Kris Project (CA)

Overview

Location, Access and Description

The Kris Prospect is a zone of gold mineralization in the upper plate of the Grizzly Mountains Thrust that stretches ten miles from Canyon Dam, California, on the northwest to Crescent Mills, California, on the southeast. The project is entirely within Plumas County, California.

The Kris Prospect is located 109 road miles northwest of Reno, Nevada, in Plumas County, California.  Reno is a major center for mining-related activity in the United States and there are many assay labs, metallurgical labs, service providers, drilling contractors, and mineral industry consultants in the Greater Reno area.

Nearer the Kris Prospect there are restaurants, motels, a lumber yard, hardware outlets, and auto parts stores located in Chester, California, about 15 miles from the project.

The prospect is accessed by numerous, well-maintained Forest Service roads and a maze of lesser quality logging and mineral exploration drill roads. There is a rail siding on the Western Pacific Railroad less than two miles from the property. There is a very adequate supply of water for mining operations and high voltage power lines are within two miles of the property. Logging is the main industry of the area and there are many truck drivers and equipment operators in the local community.

The prospect is on forested land at an elevation of 4,500-5,500 feet. Winter snowfalls can be significant, but mining operations can be maintained throughout the winter.

Past Production and History

There are at least ten historical mines along the ten-mile mineral belt which hosts the Kris Prospect that have each produced from 10,000 to 100,000 ounces of gold, as well as numerous smaller mines and prospects. Total production from this mineral trend, according to estimates presented in the California Division of Mines and Geology Bulletin #193, was more than 250,000 ounces of gold. Most of this production occurred during the period from 1860-1900. There was also significant mining activity from 1931-1942. Virtually all the historic production before WWII was by underground methods.

Historic mining has occurred on both claim blocks beginning in the late 19th century. Kris was mined using modern open pit methods beginning in 1984, and 56,250 oz of gold was recovered from 885,209 tons of rock through heap leaching. In 2022, the Company drilled 3 diamond exploration holes, all from one pad, down dip on the thrust fault from the top of the open pit with excellent results. All three holes encountered mineralization, with 10’ at a grade of 15.2 g/t Au, 10’ at a grade of 15.8 g/t Au, and 15’ at a grade of 8.43 g/t Au respectively.

Exploration Plans for 2024

Past exploration, development, and production on the property has identified several ore bodies and targets for future exploration. Potential for additional mineralization is very good, as known veins and ore bodies appear to be open for expansion in all directions. Drill targets for future potential gold mineralization expansion are apparent, and one permitted drill pad is available for an immediate drill program. Snow levels in this area typically are clear by early June, and the area stays open for drilling activity until mid-November.

Land Status

The Company has signed a Memorandum of Understanding with Magellan Gold to enter a Joint Venture. Gold Express Mines, Inc., has entered into a lease with option to purchase agreement for the Kris Project with Robert Wetzel, a California-based geologist who staked the claims comprising the project.