The Bald Mountain discovery is located approximately 0.5 km northeast of the Eocene Bullion Stock. The discovery is defined by 16 widely-spaced drill holes that intersect disseminated gold, silver, copper, and zinc mineralization over a 1.6 by 1.2 km area. Mineralization is open in all directions and coincides with a distinct 4.0 by 1.1 km gravity low, and with west-northwest-striking rhyolite and dacite porphyry dikes.
Gold, copper, and to a lesser extent zinc mineralization is hosted in collapse-brecciated, skarn and spotted hornfels of the Webb Formation, above Devils Gate Limestone (marble). Skarn alteration appears to be overprinted by a dissolution collapse breccia event and Carlin-style silicification. Gold and copper zones are tabular and spatially separate, with gold occurring in the upper portion and copper located in the lower part of the breccia. The upper oxidized gold zone ranges from 3 to 57 meters thick and average grades range from 0.35 to 3.5 gpt Au. The lower copper zone ranges from 8 to 105 meters thick and average grades range from 0.2 to 0.6 wt.%. Disseminated silver occurs above and within the gold and copper zones. Alteration associated with mineralization includes vertically-extensive oxidation, argillization, silicification and quartz veining.
In 2013, GSV completed one vertical core hole (RRB13-01) to follow-up on historic RC drilling. Results of this core hole included 56.1 meters of 1.47 gpt Au, 23.3 meters of 0.4% Cu, and confirmed the presence of a vertically extensive zone of hydrothermal alteration, collapse brecciation, and igneous dikes. These results verify the deposit model being used, a large mineralizing system, and the discovery of a new mineralized zone.
Metallurgical tests (agitation leach) performed on gold-bearing pulp samples from RRB13-01 provided an unweighted average of 82% recovery after one hour of cyanide agitation leach. Based upon these result, further drilling is warranted at the Bald Mountain Target.