Gunman Property

Site Name

Primary: Gunman Property
Secondary: RH Zone
Secondary: RH South Zone

---

Commodity

Primary: Zinc
Primary: Silver

---

Location

State: Nevada
County: White Pine
District: Diamond Range (no district)

---

Land Status

Land ownership: BLM Administrative Area
Note: the land ownership field only identifies whether the area the mine is in is generally on public lands like Forest Service or BLM land, or if it is in an area that is generally private property. It does not definitively identify property status, nor does it indicate claim status or whether an area is open to prospecting. Always respect private property.
Administrative Organization: Ely BLM District

---

Holdings

Not available

---

Workings

Not available

---

Ownership

Owner Name: Cypress Development Corp.
Info Year: 2004

Owner Name: Bison Gold Exploration Inc. in the 2,400 acres Gunman Zinc-Silver Project (2006)
Percent: 26.87
Info Year: 2006

Owner Name: Cypress Development Corp. in the 2,400 acres Gunman Zinc-Silver Project
Percent: 73.13
Info Year: 2006

---

Production

Not available

---

Deposit

Record Type: Site
Operation Category: Prospect
Deposit Type: stratabound (?) replacement
Operation Type: Surface
Discovery Year: 2000
Years of Production:
Organization:
Significant: Y
Deposit Size: S

---

Physiography

Not available

---

Mineral Deposit Model

Model Name: Polymetallic replacement

---

Orebody

Form: tabular to blanket

---

Structure

Type: R
Description: The regionally extensive, north-trending Phillipsburg fault is a Cenozoic normal fault that dips about 45 degrees west and extends for at least 40 km along the west flank of the Diamond Mountains.

Type: L
Description: Proximity to strong north trending faults appears to be a controlling factor on grade distribution.

---

Alterations

Alteration Type: L
Alteration Text: The deposit is intensely oxidized.

---

Rocks

Name: Limestone
Role: Host
Description: carbonaceous
Age Type: Host Rock
Age Young: Early Permian

---

Analytical Data

Not available

---

Materials

Ore: Smithsonite
Gangue: Calcite

---

Comments

Comment (Development): WMC drilled the property in 1990-1991. In May 2000, Mid-North and Cypress Development Corp. completed a 3,025 ft drill program at the Gunman property. Selected results include hole GM-01 grading 4.91% zinc and 32.86 g/t Ag over 100 ft and hole GM-02 grading 3.54% zinc and 5.7 g/t silver over 165 ft. In November of that year, Cypress reported assays from reverse circulation holes drilled in the RH Zone of its Gunman property in Nevada. The highest grade reported occurs in hole GM-26 between 85 and 95 feet depths where 19.08 % Zn and 90.5 g/t Ag were intersected.At that time 8900 feet of a planned 15,000 feet for Phase III had been drilled. In 2002, Cypress Development announced a formal joint venture agreement with Mid-North Resources for the Gunman property in which Cypress will be the operator with a 70% interest and Mid-North holding the remaining 30% interest in the property. Mapping and drilling was ongoing in early 2004 on the property. At that time (June 2004) , Cypress had completed 5,500 feet of reverse circulation drilling that include 19 R-C drill holes that step out approximately 2,000 feet to test the NNW extension of the high-grade zinc oxide RH zone, and 1 step out R-C drill hole has been completed so far, to test the SSE extension. Drilling continues to outline a zinc-bearing carbonate replacement envelope surrounding the high-grade RH Zone. This envelope covers an area of at least 600 metres long and 200 metres wide. Cypress?s efforts are currently focused on extending the high-grade core of the system. All drill holes to date, have encountered the same altered oxidized carbonate replacement host rock found in the RH Zone. This drilling could increase the potential size and scale of the RH Zone. The Company anticipates its phase 1 work program will include 30 R-C drill holes, drilled from 18 sites, for a total of approximately 9,000 feet. The Company anticipates releasing all assays from the first 20 drill holes later in June 2004. In 2006, Cypress Development Corp. holds a 73.13% interest, Bison Gold Exploration Inc. 26.87%, in the 2,400 acres Gunman Zinc-Silver Project. At that time, the two drill programs completed by Cypress Development on the Gunman property included 26,000 feet of drilling, which returned some spectacular drill intercepts with grades reaching up to 37% zinc over 5.0 feet, and 26.8% zinc and 8 oz per ton silver over 75 feet.

Comment (Economic Factors): Reserves for the property have not yet been calculated and released, but rough calculations indicated that geologic resources of zinc and silver in the deposit may approach the thresholds for inclusion in the significant deposit database.

Comment (Identification): Although reserves and resources have not yet been caculated, this project approaches the threshold values for zinc and silver for inclusion in significant deposit database.

Comment (Deposit): The mineralization is shallow occurring mainly between the surface and 300 foot depth and consists of a high-grade zinc oxide zone surrounded by a zinc-bearing carbonate replacement envelope. The RH Zone is a tabular body of intensely oxidized, zinc-silver mineralization of apparent carbonate replacement origin. The zinc mineralization is primarily zinc oxide (smithsonite). As partially delineated by the 2000 drill program, the RH Zone is approx. 300 feet long (NNW), 150 feet wide (ENE), and about 80 feet thick starting at or near surface and continues to be open along strike in both directions. Drilling has indicated that mineralization occurs in vertical bodies within a flat lying oxidized zone up to 300 feet thick extending down from the surface. The immediate drill target now covers an area at least 2000 feet long by 500 feet wide. Drilling within this envelope is currently targeting features identified during a Self Potential (SP) survey carried out in 2001 that showed very distinct signatures over the high-grade RH Zone and the RH South Zone. The SP survey showed classic responses from the upper oxidized zone and over sulfides in the lower reduced part of the section. Proximity to strong north trending faults appears to be a controlling factor on grade distribution. The mineralization discovered on the Gunman Project to date, strongly resembles the oxide zinc-silver-lead-gold bonanzas that have been historically mined in the Eureka district, located 40 miles SSW of the Gunman property.

Comment (Location): The Gunman property consists of 120 Federal lode claims totaling 2,400 acres, located on the east flank of the Diamond Range, between Horse Canyon on the south and Big Canyon on the north. The property is immediately adjacent to a paved highway and to electrical power. UTM is centered on the RH Zone; the RH South zone lies about 2500 meters SSW of the RH zone.

Comment (Workings): The property is in an area previously unmined but just north of a few old shafts and prospect pits shown on the topographic map. The current prospect is developed by surface prospecting and drilling.

Comment (Commodity): Ore Materials: smithsonite, zinc oxide, sulfides

Comment (Commodity): Gangue Materials: calcite

---

References

Reference (Deposit): NBMG MI-2002

Reference (Deposit): http://www.cypressdevelopmentcorp.com/s/Gunman.asp
URL: http://www.cypressdevelopmentcorp.com/s/Gunman.asp

Reference (Deposit): Cypress Development Corp. website and press releases 2000-2004

---

Nevada Gold

Nevada has a total of 368 distinct gold districts. Of the of those, just 36 are major producers with production and/or reserves of over 1,000,000 ounces, 49 have production and/or reserves of over 100,000 ounces, with the rest having less than 100,000 ounces. Read more: Gold Districts of Nevada.