Sunday, November 23, 2014 10:37:49 PM
GSMN has been studying and evaluating various properties throughout Nevada for the past 15 years. Consequently the properties have been assigned Asset Numbers for identity and confidentiality. Starting in 2009 the number of properties being studied was reduced to two and which were already identified in the company records as Asset #26 (Reveille) and Asset #27 (Mt. Boy/Eureka).
These two properties were selected because of the significant historical data and information regarding these two mining districts and because of the active claim ownership and/or production by significant companies owning adjoining claims.
Asset #26 (Reveille) consists of 54 claims located in Nye county Nevada about 60 miles south of Round Mountain which is owned by Kinross and Barrick. In addition to other historical studies and reports, the most recent study called the Condor Report was completed in August 2011 and concluded that the district has mineralization in the top 500 meters or 1500 feet. GSMN claims are located in the center of the area covered by the Condor Report. GSMN has also completed drilling activities in 2012 that confirmed gold and silver mineralization in the top 600 feet. The chart below shows some of the historical information regarding tonnage and grade of the ore located at Asset #26. GSMN is not looking for ore at Asset #26 (Reveille) but is in the process of finalizing plans for mining near surface ore. GSMN is also preparing to enter into a joint venture processing agreement to process its’ stockpiled ore located here.
Asset #27 (Mt. Boy/Eureka) consists of 60 claims in Eureka county Nevada about 3 miles from Eureka Nevada with another 3 claims containing stockpiled ore nearby. The claims are adjacent to the Barrick Gold operations in Eureka and other significant claim holders in the area. The chart below shows some of the historical information regarding tonnage and grade of the ore located at Asset #27. This property needs roads and some mine site work before it is ready to go into production. The joint venture processing agreement referred to above may also expand to include this property in the future.
http://www.goldandsilvermining.com/docs/Properties_110613.pdf
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