COEUR D'ALENE, ID / ACCESSWIRE / January 16, 2020 / Timberline Resources Corporation (OTCQB:TLR)(TSXV:TBR) ('Timberline' or the 'Company') announced that its first two drill holes at the Paiute project in the Battle Mountain district of Nevada intercepted long intervals of disseminated gold mineralization in granodiorite porphyry and contact metamorphosed sandstone (Figure 1, Table 1). Both reverse circulation (RC) holes were terminated in mineralized, hard, silicified rock because of limitations of the drill rig. Timberline owns approximately 78% of the Paiute project in a Joint Venture ('JV') with Nevada Gold Mines, LLC.

Highlights:

PCRC 19-01 intercepted 125 feet (ft) (38 meters (m)) grading 0.36 g/t Au with associated pyrrhotite-pyrite-arsenopyrite in silicified, metamorphosed arkosic sandstone.

PCRC 19-02 intercepted multiple zones of gold mineralization in granodiorite porphyry and metamorphosed arkosic sandstone, including 40 ft (12 m) of 0.61 g/t , 80 ft (24 m) of 0.51, 25 ft (8 m) of 1.12 g/t, and 25 ft (8 m) of 0.48 g/t over its 710 feet (216 m) length and bottomed in mineralization.

Timberline's President and CEO, Steve Osterberg commented, 'Our initial drilling at Paiute confirms the presence of a large, near-surface gold system. The target zones remain largely untested by drilling, and historical drilling (Table 2) intercepted significant gold at shallow (<500 ft; 150 m) depths, with several holes ending in gold mineralization.'

EXPLORATION TARGETS

Gold-Silver Structural Zone Target: PCRC 19-01 bottomed in 160 ft (49 m) of silicified granodiorite porphyry with geochemical characteristics similar to that of PCRC19-02. The previously identified 2 km-long gold 'Lone Tree-type' structural zone remains largely untested. The structural zone includes surface rock chip samples (see Figure 1 and Table 3) which previously returned multiple values greater than 1.0 gram per tonne ('g/t') of gold including two samples over 10 g/t gold and one sample with 42.9 g/t gold and 527 g/t silver (Table 3) (see press release dated May 24, 2018 @ http://timberlineresources.co/press-releases).

Gold Porphyry Target: PCRC 19-02 twinned and deepened historical hole ICBM-95-06, which intercepted porphyry-style gold mineralization in highly silica-altered, sulfide-poor (trace - 1% pyrite) granodiorite porphyry, and remains opened to depth The mineralization in PCRC 19-02 expands on multiple intercepts in nearby historic holes (Figure 2 and Table 2).

EXPLORATION PLANS:

The Paiute project has the potential for bulk-mineable, open-pit gold mineralization based on the thicknesses and grades drilled to date. The Company is acquiring historical IP/Resistivity, and magnetic survey data to guide future drilling of the largely untested structural zone and porphyry targets.

Figure 1. Paiute Project Geology and Primary Target Areas

Table 1. 2019 Drill Hole Assay Results

Figure 2. Paiute Project Granodiorite-Porphyry Hosted Gold Target Cross-Section

Table 2. Summary of Historic Porphyry Hosted Drilling Gold Assay Results

Drill Hole	From (feet)	To (feet)	Total (feet)	From (meters)	To (meters)	Total (meters)	Au (g/t)
ICBM 95-1	260	295	35	79.2	89.9	10.7	0.831
	320	350	30	97.5	106.7	9.1	0.552
	385	460	75	117.3	140.2	22.9	0.462
ICBM 96-3	45	65		13.7	19.8	6.1	0.431
	345	370	25	105.2	112.8	7.6	0.497
	405	415	10	123.4	126.5	3.0	1.000
Share article: Shares Share Tweet Share Flip Email Watch latest videos Subscribe and Follow Get a daily dose of Los Angeles Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well. Subscribe Now News RELEASES Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Los Angeles Herald. More Information null in null International Section Turkey, France battle wildfires amid early Europe heatwave ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued... Venetians protest Bezos wedding with march through the town VENICE, Italy: Over the weekend, hundreds of protesters marched through the narrow streets of Venice to voice their opposition to billionaire... New French law targets smoking near schools, public spaces PARIS, France: France is taking stronger steps to reduce smoking. A new health rule announced on Saturday will soon ban smoking in... Trump hints at DOGE investigation of Musk subsidies WASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without... Native leaders, activists oppose detention site on Florida wetlands EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered... Beijing crowds cheer AI-powered robots over real soccer players BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not... California Section Trump hints at DOGE investigation of Musk subsidies WASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without... Nvidia execs sell $1 billion in stock as AI boom drives record prices SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial... Lululemon accuses Costco of selling knockoff apparel Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its... Fox faces $787 million lawsuit from Newsom over Trump phone call DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting... DIY weight-loss drug trend surges amid high prices, low access SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally.... Apple allows outside payment links under EU pressure SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing... Movie Review The Red Shoes (4K UHD) [Blu-Ray]