HIGHWAY 50 GOLD CORP. 50 Gold Corp. is a mineral exploration stage company ... years of experience...
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HIGHWAY 50 GOLD CORP. HWY–TSX-V Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and deal-makers. The Company is executing an exploration plan developed over 25 years of experience in Nevada and its projects are a result of proprietary breakthroughs in the understanding of north-central Nevada’s crustal architecture. GOLDEN BREW PROJECT The Porter Canyon claims are 100% owned by the Company and there are no underlying royalties. Porter Canyon is located on a pediment covered bench outboard of the western flank of the Toiyabe Mountains on the western edge of the Quito Mine Lower-plate window. The geology here has lithological and structural similarities to a number of major Carlin-type depos- its in north-central Nevada. In March 2012, the Company announced the results of RC drillhole PC-11-1 which was located one mile off the rangefront and was targeted to hit the edge of a horst block that is inferred by gravity and CSAMT surveys. This hole was lost at a depth of 1,400 feet due to heavy water infl w, most likely at the bedrock interface. Sampling of the colluvium returned a 1,000 foot section of highly elevated values in gold (to 174 ppm), arsenic (to 221 ppm), and antimony (202 ppm). Subsequent prospecting found mineralized float of Upper- plate (to 1.7 grams/tonne Au) and Lower-plate (to 3.7 grams/tonne Au) as well as jasperoid in outcrop exposed on the pediment covered bench. The jasperoid assayed 54.3 ppm silver and 0.4% antimony. Small hand-excavated placer workings were also noted between drillhole PC-11-1 and the rangefront. Projected geology from the adjacent rangefront consists of an open shallowly plunging, north-westerly trending, breached, anticline which is cored by Roberts Mountains Formation and capped at least in part by Upper-plate lithologies. The northern limb of the anticline shows extensive solution collapse and intermittent mineralized jasperoids over a 1 mile strike length. This zone is coincident with the gold bearing float train on its western end. As well, the anticline is projected to intersect the western edge of the Quito Lower-plate window at the aforementioned horst block in the vicinity of drillhole PC-11-1. Golden Brew is located at the intersection of the southern flank of the Eastgate volcanic trough and the Western Nevada rift; both structures are major old crustal breaks. Gold mineralization at Golden Brew is hosted within jasperoid and silicified breccias over a strike length of 2,500 feet and widths up to 200 feet. The jasperoid is developed in thin-bedded limestones and limey siltstones and is anomalous in Carlin-type pathfinder elements of arsenic, antimony and mercury with gold values ranging from 0.1 grams/tonne to 4 grams/tonne. A priority target on the property is the edges of a structural horst block horst located one mile outboard of the jasperoid outcrop under shallow to moderate thicknesses of pediment cover. Drilling in 2011 intersected a 150 foot section of elevated arsenic and antimony at the south-east corner of the horst block within the favourable carbonate section. The horst block is coincident with the projected intersection of a set of crustal scale structures and a strong magnetic low. This magnetic low may refle t magnetic destruction of alteration related to the mineralizing system. Follow-up drilling will focus on the northeastern and southeastern structural corners of the horst block, areas of gravity lows within the gravity high. Gravity lows in this setting may be a function of alteration (decalcification) related to Carlin-type gold mineralization. In December 2013, the Company announced it had entered into an agreement with Regulus Resources Inc. (REG-TSX.V) whereby Regulus may earn a 50% interest in Golden Brew by expending US$5.0 million on exploration over a fi e year period with a minimum US$500,000 firm commitment in the first ear. PORTER CANYON PROJECT highway50gold.com
Transcript of HIGHWAY 50 GOLD CORP. 50 Gold Corp. is a mineral exploration stage company ... years of experience...
HIGHWAY 50 GOLD CORP.
HWY–TSX-V
Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and deal-makers. The Company is executing an exploration plan developed over 25 years of experience in Nevada and its projects are a result of proprietary breakthroughs in the understanding of north-central Nevada’s crustal architecture.
GOLDEN BREW PROJECT
The Porter Canyon claims are 100% owned by the Company and there are no underlying royalties. Porter Canyon is located on a pediment covered bench outboard of the western flankof the Toiyabe Mountains on the western edge of the Quito Mine Lower-plate window. The geology here has lithological and structural similarities to a number of major Carlin-type depos-its in north-central Nevada. In March 2012, the Company announced the results of RC drillhole PC-11-1 which was located one mile off the rangefront and was targeted to hit the edge of a horst block that is inferred by gravity and CSAMT surveys. This hole was lost at a depth of 1,400 feet due to heavy water infl w, most likely at the bedrock interface. Sampling of the colluvium returned a 1,000 foot section of highly elevated values in gold (to 174 ppm), arsenic (to 221 ppm), and antimony (202 ppm). Subsequent prospecting found mineralized float of Upper-plate (to 1.7 grams/tonne Au) and Lower-plate (to 3.7 grams/tonne Au) as well as jasperoid in outcrop exposed on the pediment covered bench. The jasperoid assayed 54.3 ppm silver and 0.4% antimony. Small hand-excavated placer workings were also noted between drillhole PC-11-1 and the rangefront. Projected geology from the adjacent rangefront consists of an open shallowly plunging, north-westerly trending, breached, anticline which is cored by Roberts Mountains Formation and capped at least in part by Upper-plate lithologies. The northern limb of the anticline shows extensive solution collapse and intermittent mineralized jasperoids over a 1 mile strike length. This zone is coincident with the gold bearing float train on its western end. As well, the anticline is projected to intersect the western edge of the Quito Lower-plate window at the aforementioned horst block in the vicinity of drillhole PC-11-1.
Golden Brew is located at the intersection of the southern flank of the Eastgate volcanic trough and the Western Nevada rift; both structures are major old crustal breaks. Gold mineralization at Golden Brew is hosted within jasperoid and silicified breccias over a strike length of 2,500 feet and widths up to 200 feet. The jasperoid is developed in thin-bedded limestones and limey siltstones and is anomalous in Carlin-type pathfinder elements of arsenic, antimony and mercury with gold values ranging from 0.1 grams/tonne to 4 grams/tonne. A priority target on the property is the edges of a structural horst block horst located one mile outboard of the jasperoid outcrop under shallow to moderate thicknesses of pediment cover. Drilling in 2011 intersected a 150 foot section of elevated arsenic and antimony at the south-east corner of the horst block within the favourable carbonate section. The horst block is coincident with the projected intersection of a set of crustal scale structures and a strong magnetic low. This magnetic low may refle t magnetic destruction of alteration related to the mineralizing system. Follow-up drilling will focus on the northeastern and southeastern structural corners of the horst block, areas of gravity lows within the gravity high. Gravity lows in this setting may be a function of alteration (decalcification) related to Carlin-type gold mineralization. In December 2013, the Company announced it had entered into an agreement with Regulus Resources Inc. (REG-TSX.V) whereby Regulus may earn a 50% interest in Golden Brew by expending US$5.0 million on exploration over a fi e year period with a minimum US$500,000 firm commitment in the first ear.
PORTER CANYON PROJECT
highway50gold.com
PROJECT LOCATION MAP / NORTH–CENTRAL NEVADA
BEDROCK GEOLOGY & INTERPRETATIONBEDROCK GEOLOGY & INTERPRETATIONBEDROCK GEOLOGY & INTERPRETATION
MANAGEMENT & BOARD OF DIRECTORS
Gordon P. Leask, P. Eng. President, CEO and Director
John M. Leask, P. Eng. Director
Megan M. Cameron-Jones Director & Corporate Secretary
Darryl Cardey, C.A. Director
C. Victor Chevillon, M.Sc. C.P.G Director
Peter Krag-Hansen Director
Art McQuade, CMA Chief Financial Officer
ISSUED SHARES 26,697,570 common shares
OPTIONS OUTSTANDING 1,850,000 at $0.35 – $0.61
WARRANTS OUTSTANDING 7,051,525 at $0.60 to February 28, 2015 128,100 @ $0.45 to February 28, 2015
FULLY DILUTED 35,727,195
WORKING CAPITAL $2.7 Million
all values in Canadian dollars
This information was reviewed and the contents have been verified by the Company's Qualified Person, Gordon P. Leask, P.Eng.
February 28, 2014
2300, 1177 West Hastings Street, Vancouver, BC V6E 2K3Tel: (604) 681-4462 / E: [email protected] / W: highway50gold.com
HWY–TSX-Vhighway50gold.com
CORPORATE PROFILE MARCH 2014
