About P2 Gold
P2 Gold is a Vancouver-based mineral exploration and development company launched in 2020 to advance early-stage precious metals and copper projects in favorable jurisdictions in the western US and British Columbia. The management team at P2 has a proven track record of success in all stages of mining, from discovery to profitable mining operations, including taking the Brucejack Mine in the Golden Triangle from discovery to commercial production in less than eight years. P2 is focused on advancing its flagship Gabbs Project in Nevada and BAM Property in northwest British Columbia, the newest gold discovery in the Golden Triangle.
Gabbs – Optimization and Expansion in Nevada
The Gabbs gold-copper project is located on the Walker-Lane Trend in the Fairplay Mining District of Nye County, Nevada. Gabbs has an Inferred Mineral Resource of 1.84 million ounces of gold equivalent or 1.26 million ounces of gold and 422.3 million pounds of copper (73.1 million tonnes grading 0.54 g/t gold and 0.26% copper) (see P2’s news releases of February 23, 2021, March 11, 2021 and May 17, 2021).
The Gabbs Project is comprised of 421 unpatented lode mining claims and one patented lode mining claim covering four known zones of mineralization and comprising approximately 33.2 square kilometers (12.8 square miles). Nevada Highway 361, Gabbs Pole Line Road and a powerline cross the Gabbs Project. The gold-copper mineralization at three of the zones, Sullivan, Lucky Strike and Gold Ledge, is hosted within what are interpreted to be sills associated with an alkaline gold/copper porphyry. The gold mineralization at the fourth zone, Car Body, is interpreted to be low-sulphidation epithermal mineralization.
Based on historical drilling, the Gabbs Project has an Exploration Target (in addition to the Inferred Mineral Resource) of 0.90 million ounces of gold to 2.25 million ounces of gold (contained in 40 million to 70 million tonnes at an average grade of 0.7 to 1.0 g/t gold). No Exploration Target has been estimated for copper. The potential quantity and grade of this Exploration Target is conceptual in nature. There has been insufficient exploration to define it as a Mineral Resource and it is uncertain if further exploration will result in the target being delineated as a Mineral Resource.
Due to the limited systematic exploration completed to date at Gabbs, P2 believes the full potential of each of the known zones of mineralization has yet to be recognized. The mineralized zones have not been tested along strike or at depth, and of the 494 holes drilled at Gabbs between 1970 and 2011, 180 holes (36%) ended in mineralization. Also, a significant number of holes drilled prior to 2004 were, depending on the focus of the operator, assayed only for gold or only for copper, not both metals.
Since acquiring the project in May, P2 has completed a Phase One metallurgical program (see P2 news release dated August 4, 2021), geophysics, mapping and sampling, a production trade-off study to assess process options (see P2 news release dated October 19, 2021) and a Phase One drill program (see P2 news releases of September 8, 2021, October 13, 2021 and October 19, 2021). An additional geophysics program and a Phase Two metallurgical program are underway.
BAM – British Columbia’s Newest Gold Discovery
The BAM Property consists of ten mineral tenures that cover an area of over 8,100 hectares, located in the Golden Triangle approximately 150 kilometers northwest of Stewart, BC. Highway 37 and the Northwest Transmission Line are approximately 35 kilometers to the east of the property, and the Galore Creek Project access road is 1.7 kilometers to the southeast. P2 has an option to acquire a 100% interest in the BAM Property (see P2’s news release of July 2, 2020).
The BAM Property was discovered in the 1960s when copper focused regional exploration resulted in the discovery of the Galore Creek deposit, approximately 35 kilometers to the west, and the Schaft Creek deposit, approximately 20 kilometers to the northwest; both deposits are large copper-gold porphyry mineralizing systems. In the 1980s, exploration efforts on the BAM Property focused on gold; however, until P2’s 2020 exploration program, the BAM property had not been systematically explored for large porphyry related copper-gold or a bulk tonnage gold-silver system.
In August 2020, P2 completed a soil geochemical sampling program, which resulted in the discovery of the Monarch Gold Zone in the northwest corner of the property. The 2020 exploration program at the BAM Property also included airborne magnetic and radiometric surveys, a 15-kilometer IP geophysical survey and geological mapping and prospecting. See P2’s news release of October 8, 2020 for BAM Property 2020 exploration program results.
In 2021, P2 completed a drill program at BAM consisting of six holes totaling 835.9 meters. The Monarch Gold Zone was tested with drill holes BAM-001, 002, 003, and 005, which were targeted on coincident IP chargeability anomalies with highly anomalous gold in soil values of up to 5.7 grams per tonne. The Jan Copper Zone was tested with drill holes BAM-004 and 006, which were targeted on soil geochemistry with values in excess of 1% copper and surface showings exposed in historical trenches. All four holes drilled to test the Monarch Gold Zone intersected gold and both holes drilled to test the Jan Copper Zone intersected copper (see P2 news releases dated August 30, 2021 and October 6, 2021).
Planning for the BAM 2022 Exploration Program is underway and is expected to include diamond drilling to test the full extent of the Monarch Gold Zone and Jan Copper Zone.
To learn more about P2 Gold, go to https://p2gold.com/
For more about the activity in the Nevada area and to see the digital map, go to https://digigeodata.com/area/nevada/
For more about the activity in the Golden Ttiangle area and to see the digital map, go to https://digigeodata.com/area/golden-triangle/