Developing Royalty Assets
in North America

St. Elmo

Property Highlights (Au,Ag):

Location: Elko Co., T44-45N, R36E, Island Mountain Mining District
Elevation: 7,800’.

Geology/Description:The St. Elmo Gold Project is located in northeastern Nevada, 20 miles south of the Idaho border and 69 miles north of the city of Elko. It covers about 75% of the historic Island Mountain mining district on the northern flank of the northeast-trending Midas Trough metallogenic trend, one of several important epithermal gold belts in Nevada. The St. Elmo mine was likely discovered in the late 1870s after the District was established in 1869 at Rosebud Mountain. Underground mining at that time and again in the 1940s resulted in only limited production of high grade pockets on the vein. Modern exploration in the late 1980s and 1990s included surface and underground sampling as well as limited surface drilling.

Gold mineralization at the St. Elmo mine is hosted in a north to northeast-trending structural zone, 6 to 30 feet wide, containing quartz veins and hydrothermal breccias. Free gold in the quartz veins is associated with sulfide minerals and in hydrothermal breccias cemented with hematite. The St. Elmo vein textures, wall-rock alteration features and suite of associated copper-sulfide minerals are suggestive of a high-sulfidation epithermal environment.Mapping by previous explorers indicates this system extends north and south well beyond the St. Elmo mine itself and is probably at least 4,000 feet long.

A 795 pound bulk sample collected underground in 1990 assayed 2.36 oz Au/ton and 1.15 oz Ag/ton.A core hole drilled in 1999 intercepted 63 feet of mineralized (0.072 oz Au/ton) vein structure at depths well below the existing workings, including intercepts of 8.5 feet assaying 0.167 oz Au/ton (with 1.5 feet assaying 0.498 oz Au/ton) and 6.25 feet averaging 0.460 oz Au/ton.The St. Elmo vein and the rest of the property remain essentially unexplored by modern methods.

For more information or access to the data room contact:

Jerry Baughman, Nevada Select
[email protected]

Trey Wasser, President & CEO
[email protected]