__________________________________________________________________
CVN Exploration Property
Eureka Co. Nevada, U.S.A.
NI 43-101 Technical Report
Prepared for:
Gold Standard Ventures Corp.(Issuer)
2209 York Avenue
Vancouver, BC, Canada V6K 1C5
and
JKR Gold Resources Inc.
Suite 610-815 West Hastings St
Vancouver, BC, Canada V6E 1B4
Prepared by:
Dwight S. Juras, P.G., M.S., Ph.D.
Consulting Geologist and Qualified Person
and
Michael B. Jones, Ph.D.
Consulting Geologist
November 9, 2009
(Revised March 4, 2010)
(Revised May 11, 2010)
Gold Standard Ventures Corp.
CVN Exploration Project
TABLE OF CONTENTS (item 2)
Page
1
SUMMARY (Item 3)
5
2
INTRODUCTION (Item 4)
2.1 Sources of information
2.2 Qualifications of Authors
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8
3
RELIANCE ON OTHER EXPERTS (Item 5)
8
4
PROPERTY DESCRIPTION AND LOCATION (Item 6)
4.1 Property Location
4.2 Mining Claims
4.3 Royalties, Agreements, and Encumbrances
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5
ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, IINFRASTRUCTURE,
AND PHYSIOGRAPHY (Item 7)
5.1 Access
5.2 Climate and Hydrology
5.3 Local Resources and Infrastructure
5.4 Physiography
5.5 Biology and Environmental Concerns
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HISTORY (Item 8)
6.1 Past History
6.2 Historic Mineral Resource/Reserve Estimates
6.3 Histroical Exploration Expenditures Prior to the JKR Gold Resources
Inc. Acquisition of CVN Claims
6.4 JKR Gold Resources 2009 & 2010 Expenditures Through March 31,
2010
6.5 Total Combined Previous Exploration Expenditures
GEOLOGICAL SETTING (Item 9)
7.1 Regional Geology
7.2 Local Geology
7.2.1 local lithologies
7.2.2 chalcedony veins
7.3 Structure
7.3.1 range-front structure
7.3.2 folds
7.4 Hydrothermal Alteration
7.4.1 alteration associated with chalcedony veins
7.4.2 alteration FeOx-amphibole alteration
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Gold Standard Ventures Corp
CVN Exploration Project
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DEPOSIT TYPES (Item10)
8.1 Low-sulfidation Epithermal Vein Model
8.2 Iron Oxide Copper Gold (IOCG) Model
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MINERALIZATION (Item 11)
9.1 Scoop Sample Geochemistry
9.2 Rock Chip Trace-element Geochemistry
9.2.1 trace-element abundance patterns in chalcedony veins
9.2.2 trace-element anomalies associated with high FeOxamphibole
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EXPLORATION (Item 12)
25
11
DRILLING (Item 13)
11.1 Bullion River Gold Exploration
11.1.1 summary of Bullion River drill holes
11.1.2 Bullion River drilling cross-sections
11.1.3 range-front veins, alteration, and mineralization in
Bullion River drill holes
11.2 JKR Gold Resources Drilling
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SAMPLING METHOD AND APPROACH (Item 14)
32
13
SAMPLE PREPARATION, ANALYSES AND SECURITY (Item 15)
13.1 Bullion River Assay Quality Control
13.2 JKR Gold Resources Assay Quality Control
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DATA VERIFICATION (Item 16)
34
15
ADJACENT PROPERTIES (Item 17)
15.1 Historic Mines Proximal to the CVN Claims
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16
MINERAL PROCESSING AND METALLURGICAL TESTING (Item 18)
35
17
MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES (Item 19)
35
18
OTHER RELEVANT DATA AND INFORMATION (Item 20)
35
19
INTERPRETATION AND CONCLUSIONS (Item 21)
19.1 Exploration Targets
19.1.1 CVN exploration veining
19.1.2 CVN IOCG mineralization
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CVN Exploration Project
20
RECOMMENDATIONS (Item 22)
20.1 Proposed Drilling Program Summary and Budget
37
21
REFERENCES (Item 23)
23.1 General References
23.2 Epithermal Vein References
23.3 IOCG References
23.4 Soil Gas and Biogeochemistry References
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22
AUTHORS’ CERTIFICATES AND SIGNATURES (Item 24)
22.1 Dwight S. Juras
22.2 [page left blank intentionally]
43
44
(Item 25 not applicable)
23
ILLUSTRATIONS, TABLES, AND APPENDICES (Item 26)
23.1 Figures
Figure 1: CVN location map
Figure 2: CVN claim map
Figure 3: Geology
Figure 4: Vein croppings
Figure 5: Massive vein
Figure 6: Bladed quartz
Figure 7: Vein breccias
Figure 8: Stockwork veins
Figure 9: Alteration in latite
Figure 10: Geology northern area
Figure 11: Gold in scoop samples
Figure 12: Arsenic in scoop samples
Figure 13: Mercury in scoop samples
Figure 14: Copper in scoop samples
Figure 15: Gold in rock samples
Figure 16: Mercury in rock samples
Figure 17: Arsenic in rock samples
Figure 18: Antimony in rock samples
Figure 19: Molybdenum in rock samples
Figure 20: Copper in rock samples
Figure 21: Zinc in rock samples
Figure 22: Lead in rock samples
Figure 23: TC-1 cross-section
Figure 24: TC-2, 3 & 5 cross-section
Figure 25: TC-4 cross-section
Figure 26: Bonanza vein model
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Gold Standard Ventures Corp
CVN Exploration Project
Figure 27: JKR Gold Resources permitted drill sites
23.2 Tables
Table I: scoop sample values
Table II: rock sample values
Table II: CVN Bullion River Gold drill holes
Table IV: Summary Bullion River Gold CVN drill results
23.3 Appendices
Appendix A
Table V: CVN claims list
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CVN Exploration Project
1.0
SUMMARY (Item 3)
The Crescent Valley North Project (CVN) in Eureka County, Nevada, is an early exploration
stage, low-sulfidation epithermal, quartz vein and stockwork gold property controlled JKR Gold
Resources Inc. (JKR). JKR Gold Resources controls 172 unpatented lode mining claims
comprising approximately 3400 acres or a little over 5 square miles of mineral rights. Gold
Standard Ventures Corp. has agreed to acquire, by way of statutory plan of arrangement, 100%
of the issued and outstanding shares in the capital of JKR Gold Resources Inc., resulting in a
reverse takeover of Gold Standard Ventures Corp.
The prospect consists of a epithermal-type vein system developed along the western margin of
the northern Cortez Range. The veins are hosted in Jurassic volcanic and volcaniclastic rocks
that crop out along the range front formed by the Crescent fault. This chalcedony/quartz-calcite
breccia-vein system crops out discontinuously for 12,500 feet (3800 meters) in a north-northwest
trend along the range front and for at least 9,400 feet (2800 meters) on the CVN claims with
abrupt changes in NNW to NNE-strikes and moderate W-dips. The range-front vein system is a
zone of multi-event, silica-healed, hydrothermal breccias that have expanded the original
structures by explosive excavation and subsequent vein filling. As seen in outcrop, vein breccias
consist of fragments of wall rock as well as earlier formed chalcedony in a chalcedony/quartz
matrix. Up to 50 percent of the vein zone may consist of breccia fragments. Small portions of
the veins in outcrop and drill holes display minor repetitive banding, coarsely-bladed calcite, and
quartz pseudomorphs of the calcite, that typically represent boiling of hydrothermal fluids and
deposition levels of gold.
Surface sampling and analysis within and along the major veining have revealed low grade gold
values along the extent of the veining on the CVN. The vein zone is thickest (outcrops the
widest) where outcrops of the vein are concave west, and this is where some of the highest gold
values occur. Gold and silver values in outcrop and in drill samples are weakly to moderately
anomalous. Rock chip samples from chalcedony/quartz veins range up to 0.241 ppm Au and 1.5
ppm Ag. Subsidiary intersecting major veining with similar cryptocrystalline silica (chalcedonic
quartz) lies along NE-strike, moderate NW-dips, and contains similar gold values but associates
with higher base metal values. The overburden (fill) of Crescent Valley begins immediately west
of the surficial veining, covering its dip projection and some of its strike projections. Five
previous drill holes revealed more extensive mineralization and alteration with similar gold
values that increase to moderate depths down dip. That drilling revealed veining that is 30 to
180 feet thick, and includes relatively massive chalcedony veins (chalcedony fragments in
chalcedony matrix) up to 60 to 70 feet thick. Drill samples within 20 feet of the zone of
chalcedony/quartz veins range up to 0.055 ppm Au and 1.3 ppm Ag. Drill samples from
footwall phyllic alteration up to 350 feet below the vein zone range up to 0.395 ppm Au. Cross
section interpretations of the previous drill holes indicate that the veins project westerly at dips
of about 45o to 60o from the range-front vein outcrops. The drill holes intersected the vein zone
up to 800 feet down dip from its outcrop and 550 feet below the surface.
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CVN Project Report
The CVN chalcedony/quartz breccia-vein system fits into the low-sulfidation epithermal vein
model as proposed by Buchanan (1981) and modified by Wake (2006). The main CVN vein as
exposed in outcrop and up to 800 feet down dip in drill holes would be placed relatively high in
the model. The general lack of adularia, crustiform textures, and sulfide bands within the vein
combined with the abundance of massive chalcedony, bladed textures of calcite
chalcedony/quartz replacements of calcite, and sparse amethyst position the explored portions of
the main vein and its footwall veins above the expected level of highest, possibly bonanza, gold
values. Although the sampling and analyses returned only low values in gold on the CVN todate, bonanza gold vein systems typically show similar gold values well above boiling levels of
bonanza gold deposition, as well as low gold values in adjacent veining that formed during
different stages of the system boiling. Such distributions of gold are common in other bonanza
gold vein systems in east central Nevada. Although the age of the veining is not clear, the
authors believe that the veining formed in the early Tertiary at a time when other bonanza gold
vein systems and mine orebodies formed in east central Nevada. JKR seeks to explore westward
into Crescent Valley for more extensive veining and bonanza vein systems at depth.
The pathfinder and base metal element zoning patterns, with their apparent center on the portions
of the vein with relatively higher calcite, suggest that the central to northern part of the vein may
be a local center for more intense fluid boiling, or resurgent boiling, and potential mineralization
at depth. The previous drilling did not test these areas to depth.
Alteration assemblages and associated trace elements with affinities to iron oxide-copper-gold
(IOCG) mineralization occur near the northern segment of the CVN veining, and presents a
subsidiary exploration target. The diverse mineralogy of this mineralization includes hematite,
magnetite, strong goethitic replacement of hematite and magnetite, very coarse amphibole and
magnetite-amphibole intergrowths, quartz-tourmaline, coarse apatite, hydrothermal barite,
chlorite, clay, and breccias with black silica- and pyrite-rich matrices. Most of these alteration
products are hosted in latite. The alteration is sporadically expressed in croppings and float in a
northeast trending zone about 2,000 feet long and 800 feet wide.
Scoop and rock chip samples from this area are anomalous in several elements. The highest
values for all CVN scoop samples are from the IOCG area for Au (max. 0.394 ppm), As (max.
76 ppm), and Cu (max.72 ppm). Similarly for all CVN rock chip samples, the highest values are
from the IOCG area and include Au (max. 0.554 ppm), As (max. 1985 ppm), Cu (max. 298
ppm), P (max. 8760 ppm), and rare earths La (max. 190 ppm) and Ce (max. 251 ppm). Zoning
systematics in alteration and trace element geochemistry are not currently documented. Detailed
geologic mapping and sampling may define the controls and economic potential of the IOCG
mineralization.
A core drilling program was conducted by JKR Gold Resources Inc. December, 2009 and
January, 2010 to provide a preliminary test of the bonanza vein model. Very difficult drilling
conditions were encountered in the altered, broken structural zone at the top of the target zone.
Only one of 3 holes attempted was successful in providing a target test. Hole number CVN09-1
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CVN Exploration Project
was completed to 1345 feet. Holes CVN 10--1 and 10-3 were drilled to 561 and 558,
respectively and failed to reach the targeted rock units and veins. The drill program was halted
because of deteriorating access conditions due to weather and the difficult drilling problems.
Completion of the Phase 1 drilling program which was begun December, 2009 and terminated in
January, 2010 is recommended. This drilling is warranted to provide additional tests of the
bonanza vein target opportunities on the CVN property along the approximately 3 to 4 kilometer
long, northwest-trending vein system indicated to be present in the range margin exposures.
Reverse circulation drilling to penetrate through the difficult altered, broken rock of the footwall
structural-zone, followed by core tails to drill through the vein target zones is recommended.
Proposed Budget
Geological supervision (60 days @ $600/day)
Surface sampling: 250 samples @ $20/sample
Additional site prep and reclamation bonding, 2-3 sites
RC drilling of 5 pre-collars, each 500 to 800 ft, 3000 feet @ $25/ft
3000 ft casing @ $12/ft
Core tails drilling, 5 holes, ea 1000 ft, 5000 ft total @ $80/ft
Assays RC cutting and core, 1600 samples @ $20/sample
Total (in US dollars)
2.0
$36,000
$5,000
$10,000
$75,000
$36,000
$400,000
$32,000
$594,000 (USD)
INTRODUCTION (Item 4)
This technical report has been prepared for JKR Gold Resources Inc. and the issuer: Gold
Standard Ventures Corp., on the Crescent Valley property located in Eureka County, Nevada.
Purpose of the Report
JKR Gold Resources Inc. and issuer: Gold Standard Ventures Corp. commissioned the authors to
prepare a report consistent with Canadian National Instrument 43-101 standards. The report
presents and summarizes the historic and current project exploration data and the target concepts
derived from them. The report has been recently revised to accommodate additional information
and clarifications requested by the TSX Venture Exchange and also provide additional new
information from a recent drill program conducted by JKR Gold Resources Inc.
2.1 Sources of Information
Information available for the CVN Project includes public domain documents and private
company exploration data in the possession of JKR Gold Resources. The private information
includes surface sample and drill data and project reports. The References section of this report
cites all sources of information and data.
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CVN Project Report
2.2 Qualifications of the Authors
The senior author, Dr. Dwight Juras, is the Qualified Person by NI 43-101 requirements, has 35
years experience. In 2007, he spent two days in the field reviewing the structural setting of the
main quartz vein on the CVN claims for Gold Run Inc. and in 2009, he visited the CVN with
Dave Mathewson and Dr. Mike Jones to collect check “scoop” samples.
The junior author, Dr. Mike Jones, has 35 years experience in metals exploration working for
major and intermediate sized companies and as a consultant. In 2008, he spent 23 days in field
mapping and sampling portions of the CVN claims.
3.0
RELIANCE ON OTHER EXPERTS (Item 5)
In addition to the work personally conducted by the authors, the authors relied heavily on
available data gathered and assembled by others, including and primarily those data collected
and assembled by previous geologists working for Bullion River Gold Co., Gold Run Inc., and
JKR Gold Resources Inc. Individual datum could not always be substantively verified, but
everything appeared to be in order, quite usual, and valid, and are believed to provide a credible
record of the work conducted on the property.
The authors are not insiders and do not have ownership or special interest in, nor promise of
future business dealings with JKR Gold Resources. The authors will receive consulting fees for
preparation of this Technical Report.
4.0
PROPERTY DESCRIPTION AND LOCATION (Item 6)
4.1
Property Location
JKR Gold Resources’ CVN (Crescent Valley North) property is in Eureka County, Nevada, 17
miles south-southwest of the town of Carlin and 35 miles southwest of Elko (Fig. 1). Most of the
property is on the south and west sides of Iron Blossom Mountain in the northern Cortez Range
and covers the western range front. The claim block encompasses about 5.3 square miles and
includes parts of sections 20, 29, 30, and 32, T. 31 N., R. 51 E. and sections 4, 8, and 16, T. 30
N., R. 51 E. Regionally, the property is 19 miles south-southwest of Barrick’s Goldstrike pit and
30 miles northeast of Barrick’ Pipeline pit.
4.2
Mining Claims
The property consists of the contiguous unpatented CVN lode claims (Fig. 2) numbered 1
through 172 located in the name of KM Exploration Ltd. Unpatented claims are located by
physically placing a post with a notice of claim location on land that is open to the public for
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CVN Exploration Project
mineral acquisition by staking, within 60 days of the location, the respective 4 claim corners
must be staked, and the claim must be filed with a location map in the respective County
courthouse and also with the State BLM office at a cost of $37.50 per claim to the County and
$189.00 per claim with BLM. The list of claims and their BLM serial numbers are in Table V,
APPENDIX A. All claims may be tenured indefinitely for as long as the annual maintenance
fees are paid. The current cost totals $150.50 per claim (BLM $140, Eureka County Notice of
Intent $10.50) or $25,886 for the claim block.
Surface access is public and open to everyone. Disturbance in the form of road building, drilling
access, site preparation, and trenching must be permitted and bonded for reclamation with the
United States Bureau of Land Management (BLM). This process has been expeditiously utilized
in an unencumbered fashion by Bullion River Gold Co., Gold Run Inc. and recently by JKR
Gold Resources Inc.
4.3
Royalties, Agreements, and Encumbrances
A Title Report on the CVN 1-172 Claims, dated April 13, 2010 has been provided to JKR Gold
Resources/Gold Standard Ventures Corp. by Richard Thompson, of Harris and Thompson, an
Association of Attorneys, located in Reno, Nevada.
The following are excerpts from this title report:
The claims are owned by David C. Mathewson. The first CVN claims (#1 through #14) were
staked October 14, 2002 by KM Exploration, a partnership of David C. Mathewson and David C.
Knight. The CVN claims of 14 through 176 were staked at various times subsequent to CVN 114 between 2002 and 2008 in the name of KM Exploration. David C. Mathewson acquired
ownership of the CVN claims from KM Exploration by quitclaim and assignment from KM
dated January 5, 2009. The claims were at the time under lease to C3 Resources. Aurelio
Resources Corporation acquired C3’s lease in June of 2009, and August 31, 2009 JKR Gold
Resources Inc and Aurelio Resources Corporation signed a purchase option agreement whereby
JKR Gold Resources Inc. acquired a 100 percent interest in the CVN claims subject to a
cumulative 5 percent NSR royalty with a buy-down to 3%, and annual rental fees that escalate to
$60,000 (adjusted upward for increases in the Consumer Price Index).
The claims are on public lands administered by the Bureau of Land Management.
Previous surface disturbance bonds have been readily obtained and released by the BLM. A
reclamation bond of $13,001 is currently in place to cover reclamation of the access and site
disturbance related to the late 2009 early 2010 exploration program conducted by JKR Gold
Resources.
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CVN Project Report
There exists on the property one small cultural site that have been identified and described by the
BLM; these sites are easily avoided by exploration activity and would appear to provide no
negative impact to exploration activities.
5.0
ACCESSIBILITY, CLIMATE, LOCAL RESOURCES,
INFRASTRUCTURE AND PHYSIOGRAPHY (Item 7)
5.1
Access
Access to the property is via 16 miles of dirt road south from Palisade Exit 271 on I-80 or 10.5
miles of dirt road southwest from State Route 278 at the turn-off to the old town site of Palisade.
Road access within the claim block is poor. Rancher’s two-track jeep roads access cattle salt
licks and springs along the range front. During late winter and early spring thawing snow turn
the dirt roads to mud. Drive time is about one hour between Elko, Nevada, and the property via
the State Route 278 access.
5.2
Climate and Hydrology
The climate in the vicinity of the claims ranges from arid to semi-arid. In the western part of the
claim block in Crescent Valley below elevation of 5,800 feet annual precipitation is expected to
be 8 to 12 inches per year. Above 5,800 feet annual precipitation is estimated at 12 to 15 inches
(Johnson, 2001). July through October are the driest months and April through June are the
wettest (Johnson, 2001).
Thomas Creek, in the south half of the claim block, is a perennial stream where it incises the
western edge of the Cortez Range and is intermittent further west in Crescent Valley. Low
earthen dams and stock tanks built and placed by ranchers provide water for cattle.
5.3
Local Resources and Infrastructure
A high-tension power line crosses the claim block about one mile south of Thomas Creek.
Carlin and Elko are on Interstate Highway 80 and the Union Pacific rail line.
Skilled miners, exploration and mining service contractors, and contract exploration equipment
(dozers, excavators, and drills) are available in Carlin and Elko. Accredited analytical
laboratories have sample preparation facilities in Elko.
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CVN Exploration Project
5.4
Physiography
The CVN property is in typical northern Nevada basin and range topography. Relief on the
claims is about 1,500 feet. Elevation ranges from about 5,200 feet at the western edge of the
claims in Crescent Valley to 6,698 feet at the summit of Iron Blossom Mountain. The break in
slope at the range front is about 5,600 feet in elevation.
5.5
Biology and Environmental Concerns
Vegetation on the claim block consists of sage brush and grass. To our knowledge, the CVN
claims contain no sensitive or endangered plant or animal species that would affect exploration
activities.
An archeological survey of the claims has not been made. The ruins named Thomas Place are
about one half mile east of the claim block. They are at the west edge of Section 3, T. 30 N., R.
51 E and designated on the Palisade 7.5 minute quadrangle map. The ruins consist of
foundations made of field stone for two cabins.
6.0
HISTORY (Item 8)
6.1
Past Exploration
There had been only minor exploration conducted on the property in the past and the prospect
appears to have been largely unrecognized for gold opportunity until the original staking in 2002.
Near the center of the property within the area referred to as the IOCG zone on figures 3 and 12
through 22, minor excavations including a small pit were conducted to explore the surface
exposures of this iron mineralization. This work appears to have been done between 30 to 50
years ago.
Newmont in the early 1990’s mapped the geology and soil and rock chip sampled the north side
of Iron Blossom Mountain, an area that includes the northern part of the CVN claim block.
Results of this work are not available to the authors.
The original CVN claims # 1-14 were staked by KM Exploration, Ltd, a partnership beginning in
2002 with additional claims between 2002 and 2008.
Bullion River Gold acquired the property by lease from KM Exploration Inc. in 2003 and drilled
five reverse circulation holes (four angle, one vertical) totaling 4,920 feet in 2004. The holes
ranged in depth from 860 to 1,020 feet. All the holes were designed to test the down dip (to the
west) projection of the chalcedony/quartz veins that crop out near the break in slope on the west
side of the range. A summary of the drill data is included in Section 11 of this technical report.
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CVN Project Report
Gold Run Inc. in 2007 contracted Dwight Juras to make a 2-day field review of the range front
vein to characterize its salient features (Juras, 2007). Following on Juras’ technical report, Gold
Run collected 226 samples of surface colluvium (scoop samples) from the range front in the
vicinity of the chalcedony/quartz veins on the CVN claims. Each sample consisted of composite
soil and rock chips scooped along 100 linear feet of the ground surface. The samples form a
nearly continuous line along the range front for 11,850 ft. Results of the scoop sample data are
included in this technical report.
In the fall of 2007, Allan Juhas (2007), under contract to C3 Resources, completed a
reconnaissance survey and report on 30 miles of western range front of the Cortez Mountains.
The area covered from the Barth iron mine on the Humboldt River in the north to about Mill
Creek in the south and included the CVN claims (Juhas, 2007).
During parts of September, October, and November 2008, Mike Jones, under contract to C3
Resources, mapped and rock chip sampled the chalcedony/quartz veins on the CVN claims. The
results of that work are summarized in this technical report.
Late in 2009, Juras visited the CVN property with Mathewson and Jones to collect check
“scoop” samples and confirm the applicability of the technique.
6.2
Historic Mineral Resource/Reserve Estimates and Production
There is no recorded production from nor any resource/reserve estimates for the CVN claims.
6.3
Historical Exploration Expenditures prior to the JKR Gold Resources Inc.
acquisition of the CVN claims.
Total exploration expenditures on the CVN claim block since their location in 2002 by KM
Exploration and prior to the JKR Gold Resources drilling are estimated to be about $220,000
(USD). This estimate is broken down as follows:
Drilling
Supervision and labor
Site preparation and reclamation
Direct drilling 4920 feet
Sample prep and analyses, 984 samples
Total
Scoop Samples
Collection and analyses, 226 samples
2008 Field Study
Mapping, sampling, report
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$ 20,000
$ 10,000
$123,000
$ 28,000
$181,000
$ 10,000
$ 24,000
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Rock Chip Samples, 2008 Field Study
Analyses, 152 samples
Total Estimated Expenditures
6.4
$ 5,000
$220,000 (USD)
JKR Gold Resources Inc. 2009 and 2010 Expenditures through March 31, 2010.
JKR Gold Resources expended a total of $253,788.78 (USD) in the drilling program conducted
in December, 2009 and January, 2010. This information is provided in the table below:
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CVN Project Report
6.5
Total Combined Previous Exploration Expenditures
The total of all previous, documentable work conducted on the CVN property is estimated to be
very close to $474,000 USD.
7.0
GEOLOGICAL SETTING (Item 9)
7.1
Regional Geology
The area of the northern Cortez Range during the early to middle Paleozoic Era (Cambrian to
Devonian Periods) was in the geographic transition between the shallow waters of the
continental shelf to the east and generally deeper water to the west. Carbonate sequences
dominate the shelf facies whereas siliceous shales and sandstones, chert, and marine basalts
dominate the western facies units. During early Mississippian time, the Antler Orogeny initiated
major compressional deformation. The western facies units were thrust tens of miles eastward
over the transitional and eastern facies rocks on the Roberts Mountains Thrust. Erosional debris
from the Antler highland filled foreland basins east of the high during later Mississippian time.
Latest Paleozoic marine sediments overlap the foreland basin. There is no record of marine
sedimentation after the Paleozoic in the vicinity of the northern Cortez Range.
The geologic record in the northern Cortez Range resumed in the Jurassic with the Iron Blossom
Mountain volcanic-intrusive center. This igneous complex developed in a continental (rather
than marine), backarc setting (du Bray, 2007). The exposure of Jurassic volcanic rocks is about
25 miles N-S and includes most of the northern Cortez Range (Muffler, 1964; Roberts et al,
1967). The Jurassic volcanic sequence (the Pony Trail Group) has type areas in drainages 2 to
10 miles southwest of the CVN project area (Muffler, 1964) and ranges from 3,500 to 10,000
feet thick. The basal unit is the Big Pole Formation volcaniclastic sandstones about 6,000 feet
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CVN Exploration Project
thick. The middle unit Sod House Tuff consists of 1,000 feet of silicic ash-flow tuffs. The upper
unit Frenchie Creek Rhyolite is at least 2,500 feet of rhyolite and rhyodacite flows. Hypabyssal
plugs of sericite and chlorite altered rhyolite were feeders for the Frenchie Creek Rhyolite.
Plugs and masses of monzonite and quartz monzonite underlie Iron Blossom Mountain and
intrude the volcanic sequence. In 2006, a 9,500-foot oil exploration well tested the pass between
Thomas Creek and Safford Canyon about 1 mile east of the summit of Iron Blossom Mountain
(Jones, 2009). The well, collared in the Jurassic volcanic sequence, intersected the latest
Paleozoic overlap sequence, and from 2,000 to 9,500 feet, was in quartz monzonite.
Cretaceous nonmarine sandstones and conglomerates of the Newark Canyon Formation crop out
on the east side of the Cortez Range.
Regionally, during the Tertiary, late Eocene and Oligocene siliceous igneous activity was
common in north-central Nevada (Henry and Ressel, 2000; John et al., 2007). An Eocene plug
intrudes the north end of exposed Jurassic volcanic rocks (Henry and Ressel, 2000). The late
Eocene (ca. 40 Ma) volcanic and related intrusive and thermal activity is the approximate age of
many Carlin-type, sediment-hosted, fine-grained gold deposits (Phinisey et al., 1996; Henry and
Ressel, 2000). These include Goldstrike on the Carlin trend 19 miles north-northeast and
Pipeline at Cortez 30 miles southwest of the CVN claims, respectively.
During the Miocene, volcanism changed to bimodal rhyolite and basalt (du Bray, 2007). Also in
the Miocene began the continuing normal faulting that generates the basin and range
physiography of Nevada (John et al., 2008; Wallace et al., 2008). North-northwest trending
faults of the Miocene Northern Nevada Rift localize the Mule Canyon gold deposit in Miocene
basalts and sediments (John et al., 1999; John et al., 2000; John and Wrucke, 2003; Camp and
Ross, 2004) 24 miles west of the CVN claims.
The Cortez Mountains fault zone bounds the west edge of the Cortez Mountains. The fault had
its inception about 9 Ma and was active at least into the Pleistocene (Anderson, 2000).
Dohrenwend and Moring (1991), as cited in Anderson (2000), show a major range-front fault
that bounds the western base of Iron Blossom Mountain. This fault ceased activity before the
Quaternary as it does not form scarps in Quaternary deposits and, therefore, Anderson (2000)
does not include the Quaternary as part of the Cortez Mountains fault zone. The
chalcedony/quartz veins on the CVN claims may be genetically related to this range-front fault.
7.2
Local Geology
Intermediate to felsic volcanic and fine-grained intrusive rocks of the Jurassic Iron Blossom
Mountain complex underlie the CVN claims (Juhas, 2007; Jones, 2009) and host epithermal
chalcedony/quartz veins that crop out along the western range front (Fig. 3). These veins, their
projections, and possible additional veins under pediment cover west of the range front are the
principal exploration target. A secondary target hosted in the Jurassic igneous complex on the
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southwest side of Iron Blossom Mountain has similarities to some iron oxide-copper-gold
deposits.
7.2.1
local lithologies
Within the area mapped by Jones, Jurassic units include green andesite and andesitic mud flows,
tan latite to quartz latite flows and strongly welded tuffs, and black rhyolite. The latites and
quartz latites display flow banding and flow breccia textures and are the predominant lithologies.
The andesites and latites may be part of the ash-flow tuffs that comprise the middle Sod House
Tuff unit of the Pony Trail Group. An exposure of rhyolite that covers a ridge top about 800 feet
north of Thomas Creek may be part of the upper Frenchie Creek Rhyolite sequence.
Fine grained monzonite and quartz monzonite plugs and rhyolite dikes intrude the volcanic
rocks. An aplite dike intrudes monzonite in the north end of the mapped area.
7.2.2
chalcedony veins
Major veining in the CVN is chalcedonic and their vein croppings generally follow the northnorthwest course of the range front (Fig. 3). This major veining dips westerly at about 45o to 80o
and crops out discontinuously (Fig. 4) in three major segments for at least 9,400 feet on the
claims and 12,500 feet overall. The major segments, from north to south, are 300 ft, 2,900 ft,
and 1,000 ft long, respectively, with gaps in exposure about 2,000 feet long. The northern
segment projects to the northwest under pediment cover and southeast through the gap to the
northern end of the middle segment. The middle segment projects southeast to the northern end
of the southern segment. The southern segment projects southerly under colluvium. Off the
claim block and about 2,800 feet south of the southern segment, another chalcedony vein crops
out along a northeast trend for 350 feet within surrounding colluvium.
Chalcedonic veins up to 6 feet thick consist of massive chalcedony and chalcedony-matrix
breccias in which the fragments are also mostly chalcedony (Fig.5). The veins are white with
pastels to pink and tan and are very hard and dense. They are composite with individual vein
pulses ranging from an inch to several feet thick and displaying cross-cutting relationships. They
also display internal banding on a scale of inches and are locally finely laminated with up to 20
laminae per inch.
Many vein exposures and chunks of float display patches and internal bands comprised of blades
1/8th inch thick and up to 2 to 3 inches long of very fine grained quartz or chalcedony (Fig. 6).
In places remnant, coarse-bladed calcite indicates that the chalcedony/quartz blades are
pseudomorph replacements of the coarse calcite. The coarse calcite and bladed texture of the
pseudomorphous chalcedony/quartz signify that the hydrothermal fluid boiled during vein
deposition (Dong et al., 1995; Cooke and Simmons, 2000; Hedenquist et al., 2000; Simmons and
Browne, 2000).
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The veins display multiple episodes of brecciation and subsequent healing with chalcedony
(Fig.7). Breccia fragments include chunks of quartzite, chert, and felsic volcanic rocks (Juras,
2007) likely derived from the Jurassic volcanic complex, and previously formed vein
chalcedony. The fragments are angular to rounded and up to about 8 inches across. In places up
to 50 percent of the vein consists of wall rock breccia fragments. Multiple cross-cutting and
enclosing relationships indicate at least four brecciation-silica healing events. Breccia in the
veining could have formed from interrelated episodes of faulting, hydrofracturing from flashing
steam, rock spalling, or replacement of wall rock by chalcedony along permeable networks
(Juras, 2007). The veining, as exposed, does not display breccia that is not healed with
chalcedony or quartz. Apparently, no significant movement occurred on vein-controlling
structures after the last episode of chalcedony deposition.
Major croppings of the range-front veining are widest (up to 100 feet) and longest (up to 700
feet) where the croppings bend convex west (Fig. 10, Avn, Bvn, and Cvn segments). In these
areas the veining is a complex zone of one or more massive chalcedony veins flanked by
network chalcedony veins and chalcedony-healed breccia.
In the footwall of the range-front veining, thinner (up to 2 to 4 feet thick) chalcedony veins strike
northeasterly and generally dip northwest. They extend up to 2,500 feet from the range-front
veining as float trains and isolated small outcrops (Fig. 10). The footwall also contains
chalcedony veinlet sheetings and stockworks (Fig. 8). The veinlets are 1/8th to 2 inches wide
with occurrence densities of two to 10 per foot. The footwall veins and stockworks developed
best within about 800 feet east of the southern segment of the range-front veining.
7.3
Structure
The Iron Blossom Mountain igneous complex is generally tilted east or southeast. Map patterns,
bedding, and volcanic flow-foliation in areas mapped by Juras (2007) and Jones (2009) indicate
the volcanic units generally strike northeast with moderate (~40o) southeast dips. These attitudes
are consistent with the general southeast tilt of the Cortez Range (Roberts et al., 1967; Anderson,
2000). The southeastward tilting in these rocks and Cretaceous rocks to the east, if post-vein,
could mean that the veins were originally sub-vertical. A semi-concentric drainage pattern
centers on Iron Blossom Mountain (Fig. 2). The outer-most ring, defined by Thomas Creek in
the south and Safford Canyon in the north, forms a sweeping westward-concave arc truncated by
the range-front structure. The drainages may reflect differential hardness in the generally
southeast-dipping volcanic units or concentric structures related to the Iron Blossom igneous
complex. Two measured fault breccias, one at Thomas Creek, the other at the north limit of the
mapped area, have similar attitudes of about N30oE, 65oNW. Lack of uniquely identifiable
volcanic units precludes modeling significant intra-range faults within the mapped area.
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7.3.1
range-front structure
The main vein segments that crop out along the western range front of Iron Blossom Mountain
presumably occupy one or more structural zones defined by the location of the vein segments.
The structure zone has an overall north-northwest trend. Attitudes on the vein segments indicate
westerly dips from 45o to 80o and imply similar attitudes for the structure. Footwall lithologies
are all part of the Jurassic Iron Blossom complex. Colluvium extends westward downslope from
vein croppings. Lithologies in drill holes in the hanging wall of the structure, however, are
similar to those in the foot wall. Exposures of the structural zone(s) as defined by chalcedonyhealed breccia and massive chalcedony ranges up to 100 feet thick from measured exposures at
the surface.
The age of the structure is uncertain. Jurassic host rocks and lack of scarps in the Quaternary
cover (Anderson, 2000) define its age bracket. The vein structure’s trend and dip are consistent
with but do not prove that it formed by a basin and range fault of Miocene or younger age.
7.3.2
folds
A dozer cut exposes a small south-southeast plunging anticline in latites 1,500 feet northwest of
the northern vein segment (prospects on the topographic map). The anticline is about 100 feet
wide and 20 feet high. The axial area of the anticline is strongly altered to magnetite and clay.
7.4
Hydrothermal Alteration
Phyllic and propylitic alteration assemblages flank the range-front chalcedony/quartz veins. In
the vicinity of the prospects in the northern part of the mapped area hydrothermal barite,
clay/sericite, tourmaline, amphibole, hematite/magnetite, and black-matrix breccias form veins in
and alter host latites and are not directly associated with chalcedony/quartz veining.
7.4.1
alteration associated with chalcedony veins
The main range-front chalcedony veining has a footwall phyllic alteration selvage (Fig. 10). The
alteration appears as moderate to strong bleaching (clay/sericite) and goethite after pyrite and
mafic minerals. The goethite occurs as pervasive stain, linings to tiny pits at the former sites of
disseminated pyrite, and concentrations in and along fractures. In places, the bleach zone
contains moderate to strong quartz or chalcedony veinlet sheeting or stockworks. The hanging
wall to the vein is mostly covered with colluvium. Sparse exposures on the top side of the
veining are moderately bleached and silicified, with veinlets of quartz or chalcedony.
Although mass wasting debris covers and obscures much of the immediate footwall to the vein,
the phyllic selvage appears to be widest or thickest where the veining is thickest. The vein zone
is generally thicker in convex bends to the west, and it is at these bends where the phyllic zone
extends up to 500 feet from the vein. Also, a nearly continuous zone of phyllic alteration with
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patchy quartz and chalcedony veinlet sheetings encompasses the northeast-trending chalcedony
vein swarm associated with the southern segment of the main vein zone.
Elongate patches of phyllic alteration (~100 ft wide, 100’s of feet long) underlie some
topographic lows and swales up to 2000 feet east of the main vein (Fig. 10). The altered rock is
softer than unaltered and promotes recessively weathered terrain. Some of these patches are
associated with outlier chalcedony veins and locally contain amethystine quartz.
Propylitic alteration extends beyond the phyllic alteration. It consists of pervasive chlorite and
pervasive and fracture controlled epidote (Fig. 9).
7.4.2
north-area FeOx-amphibole alteration
A hematite/magnetite/goethite/amphibole/clay-dominant alteration assemblage, not associated
with chalcedony veining, has scattered expression extending from the range front near the
northern chalcedony vein segment for 2,000 feet to the northeast (IOCG Area on Fig. 3). The
zone is about 800 feet wide and includes dozer-cut prospects and trenches about 1,500 feet
northeast of the northern chalcedony vein. The alteration includes massive to spongy goethite,
hematite veinlets, magnetite, very coarse sheaves of amphibole to 4 in. long, magnetiteamphibole(?) sheaves, black silica-pyrite-sericite(?)-matrix breccias, black tourmaline, quartztourmaline(?) veinlet stockworks, apatite crystals to 2 in. long, hydrothermal barite, unidentified
hydrothermal blue-green minerals, and strong clay and clay/chlorite. Host rocks for these
alteration assemblages are latite. The alteration is probably older than the chalcedony veining,
but critical cross-cutting relationships have not been observed. The hematite/magnetite-apatite
assemblage also occurs at the Barth and Modarelli iron mines 3 miles north and 7 miles south,
respectively, of the CVN claims (Roberts et al, 1967).
The two dozer trenches are each about 100 feet long and 30 feet high. In the northern cut the
strongest alteration consists of magnetite lenses and layers two to four inches thick and
subsequent strong clay and goethite. The alteration is focused in a 30-foot wide zone in the axial
area of a small anticline that plunges about 24o, S65oE in the latite flows.
8.0
DEPOSIT TYPES (Item 10)
Two different deposit models apply to the styles of alteration and mineralization on the CVN
claims. The range-front veining fits well the model for low-sulfidation, epithermal, bonanza vein
systems. In the northern FeOx-amphibole alteration area, however, the mineralization,
alteration, and geochemistry are similar to those in the iron oxide-copper-gold (IOCG) model.
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8.1
Low-sulfidation Epithermal Vein Model
Characteristic vein mineralogy and textures and wall rock alteration assemblages define the lowsulfidation epithermal vein model (Buchanan, 1981; Hedenquist, 2000, Gemmell, 2007). In this
model, veins consist of chalcedony and or quartz and may be discrete, sheeted, or stockworks.
The quartz may be massive, colloform banded, or crustiform. Calcite and adularia may be
present in variable amounts and calcite may form coarse blades. Chalcedony and quartz may
precipitate on and pseudomorphously replace the calcite blades to result in bladed
chalcedony/quartz. Boiling of the hydrothermal fluid facilitates the formation of the bladed
calcite-quartz morphology that associates with gold deposition.
In this model, alteration mineral assemblages in the wall rock near the vein are zoned outward
from vein-proximal quartz-adularia-illite through an intermediate zone of illite-smectite clays to
distal albite-epidote-chlorite. Sulfides are generally low in abundance and include lowsulfidation-state pyrrhotite and arsenopyrite. Precious metals precipitate in the boiling zone;
base metals precipitate below it.
The chalcedony/quartz veins on the CVN property fit the low-sulfidation epithermal vein model.
Parts of the veins display banding or laminations and contain bladed calcite and
chalcedony/quartz. Sericite/illite and pyrite alter (bleach) the footwall adjacent to the vein.
Beyond the bleached zones the rock is propylitically-altered to chlorite and epidote.
8.2
Iron Oxide-Copper-Gold (IOCG) Model
Iron oxide-copper-gold deposits are a class of deposit associated with intrusive-volcanic
complexes. They characteristically contain variable amounts of magnetite and hematite with
accessory, but locally economically important, copper, gold, uranium, and rare earth elements
(Barton and Johnson, 1996). They occur globally in Proterozoic and Phanerozoic rocks (Groves
et al., 2005; Johnson, 2000) and in Mesozoic igneous complexes in Nevada, Baja, and the Andes
(Barton and Johnson, 1996; Johnson, 2000; Marschik and Fontbote, 2001; Cruise et al., 2007).
Specifics of IOCG morphology, mineralogy, zoning, and paragenesis are variable (Partington
and Williams, 2000). Deposits form as massive replacements, disseminations, breccias, and
veins. Paragenetic relationships are variable with hematite replacing or replaced by magnetite.
Alteration associated with IOCG deposits is also variable but generally includes relatively early
or deep pervasive sodic mineralogy (albite) and later or shallower potassic and hydrolitc
alteration (biotite, potassium feldspar, actinolite, chlorite, sericite, kaolinite). Some deposits
contain late quartz-tourmaline breccias (Cruise et al., 2007). IOCG systems are generally
sulfide-poor, but copper and gold tend to be associated with pyrite in the hydrolytic and potassic
assemblages. Copper is generally <1 percent and gold </=1 ppm. Rare earth elements generally
correlate with high P2O5 and apatite or monazite. The mineralizing fluids may be magmatic
(Chiaradia et al., 2006) and/or derived from evaporite (Johnson, 2000; Barton et al., 2007)
sources. Models for IOCG deposits are still being developed and refined, but world-class
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orebodies, like Kiruna in Sweden and Olympic Dam in Australia are assigned to this model
(Johnson, 2000; Groves et al., 2005).
The north-area alteration includes massive magnetite and hematite, very coarse amphibole
alteration, apatite, quartz-tourmaline, late clay alteration, and elevated copper, gold, P2O5, and
rare earth element concentrations. These characteristics are symptomatic of IOCG deposits.
9.0
MINERALIZATION (Item 11)
The CVN claim block hosts two styles of mineralization, epithermal chalcedony/quartz veins and
iron oxide-copper-gold. Extensive exposures of chalcedony veining along the range front
prompted the staking of the claims. The veining forms discontinuous croppings along the range
front for 12,500 feet. Individual croppings are up to 700 feet long and 100 feet wide. The
general trend of the main veining is N15oW with westerly dips of 45o to 80o. The veining may
occupy a range-front fault structure zone with similar attitude. Drill holes intersected zones of
chalcedony veins up to 150 feet thick 600 to 800 feet on down-dip projection from major vein
croppings. Vein textures and reconnaissance scoop samples of colluvial soil and rock first
identified potential for gold mineralization in the vein system, and this was confirmed by rock
chip samples.
9.1
Scoop Sample Geochemistry
Scoop sampling is a geochemical reconnaissance technique utilized to identify the presence of
mineralization. A mixed sample of colluvial soil and rock chips are scooped from the surface
with a shovel every few feet along continuous traverse lines, generally along contour, and
composited in approximately 100-foot (30 meter) length sample intervals. The method is
particularly effective where outcrops are sparse and residual, or near-residual and, or transported
soil and float are present. At CVN, sample lines were generally low on hill sides and above the
pediment. Location coordinates for the ends of each sample were recorded on a hand-held GPS
unit. Because of down-slope creep and mass wasting, each scoop sample contains mixed
material eroding from above the sample site. Samples were processed as rock chip samples for
geochemical analyses. High geochemical values in elements of interest may warrant follow-up
field work to identify the source of the anomaly.
Gold Run Inc. in 2007 collected 226 scoop samples on the CVN claims along approximately
13,000 feet (about 4,000 meters) of the southwestern range front of Iron Blossom Mountain.
Samples were collected down slope from all major range-front chalcedony/quartz vein zone
croppings. Two additional sample traverses were made in the vicinity of the north-area IOCG
alteration. All samples were submitted to ALS Chemex laboratory for sample preparation and
geochemical analyses for 35 elements. Gold was analyzed by their technique Au-AA23 by
atomic absorption spectrometry at a detection limit of 0.005 ppm Au. An additional 34 elements
were analyzed by their inductively coupled plasma technique ME-ICP41.
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Scoop sample geochemical data are summarized in Table I and Figures 11-14. For gold (Fig.
11), 48 of the 226 samples are above the detection limit of 0.005 ppm Au and range up to 0.394
ppm Au. All but four scoop samples contain arsenic above the detection limit of 2 ppm As and
range up to 76 ppm As (Fig. 12). Scoop samples are anomalous in gold (>0.005 ppm Au) in the
vicinity of all three major range-front veining croppings. Highest gold and arsenic values in
scoop samples associated with chalcedony/quartz veining are 0.026 ppm Au and 30 ppm As.
Mercury has a maximum value of 0.48 ppm Hg at the northern-most veining segment (Fig. 13).
The north area IOCG alteration contains multiple scoop samples anomalous in gold, arsenic, and
copper (Fig.13) up to their maximum values of 0.394 ppm Au, 76 ppm As, and 85 ppm Cu. This
area also generated the maximum rock chip values for Au (0.554 ppm), As (1985 ppm), and Cu
(298 ppm).
Table I. Scoop Sample Geochemical Values
9.2
Rock Chip Trace-Element Geochemistry
Jones (2009) collected 152 character rock chip samples from chalcedony/quartz veins, their host
rocks, and from the north area alteration. Samples consist of both float and outcrop. ALS
Chemex analyzed all the samples using their procedures AU-ICP21 for gold (0.001 ppm
detection limit) and ME-ICP41 for 34 additional elements.
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Table II summarizes the trace element values in rock chips by type of major alteration
classification for each of the samples. The alteration categories selected for summary and the
number of samples in each is as follows:
Chalcedony/Qtz Veins (94): veins, sheetings, stockworks, pervasive silica
Bleach/Sericite (16):
sericite (illite) alteration, white rock
FeOx (24):
magnetite, hematite, moderate/strong goethite
Table II. Rock Chip Geochemical Values
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The trace elements are grouped as pathfinder or base metal elements. Pathfinder elements
commonly associate with Au mineralization in an epithermal environment and consist of Au, Ag,
As, Sb, Hg, and Tl. All the CVN rock chip samples contain Tl below the 10 ppm detection limit
for the analytical procedure. Base metals are Cu, Mo, Pb, and Zn. Additional elements are also
presented for the FeOx group. The table presents for each alteration classification the element’s
detection limit, threshold, number of samples above the threshold value, and its highest, second
highest, and median value.
9.2.1
Trace-element abundance patterns in chalcedony veins
Pathfinder elements: Pathfinder elements in the chalcedony/quartz vein samples display
abundance patterns that appear to zone inward toward the central to northern part of the rangefront veining. Inspection of Figures 15 through 18 viewed in the sequence SbAs HgAu,
and relative to the main range-front veining, shows that relatively high values migrate from
peripheral north and south (Sb, Fig. 18) to the northern part of the central vein segment (Au, Fig.
15) where the highest vein gold value is 0.241 ppm Au. The central to northern part of the
range-front veining is also the general area in which the Ca content (calcite) of the vein is
relatively high, segments of the vein contain abundant calcite, and at least some of the calcite is
paragenetically late (northern vein segment).
The apparent pathfinder element zoning pattern that focuses on the relatively high calcite portion
of the range-front veining suggests that the central to northern part of the veining may be a local
center for more intense fluid boiling, or resurgent boiling, and potential mineralization at depth
(White and Hedenquist, 1999; Cooke et al, 2000; Hedenquist et al, 2000; Corbett, 2002).
Base metal elements: Base metal elements also display an apparent zoning inward toward the
central to northern part of the range-front vein and supports the zoning of the pathfinder
elements. Figures 19 through 22 viewed in the sequence Pb Zn Cu Mo, and relative to
the range-front vein, display relatively high values that gradually shift from the south range-front
vein segment and its footwall veins and sheeted veins (Pb, Fig. 22), to the middle and north part
of the veining with only a few highs in the south (Mo, Fig 19).
9.2.2
Trace-element anomalies associated with high FeOx-amphibole
The 24 samples included in the FeOx group were selected based only on whether they contain
magnetite, hematite, or relatively strong (moderate to intense) goethite. They variably contain
chalcedony/quartz veinlets, amphibole or tourmaline, and black micro-breccia. Their Fe content
ranges from 0.57 to >50 percent and nine of the 10 samples that contain greater than 10 percent
Fe are from the north-area alteration.
Pathfinder elements: The group of magnetite/hematite/goethite samples contains the highest
Au (0.554 ppm or 0.016 opt), As (1,985 ppm), and Sb (14 ppm) in the complete set of 152 rock
chip samples. These highest values all come from a float sample of gossanous breccia with
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sparse, very fine grained quartz stringers around the fragments. The second highest gold value
within the FeOx group, 0.163 ppm Au, is from a float sample that contains hematite/magnetite
veinlets.
Base metals: The FeOx group of samples also contains the highest Cu (298 ppm), Mo (65
ppm), and Zn (210 ppm) of all 152 rock chip samples. The highest Mo and Zn are in the same
sample as the highest Au. The highest Cu sample contains dense goethite veinlets.
Other elements: The FeOx sample group contains the highest values in all rock chip samples of
the following elements that associate with IOCG deposits:
Bi
488 ppm
Co
34 ppm
Cr
166 ppm
Ni
63 ppm
P
8,760 ppm
S
2.95 percent
V
508 ppm
W
70 ppm
Ce
251 ppm
La
190 ppm
Only 25 rock chip samples were analyzed for Ce and 11 of these were classed FeOx.
10.0 EXPLORATION (Item 12)
At the time of this report, all exploration activity on the CVN claims was conducted by or on
behalf of claim owners before JKR Gold Resources acquired the property.
Bullion River Gold Corporation in 2004 drilled five reverse circulation holes totaling 4,920 feet
(reported herein). All holes were collared on the pediment west of the range-front croppings.
The holes demonstrate down-dip continuation of the veining, persistence of vein textures that
indicate boiling, extensive footwall phyllic (sericite/illite-pyrite) alteration, association of gold
(0.02 to 0.05 ppm Au) with the veining, existence of additional veins not recognized at the
surface, and occurrence of the highest gold grades (0.33 to 0.39 ppm Au) up to 350 feet below
the main vein.
Dwight Juras under contract to Gold Run Inc. (Juras, 2007) made a brief field study of the rangefront veining to characterize its structural setting. Juras noted that the veining is dominantly a
multi-episode breccia with chalcedony and lithic fragments in a chalcedony matrix.
Furthermore, the fissure filling, replacement, and hydrothermal brecciation do not explicitly
define the original structures, which the explosive hydrothermal events have significantly
expanded in width.
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Gold Run Inc. in 2007 reconnaissance sampled the colluvium (226 scoop samples each about
100 feet long and reported herein) along 13,000 feet of range front that includes the outcrops of
the range-front veining; this method is described in section 9.1 of this report. The purpose of the
sampling was to identify anomalous areas along the range front. Interpretation of the
geochemical analyses of these samples indicates that gold, silver, and arsenic in scoop samples
have a likely source in the range-front vein zone and that there is another anomaly source in the
vicinity of the IOCG style alteration.
Mike Jones under contract to C3 Resources Inc. in 2008 mapped and rock chip sampled the
range front along the zone of principal chalcedony/quartz veining (Jones, 2009). His work
detailed exposures of the main veining, mapped footwall secondary veins, documented extensive
footwall hydrothermal alteration and zoning, sampled (152 samples) the main and subsidiary
veining and footwall alteration, and characterized the IOCG style alteration and geochemistry.
His work concluded that the range-front veining is thickest where it is convex westward; phyllic
alteration (sericite/illite plus pyrite) and zones of chalcenony/quartz veins, veinlets, and sheetings
extend at least 500 to 800 feet into the footwall of the range-front vein zone; and abundance
patterns for pathfinder and base metal elements appear to focus on the northern part of the rangefront veining, where Bullion River drilled only one hole.
Gold and associated elements are not considered to be strongly anomalous in the surface sample
results, but they are considered to be weakly to moderately anomalous by surface sample result
standards, and the anomalies are repeated in numerous samples and the anomalous samples are
somewhat widespread over the property. It is not uncommon, especially in the high levels of
bonanza vein systems to obtain only very weakly anomalous gold in the 10 to 25 ppb range; this
reflects the very efficient gold depositional mechanism of boiling in these types of systems.
Figure 26 is a presentation of the bonanza vein model as originally defined by Larry Buchanan in
1981 and later modified by others. The key to successful bonanza vein exploration is to locate
the zones and levels in the veins where this boiling and prospective deposition of high-grade
gold mineralization has occurred.
11.0 DRILLING (Item 13)
11.1
Bullion River Gold Exploration
Bullion River Gold Corporation contracted Lang Exploratory to drill five reverse circulation
holes (TC-1 through -5) that targeted the range-front veining. The one vertical and four angle
holes ranged in depth from 860 to 1,020 feet and were drilled during April, May, and June of
2004. The drill used was a Driltech D40K with 40,000 lbs pullback and air capabilities of 750
cubic feet per minute at 350 pounds per square inch.
The drill holes were collared on the pediment west of the southern and middle segments of the
range-front vein zone to test for the down-dip continuation of the surface exposed veins (see
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Figures 11 – 22 for drill hole locations). The four angle holes were all directed easterly at -60o.
Hole TC-1 tested the southern vein segment. Holes TC-2, -3, and -5 (vertical) were collard
4,200 to 5,100 feet north-northwest of TC-1 and tested the central portion of the middle vein
segment. Hole TC-4 was collard 6,400 feet north of TC-1 and directed at the north end of the
middle vein segment. Table III details the collar location information for the drill holes.
11.1.1 Summary of Bullion River Drill Holes
Table IV summarizes for each hole its quartz vein intercepts, higher gold intercepts, and
significant intercepts for selected elements. Data for cross-sections (Figs. 23 - 25) are from
Bullion River Gold Corporation drill logs, additional logging by Jones, and geochemical
analyses of the drill cuttings by ALS Chemex for Bullion River Gold in 2004. Gold was
analyzed on five-foot intervals. All other element analyses were on 20-foot composites. All
holes penetrate the pediment alluvium to intersect the Jurassic volcanic/plutonic complex. Most
of the drill intercepts classed as chalcedony/quartz veins on Table IV and in Figures 23 – 25 have
geologic logs that describe the intensity of veining as strong. Vein intensities logged as weak or
moderate generally flank the intercepts logged as strong and also occur as independent zones in
the holes.
Angle hole TC-1 (Fig. 23) was collared about 500 feet west of the southern segment of the
range-front vein zone. Between 250 and 370 feet, it intersected five chalcedony veins that
aggregate 40 feet. Some veins contain glassy coxcomb quartz. Between 240 and 310 feet are
three gold intercepts that total 30 feet and average between 0.020 and 0.038 ppm Au. The gold
intercepts associate with the upper vein intercepts. The gold and vein intercepts are 450 feet
down 35o to 50o dip projection from the vein outcrop. Maximum gold in rock chips from the
vein outcrop is 0.013 ppm Au. Above the veins, the latite is generally strongly oxidized and
moderately clay altered. Mercury is anomalous from 60 to 380 feet, averaging 0.22 ppm Hg.
Below the vein to the end of the hole at 860 feet, the rock is generally light gray, moderately
hard, quartz-sericite/illite altered, and with 1 to 4 percent disseminated fine grained pyrite.
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Tungsten is anomalously high from 620 to 700 feet where it averages 138 ppm W (maximum
260 ppm W).
Angle hole TC-2 (Fig. 24) was collared about 475 feet west of the middle segment of the main
vein. It intersects robust veins about 500 feet down dip from a 100-foot wide zone of bold vein
croppings. In the 70-foot interval between 325 and 395 feet, the hole intersects three veins
totaling 50 feet in thickness. Also, the 70-foot interval between 435 and 505 feet is more than 75
percent chalcedony/quartz plus calcite vein. A deeper chalcedony-calcite vein occurs from 785
to 790 feet. The hole intersects three gold zones with grades increasing with depth: 335 to 345
feet averages 0.021 ppm Au, 525 to 530 is 0.055 ppm Au, and 855 to 860 is 0.395 ppm Au.
Anomalous mercury averages 0.44 ppm Hg in the 140 feet just above the veins. The bottom of
the thick vein is unusually rich in lead (112 ppm Pb). The immediate footwall to the thick vein is
also high in copper (80 feet of 193 ppm Cu) and arsenic (100 feet of 86 ppm As). Tungsten is
high in the region of the upper veins (340 to 360 feet at 100 ppm W) and at the bottom of the
hole (980 to 1020 feet at 390 ppm W).
Angle hole TC-3 (Fig. 24) angles under TC-2 from a collar 450 feet west of TC-2 and about 950
feet west of the range-front veining croppings. Like TC-2, it intersects robust chalcedony/quartz
plus calcite veining. Between 545 and 635 feet, four veins aggregate 30 feet in thickness. Also,
quartz-calcite vein material is continuous for 60 feet from 640 to 700 feet down the hole. The
lowest intersected vein is 865 to 870 feet. Three intervals of gold and one of silver accompany
the quartz-calcite veins between 500 and 650 feet. The gold zones each average 0.02 ppm Au
and are 5 to 90 feet thick. The silver interval of 1.2 ppm Ag is 40 feet thick. A deeper (745 to
755 feet) and higher grade 10-foot intercept of 0.186 ppm Au (max. 0.334 ppm Au) is within a
30-foot interval of sparse tourmaline and weak quartz-calcite veinlets. Mercury is anomalous
(average 1.27 ppm Hg, maximum 2.46 ppm Hg) above the quartz-calcite veins and their
associated gold and silver. Tungsten is high around the highest gold intercept (720 to 760 feet,
185 ppm W) and around the lowest quartz-calcite vein (860 to 940 feet, 88 ppm W).
Angle hole TC-4 (Fig. 25) is collared about 700 feet west of the north end of the middle segment
of the range-front veining and intersects a 30-foot thick zone of strong quartz-calcite veins
between 405 and 435 feet. This intercept is about 600 feet down a 45o dip projection from the
vein’s outcrop. Maximum gold is 5 feet (245 to 250 feet) of 0.01 ppm Au. Mercury is
anomalous at the hanging wall of the vein with 60 feet (350 to 410 feet) of 0.39 ppm Hg. From
600 to 995 feet the rock is strongly altered to pervasive quartz-sericite/illite with about 2 percent
disseminated and fracture controlled fine-grained pyrite.
Vertical hole TC-5 (Fig. 24) is collared about 1,400 feet west of the range-front vein croppings
and about 620 feet north of the east-west line of TC-2—TC-3. The hole intersects a quartzcalcite vein from 940 to 950 feet. The thickest gold intercept is 20 feet (310 to 330 feet) of 0.014
ppm Au within a 160-foot zone of 2.92 ppm Hg. The highest grade gold intercept is 5 feet (635
to 640 feet) of 0.031 ppm Au within a 20-foot zone of 6 ppm Se. The hole is strongly oxidized
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to 280 feet, strongly to moderately chloritized to 715 feet, and weakly chloritized and sericitized
to the bottom of the hole at 1020 feet.
11.1.2 Bullion River drilling Cross Sections
The spatial relationships among the drill holes, gold intercepts, and range-front
chalcedony/quartz vein zone are displayed on three east—west cross sections (Figs. 23 - 25).
From south to north Figure 23 shows hole TC-1, Figure 24 holes TC-2, -3, and -5, and Figure 25
hole TC-4. TC-5 is projected 620 feet south to the section line.
Interpretation of the cross sections shows that projected westerly dips of about 45o to 60o from
the range-front vein zone outcrops coincide with significant chalcedony/quartz veins intersected
by the -60o east-angled drill holes. These projected vein inclinations generally coincide with the
dips of veining measured on the outcrops. As measured down-dip along the veining, drill holes
intersect veining from 450 feet (TC-1) to 850 feet (TC-3) from surface croppings. The angle of
intersection between the easterly -60o drill holes and the westerly -45o to -60o vein projection
ranges from 75o to 60o, respectively. Drill hole intersect distances with the veining would be
correspondingly inflated by only about 4 and 15 percent, respectively. The angle drill holes,
therefore, are considered to give good measure of the true thicknesses of the range-front veining
and vein-parallel gold zones. Having stated this, however, the possibility exists that these are not
individual veins, but several disconnected veins. Vein contacts and attitudes can not be obtained
with RC drilling therefore true thicknesses remain enigmatic especially if defined by a very few
holes/intercepts. Core drilling provides a better means of defining vein attitudes, connections,
and structural offsets. Further drilling should incorporate at least some core holes.
11.1.3 Range-Front Vein, Alteration, and Mineralization in Bullion River drill holes
Inspection of the cross sections and Table IV allow the following conclusions. The range-front
vein zone of chalcedony/quartz-calcite veins ranges in thickness from 50 feet in TC-4 to 150 feet
in TC-3 and 180 feet in TC-2. The top of the zone consists of four to five veins 5 to 30 feet thick
(TC-1, -2, -3, -4) overlying, but generally parallel to, a more massive vein 60 to 70 feet thick
(TC-2, -3). Additionally, chalcedony/quartz veins occur 160 feet (TC-3) and 280 feet (TC-2)
below the main vein zone. These footwall veins may be part of the set of northeast-striking veins
mapped east of the range-front vein zone (Fig. 10).
Figure 24 shows the zone of robust veining to extend about 800 feet down dip from the outcrop
and through TC-2 to TC-3. The projection of this zone into TC-5 another 800 feet further west,
however, is represented by a vein only 10 feet thick. This vein zone may be discontinuous or
faulted down beneath TC-5.
Alteration down the drill holes displays a general pattern in the following sequence: strong
oxidation with clay (all holes), moderate to strong chlorite (TC-1, -3, -4, -5), main
chalcedony/quartz-calcite vein zone with pervasive sericite/illite and bleaching (TC-1, -2, -3, -4),
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moderate to strong pervasive quartz-sericite/illite/bleaching with about 1 to 3 percent
disseminated and fracture controlled pyrite (TC-1, -2, -3, -4). The footwall phyllic (quartzsericite/illite) zone extends at least 560 feet below the main chalcedony/quartz vein zone (TC-4)
and is consistent with mapped phyllic alteration and quartz veinlets in the footwall of the vein.
TC-5 is different in that it does not contain a relatively thick vein zone nor the moderate to strong
quartz-sericite/illite alteration.
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Gold zones tend to associate with the upper, thinner chalcedony/quartz veins but are not
restricted to the veins. The two highest gold intercepts are 0.395 ppm Au (TC-2) and 0.334 ppm
Au (TC-3) and are 350 and 45 feet below the main vein zone, respectively. Neither of these
highest gold intercepts is logged as strong quartz veining.
Grade x thickness (GT) values give estimates of total gold intersected by the drill holes. GT
values expressed as (feet) x (ppm) are summed for the gold intercepts for each hole on Table IV
and shown on the cross sections. Values range from 0.2 ft x ppm Au in TC-4 to 4.6 ft x ppm Au
in TC-3. In the 350 feet from TC-2 to TC-3, GT values increase down dip from 2.5 to 4.6 ft x
ppm.
Mercury is a halo element high in and above the upper part of the vein zone. The anomaly
becomes two zones and increases in intensity westward (TC-5). Selenium up to 6 ppm coincides
with part of the main vein zone (TC-3). Tungsten forms abundance highs in and up to 250 feet
below portions of the main vein zone (TC-1, -2, -3).
11.2
JKR Gold Resources Drilling
JKR Gold Resources (USA) Inc conducted a core drilling program late December, 2009 through
January, 2010. This program was designed to provide a preliminary test of the range-front
structure, foot-wall alteration and possible veins within the footwall volcanic rocks.
A Notice of Intent (NOI) to drill 5 sites, see figure 27, was submitted to The United States
Bureau of Land Management (BLM) on November 13, 2009. The NOI was approved by BLM
on November 24, 2009. A reclamation bond for $13,001 was provided to the State of Nevada.
The State of Nevada provided warrantee to BLM for the bond from their bond pool December 9,
2009.
West-Core Drilling Company was contracted to conduct this early stage core drilling program.
All 5 sites were constructed with the view of drilling holes from 2 or 3 of the sites. Hole
CVN09-1, was drilled at -60 deg. due east from site # CVN09-2, located on figure 27 of this
report commenced December 21, 2009. The upper portions of all the holes were drilled with a
tricone bit to solid rock with no sample recovery and analyses. Very difficult drilling conditions
were encountered in drill hole CVN09-1 from 420 feet to about 490 feet. The rock was very
broken and altered and the hole became artesian. The hole-size was reduced from HQ to NQ in
order to complete the hole. Moderately silicified, weakly propylitized and sulfidized dacite was
intersected from 472 to 1316 feet. The rock was only very weakly altered from 1316 to the end
of the hole at 1345 feet. No significant veins were encountered in the hole. No significant gold
was encountered in the assays from this hole.
Hole # CVN10-1 and # CVN10-3 were drilled due east at -45 deg. from site # CVN09-5 on
figure 27 of this report. CVN10-1 was drilled to 561 feet and had to be abandoned because of
hole caving. CVN10-3 was a re-drill attempt at the same site rotating the drill 5 deg. to the
south. This hole was drilled to 558 feet and was lost because of very difficult hole conditions.
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No significant gold values or other economic elements were obtained from any samples assayed
in these two holes.
12.0 SAMPLING METHOD AND APPROACH (Item 14)
The authors did not witness the drilling of the TC reverse circulation holes but believe that Lang
Exploratory used industry- standard reverse circulation drilling sample procedures. In this
process, the hole is advanced using a pneumatic hammer bit. Rock cuttings return through the
drill steel to a rotary splitter that continuously delivers a portion of the returns to a sample bag.
Sample is continuously collected throughout 5-foot advances of the bit and a small representative
sample is saved for geologic logging. Drill rods are 20 feet long. After addition of a new drill
rod, and before resumption of drilling, the hole is blown clean of any rock materials from the
wall of the hole that may have fallen to the bottom of the hole during the rod change. The drill
sample weights reported by ALS Chemex are about 5 kg, which represents about 7 percent of the
total mass of rock drilled in the 5-foot interval.
The drilling and sampling procedure for reverse circulation drilling necessarily composites the 5foot sample interval. Table IV itemizes 18 separate gold zones that range in thickness from 5 to
90 feet and 11 of which are 5 feet thick, the minimum sample width. It is highly likely that in
each of these 5-foot samples the source of gold is from a thinner and consequently higher grade
interval.
Jones collected rock chip samples at random on selected exposures of outcrop or of selected
float. Each sample could be of an outcrop spot or single chunk of float or represent a composite
of up to 70 linear feet of outcrop or many chunks of float.
Juras, Jones and Mathewson revisited the CVN in October 2009 to collect some check “scoop”
samples. The area selected for sampling was on the south of edge of the IOCG mineralization
and between two scoop sample traverses that contained gold values. Six check scoop samples
covered a traverse of about 700 feet with each composite scoop sample covering about 100 feet.
None of the samples returned more than 8 ppb gold, and consequently this attempt to check
previous sampling failed, not necessarily because the previous sampling and analysis were
erroneous or faulty, but because the traverse just was out of the gold mineralized zones. Jones’
rock chip sampling and analysis of the vein croppings confirmed/validated the gold values
obtained by Gold Run scoop sampling along and below the vein croppings.
The above Section 7.1 Scoop Sample Geochemistry describes the procedures for the scoop
sampling technique.
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13.0 SAMPLE PREPARATION, ANALYSES, AND SECURITY (Item 15)
ALS Chemex Labs, Ltd. performed the sample preparation and analyses of all the drill, rock
chip, and scoop samples. ALS Chemex has facilities in 26 countries and provides experienced,
reliable service to the minerals industry. It is ISO 9001:2000 certified and ISO 17025:2005
accredited.
ALS Chemex’s Elko, Nevada, sample preparation facility processed all drill, scoop, and drill
samples prior to analyses. Drill samples were picked up at the drill site by laboratory employees
for holes TC-1, -2, -3, and -5, or delivered to the Elko facility for TC-4. All samples were oven
dried, crushed to minus 2 mm, riffle split, and a portion pulverized to minus 200 screen mesh (75 μm). The sample pulps were sent to ALS Chemex analytical facilities in Vancouver, B.C.,
(TC-1, -4) or Reno, Nevada, (TC-2, -3, -5) for gold analyses on a 30 gram charge by fire assay
with an atomic absorption spectrophotometry finish. Pulps were composited in 20-foot intervals
and analyzed in Vancouver for multi-elements by inductively coupled plasma techniques.
Michael Jones delivered the rock chip samples and Gold Run employees delivered the scoop
samples to the Elko facility. Both types of sample underwent standard rock chip sample
preparation procedures in Elko and multi-element analyses in Vancouver.
13.1
Bullion River Assay Quality Control
Bullion River Gold’s quality control procedure established submitting three standards and two
check pulps with each hole. This process was generally followed. The standards were acquired
from the Nevada Bureau of Mines. Paul Lechler of NBM said one of the standards had “severe
heterogeneity” (Lechler, pers. comm., 08/31/09) and should not have been used. The other
standard had a NBM value of 0.411 ppm Au. This standard was included with samples from all
the holes. ALS Chemex analysed it nine times that resulted in a mean value of 0.449 ppm Au
and variance of 0.003 ppm Au. The check samples all had identical repeat assays.
The authors believe that although the gold control standard averaged 0.038 ppm high, its
variance was below the gold detection limit of 0.005 ppm Au, the check samples exactly
reproduced the original values and, consequently, the sample preparation and analytical
procedures were adequate and consistent.
13.2
JKR Gold Resources Assay Quality Control
Samples from the December, 2009 through January, 2010 were all of core. Approximately 10
foot lengths of core were placed in boxes and kept on site with the drillers always present. The
core boxes were regularly transported to a warehouse and core logging facility in Elko Nevada
where the core was washed, logged, and split with a saw. The splitting, bagging, and transport of
the slit core to ALS Chemex for assaying core was conducted by a contractor provided by Carlin
Trend Mining Services of Elko, Nevada. Samples were prepared for assay by ALS Chemex in
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their preparation lab in Elko Nevada. JKR provided unknown standards to the lab to be run as
check assays on the ALS Chemex results. Approximately 5% of the total samples were these
standards. Assay results of the standards imbedded in the submitted samples all returned
numbers that were consistent with the known results. No laboratory problems were detected.
14.0 DATA VERIFICATION (Item 16)
The Authors of this paper reviewed all the original signed, assay certificates provided by ALS
Chemex, the contractor that analyzed all the rock, soil, core samples and standards provided. We
verified all the assay results to be in proper order, and unaltered.
15
ADJACENT PROPERTIES (Item 17)
15.1
Historic Mines Proximal to the CVN Claims
The closest historic mines are the Zenoli and Onandaga in the Safford District in Safford Canyon
(Roberts et al., 1967) about 2 miles north of the CVN claim block. The Onandaga mine was
located in 1881 on the north side of Safford Canyon. About 2,000 feet of workings developed
pyritic ores of silver, gold, copper, and lead. The Zenoli mine on the south side of Safford
Canyon was located in 1883. It consists of about 3,000 feet of workings that developed baritecarbonate veins from which 1,439 tons of ore containing sphalerite, galena, and chalcopyrite
were shipped. Most of the value was in silver. Both mines are in the Jurassic volcanic suite that
underlies the CVN claims. Total recorded production from the district is about 37,000 ounces
silver.
The Barth iron mine is at the confluence of Safford Canyon with the Humboldt River about 3
miles north of the CVN claims. The ore was massive apatite-bearing hematite with lesser
magnetite that replaced Jurassic andesitic volcanic rocks. The open pit produced about
1,280,000 tons of ore grading about 63 percent iron (Roberts et al., 1967).
The Modarelli iron mine was discovered in 1903 about 7 miles south of the CVN claim block
near the crest of the Cortez Range. The ore consists of apatite-bearing hematite replacement of
magnetite. The ore minerals replace Jurassic rhyolite and rhyodacite. Total production between
1952 and 1961 was 443,400 tons of close to 58 percent iron (Roberts et al., 1967).
The Mule Canyon mine (John et al., 2003) is 24 miles west-northwest of the CVN claims. Its
pre-mining reserves were 8.2 Mt of 3.81 g/tonne Au. The low-sulfidation epithermal gold-silver
ores formed as disseminations and in quartz/chalcedony veinlet stockworks, veins, and silicacemented breccias in Miocene basalts. North-northwest to north trending faults along the west
side of the Northern Nevada Rift control this 15.6 Ma (Miocene) mineralization.
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The authors of this paper and specifically Dwight Juras have been unable to verify the preceding
information of item 17, and this information is therefore, not necessarily indicative of the
mineralization on the property that is the subject of this technical report.
16.0 MINERAL PROCESSING AND METALLURGICAL TESTING
(Item 18)
There has been no mineral processing or metallurgical testing done on any materials from the
CVN project.
17.0 MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES
(Item 19)
There are no resource or reserve estimates for the CVN property.
18.0 OTHER RELEVANT DATA AND INFORMATION (Item 20)
To the authors’ knowledge, there are no geophysical surveys or other information pertinent and
specific to the CVN property.
19.0 INTERPRETATIONS AND CONCLUSIONS (Item 21)
The CVN claims cover parts of two separate mineral systems. A low-sulfidation epithermal
gold-chalcedony/quartz breccia-vein complex extends along the western range front of the
Cortez Range at Iron Blossom Mountain and is of principal exploration interest. The other
system has similarities to iron oxide-copper-gold (IOCG) deposits and is of secondary interest.
19.1
Exploration Targets
The principal exploration target is a set of chalcedonic quartz-calcite veins that crop out
intermittently for 12,500 feet along the western range front of the Cortez Range and for 9,400
feet on the CVN claim block (Fig. 3), as well as adjacent hypothesized and valley-fill concealed,
subparallel, faulting and veining in Crescent Valley to the west. The range-front main veins
trend generally north-northwest. Subsidiary intersecting veins trend northeast. A secondary
target has similarities to iron oxide-copper-gold (IOCG) deposits.
19.1.1 CVN epithermal veining
The chalcedony/quartz-calcite breccia-vein system crops out discontinuously for 12,500 feet in a
north-northwest trend along the range front and for at least 9,400 feet on the CVN claims. The
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range-front vein system is a zone of veins, veinlets, and multi-event silica-healed breccias. As
seen in outcrop, vein-breccia consists of fragments of wall rock as well as earlier formed
chalcedony in a chalcedony/quartz matrix. Up to 50 percent of the vein zone may consist of
breccia fragments. Croppings and drill intercepts show the main vein zone to dip westerly at 45o
to 60o, to be 30 to 180 feet thick, and to include relatively massive chalcedony veins (chalcedony
fragments in chalcedony matrix) up to 60 to 70 feet thick. Drill holes intersect the vein zone up
to 800 feet down dip from its outcrop and 550 feet below the surface. The vein zone appears to
be thickest (outcrops the widest) where outcrops of the veining are concave west.
Portions of the vein zone in outcrop and drill holes display coarsely bladed calcite and bladed
chalcedony/quartz pseudomorph replacements of the calcite. These textures are ascribed to
boiling of the hydrothermal fluid.
Bullion River Gold Corp. drill tested the range-front vein zone with one vertical and four eastdirected -60o angle reverse circulation holes. The holes were collared west of the vein zone and
angled east to evaluate down-dip continuity of the veining and possible increase in gold grade
with depth. The five holes were positioned essentially along three east-west sections across the
vein in a distance of 6,400 feet along the vein. The four angle holes intersected the main vein
zone. The vein zone is 100 to 180 feet thick in the 800 feet from its outcrop to hole TC-3.
Vertical hole TC-5 cut only one 10-foot thick vein near the vein zone’s down dip projection
another 800 feet westerly from TC-3. The main vein zone must terminate between TC-3 and
TC-5, pinch down to 10 feet in TC-5, or persist under TC-5 with increased dip or by downfaulting.
The hanging wall to footwall alteration pattern generalized from mapped and logged alteration
sequences progresses from near surface strong oxide with clay (likely supergene) to moderate to
strong chlorite above the vein, through the chalcedony/quartz breccia-vein zone with pervasive
silica, sericite/illite, and pyrite, to proximal footwall phyllic (quartz-sericite/illite-pyrite)
alteration and distal propylitic (chlorite and epidote) alteration.
Gold and silver values in outcrop and in drill samples are weakly to moderately anomalous.
Rock chip samples from chalcedony/quartz veins range up to 0.241 ppm Au and 1.5 ppm Ag.
Drill samples within 20 feet of the zone of chalcedony/quartz veins range up to 0.055 ppm Au
and 1.3 ppm Ag. Drill samples from footwall phyllic alteration up to 350 feet below the vein
zone range up to 0.395 ppm Au. The character of the bonanza vein model and the methods of
exploring this model requires detailed and dense sampling both at the surface and in drilling.
The process is, however, best conducted iteratively. Therefore exploration is best conducted by
providing continued focus and more sampling in areas considered to be encouraging.
The CVN chalcedony/quartz breccia-vein system fits into the low-sulfidation epithermal vein
model (Fig.26) proposed by Buchanan (1981) and modified by Wake (2006) to incorporate
quartz textures in epithermal veins (Dong et al., 1995). The main CVN veining as exposed in
outcrop and up to 800 feet down dip in drill holes would be placed relatively high in the model
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(Fig. 26). The general lack of adularia, crustiform textures, and sulfide bands within the veining
combined with the abundance of massive chalcedony, bladed textures of calcite,
chalcedony/quartz replacements of calcite, and sparse amethyst position the explored portions of
the main veining and its footwall veins above the expected level of highest gold values.
19.1.2 CVN IOCG mineralization
Alteration with affinities to iron oxide-copper-gold (IOCG) mineralization occurs near the
northern segment of the CVN vein. The diverse mineralogy includes hematite, magnetite, strong
goethitic replacement of hematite and magnetite, very coarse amphibole and magnetiteamphibole intergrowths, quartz-tourmaline, coarse apatite, hydrothermal barite, chlorite, clay,
and breccias with black silica- and pyrite-rich matrices. Most of these alteration products are
hosted in latite. The alteration is sporadically expressed in croppings and float in a northeast
trending zone about 2,000 feet long and 800 feet wide.
Scoop and rock chip samples from this area are anomalous in elements associated with IOCG
mineralization. The highest values for all CVN scoop samples are from the IOCG area for Au
(max. 0.394 ppm), As (max. 76 ppm), and Cu (max. 72 ppm). Similarly for all CVN rock chip
samples, the highest values are from the IOCG area and include Au (max. 0.554 ppm), As (max.
1985 ppm), Cu (max. 298 ppm), P (max. 8760 ppm), and rare earths La (max. 190 ppm) and Ce
(max. 251 ppm).
Alteration assemblages and associated trace elements identify this northern area as IOCG
mineralization. Zoning systematics in alteration and trace element geochemistry are not
currently documented. Detailed geologic mapping and sampling may define the controls and
economic potential of the IOCG mineralization.
Previous exploration has inadequately explored this prospect. Additional exploration is
warranted.
20.0 RECOMENDATIONS (Item 22)
(1)
Map the geology of and additionally sample the entire claim block.
(2)
Conduct additional scoop sampling over areas that have not been sampled and where
there are essentially no outcroppings to sample. This is an effective tool in
identifying, but not quantifying geochemical anomalies. Follow-up of the scoop
samples with detailed soil sampling may be warranted to additionally define the
geochemical anomalies.
(3)
Drill test the main range-front chalcedony/quartz breccia-veining further down dip.
The exposed and previously drilled portions of the veining fit into the exploration
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model above the expected level of gold mineralization. Drill holes need to reach at
least 1,200 feet below surface to test the model depth of expected gold if the gold
precipitated under hydrostatic conditions. If the system sealed itself, the depth to
gold could be greater. By comparison, ore in the Midas low-sulfidation epithermal
Au-Ag vein formed at depths of 1,542 to 2,624 feet below the paleosurface (Riederer,
2007).
(4)
Drill test the northern vein segment. This segment is 2,000 feet north of the
northernmost drill hole (TC-4). It is also where the range-front veining may intersect
the IOCG mineral system. Both scoop and rock chip samples from the veining and its
vicinity are anomalous in Au, As, Hg, and Cu, and scoop samples are also anomalous
in Tl. Drilling in this area may intersect gold associated with the vein and/or the
IOCG mineralization.
(5)
Drill test for vein extensions and additional veins that may be mineralized. The CVN
vein-alteration system is large and complicated. Only five holes on three drill lines
test the vein which is intermittently exposed for at least 9,400 feet on the claims.
Anomalous scoop samples up to 0.036 ppm Au are on the range front along the
northward projection of the vein zone 3,400 feet north of the northern vein segment.
Jones’ field work (2009) does not cover this area. Surface mapping revealed
significant footwall veins traceable for 2,500 northeastward from the southern parts of
the main vein. Mapping and previous angle drill holes indicate the vein-proximal
footwall sericite/illite + pyrite alteration zone is at least 560 feet thick and relatively
thick compared to the model. This phyllic alteration may be associated with
undiscovered veins. The previous drilling encountered 5-foot thick quartz-calcite
veins 165 feet (TC-3) and 275 feet (TC-2) down-hole from the main vein zone and at
a vertical depth of 950 feet associated with elevated Se (1-3 ppm, TC-5).
Undiscovered veins may exist as splays off the main vein or as separate veins
localized by additional structures buried under pediment cover west of the range
front. Furthermore, the highest drilled gold intercepts (0.334 and 0.395 ppm Au) are
45 to 350 feet below the main vein. The CVN vein system has not been drilled
through to its footwall propylitic zone, is inadequately tested down dip and along its
outcrop trend, and has not been explored along its north and south projections.
(6)
Acquire mineral or exploration rights in sections 31 T. 31 N., R. 51 E. and 5 T. 30 N.,
R. 51 E. adjacent to the west claim boundary. The current western claim boundary
constrains westward placement of drill sites to test down-dip projections of the rangefront veining and for possible additional veins under the pediment.
20.1 Proposed Drilling Program Summary and Budget
Additional drilling is warranted to further test the bonanza vein target opportunities on the CVN
property along the approximately 3 to 4 kilometer long, northwest-trending vein system
38
Gold Standard Ventures Corp.
CVN Exploration Project
indicated to be present in the range margin exposures. A combination of RC pre-collars to drill
through the difficult rock of the footwall structural-zone, followed by core tails to drill the veined
target zones is recommended.
Proposed Budget for Phase I
Geological supervision (60 days @ $600/day)
Surface sampling: 250 samples @ $20/sample
Additional site prep and reclamation bonding, 2-3 sites
RC drilling of 5 pre-collars, each 500 to 800 ft, 3000 feet @ $25/ft
3000 ft casing @ $12/ft
Core tails drilling, 5 holes, ea 1000 ft, 5000 ft total @ $80/ft
Assays RC cutting and core, 1600 samples @ $20/sample
Total (in US dollars)
$36,000
$5,000
$10,000
$75,000
$36,000
$400,000
$32,000
$594,000 (USD)
This program, which includes more surface geochemical sampling early in preparation for the
drilling, is a phase I examination of the bonanza vein model. As a result of this phase I drilling, it
is believed that the model will or will not be confirmed. In any respect, however, with assay
encouragement, it is likely that more exploration of a phase II drilling program would be
warranted.
39
Gold Standard Ventures Corp.
CVN Project Report
21.0 REFERENCES (Item 23)
21.1 General References
Anderson, R. Ernest, compiler, 2000, Fault number 1157a, Cortez Mountains fault zone, northeast section, in
Quaternary fault and fold database of the United States: U.S. Geological Survey website,
http://earthquakes, usgs.gov/regional/faults.
Camp, Victor E., and Ross, Martin E., 2004, Mantle dynamics and genesis of mafic magmatism in the intermontane
Pacific Northwest: Journal of Geophysical Research, v. 109, B08204, 14 p.
Colgan, J. P., and Metcalf, J. R., 2006, Apatite fission track and (U-TH)/He dating of slip on the Crescent Fault,
Nevada: abs., American Geophysical Union, Fall Meeting 2006, abstract No. T11D-0466.
Dennis, Bob, 2006, An integrated petroleum evaluation of northeastern Nevada: Western Cordillera web site,
http://westerncordillera.com.
Dohrenwend, J.C., and Moring, B.C., 1991, Reconnaissance photogeologic map of young faults in the Winnemucca
1o by 2o quadrangle, Nevada: U.S. Geological Survey Miscellaneous Field Studies Map MF-2175, 1 sheet,
scale 1:250,000.
du Bray, Edward A, 2007, Time, space, and composition relations among northern Nevada intrusive rocks and their
metallogenic implications: Geosphere, v. 3, p. 91-107.
Henry, C.D., and Ressel, M.W., 2000, Eocene magmatism of northeastern Nevada: The smoking gun for Carlintype gold deposits, in Cluer, J.K., Price, J.G., Struhsacker, E.M., Hardyman, R.F., and Morris, C.L., eds.,
Geology and Ore Deposits 2000: The Great Basin and Beyond: Geological Society of Nevada
Symposiium Proceedings, May 15-18, 2000, p. 365-388.
John, D.A., Garside, L.J., and Wallace, A.R., 1999, Magmatic and tectonic setting of late Cenozoic epithermal goldsilver deposits in northern Nevada, with an emphasis on the Pah Rah and Virginia Ranges and the Northern
Nevada Rift: in Low-Sulfidation Gold Deposits in Northern Nevada, Joseph A. Kizis, Jr., ed. Geological
Society of Nevada 1999 Spring Field Trip Guidebook, Special Publication No. 29, p. 65-158.
John, D.A., Hofstra, A.H., Fleck R.J., Brummer J.E., and Saderholm, E.C., 2003, Geologic setting and genesis of the
Mule Canyon low-sulfidation epithermal gold-silver deposit, north-central Nevada: Econ. Geol., v. 98, p.
425-463.
John, D.A., Wallace, A.R., Ponce, D.A., Fleck, R.B., and Conrad, J.E., 2000, New perspectives on the geology and
origin of the northern Nevada rift, in Cluer, J.K., Price, J.G., Struhsacker, E.M., Hardyman, R.F., and
Morris, C.L., eds., Geology and Ore Deposits 2000: The Great Basin and Beyond: Geological Society of
Nevada Symposium Proceedings, May 15-18, 2000, p. 127-154.
John, David A., and Wrucke, Chester T., 2003, Geologic map of the Mule Canyon Quadrangle, Lander County,
Nevada: Text and references for Nevada Bureau of Mines and Geology Map 144, 18 p.; web reference
m144text.pdf.
John, David A., Henry, Christopher D., and Colgan, Joseph P., 2008, Magmatic and tectonic evolution of the
Caetano caldera, north-central Nevada: A tilted, mid-Tertiary eruptive center and source of the Caetano
Tuff: Geosphere, v. 4, p. 75-106.
Johnson, Abigail C., 2001, Impact Assessment Report on Proposed Shipments of Spent Nuclear Fuel and HighLevel Radioactive Waste through Eureka County, Nevada: prepared for Board of Eureka County
Commissioners, 68 p.
Jones, Michael B., 2009, CVN project, Eureka County, Nevada: unpublished 2008 Progress Report prepared for C3
Resources Inc., 11 p.
Juhas, Allan P., 2007, Geological Framework and Styles of Mineralization in C3 Resources’ Cortez-Carlin Project,
Western Side of the Cortez Mountains, Eureka County, Nevada: unpublished Technical Report for C3
Resources Inc., 38 p.
Krausfopf, Konrad B., 1967, Introduction to Geochemistry: McGraw-Hill, 721 p.
Muffler, L.J.P., 1964, Geology of the Frenchie Creek quadrangle, north-central Nevada: U.S. Geological Survey
Bulletin 1179, 99p.
40
Gold Standard Ventures Corp.
CVN Exploration Project
Phinisey, J.D., Hofstra, A.H., Snee,LI.W., Roberts, T.T., Dahl, A.R., and Loranger, R.J., 1996, Evidence for
multiple episodes of igneous and hydrothermal activity and constraints on the timing of gold
mineralization, Jerritt Canyon District, Elko County, Nevada, in Coyner, A.R., and Fahey, P.L., eds.,
Geology and Ore Deposits of the American Cordillera: Geological Society of Nevada Symposium
Proceedings, Reno/Sparks, Nevada, April 1995, p. 15-39.
Roberts, R.J., Montgomery, K.M., and Lehner, R.E., 1967, Geology and mineral resources of Eureka County,
Nevada: Nevada Bureau of Mines and Geology Bull. 64, 152 p.
Smith, J.F., Jr., and Ketner, K.F., 1976, Stratigraphy of post-Paleozoic rocks and summary of resources in the
Carlin-Pinon Range area, Nevada: U.S. Geological Survey Professional Paper 867-B, 48p.
Wallace, Alan R., Perkins, Michael E., and Fleck, Robert J., 2008, Late Cenozoic paleogeographic evolution of
northeastern Nevada: Evidence from the sedimentary basins: Geosphere, v. 4, p. 36-74.
21.2 Epithermal Vein References
Buchanan, L.J., 1981, Precious metal deposits associated with volcanic environments in the southwest: Arizona
Geological Society Digest, v. 14, p. 237-261.
Cooke, David R. and Simmons, Stuart F., 2000, Characteristics and Genesis of Epithermal Gold Deposits: SEG
Reviews, v. 13, p. 221-244.
Dong, G., Morrison, G., and Jaireth, S., 1995, Quartz textures in epithermal veins, Queensland—Classification,
origin, and implication: Econ. Geol. v. 90, p. 1841-1856.
Gemmell, J. Bruce, 2007, Exploration implications of hydrothermal alteration associated with epithermal Au-Ag
deposits: abs. in Circum-Pacific Tectonics, Geologic Evolution, and Ore Deposits: Arizona Geological
Society Symposium, Tucson, Arizona, September 24-30, 2007.
Hedenquist, J.W., Antonio, A.R., and Gonzalez-Urien, E., 2000, Exploration for epithermal gold deposits: SEG
Reviews, v. 13, p. 245-277.
Juras, Dwight S., 2007, Structural review of the Cresent Valley-North Project, Eureka County, Nevada: unpublished
report for Gold Run Inc., April 11, 25 p.
Riederer, Matthew, 2007, Fluid inclusion study of the Midas low sulfidation epithermal Au-Ag deposit, Elko
County, NV: abs. in Circum-Pacific Tectonics, Geologic Evolution, and Ore Deposits: Arizona
Geological Society Symposium, Tucson, Arizona, September 24-30, 2007.
Simmons, Stuart F., and Browne, R.L., 2000, Mineralogical indicators of boiling in two modern low-sulfidation
epithermal environments: The Broadlands-Ohaaki and the Waiotapu geothermal systems, New Zealand, in
Cluer, J.K., Price, J.G., Struhsacker, E.M., Hardyman, R.F., and Morris, C.L., eds., Geology and Ore
Deposits 2000: The Great Basin and Beyond: Geological Society of Nevada Symposiium Proceedings,
May 15-18, 2000, p. 683-690.
Wake, Bradley, 2006, Jelai drilling proposal: Kalimantan Gold Corporation website .pdf report:
http://www.kalimantan.com/i/pdf/JelaiDrillingProposal2006.pdf
21.3 IOCG References
Barton, M.D., Jensen, E.P., Johnson, D.A., and Ducea, M., 2007, A Cordilleran perspective on fluid sources for Feoxide(-Cu-Au) (IOCG) systems: Geologic and isotopic constraints from the Copiapo area, Chile: abs. in
Circum-Pacific Tectonics, Geologic Evolution, and Ore Deposits: Arizona Geological Society
Symposium, Tucson, Arizona, September 24-30, 2007.
Barton, Mark D., and Johnson, David A., 1996, Evaporitic-source model for igneous-related Fe oxide—(REE-CuAu-U) mineralization: Geology, v. 24, p. 259-262.
Chiaradia, M., Banks, D., Cliff, R., Marschik, R., and de Haller, A., 2006, Origin of fluids in iron oxide-copper-gold
deposits: constrains from δ 37Cl, 87Sr/86Sr, and Cl/Br: Mineralium Deposita, v. 41, p. 565-573.
Cruise, M., Hitzman, M., and Lopez, G., 2007, Baja California, Mexico—new IOCG discoveries in a frontier
district: abs. in Circum-Pacific Tectonics, Geologic Evolution, and Ore Deposits Symposium, Arizona
Geological Society, Tucson, September 24-30.
41
Gold Standard Ventures Corp.
CVN Project Report
Groves, D.I., Condie, K.C., Goldfarb, R.J., Hronsky, J.M.A., and Vielreicher, R.M., 2005, 100th anniversary special
paper: Secular changes in global tectonic processes and their influence on the temporal distribution of
gold-bearing mineral deposits: Econ. Geol., v.100, p. 203-224.
Johnson, David Alan, 2000, Comparative studies of iron-oxide mineralization: Great Basin: Ph.D. thesis,
University of Arizona, 450 p.
Marschik, Robert, and Fontbote, Lluis, 2001, The Candelaria-Punta del Cobre Iron oxide Cu-Au(-Zn-Ag) deposits,
Chile: Econ. Geol., v. 96, p. 1799-1826.
Partington, Greg A., and Williams, Patrick J., 2000, Proterozoic Lode Gold and (Iron)-Copper Gold Deposits: A
Comparison of Australian and Global Examples: SEG Reviews, v. 13, p. 6-101.
21.4 Soil Gas and Biogeochemistry References
Duddridge, G.A., Grainger, P., and Durrance, E.M., 1991, Fault detection using soil gas geochemistry: Quarterly
Journal of Engineering Geology, v. 24, p. 427-435.
Highsmith, Patrick, 2004a, Overview of soil gas theory: Explore, no. 122, p 1-23.
Highsmith, Patrick, 2004b, Soil gas carbon dioxide and oxygen for mineral exploration: Explore, no. 122, p. 14-15.
Lechler, Paul J., and Coolbaugh, Mark, 2007, Gaseous emissions from Steamboat Springs, Brady’s Hot Springs, and
Desert Peak geothermal systems, Nevada: Geothermal Resources Council Transactions, v. 31, p. 359-362.
McCarthy, J.H., and Kiilsgaard, T.H., 2001, Soil gas studies along the Trans-Challis fault system near Idaho City,
Boise County, Idaho: U.S.G.S. Bull. 2064-LL, 12 p.
Polito, P.A., Clarke, J.D.A., Bone, Y., and Viellenave, J., 2002, A CO2—O2—light hydrocarbon—soil-gas anomaly
above the Junction orogenic gold deposit: a potential, alternative exploration technique: Geochemistry:
Exploration, Environment, Analysis, v. 2, p. 333-344.
Smith, Shea Clark, 2004, Thermally speciated mercury in mineral exploration: Explore, no. 122, p. 16-19.
Smith, Shea Clark and Vance, Randall B., 2005, Discovery using metal concentrations in plants, Rosebud Mine,
Pershing County, Nevada, in Rhoden, H.N., Steininger, R.C., and Vikre, P.G., eds., Geological Society of
Nevada Symposium 2005; Window to the World, Reno, Nevada, May 2005, p. 1225-1240.
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22.0 AUTHORS’ CERTIFICATES AND SIGNATURES (Item 24)
22.1 Dwight S. Juras , P. G., M.S., Ph. D.
I, Dwight S. Juras, P. G., do hereby certify that I am currently an independent, Registered
Professional Consulting Geologist and:
1. I graduated with a Bachelor of Science degree in Geology from Hunter College in
1966, a Master of Science degree in Geology from the University of Idaho in 1973, and a
Doctoral degree in Geology from the University of Idaho in 1974.
I have practiced my profession as a geologist for mining and exploration companies and as an
independent consultant for a total of 35 years since my graduation.
2. I am a Registered Professional Geologist in the states of California (#3968), Idaho (#445), and
Oregon (#G893).
3. I have read the definition of “qualified person” set out in National Instrument 43-101 (“NI 43101”) and certify that by reason of my education, affiliation with a professional association
(as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a
“qualified person” for the purposes of NI 43-101. I am independent of both the vendor and the
issuer applying all of the tests in section 1.4 of National Instrument 43-101.
4. I am responsible for overseeing, reviewing, and signing off on the preparation of all
sections/items of this report entitled: CVN Exploration Property, Eureka County, Nevada, U.S.A.
dated: November 9, 2009, and revised March 4 and May 11, 2010 (“the Technical Report”).
5. I have had prior involvement with the property and project having visited the CVN in 2007
and subsequently wrote a report on it in the same year. I have also visited the property for one
day on September 23, 2009.
6. As of the date of the certificate, to the best of my knowledge, information and belief, the
technical report contains the necessary technical information to make the technical report not
misleading.
7. I have read National Instrument 43-101 and Form 43-101F1. This Technical Report has
been prepared in compliance with that instrument and form, and I take full responsibility for all
the sections/items included within this technical report.
8. I do not own or expect to receive any interest (direct, indirect or contingent) in the
CVN property described herein. I am independent of JKR Gold Resources Inc. and the vender:
Gold Standard Ventures Corp. as described in section 1.4 of NI 43-101.
8. I consent to the filing of the Technical Report with any securities regulatory authority, stock
exchange and other regulatory authority and any publication by them, including electronic
publication in the public company files on their websites accessible by the public, of the
Technical Report.
Dated: November 9, 2009. Reviewed and revised March 4 and May 11, 2010.
Dwight S. Juras, P. G., M.S., Ph. D.
May 11, 2010
Address: 1471 Mount Grant Dr
Reno, Nevada 89523
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[This page has been left blank intentionally.]
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Gold Standard Ventures Corp.
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23.0 ILLUSTRATIONS AND APPENDICES (Item 26)
Figure Number
Page
1. CVN location map.
47
2. CVN claim map.
48
3. Geologic map of part of the CVN claim block.
49
4. Photo of major range-front vein croppings (looking northerly).
50
5. Photo of massive chalcedony vein (looking northerly).
50
6. Photo of bladed chalcedony/quartz pseudomorph replacements of calcite.
51
7. Photo of vein breccia (looking northerly).
51
8. Photo of stockwork chalcedony/quartz veins in footwall of massive range-front
chalcedony/quartz vein (looking southerly).
52
9. Photo of propylitic (epidote) alteration in latite breccia.
52
10. Geologic map of range-front chalcedony/quartz veins and phyllic (bleaching +
goethite) alteration.
53
11. CVN scoop sample Au.
54
12. CVN scoop sample As.
54
13. CVN scoop sample Hg.
55
14. CVN scoop sample Cu.
55
15. CVN rock chip Au.
56
16. CVN rock chip Hg.
56
17. CVN rock chip As.
57
18. CVN rock chip Sb.
57
19. CVN rock chip Mo.
58
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Gold Standard Ventures Corp.
CVN Project Report
20. CVN rock chip Cu.
58
21. CVN rock chip Zn .
59
22. CVN rock chip Pb.
59
23. TC-1 cross section showing gold and quartz vein intercepts,
Au grade x thickness, and cumulative vein thickness.
60
24. TC-2, -3, -5 cross section showing gold and quartz vein intercepts,
Au grade x thickness, and cumulative vein thickness.
60
25. TC-4 cross section showing gold and quartz vein intercepts, Au grade x
thickness, and cumulative vein thickness.
61
26. Low-sulfidation epithermal gold quartz vein (bonanza vein) model.
62
27. 2009/2010 proposed CVN drill sites
63
Appendix A: Table V: CVN Claim Numbers, BLM Numbers, and Eureka County
Recordation Book and Page
46
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Gold Standard Ventures Corp.
CVN Exploration Project
north
scale:10 mi/ 16 km
Figure 1. CVN location map
47
Gold Standard Ventures Corp.
CVN Project Report
N
scale:1 mi/1.6km
Figure 2. CVN claim map.
48
Gold Standard Ventures Corp.
CVN Exploration Project
IOCG Area
N
Figure 3. Geology of part of the CVN claim block.
49
Gold Standard Ventures Corp.
CVN Project Report
Figure 4. Major range-front vein croppings (looking northerly).
Figure 5. Massive chalcedony vein (looking northerly).
50
Gold Standard Ventures Corp.
CVN Exploration Project
Figure 6. Bladed chalcedony/quartz pseudomorph replacements of calcite.
Figure 7. Vein breccia (looking northerly).
51
Gold Standard Ventures Corp.
CVN Project Report
Figure 8. Stockwork chalcedony/quartz veins in footwall of massive range-front
chalcedony/quartz vein (looking southerly).
Figure 9. Propylitic (epidote) alteration in latite breccia.
52
Gold Standard Ventures Corp.
CVN Exploration Project
N
Figure 10. Geologic map of range-front chalcedony/quartz veins
and phyllic (bleaching + goethite) alteration.
53
Gold Standard Ventures Corp.
CVN Project Report
north
scale:1 km/0.62 mi
north
scale:1 km/0.62 mi
54
Gold Standard Ventures Corp.
CVN Exploration Project
north
scale:1 km/0.62 mi
north
scale:1 km/0.62 mi
55
Gold Standard Ventures Corp.
CVN Project Report
north
scale:1 km/0.62 mi
north
scale:1 km/0.62 mi
56
Gold Standard Ventures Corp.
CVN Exploration Project
north
scale:1 km/0.62 mi
north
scale:1 km/0.62 mi
57
Gold Standard Ventures Corp.
CVN Project Report
north
scale:1 km/0.62 mi
north
scale:1 km/0.62 mi
58
Gold Standard Ventures Corp.
CVN Exploration Project
north
scale:1 km/0.62 mi
north
scale:1 km/0.62 mi
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Gold Standard Ventures Corp.
CVN Project Report
JKR Gold Resources Inc.
CVN PROJECT
Elev., ft
Section 4483088 N
(UTM)
5600
TC-1
stkwk Qtz
5400
st Ox
5200
20 ft 0.020 ppm
5 ft 0.038 ppm
20 ft 0.023 ppm
mod Chl
vn
Q
Latite
5000
200 ft
Q
vn
ne
zo
st Ser
mod Py
4800
563838 E
(UTM)
200 ft
Looking N 0o E
4600
86
0f
t
Tot. vn = 40 ft
GT = 0.7 ft x ppm
mbj 08/29/09
Figure 23. TC-1 cross section showing gold and quartz vein intercepts,
Au grade x thickness, and cumulative vein thickness.
JKR Gold Resources Inc.
CVN PROJECT
Elev., ft
(TC-5 projected
617 ft south.)
TC-3
TC-5
TC-2
stkwk Qtz
Qal
5400
st Ox
5 ft 0.01 ppm
st Ox
200 ft
5600
Section 4484305 N
(UTM)
st Ox
5200
mod Chl
20 ft 0.014 ppm
st Chl
Latite
Q
20 ft 0.024 ppm
10 ft 0.021 ppm
vn
Q
5000
vn
200 ft
ne
zo
Looking N 0o E
5 ft 0.055 ppm
m-st Q-Ser
90 ft 0.024 ppm
mod Chl
5 ft 0.020 ppm
Q
5 ft 0.031 ppm
10 ft 0.186 ppm
4800
vn
Monzonite
wk Chl
wk Py
4600
5 ft 0.01 ppm
5 ft 0.01 ppm
563225 E
(UTM)
5 ft 0.395 ppm
Tot. vn = 10 ft
GT = 0.6 ft x ppm
m-st Q-Ser
Tot. vn = 95 ft
GT = 4.6 ft x ppm
10
00
ft
Tot. vn = 125 ft
GT = 2.5 ft x ppm
10
20
ft
mbj 08/29/09
Figure 24. TC-2, -3, -5 cross section showing gold and quartz vein intercepts,
Au grade x thickness,and cumulative vein thickness.
1020 ft
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Gold Standard Ventures Corp.
CVN Exploration Project
JKR Gold Resources Inc.
CVN PROJECT
Elev., ft
Section 4484889 N
(UTM)
TC-4
stkwk Qtz
5600
15 ft 0.007 ppm
5 ft 0.010ppm
5400
mod Chl
Q
vn
zo
ne
st Ox
Latite
5 ft 0.008 ppm
5200
st Q-Ser
M onz
onite
200 ft
5000
st Ser
4800
200 ft
4600
10
563426 E
(UTM)
Looking N 0o E
20
ft
Tot. vn = 30 ft
GT = 0.2 ft x ppm
Figure 25. TC-4 cross section showing gold and quartz vein intercepts,
Au grade x thickness, and cumulative vein thickness.
61
mbj 08/29/09
Gold Standard Ventures Corp.
CVN Project Report
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APPENDIX A
Table V
CVN Claim Numbers, BLM Numbers, and Eureka County Recordation Book and Page
CVN
Number
1
through
14
BLM County County
NMC
Book
Page
836897
356
14
836910
356
27
through
15
18
862055
862058
375
375
123
126
through
19
32
836911
836924
356
356
28
41
through
33
76
862059
862102
375
375
127
170
through
77
112
931052
931087
439
439
217
252
through
113
139
931117
931143
439
439
265
291
through
140
151
931088
931099
439
439
253
264
through
152 1003113
172 1003133
484
484
261
281
64