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Gunpoint owns the Talapoosa gold-silver project located in the Walker Lane gold trend in western Nevada. Talpoosa has a N1-43-101 Measured and Indicated Resource containing over 1.1 million ounces of gold and 15 million ounces of silver at an average grade of 1.1 g/t gold and 15 g/t silver. The deposit remains open along strike to the northwest and southeast.
In 2015, a Preliminary Economic Assessment (PEA) using conservative metal prices returned robust project economics. The PEA indicated an after-tax net present value of US$136 million and 39% IRR with gold at US$1,150 and silver at US$16 per ounce.
District scale upside exploration exists on Appaloosa, an untested subparallel 7 kilometer mineralized structural zone located 1 kilometer northeast of Talapoosa. Appaloosa hosts a broad and extensive hydrothermal system of high level epithermal gold mineralization. Newcrest Resources can earn up to a 75% interest in Appaloosa for cash payments totaling US$5 million, incurring US$35 million in exploration expenditures and delineating a minimum indicated gold resource of 1.0 million ounces.
