#United States #Buscar Company #Eon Discovery #Treasure Canyon #Plumas County

Buscar Company Completes Geological Report for Treasure Canyon

In a recent announcement, Buscar Company (OTC: CGLD) confirmed the completion of its Exploration Target Geological Report for the Treasure Canyon Gold-Copper Project, located in Plumas County, California. This report marks a significant milestone in the company’s ongoing efforts to explore and identify mineral resources in the area.

Project Overview

The Treasure Canyon Project is entirely owned by Buscar’s subsidiary Eon Discovery Inc. and is situated in the renowned Lights Creek Mining District, approximately 85 miles northwest of Reno, Nevada. The District boasts a rich mining history that dates back to the California Gold Rush of the 1850s.

The recently completed report, prepared by Martin L. Gallon, a qualified professional in the field, has identified three distinct styles of mineralization within the project area:
1. Auriferous quartz veins associated with gold-rich systems,
2. Placer gold deposits located along and near Lights Creek,
3. A significant copper soil anomaly at Sulfide Ridge, which may be indicative of additional mining opportunities.

Key Highlights

The Exploration Target Geological Report outlines various substantial findings:

• - Historical sampling from the Ada Vein has yielded varying gold values, with notable working-face samples grading as high as 2.75 oz/ton. An isolated sample extracted from a nearby area returned an extraordinary 29.2 oz/ton.
• - The report recommends an initial diamond drilling program consisting of 29 holes, totaling approximately 10,378 feet, to further explore and define these mineralization targets. The estimated cost for this program stands at around $2.48 million.
• - In relation to regulatory compliance, a Plan of Operations has been submitted to the U.S. Forest Service and is currently under review, while additional permits are being sought concurrently.

Recommendations for Future Work

The report suggests a phased approach moving forward. The recommended diamond drilling program aims to evaluate the geometry and grades of the primary gold-bearing vein systems and the continuity of copper mineralization at Sulfide Ridge. Mr. Gallon also advised further underground development and geophysical studies following the publication of initial drill results. To proceed, Buscar will need additional funding, as current resources are insufficient to undertake these recommendations effectively.

Management Insights

Aleksandr Dekhtyar, the Chairman and CEO of Buscar Company, expressed satisfaction regarding the report’s findings, emphasizing the historical significance of the mining district and the potential for high-grade gold and copper targets. He noted that the exploration program provides a strategic route toward defining these mineral resources in accordance with SEC regulations. However, he also acknowledged the challenges ahead in securing necessary permits and financing for the next phases of exploration.

Conclusion

The completion of the Exploration Target Geological Report for the Treasure Canyon Project represents a critical step in Buscar Company’s mission to advance its mineral exploration initiatives. With a strong historical backdrop and promising geological indicators, the project has the potential to significantly contribute to the company’s future growth. However, success will depend on navigating regulatory requirements and securing the necessary funding to fully realize the exploration program.

As the mining industry continues to face challenges and opportunities alike, the next steps for Buscar could very well shape the trajectory of its operations in California and beyond.

Disclaimer: The exploration targets and potential quantities mentioned in this announcement are purely conceptual and do not constitute mineral resources or reserves as defined by regulatory standards. Further exploration is required to establish the feasibility of these targets.