Metallurgy Testwork Confirms Excellent Gold Recoveries At Cyclopic Area Of Gold Basin Project

VANCOUVER - Gold Basin Resources Corporation reported on initial Bottle Roll Metallurgical Leach Testwork conducted in December 2021 on samples from the Cyclopic area of its 100%-owned Gold Basin project in Mohave County, Northern Arizona. In summary: 1) Bottle Roll Leach tests on samples from Cyclopic returned an average extraction of 72% gold and a maximum extraction of 86% gold (72 hrs leach time). 2) Gold extractions were good to excellent at depth and across the range of head grades. 3) Samples were taken across the deposit and at varying depths to ensure representativeness. 4) All results show a low sodium cyanide consumption in leach. 5) Further detailed metallurgical test-work is currently underway at the KCA laboratories in Reno, Nevada.  

Gold Basin submitted a total of 126 oxide-gold sample interval composites to metallurgy and process design experts Kappes, Cassiday & Associates (KCA) in Reno, Nevada in late October 2021. KCA sorted, weighed and composited these samples into sixteen (16) separate composite samples, which were then prepared with approximately 80% passing 1-2mm in size for bottle-roll leach testwork. Samples were selected from four PQ diamond drill holes drilled in four areas of the Cyclopic deposit to provide a distribution laterally and vertically through the deposit. The 72-hour leach tests demonstrate the potential for excellent extraction (recovery) for the Cyclopic oxide ore. 25% of the samples returned gold recoveries of over 80% and a further 50% above 70% gold recovery. Sodium cyanide consumptions ranged from 0.01 kilograms per metric tonne to 0.09 kilograms per metric tonne, which is on the lower side of typical consumptions. Hydrated lime additions ranged from 0.50 kilograms per metric tonne to 1.50 kilograms per metric tonne.

A comprehensive work program is currently underway on PQ core from the Cyclopic deposit that was provided to KCA in November 2021. The program was designed to provide at least a Scoping Study level of accuracy and will include 60-day column leach tests and a detailed dataset on the metallurgical recovery characteristics of the core. The Company will report on these results as they become available. KCA is independent of the Company.