New Drilling Program Commences At Gold Basin Project

VANCOUVER - Gold Basin Resources Corporation reported that a ~10,000m drilling program has started at the Gold Basin oxide gold project in north-western Arizona. Drilling will target the Cyclopic, Stealth and PLM Deposits, following up on the shallow, continuous, gold-bearing mineralization identified in the first 10,000m program in 2021 and historical drilling that showed significant potential at the Stealth and PLM deposits.

Michael Povey, CEO, said, “We are excited by the potential of the new drill program, especially with the inclusion of the Stealth and PLM deposits. The 2021 exploration program provided a better understanding of the mineralization at Cyclopic, which in turn showed us how that correlated with what we can see in the historic drilling results at these nearby deposits. Consequently, we are of the opinion that Stealth and PLM have excellent potential to add significant mineralization to what is being identified at Cyclopic.

We have also been active with detailed geophysical surveys at the Gold Basin Project. High-resolution magnetic and hyperspectral surveys have been completed and we have just commenced the final piece of the geophysical "jig-saw", an IP Survey which we will have a news release on shortly. This information has already generated additional targets and a better picture of the Gold Basin Project geology.

Lastly, metallurgical heap-leach testwork continues. We just received the results of the initial bottle roll tests on drill composites and will report on the result soon. KCA have started work on the PQ core supplied to their laboratories before Christmas.  We move into 2022 with a solid foundation of exploration work and look forward to an exciting year."

The 2020/21 reverse-circulation drill program at the Cyclopic deposit identified oxide gold mineralization from surface to an average drillhole depth of 90m, along approximately 1.7km of strike length. The current drill program aims to expand the Cyclopic mineralization and assess several of the known nearby historic gold zones for the first time in decades.