Abacus Outlines New Gold Targets at Jersey Valley - Seite 2

The second IP anomaly appears to have been intersected by historic drill hole 06JC017C, which hit narrow zones of anomalous gold and silver throughout, including 0.18 g/t gold over 29.87 m. at the end of the hole (also a down hole rather than true width).This hole was drilled beneath an outcropping sinter, which is related to ongoing hot springs geothermal activity.

The reprocessed IP geophysics was also used to interpret structures (faults) in the basin. Structures are both parallel to and at high angles to the range front fault. Of note is the fact that structures appear to bracket both resistivity anomalies, possibly indicating sub-basins within the larger basin.

The Company believes that the reprocessing has highlighted the fact that the best portions of the IP targets are essentially untested. Past drilling clearly indicates that they contain gold and silver, along with a suite of other elements typical of these precious metal bearing systems. The reprocessing also identified several high angle chargeability anomalies that may be feeders to the extensive flat lying anomalies.

Past drilling was neither extensive enough, deep enough nor optimally placed to adequately test the system. Next steps are further drill testing of these targets, possibly preceded with an expansion of the geophysics on adjacent lines. A new figure showing the reprocessed IP will be posted on the Company website shortly.

As demonstrated by past operators, the Jersey Valley property is prospective for both intrusion- related sediment hosted, and epithermal precious metal mineralization. The property is located within north-central Nevada within the Battle Mountain trend, in close proximity to both the Phoenix/Fortitude mine complex (approximately 14 Moz gold plus significant Ag and Cu past production and a proposed mine life to 2063) and the Cove/McCoy Mine: 3.4 Moz gold and 110 Moz Ag past production. (Past production data is from the Newmont Mines and Premier Gold Mines websites. The reader is cautioned that the mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on the Company’s Jersey Valley gold property). The Jersey Valley property has a well-maintained sealed road running through it, which provides access to a 15 MW geothermal power plant located on the edge of the claim group.