
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Geological Mapping 2010
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Geophysical Data 2010Ground Magnetics
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Geophysical Data 2010IP Stacked Profiles
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Geophysical Data 2010IP Block Model
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FINANCIAL REPORT
PORTFOLIO (as of April 1st, 2010) BUDGET (to November 2011)
Net Treasury $1,500,000 (approx) General Admin $300,000
Talapoosa $1,000,000
Nevada Exploration $50,000
Mexico
TOTAL (approx.) $1,350,000