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Operations

Linderos

The Linderos target is a new discovery identified by Core Gold during its 2017 exploration efforts and has not undergone any previous trenching or historical drill testing. The Company’s four contiguous Linderos Project concessions total 14,317 hectares and are located approximately 45 kilometers southwest of Core Gold’s Dynasty Goldfield project in the southwest edge of the Dynasty District (see map below). 

Initial work at Linderos indicate a brecciated shear zone which has showings of very high grade surface gold mineralization. On November 30th, 2017 the company announced significant high‐grade gold results from trenching activities at Linderos.

HIGHLIGHTS OF INITIAL TRENCHING RESULTS

The first twenty-nine trenches at the Linderos epithermal gold prospect within the Dynasty District yielded encouraging initial results including:

  • 21.00m at 18.51 g/t Au
  • 19.95m at 14.31 g/t Au
  • 18.20m at 14.74 g/t Au
  • 2.00 m at 326.8 g/t Au

Rock geochemistry and geological detail mapping indicate that the mineralized zone extends for 1,000 meters to the southeast adjacent to the area of trenching. Further trenching is ongoing with additional results due in early 2018.

The Company has applied for bulk sampling and drilling permits and is aiming to drill and bulk sample Linderos in Q1 2018.

The twenty-nine trenches were sampled over an area of 100 x 150m located within a larger 120m x 1,000m long brecciated shear zone defined by pervasive rock gold geochemical anomalies that have been confirmed by this initial trenching sampling program.

The results below are from the first 29 trenches of a planned 60 trench program.

Trench NumberInterval (m)Gold Grade g/t AuSilver Grade g/t AgComments
Linderos 14.001.6116.14 
Linderos 21.801.7015.38 
Linderos 34.000.693.87 
Linderos 48.003.939.83open
Linderos 54.000.924.01 
Linderos 66.002.265.97open
Linderos 76.000.744.38 
Linderos 87.001.263.12 
Linderos 920.902.645.83 
Linderos 108.6015.2720.23 
Linderos 1126.003.424.72 
Linderos 1218.0010.1013.45open
Linderos 1321.0018.5112.70open
Linderos 1418.2014.7419.12 
Linderos 154.0036.6536.05open
Linderos 1619.9514.3112.79 
Linderos 1717.0013.7021.12open
Linderos 1815.405.085.73 
Linderos 193.0010.788.20 
Linderos 2014.805.375.92 
Linderos 212.002.091.31 
Linderos 2212.005.559.38 
Linderos 2310.006.806.49 
Linderos 244.8017.7711.11 
Linderos 252.00326.80141.63 
Linderos 261.20106.6222.05 
Linderos 272.0015.81353.44 
Linderos 283.6014.4519.86 
Linderos 292.006.302.87 

DISCUSSION OF TRENCHING RESULTS

Significant surface trench gold results and mineralized structures suggest that mineralization continues at depth.

The shear zone related gold bearing mineralized structures/veins correspond to epithermal type mineralization and are connected laterally and at depth to the porphyry body, suggesting the existence of a porphyry system that will be explored in detail in 2018.

The Company is currently planning a drill program along the known structure aiming to target high-grade Au mineralization in order to further complete the geological model.

2018 Phase 1 Linderos Drill Program

On July 9th, 2018 the Company announced the beginning of a planned 1,700 m drilling program consisting of 5 diamond drill holes with core recovery using the Hydro-Core 2000 portable drill rig owned by Core Gold. This drilling program has been designed with the intention of cutting the two described structures (Structure 1 and Structure 2) to understand the mineralization at depth in the shear zone and porphyry related lithologies.

Qualified Person

Mr. John E. Bolanos, who is a qualified person under NI 43-101 guidelines, has reviewed and approved the technical content of this section and will continue consulting the Company for future material. Mr. Bolanos is a M.Sc. Mining Geologist from Camborne School of Mines (U.K.) and a Professional Geologist Eng. from The Central University of Ecuador (honours degree). He is a registered member (ID 4172671) of the Society for Mining, Metallurgy & Exploration (SME) of the United States; Director of the Ecuadorian College of Engineers in Geology, Mines, Oil and Environment; and a member of the Mining Chamber of Ecuador. He has 27 years of experience in the exploration and mining industry throughout the Americas.

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