Upon completion Fairchild will acquire a 100% interest in the Goodsprings Project, which comprises 72 mining claims. Consideration for the acquisition will comprise:
1. the issue of 3,000,000 unrestricted shares in Fairchild with a deemed value of C$150,000 (A$167,000); and
2. Fairchild granting Koba a 1.0% royalty, 50% of which may be bought out at any time for C$1,000,000.
Upon completion Koba will become the second largest shareholder of Fairchild. Completion is subject to Fairchild’s receipt of all requisite TSXV approvals.
Assets Acquired: The Koba claims contain several excellent mineral exploration targets that are additive to Fairchild’s existing claims, including the December Mine antimony-gold prospect, the Poppy Shaft gold system, and the Fitzhugh Lee, Rose, Mobile and Columbia Mine porphyry copper-gold targets. Koba did a substantial amount of geochemical sampling and IP Geophysics, and Fairchild will be receiving this Koba database.
Figure 2: IP Geophysics performed by Koba
The Copper Chief Property is a good combination of a perfect geographic location, a 1-hour drive from Las Vegas, all the infrastructure in situ, with a geologically favorable environment; characterized by the existence of a set of multi-target, mainly Skarn-related mineralization, Carbonate Replacement Deposits with Porphyry-style potential, and multi-commodities like Cu-Au-Ag-PGEs.
Other critical metals, like antimony can be found on the property with a 4500 g/ton sample found at the December Mine in 2021. With this acquisition Fairchild Gold can now follow up on these and other findings without concern.
Copper Chief Targets: Fairchild is focused on the discovery of Porphyry Copper-gold systems (PCDs) and gold-silver-PGEs-antimony vein systems at Copper Chief. More than 15 old prospects and mines are located within the outline of the property. Several types and ages of mineral deposits are present. Fairchild’s presently known targets are shown in Figure 3.
The #1priority target is the Copper Chief Porphyry which has very high-grade copper mineralization present at the surface in multiple places, and in skarn that may indicate a shallower PCD system. Other ranked targets are:
2025 Targets:
*None of these targets have been previously drilled
Figure 3: Fairchild Gold 2025 targets
About the Copper Chief Property
Situated in Nevada’s renowned mineral belts, the Copper Chief Property stands out as a high-potential Cu-Au exploration project. With robust geochemical results and favorable geology, it presents a compelling case for continued exploration and investment.
CEO’s Statement:
“This agreement with Koba Resources Ltd allows Fairchild to expand the Copper Chief asset with a high mineral potential area, where appropriate exploration surveys were conducted and generated an important database, including geological, geochemical and geophysical information. Fairchild’s team will assess and reprocess this data, with the objective of confirming the potential for copper and gold, but not neglecting other critical metals like PGEs, antimony and cobalt.
The company will prioritize all the property targets, including the ones coming from this last acquisition, and refining the knowledge already acquired”
–Luis Martins, CEO of Fairchild Gold Corp.
QP Statement:
Mr. Richard R. Redfern, M.S., C.P.G. No. 10717, is the qualified person as defined by National Instrument 43-101 who has examined the Copper Chief property on the ground numerous times since 2003, and reviewed the geological information available from private and public sources related to the property and is responsible for approving the technical contents of this press release.
About KOBA Resources
Koba Resources Limited (ASX:KOB) is an Australian exploration company that is focused on a portfolio of uranium projects in Australia and Canada.
About Fairchild Gold Corp.
Fairchild is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the Copper Chief Property, Nevada, and the Fairchild Lake Property in Ontario.
On behalf of the Board of Directors
Luis Martins
Director and Chief Executive Officer
Fairchild Gold Corp.
[email protected]
(866) 497-0284
care of the redaction
please folow us also with a like on Instagram, user name: gio.vanni.acerbi
