EQS-News

North Peak's Upcoming Drill Program to Target Gold on Prospect Mountain North; Drilling Plans Close to Being Finalized and Weather Improving

EQS-News: North Peak Resources Ltd. / Key word(s): Miscellaneous North Peak's Upcoming Drill Program to Target Gold on Prospect Mountain North; Drilling Plans Close to Being Finalized and Weather Improving 09.04.2024 / 18:54 CET/CEST The issuer is solely responsible for the content of this announcement. Eureka, Nevada--(Newsfile Corp. - April 9, 2024) - North Peak Resources Ltd. (TSXV: NPR) (the "Company" or "North Peak") is finalizing plans for its upcoming drilling campaign on its Prospect Mountain Property in Eureka, Nevada (the "Property" or "Prospect Mountain") which is expected to consist of up to 15,000 feet of R/C drilling with 20-30 holes targeting the gold zones on patented claims in the Wabash and Delaware/Madrid areas located in the northern portion of the Property ("Prospect Mountain North") (see Figure 1 below). Drilling at Prospect Mountain North will be at select areas around the former high-grade Williams, Wabash and Chicago gold mines, and the Wabash area which had 91 holes for 27,615 feet of vertical RC drilling completed in 1998/1999 when the gold price was much lower (see Figure 2 below). The campaign is also expected to include follow-up on a drill hole drilled by Homestake Mining that returned very promising gold assays; it is a lone hole located in the eastern portion of the Property with no other historic drilling activity nearby (see Figure 3 below).

"The deep hole drilled in late 2023 (PM23-01) confirmed the camp's geologic structures and faults and now we can focus on drilling the gold zones in the northern and eastern parts of the Property, which was always our goal," said Brian Hinchcliffe, North Peak's CEO. "Prospect Mountain itself was mined for gold from 4 shafts from the 9,600-foot elevation down to the 6,500 level off and on from 1870 until 1980 from both the east and west sides of the mountain and has not been explored since gold was $275 an ounce."

Some of the better RC intersections from historical drilling that will be followed up include:

North (Wabash) Area:

• 0.24 oz/t over 80 ft including 1.6 oz/t over 5 ft plus 1.1 oz/t over 5 ft (8.2 g/t Au over 24.4 m + 22.6 g/t Ag), starting at 145 ft;
• 0.12 oz/t over 50 ft including 0.49 oz/t over 5 ft plus 0.37 oz/t over 5 ft (4.1 g/t Au over 15.2m + 59.9 g/t Ag) starting at 0 ft;
• 0.13 oz/t over 70 ft including 1.0 oz/t over 5 ft plus 0.28 oz/t over 5 ft (4.5 g/t Au over 21.3m + 35.0 g/t Ag) starting at 0 ft;
• 0.09 oz/t over 40 ft (3.0 g/t Au over 12.2 m + 38.7 g/t Ag) starting at 0 ft;
• 0.08 oz/t over 45 ft including 0.26 oz/t over 5 ft (2.9 g/t Au over 13.7 m + 42.3 g/t Ag) starting at 0 ft;
• 0.12 oz/t over 55 ft including 0.86 oz/t over 5 ft plus 0.30 oz/t over 5 ft (4.1 g/t Au over 16.8 m + 25.3 g/t Ag) starting at 305 ft; and
• 0.16 oz/t over 45 ft including 1.25 oz/t over 5 ft (5.6 g/t Au over 13.7 m + 60.8 g/t Ag) starting at 20 ft.

East (Homestake Hole 1725) Area: