Tokop Gold Project

The 100% owned Tokop Gold Project is located on the prolific Walker Lane Trend in Esmeralda County (Tokop Mining District), approximately 80 km south of Tonopah. The land package spans over more than 31 sq km. Excellent infrastructure provides good access to the project site, and a number of deposit are currently developed or mined in nearby areas, including but not limited to Bullfrog, North Bullfrog, etc..

Nearby districts of Tonopah, Goldfield, and Bullfrog (near Beatty, NV) accounted for historical production of more than 8.3 million ounces gold and 143.5 million ounces of silver.

Geology:

The Tokop project, now being interpreted as Tokop North and Tokop South, hosts more than one style of gold mineralization and host rock. Tokop North is a reduced intrusive-related gold (“RIRG”) system hosted in granitoids and carbonate units, while Tokop South is typical Walker Lane-style epithermal mineralization hosted in Tertiary volcanics (Ammonia Tanks tuff) as well as Wyman Formation carbonate. This style of mineralization is more akin to ore deposits approximately 30 miles south and east of the project like those of the Bullfrog District. Deposits of the Bullfrog District (surrounding Beatty, Nevada) are low-sulfidation, volcanic and sedimentary-hosted, epithermal gold deposits like the Bullfrog Mine operated by Barrick Gold which produced over 2.3 million ounces of gold and 3.0 million ounces of silver from 1989 – 1999 from open pit and underground workings. 

The RIRG model is similar to large mines in the Tintina Gold Belt of central Alaska and contiguous parts of the Yukon. The best known and most economically important of these include Fort Knox, Pogo gold mine and the Eagle Mine of the Dublin Gulch Properties in the Yukon At Tokop, similar to those mines, sheeted quartz veins in a multi-phase, reduced, calc-alkaline granitoid intrusive as well as surrounding metamorphosed sedimentary rocks, coupled with widespread hydrothermal alteration, may host gold mineralization of significant potential. Shear-hosted veins extend for nearly two kilometres along strike at Tokop. To date, sampling of these vein systems returned grades of up to 71.73 gpt gold and 970 gpt silver (historical and current sampling).

Exploration Programs:

Between 2020-2021 exploration programs included mapping, sampling and geological review and interpretation of previous work conducted at the Tokop Gold Project. The Company’s initial surface rock samples returned up to 16.1 gpt gold and 105 gpt silver.  From that program, remaining surface rock samples (additional 116 samples) taken returned assays, from trace to significant high-grade material up to 19.3 gpt gold and 970 gpt silver.

In 2021, Riley Gold initiated a maiden HQ3 (oriented core) 18-hole drill program, which was designed to test and confirm the limited historical drilling relative to known vein sets mapped over 1.5 kilometers (“km”), as well as vein orientations in the sub-surface

2021 significant drilling highlights include:

  • TKR-21C: 9.32 gpt gold over 2.6 metres (“m”) from 46.2 m
    • including 17.1 gpt gold over 1.4 m plus an additional 235 gpt silver
  • TKR-22C: 1.67 gpt gold over 5.1 m from 31.9 m
    • including 0.4 m of 3.73 gpt gold plus an additional 82.2 gpt silver
    • including 0.8 m of 4.02 gpt gold
  • TKR-23C: 2.62 gpt gold over 5.94 m from 102.3 m
    • 4.98 gpt gold over 2.92 m plus an additional 97.3 gpt silver over 1.40 m

Historic Drilling

2013 drilling at the Tokop project yielded intercepts including:

  •        12m at 2.54 g/t Au
  •        18m at 1.25 g/t Au
  •        30m at 0.72 g/t Au
  •        14m at 0.94g/t Au

 

Planned Work

Currently the Company is planning further detailed mapping and an additional soil and rock sampling program. Data collected from this program will support in the development of high-quality drill targets for a possible drill program late 2022.