The New Enterprise Project

Overview

The New Enterprise Project is comprised of 24 claims on a site totaling 480 acres near Kingman, Arizona.

Location Hualapai Range SE of Kingman, AZ
Size 24 Contiguous BLM Claims/ 480 Acres
Deposit Types Hard Rock Vein Structure
Claim Types Lode
Initial Claim Date 1900
Mine Type Underground Vein
Permitting Exploration
Primary Metal Mined Silver, Gold
Secondary Metals Mined Copper, Lead, Zinc
Work Done to Date Dump Pile Trenching, Tunnel and Surface Sampling
Project Stage Pre Production – Dump sampled ready to be milled
NI 43-101 Status Initial Evaluation Completed in 2013 and updated in 2016 See excerpts below. (Updated Document on File) Final Economic Evaluation is Pending
Mill Site Pilot Mill in Development (Off Site)
Last Known Production 1939

Assay Data

The mineralized zones on the property and in the immediate area are consistent with a quartz vein hosted polymetallic type of deposit. The New Enterprise consists of a series of generally northwest striking and steeply east dipping structures containing quartz and minor calcite as the gangue minerals containing pyrite (FeS2), silver and probable silver sulphides such as acanthite (Ag2S), minor gold and probable electrum (a silver-gold amalgam), copper as chalcopyrite (CuFeS2) and its secondary green oxide malachite, lead as galena (PbS) and zinc as a dark grey (rather than brownish) iron-rich sphalerite (ZnS). Historical reports describe those veins (or vein zones) as from 1.2 feet (0.3 m) to 14 feet (4.3 m) wide. Other mines in the immediate area are reported to contain telluride minerals and/or molybdenite (MoS2), a molybdenum sulphide mineral.

2016 Surface Sampling Program

February
Sample# Lab Cust Au
gpt
Au
opt
Ag
gpt
Ag
opt
Cu
%
Pb
%
Zn
%
Description
EN-1A BVI PSGR 1.42 0.05 148.5 5.23 0.053 0.21 0.04 Shaft Dump Pile Material
EN-2A BVI PSGR 0.726 0.025 61.4 2.16 0.82 0.45 1.04 Shaft Dump Pile Material
May
Sample# Lab Cust Au
gpt
Au
opt
Ag
gpt
Ag
opt
Cu
%
Pb
%
Zn
%
Description
N Ent-1 BVI PSGR 0.048 0.001 3.9 0.13 1.42 0.32 0.27 Jewel Tunnel Wall/Vein
N Ent-2 BVI PSGR 0.358 0.012 52.5 1.85 0.07 0.65 1.11 Shaft Site Composite
N Ent-3 BVI PSGR 0.079 0.002 9.9 0.34 0.05 0.11 0.06 4 Type Composite
N Ent-4 BVI PSGR 0.679 0.023 73 2.57 0.22 0.88 1.71 4 Type Composite
N Ent-5 BVI PSGR 0.401 0.014 25.6 0.9 0.03 0.025 0.04 Shaft Dump Pile
N Ent-6 BVI PSGR 0.012 0.0004 0.09 0.031 0.04 0.004 0.02 Shaft Dump Pile
N Ent-7 BVI PSGR 0.194 0.006 32.6 1.14 0.1 0.1 0.19 Shaft Dump Pile
June
Sample# Lab Cust Au
gpt
Au
opt
Ag
gpt
Ag
opt
Cu
%
Pb
%
Zn
%
Description
EN-1 BVI Barr 3.119 0.11 223.9 7.89 0.78 1.05 2.32 Spring Workings South
EN-2 BVI Barr 0.5 0.017 90 3.17 0.33 0.52 0.76 Shaft Dump Pile
EN-3 BVI Barr 0.782 0.027 404 14.25 1.35 22.5 0.26 Shaft Dump Pile
EN-4 BVI Barr 0.256 0.009 34.3 1.2 0.03 0.69 0.04 Shaft Dump Pile
EN-5 BVI Barr 1.069 0.037 92.5 3.26 0.85 8 10.95 Jewel Tunnel
EN-6 BVI Barr 0.433 0.015 248.9 8.77 0.14 0.19 0.055 Jewel Tunnel
EN-7 BVI Barr 0.458 0.016 99.7 3.51 1.97 0.79 1.23 Jewel Tunnel
EN-8 BVI Barr 0.314 0.011 32.1 1.13 0.26 0.13 1.65 Jewel Tunnel
EN-9 BVI Barr 0.791 0.027 65.9 2.32 0.53 3.82 2.8 Jewel Tunnel
EN-10 BVI Barr 0.217 0.007 309.2 10.9 0.25 0.4 0.24 Ridge Top
EN-11 BVI Barr 0.446 0.015 71.1 2.5 0.79 3.55 0.05 Ridge Top
EN-12 BVI Barr 0.748 0.026 136.4 4.81 1.31 11.03 0.07 Ridge Top
November
Sample# Lab Cust Au
gpt
Au
opt
Ag
gpt
Ag
opt
Cu
%
Pb
%
Zn
%
Description
EN-16 BVI Barr 1.233 0.043 79.6 2.8 0.265 1.85 0.18 NW Claim Block
EN-17 BVI Barr 7.053 0.248 770.2 27.16 1.2 16.74 0.12 NW Claim Block
EN-18 BVI Barr 3.812 0.134 326.2 11.5 0.66 11.71 0.77 NW Claim Block
EN-19 BVI Barr 1.335 0.047 41.9 1.47 0.218 3.43 0.15 Telurium Workings
EN-20 BVI Barr 0.933 0.0329 36 1.26 0.172 0.72 0.53 Telurium Workings
EN-21 BVI Barr 2.78 0.098 41.3 1.45 0.369 9.6 0.1 Telurium Workings
EN-22 BVI Barr 9.072 0.32 79 2.78 0.37 4.98 0.06 Telurium Workings
All 2016 assays performed and certified by Bureau Veritas Inspectorate of Reno, Nevada. Assay certificates on file.


Plate 1. Typical Topography of the New Enterprise Project

Table 2 - (New Enterprise) Mine 1939 sampling

Sample# Sample Width Au, Oz/t Au, g/T Ag, Oz/t Ag, g/T Cu% Cu Lbs/t Pb % Pb Lbs/t Description
1705 15 ft (4.6 m) 0.005 0.17 0.7 24.00 -- -- -- -- Outcrop in gulch
1706 4 ft (1.3 m) 0.02 0.68 1.1 37.71 -- -- 0.2 4 Open cut 100 ft to S of shaft
1707 4 ft (1.3 m) 0.005 0.17 0.08 2.74 -- -- 0.3 6 Open cut 100 ft to S of shaft
1708 3 ft (1.0 m) 0.02 0.68 2.5 85.71 0.25 5 1.0 20 Bottom of shaft at 60 ft
1709 -- 0.02 0.68 4.3 147.43 0.20 4 2.5 50 Dump material
1710 4 ft (1.3 m) 0.005 0.17 0.2 6.86 0.20 4 -- -- Face of drift on vein in X-cut #2, Jewell tunnel
1711 3 ft (1.0 m) 0.01 0.34 0.6 20.57 -- -- -- -- Roof at end of Jewell tunnel
1712 6.5 ft (2.0 m) 0.06 2.03 4.2 144.00 3.10 62 3.0 60 Bottom 8 ft of winze in Jewell tunnel
1713 2 ft (0.7 m) 0.17 5.83 10.7 366.86 0.90 18 11.2 224 Top of hill above Jewell tunnel
1714 -- 0.08 2.74 4.0 137.14 0.85 17 -- -- Sulphide ore dump, Main Shaft
1715 -- 0.01 0.34 2.8 96.00 1.80 36 -- -- Cu stained ore, most northerly cut visited N of Main Shaft

The New Enterprise claims contain several strong NW trending veins ranging from 10 inches to 14 ft. in width.

The gangue (host) mineral is mainly white to light grey massive quartz, with minor white massive calcite.


Plate 3. Ore Material from New Enterprise Project, January 2013 ***

Table 4 - January 2013 Sampling

SAMPLE Au Au Ag Ag Cu Pb Zn Description
  g/T oz/t g/t oz/t % % %  
94 0.39 0.01 141 4.55 0.02 0.15 0.42 qtz vein with minor sphalerite-galena
95 0.81 0.03 5 0.16 0.02 0.013 0.07 black mafic intrusive
96 0.003 0.01 0.78 0.01 n/a n/a n/a Metallic bead from crushed sample 95
97 0.23 0.01 5 0.16 0.06 0.14 0.53 qtz vein with 2% pyrite, minor sphalerite-galena
98 0.92 0.03 94 3.03 4.52 0.72 0.72 high chalcopyrite/malachite content from Jewell/Enterprise Mine
99 2.64 0.08 137 4.42 1.825 0.28 4.51 black sulphide rich quartz vein
100 1.45 0.05 167 5.39 2.76 0.91 6.92 same
101 0.99 0.03 65 2.10 0.32 0.69 1.47 qtz vein with pyrite, galena, sphalerite
102 6.65 0.21 371 11.97 0.19 0.66 0.58 qtz vein material with pyrite, galena

*** Note photo of sample 99, Plate 3 above

A sample of dump material was taken from a pile estimated to contain 8,000 and 10,000 tons of material. This material came from the tunneling that was carried along a vein immediately adjacent to the dump (Plate 2 below).

The sample was taken in July 2010 by the previous owner of the project. It was delivered to an independent Arizona-certified lab (see results Table 3 below).


Plate 2. Trench sample July 2010

Table 3. 2010 Trench Sample from New Enterprise Project

Sample Auoz/t Agoz/t
Dump Trench 0.210 3.06