LB-Vixen Project

The LB-Vixen project is composed of 75 unpatented mining claims covering a total of 1500 acres located in the Jackson Mountains, Humboldt County, Nevada. The project resides in the northwestern portion of Nevada about 60 miles west of Winnemucca, Nevada. This project is considered an advanced exploration project with well defined drill targets based on previous geologic mapping, sampling and drilling.

The project covers a hydrothermal system similar to active mines and exploration projects in the area (Hycroft, Rosebud, Florida Canyon, Sawtooth), possibly underlain by a porphyry intrusive. Geology includes Permo-Triasic shale, limestone and basic volcanic flows intruded by a reported quartz-porphyry stock. Structures cutting the project area are high angle with northerly trends. Sulfur and mercury have been noted within clay altered structures. Jasperoid is intermittently developed within the same structures. Stockwork quartz veinlets are widespread in limestone in the footwall of the fault zone. Gossan zones up to 25% boxworks occur throughout the southern portion of the property. All zones contain anomalous gold values at surface.

Past physical work includes trenching and drilling along the footwall of the fault zone for approximately 3000 of its 12,000 feet of strike. Gold values at surface are anomalous with 100 to 500 ppb gold common. A total of 42 drill holes have been completed for 7,945 feet (average <190 feet/hole). All drill holes are vertical. Over 70% of the holes intersected anomalous gold (+150 ppb) over 20 feet or better. Several holes contain + 0.3 ppm gold over 20 to 40 feet. No drilling has been attempted on the hanging wall side of the fault. Deepest hole is 770 feet.

Historic drilling by U.S. Borax, WX Syndicate and Grizzly Gold identified substantial hydrothermal alteration adjacent to and within fault zones on the property. Geologic mapping has identified mercury and native sulfur within structures and in workings south of the drilling.

THistoric production from this trend is over 7.5 million ounces. Although most of the ounces produced have come from low grade ores, there is significant high grade found in the Rosebud area. Within the western portion of the claims, areas conducive for the formation of high-grade gold may occur within the hanging wall zone of the LB fault. However, the entire package of mineralized rocks encountered to date are reminiscent of the Sulfur/Hycroft model.

The LB project is leased to third parties through Nevada Mine Properties II. All data is available for review under a confidentiality agreement.