North Peak Announces Drill Mobilization to Prospect Mountain and Results from Sampling Campaign on High Grade Historic Mines Calgary, Canada
North Peak Announces Drill Mobilization to Prospect
Mountain and Results from Sampling Campaign on
High Grade Historic Mines
Calgary, Canada 27 June, 2024
North Peak Resources Ltd. (TSX Venture: NPR) (the “Company” or “North Peak”) announces that
a drill has been mobilized to Prospect Mountain North area within the Prospect Mountain Property(the
“Property”) in Eureka, Nevada and drilling will commence this week.
In preparation for the drill program, the Company completed a further rock chip sampling campaign in
April 2024 that focused on the infrastructure of the historical mines that exist in the area.
Highlights of that rock chip sampling campaign include:
• Industry Tunnel, where the drilling will begin, recorded a chip sample of 20.5 g/t (0.66 oz/t) Au.
• Dead Broke Mine – yielded high silver values up to 911 g/t (29.2 oz/t) Ag, with up to 4.9 g/t (0.16
oz/t) Au.
• Dead Broke grab dump samples ranged up to 7 g/t (0.22 oz/t) Au and 265 g/t (8.5 oz/t) Ag.
• Duke Mine – the area around which had high silver values up to 655 g/t (21 oz/t) Ag, with up to 4.4
g/t (0.14 oz/t) Au.
• Madrid Mine – a small working, but had up to 2.5 g/t (0.08 oz/t) Au, and 158 g/t (5.1 oz/t) Ag.
“Permits arrived in time to take advantage of the daylight in June and July and the drill should be turning
by this weekend,” Brian Hinchcliffe, Chairman & CEO commented. “There are a number of exciting holes
targeting the historic high-grade mines in Prospect Mountain North and will be outlined in more detail in
an upcoming press release.”
Samples were primarily of gossan (oxidized sulfide ore) chipped from the walls of old stopes accessed
by the historic tunnels (see Figure 1 and Table 1 below). While grab samples from dumps are not
indicative of in situ grades and are often the “poor quality” ore left behind by the historical miners, they
give a useful guide to the composition and grade of the near surface mineralization present on the
Property.
The Company is using this data to complement and confirm the extensive historical rock grab database
gathered in the 1990’s by Homestake over the Property that comprises a total of 614 samples. The
combined databases will be used in conjunction with the previously reported sampling data contained
within the press releases of 18 October 2023 and 31 January 2024, and geophysics, to help continue
to determine near surface drill targets on the Property.
www.northpeakresources.com
TSX Venture: NPR
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Figure 1: Plan showing location of surface rock samples in relation to underground workings and
faults.
Review by Qualified Person, Quality Control and Reports
Mr. Mike Sutton, P.Geo., a director of the Company, is the Qualified Person, as defined under National
Instrument 43-101 - Standards of Disclosure for Mineral Projects , who reviewed and approved
scientific and technical disclosure in this press release. The Qualified Person has not reviewed the
mineral tenure, nor independently verified the legal status and ownership of the Property or any
underlying property agreements.
All samples referenced herein were prepped by ALS Elko, 1345 Water St, Elko, Nevada, USA. Gold
was assayed at ALS Reno, 4977 Energy Way, Reno, Nevada, USA. All base metals and silver were
assayed by ALS Vancouver, 2103 Dollarton Hwy, North Vancouver, BC, Canada. Gold was assayed
by 30g fire assay analysis with AAS or gravimetric finish (Au-AA23/5 or Au-GRA21). Base metals and
silver were analyzed using four-acid digestion ICP-MS (ME-MS61), with overlimit assays using Aqua
Regia and four-acid digestion with ICP-MS analysis (*-OG62). All ALS Geochemistry sites operate
under a single Global Geochemistry Quality Manual that complies with ISO/IEC 17025:2017, coupled
within a global LIMS platform. There is no relationship, fiduciary or otherwise, between ALS and the
Company.
All samples were of hand specimen size or larger, and were sealed in North Peak’s onsite facility and
shipped directly to the lab; the Company can guarantee the chain of custody. The Company's QA/QC
program includes the regular insertion of blanks and standards into the sample shipments, as well as
instructions for duplication. Standards and blanks are inserted every 20 samples.
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About Prospect Mountain
The Property lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold
Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization,
Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry
Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the
Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2000ft) below the top
of the ridge line.
A Plan of Operations is in place which covers part of the Property (totalling 81 acres) and entitles an
operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and
certain infrastructural works. It includes a permit to extract water from a well and to build water
containment facilities.
About North Peak
The Company is a Canadian based gold exploration and development company that is listed on the
TSX Venture Exchange under the symbol “NPR”. The Company is focused on acquiring historic sites,
with low cost producing gold and other metals properties, with near term production potential and 8+
year mine life in the northern hemisphere.
The Company recently acquired an initial 80% interest in the Prospect Mountain Mine complex in
Eureka, Nevada (see the Company’s May 4 and 23, 2023 press releases).
The Company can give no assurances at this time that its properties and interests will fulfil the
Company’s business development goals described herein. Trading in the securities of the
Company should be considered highly speculative.
For further information, please contact:
Brian Hinchcliffe, CEO
Phone: +1-647-424-2305
Email: [email protected]
Website: www.northpeakresources.com
Chelsea Hayes, Director
Phone: +1-647-424-2305
Email: [email protected]
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS : This press
release includes certain "forward-looking statements" under applicable Canadian securities legislation.
Forward-looking statements include, but are not limited to, timing and completion of any drilling and
work programs on the Property, estimates of mineralization from drilling, sampling and geophysical
surveys, geological information projected from drilling and sampling results and the potential quantities
and grades of the target zones, the potential for minerals and/or mineral resources and reserves, and
statements regarding the plans, intentions, beliefs, and current expectations of the Property and the
Company that may be described herein. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs, plans, expectations or intentions
regarding the future. Such information can generally be identified by the use of forwarding-looking
wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the
negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-
looking statements, as there can be no assurance that the plans, intentions or expectations upon
which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to the possibility that the predictions,
estimates, forecasts, projections and other forward-looking statements will not occur. These
assumptions, risks and uncertainties include, among other things, the state of the economy in general
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and capital markets in particular, accuracy of assay results, geological interpretations from drilling
results, timing and amount of capital expenditures; performance of available laboratory and other
related services, future operating costs, and the historical basis for current estimates of potential
quantities and grades of target zones, as well as those risk factors discussed or referred to in the
Company's Management's Discussion and Analysis for the year ended December 31, 2023 and the
quarter ended March 31, 2024, available at www.sedarplus.ca, many of which are beyond the control
of the Company. Forward-looking statements contained in this press release are expressly qualified
by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press
release. Except as required by law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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Table 1. Results of assays of surface and workings rock samples to date of greater than 1 g/t Au or greater
than 35g Ag or greater than 1% Cu or Pb or Zn. Locations are given in NAD83 UTM coordinates, Nevada
East grid. * Sample collected from relatively unaltered rock for background measure.
East North
Sample
Type
Sample
Source Au, g/t Ag, g/t Cu, % Pb, % Zn, %
165053 8524671 chip mine 20.5 13.5 0.674 0.136 0.926
164650 8524051 grab dump 7.02 265 0.0321 1.39 0.478
164784 8524509 chip mine 6.32 39.2 0.232 1.38 3.08
164705 8524012 chip mine 4.88 510 0.385 2.28 5.59
164576 8524559 chip mine 4.73 90.2 0.683 0.0504 0.864
164945 8524183 chip mine 4.37 511 0.474 1.38 1.43
164830 8524358 grab dump 3.64 25 0.1195 0.32 1.5
164921 8524202 chip mine 3.42 575 0.694 10.7 3.32
164704 8524017 chip mine 3.07 102 0.0503 0.723 1.76
164676 8523982 chip mine 2.82 83.1 0.259 2.89 2.54
164784 8524506 chip mine 2.56 30.6 0.303 0.407 4.08
164842 8524423 chip mine 2.5 158 0.21 0.616 1.975
164782 8524508 chip mine 2.43 70.2 0.375 0.474 4.22
164785 8524513 chip mine 1.89 53.5 0.404 3.68 2.63
164664 8523989 chip mine 1.84 83.1 0.32 4.81 17.3
164933 8524178 chip mine 1.65 189 0.774 1.165 0.974
164940 8524161 chip mine 1.63 216 0.355 6.02 1.85
164940 8524162 chip mine 1.62 400 0.713 7.09 3.55
164938 8524177 grab dump 1.52 165 0.344 1.225 1.125
164918 8524202 chip mine 1.21 655 0.0831 15.8 3.56
164664 8523988 chip mine 1.13 97.8 0.0984 1.105 1.335
164538 8524787 grab dump 1.06 17.45 0.743 0.1415 0.954
164702 8524541 chip mine 1.01 82.5 0.845 0.01345 1.12
164786 8524510 chip mine 0.95 43.7 0.364 1.265 3.02
164686 8524549 grab dump 0.92 84.6 0.618 0.1455 0.436
164675 8523982 chip mine 0.89 911 0.323 16 2.77
164918 8524202 chip mine 0.87 426 0.258 9.04 2.78
164497 8524348 chip mine 0.75 52.5 0.334 0.607 0.8
164913 8524211 chip mine 0.63 439 0.624 3.54 1.52
164919 8524200 chip mine 0.53 291 0.21 6.05 1.565
164915 8524209 chip mine 0.44 74.7 1.86 2.52 2
164894 8524256 chip mine 0.4 60.5 0.796 2.43 3.88
164895 8524256 chip mine 0.4 53.4 0.345 2.4 2.95
164896 8524256 chip mine 0.27 56.7 0.428 2.68 3.87
164846 8524424 chip mine 0.27 18.8 0.369 0.669 6.28
164675 8523982 chip mine 0.25 80 0.0615 1.52 0.869
164702 8524541 chip mine 0.24 58 0.42 0.0215 1.14
164651 8524051 grab dump 0.23 1.23 0.0157 1.015 1.125
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East North
Sample
Type
Sample
Source Au, g/t Ag, g/t Cu, % Pb, % Zn, %
164920 8524204 chip mine 0.22 268 0.0849 6.24 0.437
164703 8524012 chip mine 0.21 50.3 0.0987 1.16 1.9
164704 8524011 chip mine 0.19 116 0.1055 1.725 1.37
164677 8523982 chip mine 0.19 54 0.1005 2.09 30
164576 8524559 chip mine 0.17 62.4 0.296 0.0147 0.5
164705 8524017 chip mine 0.15 68.5 0.1515 1.16 3.25
164846 8524425 chip mine 0.15 13.15 0.165 0.297 3.68
164918 8524202 chip mine 0.14 187 0.0543 2.69 0.799
164652 8524052 grab dump 0.13 66.1 0.0779 1.765 1.66
164702 8524012 chip mine 0.13 55.5 0.00966 0.1575 2.01
164649 8524554 chip mine 0.09 60.2 0.67 0.045 1.325
164915 8524209 chip mine 0.08 20.5 1.745 2.19 2.15
164917 8524203 chip mine 0.06 83.5 0.0857 2.77 3.99
164771 8523931 chip mine 0.05 53.2 0.282 1.58 1.915
164935 8524179 chip mine 0.05 17.45 0.559 0.884 1.82
164936 8524177 chip mine 0.04 21.3 0.66 0.374 1.945
164703 8524016 chip mine 0.04 4.97 0.0456 0.515 1.87
164947 8524183 chip mine 0.02 21.7 0.383 0.637 1.335