Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 79

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 6
Chunk 79
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 Zn) in the rocks and soils. This district-scale alteration zonation is typical of the Carlin-type districts in Nevada.

Exploration History

Some of the historical exploration activities disclosed below were conducted on adjacent or inlier properties not controlled by the Company. All historical data was provided by NAMMCO under the mineral lease and option agreement.

Historical production began in 1939 at the Rip Van Winkle Mine in the northwestern part of the property from hydrothermal veins, replacements and breccia deposits containing lead, zinc, silver and small quantities of gold. Operations ceased in 1949 after producing a recorded total of 538,823 ounces silver (16.8 tonnes), 4,028,512 pounds lead (1,827 tonnes), and 3,140,387 pounds zinc (1,424.5 tonnes).

Modern gold exploration began in 1965 around the time of the original Carlin discovery when Newmont drilled several shallow holes into gold bearing jasperoids on the north flank of Lone Mountain. Beginning in the 1960s the Lone Mountain property position was assembled by Kirkwood and Huber (principals of NAMMCO) and then leased to several mining companies over the years. A summary of exploration companies and their targets from the 1960s to 2006 is as follows:

  1960s – Newmont Exploration Ltd.       North and South Jasperoid               
  1977-1980 – Freeport-McMoRan           Carlin Type (South Jasperoid)           
  1984-1985 – EXXON                      Sedex Type (Rip Van Winkle-base metal)  
  1987-1988 – Inspiration                Skarn Target (Lone Wolf Hill)           
  1989-1990 – Tenneco                    Skarn Target (Includes Lone Wolf Hill)  
  1992-1993 – Newmont (second time)      Carlin Type Target                      
  1995 – Cordex                          Skarn Panel/Monarch zone                
  1997 – Tri Origin (Homestake)          Carlin Type Target (South Jasperoid     
  1999 – Kennecott                       Carlin Type (Monarch Zone)              
 ─────────────────────────────────────────────────────────────────────────────────

Companies prior to 2006 for the most part focused exploration on small target areas and conducted surface mapping, soil and rock sampling, geophysical surveys (magnetic, gravity and IP), and drilling. Records indicate