Riley Gold Corp. announced results of its Fall 2022 exploration program for its Pipeline West/Clipper Gold Project located in Lander County, Nevada. The exploration program focused on a large soil geochemical program, extensive field mapping, and a re-interpretation of geophysics.

PWC consists of approximately 24.7 square kilometres in the heart of the Cortez District segment of the Battle Mountain – Eureka Trend and adjoins Nevada Gold Mines LLC, which is a joint venture between Barrick Gold Corp. and Newmont Corporation. Soil Survey Program: As announced on December 1, 2022, a total of 1,046 soil samples were collected at PWC and submitted to American Assay Laboratories of Sparks, Nevada for gold and multi-element geochemical analysis.

North American Exploration, of Layton, Utah conducted the 3.8 sqkm soil program. The survey was designed to expand historical soil survey coverage. Previous soil surveys contained open-ended gold-in-soil anomalies within the PWC prospective target area.

The soil program infilled areas lacking soil sampling coverage and yielded excellent results. Soil Results: Gold is strongly anomalous compared to older surveys. The results of the survey also revealed that arsenic, antimony, silver, and other pathfinder metal anomalies were not only confirmed by new sampling over older sampling grids, but revealed new, even stronger values in areas not previously sampled.

This target area has never been drilled. Geologic Mapping Supports Geophysical and Structural Interpretations as well as New Soil Results: During October 2022, Mike Ressel, PhD, conducted geologic mapping at PWC. His mapping identified several structures of similar attitudes as earlier geophysical interpretations made by Chet Lide of Zonge International, Reno, NV.

Additionally, the geological mapping provides a sound foundation for interpretation of Riley Gold's recent soil geochemical survey. The new geology map highlights the northwest trending structural zone originally interpreted from the horizontal gradient (HG) of Complete Bouguer Anomaly (CBA) gravity. Another structural corridor, this trending northeasterly, coincides with similar features first interpreted from both horizontal gradient of the CBA gravity and the first vertical derivative of the Reduced to Pole (RTP) magnetics.

Similar orientations of faults are recognized to control Carlin-type gold mineralization at the nearby Gold Acres-Pipeline mines. The gold-in-soil values (ppm) are overlain on geology. The anomalies coincide with a northwesterly structural trend from the southeast corner of the postulated target zone northwest through the center of the target area.

This structural corridor, named the Orbit structural zone, was a fluid migration pathway and may play host to structurally controlled Carlin-type gold mineralization. Another, even stronger gold-in-soils anomaly appears at structural intersections and along a lithologically controlled zone within Ordovician Valmy quartzite. The quartzite, being brittle and subject to greater fracturing, may also provide fluid migration pathways for metals rising above deeper target zones in Antler lower-plate carbonate rocks that are the primary host strata for Carlin-type deposits in northern Nevada.

Results for arsenic, antimony, and mercury show similar patterns. An additional consideration at PWC is that of silver, base metals, and bismuth anomalies related to reduced, intrusion-related gold systems. This signature dominates areas of hornfels and skarn alteration peripheral to the ~105 million year old (Ma) Gold Acres stock. By way of comparison, hornfels proximal to the Tenabo stock show similar metal associations and host 1.3 million ounces in the measured and indicated gold resources plus 1.1 million ounces in inferred gold resource at NGM's Robertson property only 4 km from PWC.

At PWC, there is a marked boundary between hornfelsed and carbon-rich rocks, based on geochemistry, aero-magnetics, and CSAMT (resistivity), as well as some older drill information. That boundary also coincides with mapped northwesterly trending structures in the Orbit structural corridor.