WOODLAND HILLS -
This Extension will give the parties the ability to consummate the transaction as previously announced.
In addition, TONOGOLD and JAG have also released recent assay results from a sampling program at the
Mapping Methodology
The mapping strategy at Stateline involves targeting areas with visible carnotite mineralization where scintillometer readings surpass 3000 cps, optimizing the search for high-potential uranium deposits. Scintillometer checks are routinely performed at 0.1-mile intervals, or more frequently in notable areas, focusing on geological units and historical mining structures like sealed adits, which are marked with brass caps for reference. Sampling primarily target areas with evident carnotite or uraninite in bedrock, avoiding less reliable ?oat or tailings unless necessary. Most samples, numbering seven in total, were collected in-situ.Additionally, strike and dip measurements are taken at sites with clear bedding or jointing, aiding in understanding the host rock's structure to predict potential subsurface uranium sites for future drilling.
Mapping Assessment and Observations
Mapping results indicate two ore zones; the lower zone exhibits higher scintillometer readings, with values up to 45,200 cps, compared to 35,000 cps in the upper zone. Seven samples, labeled SL1-SL7 were taken across these zones, revealing multiple high-value locations within a 400-foot area.
Future Plan
The Company is currently planning to complete diamond drilling and gamma logging of 15-20 holes, with accompanying geochemical analysis to adequately de?ne disequilibrium across the deposit and test extensions. This will enable an updated NI43-101Technical Report.
TONOGOLD CEO
Quali?ed persons
Mr Andrew Hawker,BSc. Geol, MAIG, is a member of the Australasian Institute Geoscientists, is a consultant to
Contact:
Interim CEO
Tel: +1 203 856 7285
Email: bhunter@tonogold.com
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