Bitterroot Resources Stakes the Nighthawk Gold Property in Nevada's Walker Lane Trend

Rhea-AI Summary

Bitterroot Resources Ltd. has staked the 163-claim Nighthawk Gold Property in Nevada’s central Walker Lane gold belt, which is promising for near-surface oxide gold mineralization. Covering five square miles, the property is positioned near the Berg deposit and highlights minimal prior exploration. Recent prospecting revealed mineralized float boulders with grades up to 10.8 g Au/t, while a drone aeromagnetic survey has identified significant geological features. The management believes the property is suitable for low-cost open pit mining and heap leach recovery methods.

Positive

• Nighthawk Gold Property staked with 163 claims, indicating potential for gold resources.
• Proximity to the Berg deposit, enhancing exploration prospects.
• Recent sampling identified mineralized float boulders with grades up to 10.8 g Au/t.
• Geophysical survey revealed significant structural zones favorable for gold deposits.
• Management believes in the potential for low-cost open pit mining and heap leach recovery.

Negative

• Minimal exploration history raises concerns about the extent of mineralization.
• No known drill holes indicate a lack of preliminary data on depth and resource viability.

VANCOUVER, BC / ACCESSWIRE / March 22, 2023 / Bitterroot Resources Ltd. (TSXV:BTT) has staked the 163-claim Nighthawk Gold Property in the central Walker Lane gold belt in Esmeralda County, Nevada. The Nighthawk Gold Property is prospective for near-surface, open pit/heap leach-recoverable oxide gold mineralization.

The 100%-owned Nighthawk Property covers approximately five square miles of underexplored pediment on BLM-administered Federal land at the south end of the Gilbert Mining District, 25 miles west of Tonopah, NV. The claims host isolated outcrops surrounded by areas of thin (typically 0-50 metres thick) alluvial material covering the targeted Miocene volcanic stratigraphy. Prospecting and rock sampling in late 2022 identified several areas hosting mineralized float boulders grading between trace and 10.8 g Au/t. In January 2023, the Company's geophysical contractor flew a 725 line-kilometre drone aeromagnetic survey which identified several covered multi-kilometre-long linear structural zones and confirmed that an outcropping rhyolite dome coincides with a large magnetic low. Similar structures and rhyolite domes control mineralization on the adjacent Castle/Boss/Berg oxide gold deposits. * The eastern edge of the Nighthawk claims is less than 300 metres from the Berg deposit.

The Castle/Boss/Berg oxide gold deposits collectively host NI 43-101-compliant Inferred Resources of 20 million tonnes grading 0.49 g Au/t.** The Castle/Boss/Berg deposits are laterally extensive gold deposits, with higher grade gold mineralization reported where vertical faults are present. * The eastern edge of the Nighthawk claims is less than 300 metres from the Berg deposit. Based on Bitterroot's geological mapping, sampling and aeromagnetic survey, these features are also found on the Nighthawk Property.

The Nighthawk Property has seen minimal exploration since the discovery and development of the adjoining Castle/Boss/Berg gold deposits in the 1970's, 80's and 90's. BLM records indicate very few claims have been previously recorded in the area and there are no known drill holes. The property has low relief and is at moderate elevation, remaining accessible by paved highway and gravel roads year-round.

Bitterroot's management believes that the Nighthawk Property has the potential to host large, near-surface oxide gold deposits amenable to low-cost open pit mining and heap leach precious metals recovery methods in a top-ranked mining jurisdiction. Management and its technical consultants are currently developing plans for ongoing exploration.

Mr. Robert (Rick) Streiff, CPG, is the Qualified Person responsible for the technical content of this disclosure.

*Source: Diner and Strachan, 1994, Geology of the Boss Mining Area, Gilbert District, Esmeralda County, Nevada: Economic Geology, Vol 89, pp 1176-1182.

**Source: Mine Development Associates, July 30, 2021 "Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Property, Esmeralda County, Nevada for Allegiant Gold Ltd.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael S. Carr
Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws. For such forward-looking statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

CONTACT:
Michael Carr, CEO and Director
Tel: 604 922 1351
Email: infoman@bitterrootresources.com

SOURCE: Bitterroot Resources Ltd.

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FAQ

What is the Nighthawk Gold Property staked by Bitterroot Resources?

The Nighthawk Gold Property consists of 163 claims in Nevada's Walker Lane gold belt, focusing on near-surface oxide gold mineralization.

What grades of gold were found in the Nighthawk Property's sampling?

Sampling revealed mineralized float boulders with grades from trace to 10.8 g Au/t.

How does the Nighthawk Property relate to the Berg deposit?

The eastern edge of the Nighthawk claims is located less than 300 meters from the Berg deposit.

What future plans does Bitterroot have for the Nighthawk Gold Property?

Management is developing plans for ongoing exploration to assess the property’s resource potential.

What recent geological surveys were conducted on the Nighthawk Property?

A 725 line-kilometre drone aeromagnetic survey was conducted to identify structural zones.