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Timberline Resources Corporation

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  101 E. Lakeside Avenue
Coeur d'Alene, ID 83814
USA
Tel No.: 208-664-4859
Web Site: www.timberline-resources.com
E-mail: costerberg@timberline-resources.com
Contact Person: Cathy Osterberg
Position: Office Manager


Company Data

Traded Market: TSX-V | OTCQB
Traded Symbol: TBR | TLRS
Outstanding Shares: 139.6 M
52 Week High: C$ 0.51
52 Week Low: C$ 0.20
Present Price: Click Here


Introduction

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Timberline Resources is a gold-focused explorer in the world class mining jurisdiction of Nevada, USA, within the famous Battle Mountain-Eureka Trend. Directors and management are heavily invested and currently own 20.9% of the company.

At Eureka, the Company is exploring for Carlin-type gold mineralization such as the two historic mines on the property, from the1970s-1980s, from which approximately 133,000 troy ounces of gold were produced by open pit heap leach mining. The historic mining district also included earlier high-grade underground production of gold, as well as silver-lead-zinc ores.

Discoveries have also been made at the Paiute Project in the Battle Mountain District. These are intrusion-related gold ± copper-gold systems being advanced through a joint venture with Nevada Gold Mines.

Timberline Projects

Timberline's flagship Eureka Project near Eureka, Nevada hosts a mineral resource containing >500,000 oz of gold (Measured & Indicated), which includes an attractive high-grade gold zone on which the Company continues to focus for expansion.

Timberline is also operator of the Paiute joint venture project with Nevada Gold Mines in the Battle Mountain District. Initial drilling at Paiute has identified gold mineralization with geologic and geochemical similarities to several nearby multi-million oz deposits nearby, such as the Phoenix-Fortitude, Lone-Tree, and Copper Basin Mines.

The Company's Seven Troughs Project is an attractive early-stage epithermal gold-silver vein system in western Nevada. The large land position includes very high-grade historic gold-silver mines. Timberline has no immediate plans to conduct work there, but may be considering joint venture or other transactional opportunities.

Investment Highlights

  • Nevada, a top-ranked mining investment jurisdiction
  • On-trend projects on the prolific Battle Mountain-Eureka Trend
  • A significant existing gold resource with upside potential, plus exciting drill-indicated gold on three projects
  • 139.6M shares outstanding with significant institutional holdings
  • 20.9% Management and Director ownership
  • Experienced Management and Board


Projects in Hand

Eureka Project

Historic Production, Demonstrated Gold Trends, and New Targets

  • Carlin-type gold system with historic gold production (1970s – 1980s) exceeding 133,000 ounces
  • 60 km2 district-scale property south of +2M oz Archimedes Mine (Barrick)
  • Aggressive new exploration program focused on high-grade targets at Lookout Mountain, Windfall, and Oswego
  • Drill-indicated gold from >500 drill holes illustrates substantial opportunity for property-wide gold resource increase
  • NI 43-101 Resources at Lookout Mountain Target: 4 km gold-mineralized trend
    • Measured & Indicated: 508,000 oz, 26,254,000 tons @ 0.617 g/t (0.018 oz/t)
    • Inferred: 141,000 oz, 9,636,000 tons @ 0.411 g/t (0.012 oz/t)
  • High-grade Carlin-type gold zone flanking resource area:
  • Multi-gram intercepts including:
    • 20 m @ 12.1 g/t (0.35 oz/t); 7.5 m @ 9.74 g/t (0.28 oz/t)
    • 21 m @ 7.85 g/t (0.23 oz/t); 8.2 m @ 12.5 g/t (0.36 oz/t)
  • Windfall Target: Historic open pit gold production: 115,000 oz., run-of-mine heap leach
  • High-grade Oswego outcrop: 86 m @ 12.38 g/t (0.361 oz/t) gold

An extensive drill program is underway. The Company's objectives are to discover additional high-grade gold in and around the current resource and to advance new targets across the district-scale property with geologic mapping, geophysics, and geochemistry.

Highlights of the 2021 exploration program to date include:

  • Completed approximately 23 per cent (1,409 m) of the planned reverse circulation (RC) drilling at the Eureka Project – five holes completed in the Lookout Mountain area;
  • Completed a controlled source audio magnetotellurics (CSAMT) geophysics survey, spanning 19 line kilometres along four survey lines;
  • Commenced an induced polarization/resistivity (IP) survey – planned for 29 line kilometres primarily in the Windfall area;
  • Geological mapping well under way in the central Oswego Trend and northern Lookout Trend;
  • Completed an orientation soil survey across the Windfall Trend and approximately 700 soil geochemical samples in the northern portion of the property. (See Company news release dated August 11, 2021)

Paiute Project, Battle Mountain District

The Battle Mountain mining district

  • >25 M oz historic gold, ~2 B lbs copper production
  • 3 active mines
  • Adjacent to Giant Phoenix-Fortitude Mine Complex

Paiute Project: Au ± Ag

  • Lone Tree-type Structural Au & Au (-Cu) Porphyry
    • 0.5 x 2 km mineralized corridor
    • Surface rock gold assays up to 43 g/t
  • Intrusive-related gold:
    • 2019 Drilling: 25 ft (8 m) @ 0.48 g/t, 40 ft (12 m) @ 0.61 g/t, 80 ft (24 m) @ 0.51 g/t, 25 ft (8 m) @ 1.12 g/t
  • Timberline ownership: 80%; Nevada Gold Mines: 20%

Other Projects

Seven Troughs Project, Northern Nevada

  • Historic underground mining, recognized as yielding some of the highest gold production grades in Nevada history.
  • Exploration target: high grade gold and silver, Hishikari-type epithermal gold deposit.


Management

Management and Directors

Patrick Highsmith, President, CEO & Director

Over 30 years of international experience including operational, exploration, and business development roles with Newmont Mining, BHP, Rio Tinto, and Fortescue Metals Group

Currently Chairman of FireFox Gold Corp. and Director Idaho Champion Gold Mines

Formerly Director and senior executive in several junior companies including Lithium One, Bellhaven Copper & Gold, and Pure Energy Minerals

Steven Osterberg, Ph.D., P.G., Vice President Exploration

Over 30 years of gold and base metals exploration, permitting, development, closure, and management experience

Senior technical and management positions with junior to major mining groups, as well as engineering and consulting firms, including BHP Minerals, Knight Piésold, and Tetra Tech

Donald McDowell, Vice President, Director

Over 30 years of mining-related exploration, property evaluation, and resource development primarily in Nevada, including 17 years with majors (Santa Fe Pacific Gold, Kennecott, Nippon Mining)

Founder of Americas Gold Exploration Inc. dedicated to exploration in Nevada, including instrumental role in the Carlin Vanadium deposit

Ted Sharp, CFA, Chief Financial Officer

President of Sharp Executive Associates, Inc.

14 years in positions of CFO, Managing Director of European Operations, and Corporate Controller for Key Technology, Inc.

Leigh Freeman, Director, Chairman

Over 35 years of mining industry experience in technical and executive positions, including former chief geophysicist Placer Dome, cofounder/CEO of Orvana Minerals, and former CEO of Blue Sun Energy

Advisor to Montana Tech, University of Arizona, and South Dakota School of Mines

William Matlack, Director

Over 20 years in precious metals exploration with Gold Fields and Santa Fe Pacific Gold Corp.

Pamela Saxton, CPA, Director

An accredited accountant with over 35 years international and domestic experience in mining, oil and gas, and software industries.


News Update

On April 04, 2022, Timberline Resources Corp. has filed with the TSX Venture Exchange for approval of a non-brokered private placement of up to $8-million (U.S.) in shares of the company at a price of 25 U.S. cents (31 Canadian cents) per share solely to persons or institutions who qualify as accredited investors under Rule 506(b) of Regulation D promulgated by the United States Securities and Exchange Commission under the U.S. Securities Act of 1933, as amended. The offering is subject to approval by the TSX-V.

The company plans to use the net proceeds of the offering for exploration on its Nevada gold projects, primarily geology, geophysics and drilling at its Eureka project on the prolific Battle Mountain-Eureka trend, and for general corporate purposes.

On March 24, 2022, Timberline Resources Corp. has released the results from two core holes from the 6,536-metre 2021 drilling program at its 100-per-cent-controlled Eureka project in Nevada. These include the final assays from drill hole BHSE-220C, a portion of which was previously reported (see company news release dated Feb. 24, 2022), as well as a deeper core hole (BHSE-206C), drilled to the east of the Water Well zone (WWZ) to test a major induced polarization chargeability (IP) anomaly (see company news release dated Feb. 3, 2021).

The finalized assays from BHSE-220C significantly lengthened the previously reported mineralized interval and slightly improved the grade of the higher-grade portions. The gold zone in this hole is summarized herein:

  • 44.2 metres at 4.10 grams per tonne gold from 140.8 m depth, including:
    • 22.9 m at 6.24 g/t gold from 140.8 m depth;
    • 12.2 m at 9.18 g/t gold from 151.5 m depth.

On August 11, 2021, Timberline Resources Corp. provides exploration and corporate updates. Timberline has provided a mid-season update on exploration at its 100-per-cent-controlled Eureka project in Nevada.


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