The South Railroad Project is a small portion of a large, contiguous land package knows as Railroad-Pinion. Railroad-Pinion is located along the Piñion Mountain Range approximately 15 miles (24km) south-southeast of Carlin, Nevada, in the Railroad Mining District.
Railroad-Pinion has favorable structural, geological and stratigraphic setting situated at the southeast end of the Carlin Trend of north-central Nevada, adjacent to and south of Nevada Gold Mines’ Rain Mining District. The Carlin Trend is a northwest alignment of sedimentary rock-hosted gold deposits with past production exceeding 90,000,000 ounces of gold. Each dome or “window” is cored by igneous intrusions that uplift and expose Paleozoic rocks and certain stratigraphic contacts that are favorable for formation of Carlin-style gold deposits. Railroad-Pinion is centered on the fourth and southernmost dome-shaped window on the Carlin Trend.
Railroad-Pinion constitutes a land position totaling 21,679 hectares of land in Elko County, Nevada. The Company owns, or otherwise controls 100% of the subsurface mineral rights on a total of 12,117 hectares of land held as patented or unpatented mineral lodes (claims). This includes 1,455 unpatented claims owned by the Company and 207 unpatented claims held under lease. The Company also owns or leases 30 patented claims. There is also a total of 9,562 gross hectares of private lands of which the Company’s ownership of the subsurface mineral rights varies from 49.2% to 100%.