North Peak Resources Ltd. (TSX Venture: NPR) (the “Company” or “North Peak”) reports that its
3,253-foot first exploration core hole (PM23-001) successfully drilled the conductive Mobile MT
geophysical anomaly identified from summer 2023 surveys on its Prospect Mountain Property in
Eureka, Nevada (the “Property” or “Prospect Mountain”) (see the Company’s October 27, 2023
press release).
This first exploration hole was drilled to the west from the easily accessible Diamond Mine portal and
intersected at least 8 mineralized zones of the Carbonate Replacement (CRD) style that were within
altered Hamburg dolomite, the host rock of the Diamond Mine workings above (see Figures 1 and 2).
Significant intersections include 9.5% Zn, 221.6 g/t Ag, 0.8% Cu, and 0.3% Pb over 1.0 m (3.28 ft),
7.3% Zn, 54.6 g/t Ag, and 0.8% Pb over 1.9 m (6.23 ft), and 355 g/t Ag and 4.6% Pb over 0.3 m (1 ft)
(see Table 1 below). An intersection of 0.6 g/t Au over 3.1 m was located along the Jackson Fault that
was historically thought to be devoid of gold, indicating potential Carlin style gold leakage along the
fault.
“This initial drill hole was positioned to enable us to target the MT anomaly identified from an
operationally efficient location in winter”, commented Mike Sutton, Director and Senior Geologist. “The
hole intersected some of the faults that run across the Property, and this will help us test theories of
the fault systems that exist in the Eureka camp and drive the multiple types of mineralization that exist in the camp, in particular how to best drill the other large targets further north on the Property.”
PM23-001 was successful in intersecting several zones of pyrite, sphalerite, galena +- chalcopyrite mineralization in the projected area of the MT geophysical anomaly. Given the accompanying zinc rich and low gold nature of the massive sulphide mineralization intersected, it is thought that this hole intersected “halo” style mineralization peripheral to larger, more conductive bodies that should have higher galena and gold further north in the system. These low lead-zinc ratios are indicative of distal halo mineralization; in surface soil sampling, higher lead-zinc ratios are intimately associated with historical workings and increase markedly to the north (see Figure 1).
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