Through it’s 100% owned subsidiary, Zephyr Gold USA Ltd., the Company holds a 100% interest in mineral claims in Colorado, USA, collectively referred to as the Dawson-Green Mountain property (the “Property”). The Property has encompasses a mineralized trend that is 12.2 km (7.5mi) in length consisting of three sections. The Dawson section (“Dawson”), located at the eastern end of the Property comprises an advanced gold project with exploration potential. The Green Mountain section (“Green Mountain”), located at the western end of the Project, is prospective for copper and gold. The El Plomo section (“El Plomo”) forms the central portion of the Property and is believed to be prospective for Broken Hill Type (“BHT”) silver-lead-zinc mineralization.
In 2019 an airborne geophysical survey (magnetic and electromagnetic) was completed over the Property including the 3.2 km (2.0 mi) long El Plomo Section; the principal target of the survey. The survey successfully delineated an 2.4 km (1.5 mi) long magnetic anomaly immediately south of, and paralleling the mineralized trend. This is an important development as it further confirmed the prospectivity of the El Plomo Section for BHT, silver-lead-zinc mineralization (news release Sept. 10, 2019). Since then, 3D inversion modelling has been completed and indicates the presence of magnetite and pyrrhotite associated with high grade zinc, lead and silver mineralization is directly associated with increased magnetic susceptibilities.
In August 2020, the Company commenced a drill program to test these high priority targets.