EMX holds a 4% NSR royalty on the Brooks Property. Brooks is a sedimentary rock-hosted disseminated gold deposit considered to be part of the Lone Tree Operation, which was purchased from Nevada Gold Mines in 2021 by i-80 Gold Corp. (TSX-V: IAU; “i-80”). The Brooks deposit is approximately 5 km southwest of Lone Tree Mine. The supergene zone at Brooks was mined from 2016 to 2018, with published Probable & Proven Reserves* of 30,000 oz Au at an average grade of 0.27 g/t Au. However, production data indicates approximately 52,000 oz Au** were produced in total.
Structure and stratigraphy provide the primary controls on mineralization. Gold is concentrated in a northeast-striking fault that cuts the deposit and along the hanging wall of a dike, within argillized, decalcified, and chloritized greenstones. The highest gold grades at Brooks are associated with intense bleaching, silicification, quartz veining, and the presence of Fe-oxides.
*The above reserve data was taken from the Newmont news release dated February 21, 2019 (“Newmont Reports 2018 Reserves and Resources”) and refers to the Lone Tree Operation, of which Brooks was the sole active mining asset in 2018. EMX has not done sufficient work to classify the reserve as compliant with NI 43-101 regulation. However, EMX believes these results to be reliable and relevant.
**The above production data was from “Technical Report on the Mineral Resource Estimates for the Lone Tree Deposit, Nevada”. Effective date: July 30, 2021. QP: Abani R. Samal, P.Geo.
Location of the Brooks project (red outline) with respect to the Lone Tree Operation (Yellow outline) (Source: i-80 Technical Report NI 43-101, January 2022). The nearby mines provide geologic context for EMX’s Project, but this is not necessarily indicative that the Project hosts similar tonnages or grades of mineralization.