Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 81

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 6
Chunk 81
---
oid prospect, four holes targeted Carlin-style mineralization around structures and alteration defined by a detailed gravity survey. Three holes were completed at the Lone Mountain skarn and six holes were drilled in total at the Rip Van Winkle and Monarch prospects where breccia-hosted mineralization lies adjacent to and within bodies of quartz feldspar porphyry.

No further work was conducted on the property and it was released back to NAMMCO.

Exploration Program

Compilation and evaluation of previous exploration data by the Company indicates multiple areas with anomalous to significant gold and indicator elements in rock, soil, and drill hole samples. After negotiating an access agreement with private property owners, the Company began its exploration activities in 2023 with reconnaissance sampling and mapping followed by hiring a gravity geophysics contractor to augment existing gravity survey data. Interpretation by the Company’s geophysics consultant helped to refine areas for additional work in 2024, which included soil and rock sampling, geological mapping and additional geophysics techniques.

To follow up and expand on the historical data, the Company has completed a soil and stream sediment sampling program consisting of 2,027 soil and 122 stream sediment samples. Analytical results have been received and are being interpreted by consulting geologists. The results of these sampling programs, combined with historical results and gravity surveys conducted in 2023, will be used for gold deposit targeting.

Stockade Mountain Project, Oregon, USA

On May 16, 2022, the Company entered into a mineral lease agreement with BMR for exploration and mining rights and access to certain mineral claims on the Stockade Mountain Project situated in Malheur County, Oregon.

Project Location and Access

Stockade Mountain is located approximately 50 miles (80 kilometers) southeast of Burns, Oregon and 90 miles (145 kilometers) southwest of Boise, Idaho. The high-grade gold/silver Grassy Mountain Gold project, which is currently undergoing permitting for an underground mine and adjacent milling operation, is located in Malheur County about 40 miles (64 kilometers) northeast of Stockade Mountain.

Access to Stockade Mountain from Burns is via 29 miles (47 kilometers) of paved State Highway 78, 43 miles (69 kilometers) of good-graded county gravel roads, and about 15.5 miles (25 kilometers) of unimproved dirt roads, with a travel time of about 2.5 hours. Within the property, there are several 4-wheel drive vehicle accessible roads that enable access for exploration activities.