Pony Creek is strategically-located immediately south of Gold Standard’s Railroad-Pinion Project and totals 9,540 hectares underpinned by a Carlin-type system with historic gold resources. It is a target rich environment underlain by well known, as well as, newly recognized key regional gold host units including the Webb, Devil’s Gate, and the Dark Star Pennsylvania-Permian sedimentary units.
Pony Creek contains large areas of prospective rocks that have never been sampled in the world-class Carlin Trend of Nevada. Numerous historic drill holes containing long intercepts of gold mineralization remain open for expansion through offset drilling based upon proper stratigraphic and structural understanding of ore controls.
The geology of Pony Creek is that typical of the southern Carlin Trend, characterised by middle to upper Devonian carbonate rocks through Permian clastic sedimentary rocks. Almost all significant gold mineralization identified to date in surface exposures and historic drilling is spatially associated with a 3.2-km-long and 1.2-km-wide Eocene age, porphyritic rhyolite intrusive body, either within it or in silicified and altered Mississippian-Permian clastic rocks immediately beneath and adjacent to the intrusion. This rhyolite intrusive body is variably hydrothermally altered and locally mineralized. This mineralization appears to be related to, or controlled by, north-, northwest and northeast-striking structures.
Pony Creek is an early stage exploration property and does not contain any mineral resource estimates as defined by NI 43-101. There has been insufficient exploration to define a mineral resource estimate at Pony Creek. It is uncertain if further exploration will result in targets on any of the properties being delineated as a mineral resource.
Extensive drilling completed on Pony Creek by previous operators. Database consists of 202 drill holes with an average depth of 185 metres.
Source: Historic drilling summarized in the NI 43-101 technical report entitled “Technical Report on the Pony Creek Gold Project, Elko County, Nevada, USA”, prepared for Contact Gold, with an effective date of March 15, 2017, and dated April 18, 2017, as prepared by Michael M. Gustin, C.P.G. of Mine Developments Associates of Reno, Nevada.
Pony Creek hosts historic gold resources based on estimates completed by Newmont (1983) and Mill City (2004). The maximum depth of drilling within the historic resource area is 300 metres, with the majority of holes drilled to a depth of 150 metres, with gold mineralization starting at the surface.
All scientific and technical information relating to the Pony Creek gold project is based on and derived from a NI 43-101 technical report entitled “Technical Report on the Pony Creek Gold Project, Elko County, Nevada, USA” (the “Technical Report”), prepared for Contact Gold, with an effective date of March 15, 2017, and dated April 18, 2017, as prepared by Michael M. Gustin, C.P.G. of Mine Developments Associates of Reno, Nevada. The information contained herein is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full details of the Technical Report which may be obtained from the Company’s issuer profile on SEDAR at www.sedar.com. Disclosure of the historical estimate in Contact Gold’s public disclosure, including this website, is derived from the Technical Report and has been judged to be relevant and therefore suitable for disclosure, however should not be relied upon. There are numerous uncertainties inherent in the historical estimate, which is subject to all of the assumptions, parameters and methods used to prepare such historical estimate and reference is made to the full text of the Technical Report with respect thereto. The historic estimate of mineral resources was estimated in conformity with generally accepted CIM “Estimation of Mineral Resource and Mineral Reserve Best Practices” Guidelines. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There are no other recent estimates or data currently available to Contact Gold, and a detailed exploration program is required to be conducted by the Company in order to verify or treat the historical estimate as a current mineral resource. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources