Riley Gold Corp. announced the discovery of new targets that exhibit intense epithermal alteration, stockwork, and veins at surface that along with geophysical signatures suggests hydrothermally altered zones and target horizons at relatively shallow depths. These new prospective areas of low sulfidation epithermal mineralization are in the southern portion of its Tokop Gold Project, located in Esmeralda County, Nevada.

On March 28, 2022, Riley Gold announced a significant increase to its Tokop land package (at Tokop South) which now consists of more than 31 square kilometres within Nevada's prolific Walker Lane Trend. The claims were staked based on the interpretation and results of the exploration activity conducted at Tokop South. Geophysical Surveys and Vein Mineralization at Tokop South: The three prospect areas (Ghost, Diamondback, and Desert Bloom) within Tokop South exhibit locally intense epithermal alteration, stockwork, and veins at surface.

This, combined with geophysical signatures suggests hydrothermally altered zones and target horizons at relatively shallow depths. Rock sampling has yielded assays of more than 1.3 gram per tonne (“gpt”) gold. Soil sampling has revealed anomalous gold and epithermal pathfinder trends.

Portions of this area host several old prospects, shafts, and adits. The collective, multi-layered data defined these new targets and provided the basis for increasing the land package size at Tokop South. Gravity and ground magnetic susceptibility surveys played an important role in Riley Gold expanding its claim block at Tokop South.

Gravity generally indicates (by the warm colors) that large areas of potential host rocks p? Wyman Formation carbonate rocks underlie a thin veneer of pediment. One sample collected from a prospect pit in the Wyman yielded 1.34 gpt gold and 47.2 gpt silve. Otherwise, cool colors can indicate areas of lower-density rocks, including alluvium, or at Tokop South, often volcanics of the Ammonia Tanks Tuff.

Many of the epithermal veins occur in the tuffs, in similar style to those at the Bullfrog Mine. One sample cut from chalcedonic to opaline vein material ran 1.08 gpt gold and 8.97 gpt silver; another yielded 1.02 gpt gold and 8.32 gpt silver from another epithermal vein nearly 1 kilometre away. These grades are analogous to those found at the Bullfrog and Montgomery-Shoshone mines in chalcedonic-opaline stockwork zonesi.

The veins represent silica-rich fluids moving up structures and fractures along faults and other contacts. They are often devoid of gold and other pathfinder elements. These veins usually occur above boiling zones where gold may have been deposited.

The depth to potential gold mineralization can vary from a few meters (“m”) to 200 m or more. Reverse circulation drilling at Tokop South (Ghost prospect) was detailed in an internal report for High Frontier Resourcesii in 1990. One hole near such a vein encountered 12.2 m of 0.96 gpt gold from surface.

Subdued magnetic response (cool colors), Reduced to Pole (RTP) Total Magnetic Intensity (TMI) underscores the fact that the felsic intrusives of the Sylvania Stock, here Jurassic-Cretaceous quartz monzonite, (JKqm) are reduced, along the southwestern side of the new claim block. Other areas near the Tokop South (Diamondback prospect) area show higher magnetic response (warm colors), suggesting a buried intermediate intrusive. Such intermediate intrusives may play a key role in providing the heat and possibly mineralizing fluids to the system.

However, this hypothesis is not yet supported by accurate age dating and more detailed geochemical and petrographic analyses.