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Newcrest Exploration Activity Confirms Epithermal Alteration over Six Kilometers Along Appaloosa Trend
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2023) - Gunpoint Exploration, Ltd. (TSXV:...
About this update from Gunpoint Exploration Ltd.
[{"type":"text","content":"Newcrest Exploration Activity Confirms Epithermal Alteration over Six Kilometers Along Appaloosa TrendVancouver, British Columbia--(Newsfile Corp. - March 2, 2023) - Gunpoint Exploration, Ltd. (TSXV: GUN) (\"Gunpoint\" or the \"Company\") is pleased to report the initial phase exploration results by Newcrest Mining Ltd. (\"Newcrest\") on Gunpoint's Appaloosa gold-silver project in central Nevada. As previously announced, Newcrest has elected to enter into the Option phase on an earn-in agreement (\"Agreement\") to acquire up to 75% in Gunpoint's Appaloosa property for payments totaling US$5 million, incurring US$35 million in exploration expenditures and delineating a minimum 1.0 million-ounce gold indicated resource (see Gunpoint's press release dated September 28, 2022).Newcrest has completed a multi-process and systematic surface exploration program on Appaloosa's 7 kilometer long mineralized structural zone and in some cases expanded the work to cover the Talapoosa portion (\"Talapoosa\") owned 100% by Gunpoint. The results to date show that within Appaloosa's broad hydrothermal system that is subparallel and 1 kilometer northeast of the Talapoosa trend, multiple footprints of potential gold-silver systems exist. Over Talapoosa, soil sampling indicates extensions of the existing deposit along strike and identified two new mineralized cross-cutting trends. Summary of Newcrest's 2022 Exploration Program1:5000 geological mapping over the entire Appaloosa TrendComprehensive field prospecting program including 3,150 rock and 378 soil samplesA ground gravity survey consisting of 450 stations over 250m x 250m gridHigh definition drone photogrammetry survey with 2.5cm resolutionDistrict scale SpecTIR Airborne hyberspectral survey completedArgon/Argon age dates of 17 vein and volcanics samples Exploration Highlights and Results Results from mapping confirm pervasive silica-adularia alteration over 6km along the Appaloosa trendDynamic multi-phase phreatic breccias cut by multiple veins with individual veins up to 7m wide in southeast AppaloosaConfirmed near-surface preservation of the hydrothermal system along entire trendGeochemistry results confirm multi-gram gold up to 2.15ppm, arsenic up to 5659ppm, antimony up to 1316ppm and mercury up to 26ppm over a broad area Ground gravity survey delineates a strong gravity low associated wit...