North Peak Announces Results of Dump Sampling Program on Prospect Mountain, Eureka, Nevada Calgary, Canada
North Peak Announces Results of Dump Sampling
Program on Prospect Mountain, Eureka, Nevada
Calgary, Canada 31 January, 2024
North Peak Resources Ltd. (TSX Venture: NPR) (the “Company” or “North Peak”) announces results
from the first phase of sampling of surface workings on its Prospect Mountain property in Eureka, Nevada
(the “Property”). As part of a surface mapping project, some of the dumps, numerous surface shafts, adits
and scrapes were assayed.
Highlights:
• Of the total of 7 7 rock chip and grab samples, the samples averaged, 2.42 g/t Au, 76.2 g/t Ag,
0.38% Cu, 1.06% Pb, 1.33% Zn.
• The highest-grade gold sample assayed 33.9 g/t Au, 183 g/t Ag, 0.9% Cu, 1.81% Pb, 1.66% Zn
from an unnamed surface scrape on a patented claim.
• Twelve samples returned grades > 5 g/t Au, and averaged 10.34 g/t Au, 200.8 g/t Ag, 0.20% Cu,
2.96% Pb, 1.30% Zn.
Samples were taken from outcrops and subcrops in old workings where possible, and from the dumps
in front of the workings. (Fig. 1; 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
samples have so far been taken from the surface mineralization within the Hamburg Dolomite above
the underground workings of the historic Diamond Mine, as well as nearby smaller mines , including
the Williams Mine, where historic production recorded an average grade of 3.9 oz Au , 28.56 oz Ag
and 1.51 % Lead (Source: The Eureka Mining District, Nolan 1962).
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 soil sampling data
contained within the press release of 18 October 2023, and geophysics, to help 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
geology.
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 news 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 ex tract 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]
The TSXV has in no way passed upon the merits of the transactions described herein and has
neither approved nor disapproved the contents of this news release.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING STATEMENTS : This news
release includes certain "forward-looking statements" under applicable Canadian securities legislation.
Forward-looking statements include, but are not limited to, statements with respect to the ability of the
parties to complete the transactions described herein , estimates of mineralization from drilling ,
sampling and geophysical surveys, geological information projected from 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 caut ioned 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.
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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
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, 2022 and the
quarter ended September 30, 2023 , available at www.sedar.com, 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, wheth er 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, %
164872.8 8524203 Grab Dump 33.90 183 0.90 1.81 1.66
164663 8523648 Grab Dump 16.75 243 0.05 3.17 2.26
164626.5 8523696 Grab Dump 10.20 580 0.03 11.70 0.57
164533.2 8523553 Chip Subcrop 6.99 125 0.01 1.60 0.16
164853.1 8524322 Grab Dump 6.92 118 0.04 1.16 1.38
164878.8 8523644 Grab Dump 6.42 105 0.12 1.24 1.42
164873.9 8524182 Grab Dump 6.06 86.1 0.30 0.68 0.69
164551.6 8523997 Grab Dump 6.00 229 0.25 0.49 1.37
164845.7 8524377 Grab Dump 5.67 293 0.24 3.74 1.12
164655.7 8523688 Grab Dump 5.58 160 0.04 5.02 0.65
164786.7 8523693 Grab Dump 5.13 270 0.25 3.74 2.47
164673.9 8523812 Chip Subcrop 4.30 145 0.03 1.21 0.82
164662.2 8523128 Grab Dump 3.78 56.8 0.29 0.60 1.31
164483.9 8523960 Grab Dump 3.16 33.5 0.12 1.73 0.96
164746.9 8523102 Grab Dump 2.75 133 0.16 0.66 0.74
164678.8 8523976 Grab Dump 2.63 70.5 0.15 1.33 2.04
164610.1 8523175 Grab Dump 2.42 76.6 0.32 0.19 1.71
164646.5 8523451 Grab Dump 1.74 98 0.02 1.27 0.42
164833.8 8523223 Grab Dump 1.62 23.4 0.70 0.72 2.80
164846.2 8524420 Chip Outcrop 1.49 53.7 0.06 0.56 1.06
164834.1 8524144 Grab Dump 1.20 61.5 0.42 0.34 1.33
164839.4 8524080 Grab Dump 1.17 358 0.15 1.06 1.45
164748.5 8523190 Grab Dump 1.09 41.2 0.12 0.52 0.98
164671.7 8523413 Grab Dump 1.03 49.7 0.64 6.16 0.89
164816.2 8524256 Grab Dump 0.96 96.9 0.20 2.58 2.01
164636.7 8523572 Chip Vein 0.94 121 0.99 0.66 1.63
164831.5 8524072 Grab Dump 0.92 98.7 0.43 1.79 1.64
164721.6 8523886 Grab Dump 0.90 448 0.33 0.87 2.08
164534.3 8523164 Grab Dump 0.84 27.6 0.31 0.38 1.19
164736.9 8523212 Grab Dump 0.79 89 0.29 0.80 1.11
164798.6 8523985 Grab Dump 0.62 44.6 0.04 0.73 0.76
164556.1 8523211 Grab Dump 0.54 15.6 0.07 0.20 1.63
164652.5 8524031 Grab Dump 0.51 51.4 0.04 1.05 1.50
164862.9 8524234 Grab Dump 0.49 11.8 0.30 0.66 2.01
164652.9 8523313 Chip Subcrop 0.48 14.05 0.27 1.02 3.21
164647.1 8523135 Grab Dump 0.47 5.55 0.52 0.03 1.85
164567.8 8523248 Grab Dump 0.44 6.18 0.11 0.13 1.42
164568.8 8523188 Grab Dump 0.44 36.9 0.25 0.48 0.90
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East North
Sample
Type
Sample
Source Au, g/t Ag, g/t Cu, % Pb, % Zn, %
164827.1 8524011 Grab Dump 0.39 83.3 0.04 0.19 1.34
164703.5 8523129 Grab Dump 0.38 9.53 0.29 0.22 1.37
164783.6 8522983 Grab Dump 0.38 156 0.15 1.50 0.79
164857.6 8524088 Grab Dump 0.38 71.2 0.08 0.61 1.08
164762 8523218 Chip Subcrop 0.35 11.95 0.45 0.80 1.75
165070.9 8525140 Chip Subcrop 0.23 6.19 0.07 1.36 1.15
164628.1 8523134 Grab Dump 0.22 5.21 0.26 0.05 1.64
165017.6 8524229 Grab Dump 0.19 53.6 1.00 0.73 1.58
164653.9 8523436 Grab Dump 0.16 6.36 0.16 0.85 8.12
164992.3 8523744 Grab Dump 0.11 10.75 0.15 0.12 1.73
164742.2 8523157 Grab Dump 0.09 7.07 0.21 0.27 1.36
164894.8 8523929 Chip Subcrop 0.06 47.6 0.20 1.29 1.56
164729.9 8523649 Chip Subcrop 0.06 8.4 0.55 0.65 2.79
165014 8523749 Chip Subcrop 0.01 56.1 0.01 0.72 0.07