Overview 

The Stevens Basin Project is located approximately 8 miles west of Eureka, Nevada in an odd hydrographic basin atop the Mahogany Hills at approximately 7300 feet elevation. Cordex Exploration carried out a rock chip sampling program in 2010 (237 samples), then leased the property to Navaho Gold (Australian) in 2012. Navaho completed several geophysical surveys and eventually completed 22 RC drill holes at the project (12110 ft, 3692m total). Six holes intersected gold at greater than 0.100 g/t. A vertical hole SB11-09 had anomalous gold over 105 ft that includes 50 feet of 0.182 g/t. The high value in all drilling is 0.52 g/t gold. Better values tend to be associated with As and Sb, typical of a Carlin-type gold system. 
 
The geology at Stevens Basin is Devonian-age carbonate rocks that include the lower Devils Gate Formation and the Simonson Dolomite. These units are intruded by Tertiary (Jurassic?) felsic sills and dikes. Small jasperoid bodies are present and carry gold mineralization on the surface up to 2.51 g/t. Seventeen surface samples (of the 237) carry greater than 0.30 g/t gold.   Land status of the property is BLM grounds that are classified as “Priority and General Management sage grouse habitat “.  Drilling, by Navaho, was conducted under a NOI. The permit issued to Cordex, by the BLM, details specific exploration activities to be conducted according to calendar timeframes.  
 
Recommendations: All data from Cordex and Navaho needs to be compiled in order to devise a drilling program to offset better holes along the most favorable trends.  Cross sections of the Navaho drilling appear to be absent from the data package and need to be created. Sections should include consideration of the trace element distribution in the drill samples.  Other surface sampling should be conducted around the edges of anomalous grid sampling conducted by Cordex.

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