NSR holds a 100% interest in the Gold Canyon Project (Au, Ag), located
in Eureka County, Nevada and is one of its key focus properties. Gold
Canyon is located in the Gold Bar District in the southern Roberts
Mountains, a prolific precious metals mining area in the southern
portion of the Battle Mountain-Eureka trend consisting of a 200km long,
N-NW trending structural zone. The district itself contains a calculated
resource of 1.6 million ounces of gold. The Gold Canyon project
consists of 26 unpatented lode claims covering approximately 460 acres.
The claims are on BLM ground and include the original Gold Canyon pit as
well as an ore stockpile west of the pit. The claims were staked in
2015 and therefore have no underlying royalties.
The 100% owned Green Springs property is located in the southwest
corner of the historic White Pine mining district, 35 miles west of
Ely, Nevada and 7 miles south of Mt. Hamilton. The property consists of
193 unpatented mineral claims covering an area of 3700 acres. Green
Springs is a past operating heap leach gold mine which produced
1.1 million metric tons of ore averaging 2.1 g/t gold and is prospective
for Carlin-style gold and silver mineralization. The property was
originally staked in 1979 by U.S. Minerals Exploration Company ("USMX")
who explored the property from 1980-1988. During this time they drilled
~600 RC drill holes outlining six deposits throughout the claim block.
Mining commenced on three of these deposits in 1988 and operated until
1990. It is believed that during
this time USMX extracted ~60,000 Oz of gold from three pits. Three
additional deposits were left un-mined and remain open for delineation
and future production.
Ely Gold’s Isabella Project (Au) is located in Mineral County, Nevada
and is one of its key focus properties.Isabella comprises 153
unpatented IS and IW lode claims (~2700 acres) located on Bureau of Land
Management (BLM) land in the Santa Fe Mining District of the Walker
Lane Structural Province; the claims have no underlying royalties. The
Walker Lane Province hosts a number of gold-silver deposits mined in
modern times (FMC’s Paradise Peak mine 13 miles to the northeast, Echo
Bay’s Borealis mine 35 miles to the southwest, and Homestake’s Santa Fe
mine 2 miles to the east-southeast) as well as significant historical
producers such as Tonopah and the Comstock Lode.The Project is
immediately adjacent to, and likely an extension of, Gold Resource
Corporation’s Isabella-Pearl mine development property, which contains
hydrothermal alteration, structural ground preparation and gold
mineralization similar to that exposed on Ely’s property.
Ely’s Mina Gold property is located along the western margin of the
Cedar Mountains in central Nevada’s Walker Lane Mineral Belt in eastern
Mineral County, Nevada. The property covers an area of approximately 825
acres comprising 43 unpatented lode claims and five patented lode
claims in the historic Bell Mining District. It is approximately seven
miles northeast of Gold Resources’ Gold Mesa property and 15 miles east
of the Isabella/Pearl Project. Gold mineralization at Mina is hosted by
outcropping epithermal quartz veins within fault zones in Tertiary
volcanic rocks, typical of many Walker Lane ore deposits.