Gold79 Mines

Exploring Precious Metals Projects in Nevada’s Walker Lane

This Gold79 Mines profile is part of a paid investor education campaign.*


Gold79 Mines (TSXV:AUU) is a resource development company focused on gold exploration properties in Nevada and Arizona. The company owns a trio of properties located in the renowned Walker Lane gold trend, the Jefferson Canyon project, the Tip Top project and the Gold Chain project.

Nevada’s Walker Lane gold trend is home to a number of past-producing gold mines including the Comstock lode, the Denton-Rawhide mine and the Paradise Peak mine. Nevada is recognized as one of the world’s most productive gold regions and was ranked as the third-best jurisdiction in terms of investment attractiveness according to the Fraser Institute’s 2019 mining survey.

Gold79 Mines’ Jefferson Canyon gold project is an early-stage exploration project located on the north side of the Walker Lane gold trend. The project is located only nine kilometers away from Kinross Gold Corporation’s (TSX:K, NYSE:KGC) Round Mountain mine, which has produced approximately 3.1 million ounces of gold. Gold79 Mines’ Gold Chain project was home to historical exploration and production, which the company intends to expand upon with further exploration. The property hosts oxidized conditions that extend at least 100 meters below the surface, which Gold79 Mines believes could be conducive to gold recovery by leaching.

Gold79 Mines’ Tip Top gold project is comprised of 22 unpatented mining claims totaling 173 hectares. The project contains several low-sulfidation oxide gold-silver epithermal veins with low base metal contents. Two of the veins on the Tip Top project historically produced 6,900 ounces of gold, with some silver production as well. While the project has sat dormant for more than 20 years, the property has excellent road access and benefits from strong regulatory support through Nevada’s mining-friendly state government.

Facing economic uncertainty moving forward due to the COVID-19 pandemic, a number of analysts and investment companies have recognized the potential for gold investment to remain strong as a common economic hedge. For example, Hong Kong investment firm CLSA projects the commodity is expected to outperform the S&P 500 Index in 2020, according to Forbes.

Gold79 Mines’ Company Highlights

  • Gold expected to outperform the S&P 500 Index in 2020, according to Hong Kong investment firm CLSA
  • Nevada recognized as the third-most mining-friendly jurisdiction according to the 2019 Fraser Institute annual survey
  • Jefferson Canyon, Tip Top and Gold Chain projects have seen limited exploration, offering potential upside
  • Jefferson Canyon and Tip Top projects are both located inside the Walker Lane gold trend, with Gold Chain just outside the zone
  • Jefferson Canyon project is located only nine kilometers away from the Kinross Round Mountain mine, which has produced 3.1 million ounces of gold
  • Strong management team brings years of experience in mineral exploration

Gold79 Mines’ Jefferson Canyon Project

The Jefferson Canyon gold-silver project is located in Nye County in Nevada, only nine kilometers away from the Kinross Round Mountain mine, which has produced approximately 3.1 million ounces of gold. The project contains a large volcanic-hosted epithermal gold-silver system that is similar in age to the Round Mountain deposit. The gold systems found on both properties are both hosted in felsic ash-flow tufts and contain a strong northwest-trending structural control to veins.


The Jefferson Canyon property hosts a historical database that has been passed down from several exploration companies based on exploration campaigns conducted between 1969 and 1986. This era of exploration included 134 drill holes totaling 17,979 meters, the majority of which were cut using reverse circulation drilling. Geographical studies have since been conducted on the property, revealing strong alteration within the intra-volcanic package. Because the exploration work conducted on the Jefferson Canyon property was before the establishment of the NI-43 101 standards, additional exploration will be necessary in order to define a mineral resource.

Gold79 Mines’ Tip Top Project

The Tip Top gold project is located in the Walker Lane gold trend, in Esmerelda Country, Nevada approximately five miles south of Montgomery Pass. The project is home to several low-sulfidation oxide gold-silver epithermal veins with low base metal contents.

Two of the veins found on the Tip Top project have historically produced a total of 6,900 ounces of gold and some silver. Since 1980, the property has been drilled by five companies, with a total of 143 drill holes cut for over 24,000 feet.

Historical exploration has been conducted on the Tip Top project, including:

  • Hole TTD-02 returned 2.44 meters of 19.82 g/t gold from 20.20 meters depth;
  • Hole TTD-04 returned 2.59 meters of 7.89 g/t gold from 32.00 meters depth;
  • Hole T98-12 returned 4.57 meters of 16.31 g/t gold from 28.97 meters depth,
  • Hole T98-14 returned 9.14 meters of 14.42 g/t gold from 21.34 meters depth.

The historical drilling conducted at the Tip Top gold vein, especially exploration conducted near the Top Top adit, has identified gold-bearing veins that have shown the potential to expand the known mineralization along strike and to depth. There is not currently enough confidence in the historical data to support resource modeling, however, the company believes there is significant exploration potential along the Tip Top vein system and parallel veins.

Gold79 Mines’ Gold Chain Project

The Gold Chain projected is located in Mohave County, Arizona near the Nevada border. The project is comprised of 100 mining claims where work has been conducted by previous operators, indicating the potential for gold mineralization across the project area. The Gold Chain project is home to several mineralized exposures over five kilometers, including epithermal-style gold mineralization. Limited mining was conducted on the property in the 1940s, with companies continuing to explore the property in the 1980s.

Historical records indicate that drilling identified oxidized conditions extending to at least 100 meters below the surface, which Gold79 Mines believes could be conducive to gold recovery by leaching.

Past drill intercepts at the Gold Chain project include:

Gold Chain Zone

  • DH 80263 59.7m @ 0.283 g/t gold
  • DH 80267 18.4m @ 1.42 g/t gold
  • DH 80272 16.8m @ 0.51 g/t gold

Black Dyke Zone

  • DH RSM-2 23m @ 0.71 g/t gold
  • DH RSM-3 16.8m @ 0.91 g/t gold
  • DH RSM-15 19.9m @ 0.65 g/t gold

Roadside Zone

  • DH RSM-1b 27.6m @ 0.82 g/t gold
  • DH AT-15a 9.2m @ 2.24 g/t gold
  • DH RM88-8 39.8m @ 0.65 g/t gold

Moving forward, Gold79 Mines intends to continue exploration on the Gold Chain property while working towards a potential Preliminary Economic Assessment (PEA) compliant with NI 43-101 standards.

Gold79 Mines Management Team

Gary R. Thompson—Chairman

Gar R. Thompson is the founder of Territory Metals as well as the founder, CEO and chairman of Brixton Metals Corporation (TSXV:BBB). He is the former CEO of Sierra Geothermal Power Corp, which was sold to Ram Power in 2010. He has 27 years of experience in resources and capital markets.

Robert Johansing, M.Sc.—Chief Executive Officer

Robert Johansing has 40 years of experience in mining and mineral development. He has worked as PM and President of Kinross El Salvador, S.A. de C.V. and worked as a consultant in exploration and mining projects in Central and S. America.

John McNeice, CA, CPA—CFO & Corporate Secretary

John McNeice operated as the CFO of Ur-Energy Inc. from 2004 to 2007. He has also worked as CFO of Carube Copper Corp. and Northern Graphite Corp. during his career. He currently acts as a financial consultant to emerging private and publicly traded junior mining companies.

James M. Franklin, PhD, FRSC, P.Geo.—Director

James has 40 years of geology experience, including time operating as Director of Ur-Energy Inc and Nuinsco Resources Ltd. During his career, he has also served as the President of the Geological Association of Canada and of the Society of Economic Geologists.

W. William Boberg, M.Sc., P.Geo.—Director

W. William Boberg is the Director of Ur-Energy Inc. and served as Ur-Energy’s President and CEO from 2006 to July 2011. Boberg has 35 years of experience investigating, assessing and developing mineral resources. Throughout his career, Boberg has worked with resource companies including Gulf Minerals, Hecla Mining, Anaconda, Continental Oil Minerals Department, World Nuclear, Kennecott, Western Mining.

Disclaimer: This profile is sponsored by Gold79 Mines (TSXV:AUU). This profile provides information which was sourced by the Investing News Network (INN) and approved by Gold79 Mines, in order to help investors learn more about the company. Gold79 Mines is a client of INN. The company’s campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services, or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Gold79 Mines and seek advice from a qualified investment advisor.