EQS-News

North Peak Completes First Drill Hole at Diamond Mine on Prospect Mountain, Eureka; Downhole EM Survey Being Undertaken Shortly; Assay Results Pending

EQS-News: North Peak Resources Ltd. / Key word(s): Miscellaneous North Peak Completes First Drill Hole at Diamond Mine on Prospect Mountain, Eureka; Downhole EM Survey Being Undertaken Shortly; Assay Results Pending 19.01.2024 / 17:01 CET/CEST The issuer is solely responsible for the content of this announcement. Calgary, Alberta--(Newsfile Corp. - January 19, 2024) - North Peak Resources Ltd. (TSXV: NPR) (the "Company" or "North Peak") reports that it has drilled its first deep core hole at Prospect Mountain (the "Property") and that a BHEM survey is being undertaken to identify potential locations for further wedge drilling. This first hole NPR23-01 in Phase 1 of North Peak's program was 3,250 feet in length and targeted the roughly 2 kilometre conductive anomaly, located directly beneath the old oxide gold, silver, lead and zinc historical stopes of the Diamond Mine, as a result of geophysical surveys the Company carried out in the summer of 2023 (see the Company's October 27, 2023 press release).

"Eureka is now receiving the exploration focus at depth that other Nevada mining camps have received and will uniquely benefit from a greater understanding of the presence of polymetallic CRD, Skarn and Carlin mineralisation increases," said Brian Hinchcliffe, North Peak's CEO. "This first hole will provide us with greater insights into the structures and mineralisation at depth below the historical workings within the sulphide portion of the mineralisation and downhole surveys play an important role in unlocking these deeper potential areas of the Eureka camp."

The drill pad was located at an operational optimal location, at the portal entrance to the Diamond mine. The hole went to a depth of 5,492 feet amsl underneath Shaft 1 of the main workings targeted at the sulphide mineralisation below the water table which is estimated to be at around 6,500 feet amsl. The metal casing was left in the hole to allow for potential wedge holes that would be drilled following the completion of a downhole geophysical BHEM survey. The BHEM survey is being undertaken to evaluate the best orientation for potential wedging of this hole, as it will help to identify the location of the best conductors (sulphides) relative to the position of the original hole.