Timberline Announces Updated Mineral Resource Estimate at the Eureka Project under SEC Regulation S-K 1300 - Seite 2

S-K 1300 is a relatively new regulation that requires SEC registrants with material mining operations, including those in the exploration and development stages, to provide certain disclosures about its mining activities in its SEC filings.

Growth Opportunities in and around the Lookout Mountain Resource

Conclusions and recommendations from the TRS include the observation that the resources reported are open along strike in both directions, as well as down dip (Figure 1). The possible extension of the Lookout Mountain deposit south through to the South Adit resource provides the best opportunity for near-term enhancement of project resources. In addition, there is excellent potential to add to the existing resources that lie west of the Ratto Canyon fault at the Lookout Mountain deposit.

The TRS recommends a program of infill drilling, resource-expansion drilling, further metallurgical testing, full three-dimensional geological modeling, and the completion of an Initial Assessment based on the current resources.

Timberline's exploration work at Eureka in recent years has been largely outside the resource area, but geologic modeling and extensive drilling at the adjacent Water Well Zone (WWZ) suggest that the two systems are related. Carlin type gold mineralization has been intercepted at more than 1,000 feet (300 meters) deep downdip from the Lookout Mountain deposit in the WWZ. That target remains open to the east and south.

Timberline drilling farther to the northeast from the WWZ target has also intersected silver-lead-zinc mineralization that is consistent with carbonate-replacement type deposits (CRD). A very large induced polarization (IP) chargeability anomaly occupies the corridor adjacent to and below the known Carlin-type gold and CRD-type drill intercepts. The IP anomaly has not been thoroughly drill tested.

Qualified Persons Disclosure

The mineral resource estimate was completed and reviewed by a Qualified Person at RESPEC Company, LLC, who are independent of Timberline Resources Corp.

In addition to RESPEC, the Technical Report Summary was co-authored by Steven Osterberg, Ph.D., P.G., Timberline's Vice President Exploration, who is a Qualified Person but is not independent of the Company as he is an officer.

Both Dr. Osterberg and RESPEC have reviewed and approved the contents of this release.

Foto: Accesswire

Figure 1 - Lookout Mountain Resource Area and Nearby Exploration Targets at Eureka Project

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