Nelson Resources (ASX:NES) delineates high-grade gold–silver continuity at the Gold Point Project, Nevada

Nelson Resources Executive Director Louis Bucci outlines the geological significance and exploration implications of the recently reported high-grade gold and silver rock chip results from the Gold Point Project in Nevada, where reconnaissance surface and underground sampling has confirmed the presence of laterally extensive, structurally controlled quartz vein systems carrying elevated precious-metal grades, with demonstrated continuity across multiple historical mining centres and newly tested western and southern extensions.

What do the recent rock chip assays indicate regarding grade distribution and metal tenor across the Gold Point vein systems?

The reconnaissance program returned consistently high gold and silver grades from multiple structurally controlled quartz vein positions across the Gold Point Project, confirming that elevated metal tenor is not restricted to isolated historical stopes but is developed across a broader network of mineralised structures.

Surface sampling from veins west and south of the Grand Central and Great Western Mines delivered peak values of 32.2 g/t Au, 31.7 g/t Au, 18.6 g/t Au and 12.25 g/t Au, while associated silver grades locally exceeded 100 g/t Ag, including values of 244 g/t Ag from surface veins and up to 574 g/t Ag from underground grab samples collected within the Orleans workings.

“Peak gold grades above 30 g/t Au and silver values up to 574 g/t Ag from both surface and underground positions demonstrate that high-grade precious-metal tenor is developed across multiple vein sets rather than being confined to isolated remnant stopes.”

In total, 42 rock chip samples were collected, with 35 results returned to date, of which 20 exceeded 2 g/t Au, representing 47% of the dataset and demonstrating that high-grade mineralisation is widely distributed rather than limited to a small number of historical workings.

How do the results support continuity and strike extent of the Gold Point vein systems?

The results confirm that the dominant WNW-striking gold–silver vein corridor extends for at least 2 km along strike, potentially linking the historical Orleans, Great Western and Grand Central mining centres with newly tested western extensions toward the Cook Mine area, and demonstrating that mineralisation persists well beyond the limits of previously prioritised mine zones.

“High-grade mineralisation has now been confirmed over a strike length of at least 2 km, extending from newly tested western outcrop zones near the Cook Mine, through the Grand Central and Great Western mines and out tothe Orleans workings .”

Importantly, the high-grade assays of 6.93 g/t Au and 5.1 g/t Au returned from veins in very limited outcrop west of the Cook Mine, indicate that the mineralised system continues beneath areas of shallow sheet-wash and alluvial cover – an area that was historically considered a low priority.

In parallel, the identification of N-striking quartz veins carrying grades of 4.84 g/t Au and 427 g/t Ag, located approximately 700 m along strike from historically sampled gold-rich structures with the same geometry near the Dunfee shaft, confirms the presence of a second mineralised structural orientation.

This trend has seen limited historical testing, with recent sampling demonstrating good continuity, and reinforcing the interpretation of a laterally extensive and structurally complex vein network.

What is the geological setting and style of mineralisation confirmed by the program?

Gold and silver mineralisation is hosted within Neoproterozoic metasedimentary rocks of the Wyman Formation and is developed predominantly within fault-controlled quartz vein systems of a possible epithermal affinity.

These veins historically supported reported production of approximately 75,000 oz Au at grades of 20 to 30 g/t Au from a limited number of high-grade structures.

Recent sampling confirms that these same WNW-striking structural corridors continue to host high-grade gold–silver mineralisation, while the recognition of north-striking quartz veins introduces a secondary structural regime that expands the overall mineralised footprint.

“Two principal vein orientations are now recognised, comprising the dominant WNW-striking high-grade gold–silver system and a secondary N-striking set of gold-rich quartz veins, both contributing to the scale and complexity of the mineralised footprint at Gold Point.”

In addition, geological observations and sampling have identified proximity to felsic intrusive rocks associated with copper–molybdenum mineralisation and calc-silicate skarn development, indicating that the project hosts multiple mineralisation styles within a single consolidated land package.

How were the samples collected and what level of confidence can be placed in the analytical results?

Rock chip and grab samples were collected from surface outcrop, quartz veins, fault zones, and accessible underground workings, with individual samples typically weighing between 0.5 kg and 1 kg, and underground samples taken directly from the backs and ribs of historical workings at Orleans.

All sampling locations were recorded using GPS in the NAD83 Zone 11 grid, providing positional accuracy appropriate for reconnaissance-stage exploration and ensuring that the spatial distribution of results can be reliably integrated into subsequent geological and structural models.

Sample preparation and analysis were undertaken by ALS Minerals in Reno, with gold determined by 50 g fire assay with atomic-absorption finish, and silver and base metals analysed by multi-element ICP and ICP-MS following total digestion.

“Gold was analysed by 50 g fire assay and silver by multi-element ICP and ICP-MS methods at ALS Minerals, providing industry-standard analytical quality for quartz-vein-hosted gold–silver systems and supporting confidence in the reported grade distribution.”

While the program was reconnaissance in nature and did not include the insertion of field duplicates or standards, the use of established laboratory procedures and analytical techniques provides confidence that the results are suitable for validating historical mineralisation and guiding the next phase of systematic target definition.

What work programs are planned to advance the project toward drill testing?

The next phase of work is focused on defining the geometry, continuity and structural controls of mineralisation across the Orleans, Great Western, Grand Central and Cook Mine corridors in preparation for maiden drilling, with an emphasis on integrating surface and underground datasets into a coherent three-dimensional geological framework.

Planned underground programs include multi-spectral and LiDAR surveys to generate detailed structural and lithological models, systematic channel sampling and multi-element geochemistry to characterise grade distribution and alteration patterns, and appropriate geophysical surveys to trace mineralised structures down-dip and along strike.

“Underground LiDAR, systematic channel sampling, multi-element geochemistry and geophysics are planned to build a mine-scale three-dimensional structural and lithogeochemical model to refine priority drill targets.”

At the broader claim-package scale, surface geological and structural mapping, additional rock-chip geochemistry and ground geophysical surveys will be undertaken to infill historic datasets and refine priority targets, with all information to be integrated to support drill positioning from both surface and potential underground platforms.

Discussions have commenced with preferred drilling contractors in preparation for the first drilling campaign.

Pathway to Drill Definition at Gold Point

For Nelson Resources the confirmed 2 km strike continuity of high-grade WNW-trending gold–silver veins, together with the identification of a secondary north-striking vein set and the recognition of broader magmatic-hydrothermal styles of mineralisation, establishes a technically robust foundation for the transition from reconnaissance validation to systematic target definition.

With underground access available at Orleans and Great Western, and high-grade Au mineralisation confirmed in exposures surrounded by shallow cover west of the Cook Mine corridor, the planned integration of detailed structural mapping, geochemistry, and geophysical datasets is expected to deliver better-refined priority drill targets within a three-dimensional geological framework.

This work will strongly position the Gold Point Project to progress into drill testing, where the clear focus will be on establishing structural and grade continuity, and scalability of the broader consolidated vein systems.

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