The 98-sq. km Red Hill property, located in the heart of Nevada's prolific Cortez Trend between Barrick Gold's multi-million ounce Goldrush deposit immediately to the north and US Gold's Tonkin Springs operation to the south,ii is the largest independently owned land package in the trend, second only to Barrick Gold’s adjacent holdings which host one of the largest gold endowments in the world!
Nevada is rankedi as one of the most geologically, environmentally and regulatorily favourable regimes with excellent infrastructure, logistical capability and political stability. It has the largest concentration of 'Carlin-type' geology in the world. This mineral-rich geology and a favorable regulatory climate for mining have combined to make Nevada the fifth largest producer of gold in the world, providing 80% of the US' production.
It has produced over 220 million ounces of gold with remaining reserves of more than 70 million ounces predominantly from its numerous 20+ million ounce Carlin-type deposits. The two largest gold producers in the world, Barrick Gold and Newmont, source substantial portions of their production from the state.
i The Fraser Institute is a well-known fiscally conservative think tank based in Canada that espouses free market principles.
ii The close proximity of the Iceberg Project to the Goldrush deposit and Tonkin Springs operation is not necessarily indicative of the gold mineralization in the Iceberg Project. To date, there are no known NI 43-101 compliant mineral resources or reserves on the Iceberg Project.