In February 2023, the Company staked the 163-claim Nighthawk Gold Property in the central Walker Lane gold belt in Esmeralda County, Nevada. The Nighthawk Gold Property is prospective for near-surface, open pit/heap leach-recoverable oxide gold mineralization.
The 100%-owned Nighthawk Property covers approximately five square miles of underexplored pediment on BLM-administered Federal land at the south end of the Gilbert Mining District, 25 miles west of Tonopah, NV. The claims host isolated outcrops surrounded by areas of thin (typically 0-50 metres thick) alluvial material covering the targeted Miocene volcanic stratigraphy. Prospecting and rock sampling in late 2022 identified several areas hosting mineralized float boulders grading between trace and 10.8 g Au/t. In January 2023, the Company’s geophysical contractor flew a 725 line-kilometre drone aeromagnetic survey which identified several covered multi-kilometre-long linear structural zones and confirmed that an outcropping rhyolite dome coincides with a large magnetic low. Similar structures and rhyolite domes control mineralization on the adjacent Castle/Boss/Berg oxide gold deposits. * The eastern edge of the Nighthawk claims is less than 300 metres from the Berg deposit.
The Castle/Boss/Berg oxide gold deposits collectively host NI 43-101-compliant Inferred Resources of 20 million tonnes grading 0.49 g Au/t. The Castle/Boss/Berg deposits are laterally extensive gold deposits, with higher grade gold mineralization reported where vertical faults are present. The eastern edge of the Nighthawk claims is less than 300 metres from the Berg deposit. Based on Bitterroot’s geological mapping, sampling and aeromagnetic survey, these features are also found on the Nighthawk Property.
The Nighthawk Property has seen minimal exploration since the discovery and development of the adjoining Castle/Boss/Berg gold deposits in the 1970’s, 80’s and 90’s. BLM records indicate very few claims have been previously recorded in the area and there are no known drill holes. The property has low relief and is at moderate elevation, remaining accessible by paved highway and gravel roads year-round.
Bitterroot’s management believes that the Nighthawk Property has the potential to host large, near-surface oxide gold deposits amenable to low-cost open pit mining and heap leach precious metals recovery methods in a top-ranked mining jurisdiction. Management and its technical consultants are currently developing plans for ongoing exploration.
Mr. Robert (Rick) Streiff, CPG, is the Qualified Person responsible for the technical content of this disclosure.