Timberline Resources Corporation
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'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.
Historic Production, Demonstrated Gold Trends, and New Targets
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:
Paiute Project, Battle Mountain District
The Battle Mountain mining district
Paiute Project: Au ± Ag
Seven Troughs Project, Northern Nevada
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.
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:
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.