GEOLOGY AND POTENTIAL OF THE TIP TOP GOLD PROPERTY ...parkerminingcorp.com/images/TipTop-Geology-2014-Feb-6.pdf · 6.02.2014 · and 29 of Township 1 North, Range 33 East, Mount

GEOLOGY AND POTENTIAL OF THE

TIP TOP GOLD PROPERTY

Esmeralda County, Nevada

Parker Mining Corporation

6 February 2014

by Fred Barnard, AIPG-CPG

Consulting Economic Geologist

and

Director, Parker Mining Corporation

POTENTIAL OF THE TIP TOP GOLD PROPERTY ESMERALDA COUNTY, NEVADA

PARKER MINING CORPORATION 1 February, 2014 ___________________________________________________________________________________

TABLE OF CONTENTS

1.0 SUMMARY ........................................................................................................ 1

2.0 INTRODUCTION .............................................................................................. 1

2.1 Purpose and Scope ................................................................................................ 1

2.2 Sources of Information ......................................................................................... 2

3.0 RELIANCE ON OTHER EXPERTS ................................................................... 3

4.0 PROPERTY DESCRIPTION AND LOCATION ............................................... 3

4.1 Type and location of Tip Top property ............................................................... 3

4.2 Adjacent patented claims .................................................................................... 5

4.3 Permits and Environment .................................................................................... 7

5. ACCESSIBILTY, CLIMATE, LOCAL RESOURCES, ETC. ............................. 9

5.1 Location and Access ........................................................................................... 9

5.2 Logistics ........................................................................................ ..................... 10

6. HISTORY ............................................................................................................. 10

6.1 Exploration History ............................................................................................ 10

6.2 Historical Mineral Resource Estimates ............................................................... 12

7.0 GEOLOGICAL SETTING AND MINERALIZATION .................................... 12

7.1 Geology .............................................................................................................. 12

7.1.1 Tertiary Volcanic Stratigraphy ......................................................................... 14

7.1.2 Intrusive rocks .................................................................................................. 16

7.1.3 Structure ............................................................................................................. 17

7.1.4 Alteration ........................................................................................................... 19

7.2. Mineralization ..................................................................................................... 21

7.2.1 Mercury Mineralization .................................................................................... 22

7.2.2 Distribution of Gold Mineralization ................................................................. 23

7.2.3 Paragenesis of Gold Mineralization ................................................................. 25

8.0 DEPOSIT TYPES ................................................................................................. 29

9.0 EXPLORATION .................................................................................................. 29

9.1 Rock-chip sampling ............................................................................................. 29

9.2 Geophysics .......................................................................................................... 30

10.0 DRILLING ......................................................................................................... 32

11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY .......................... 35

12.0 DATA VERIFICATION .................................................................................. 36

13.0 MINERAL PROCESSING AND METALLURGICAL TESTING ................. 36

14.0 MINERAL RESOURCES ESTIMATES ......................................................... 36

14.1 Gold Summit estimates ...................................................................................... 36

14.2 Parker Mining estimates ..................................................................................... 37

15.0 MINERAL RESERVE ESTIMATES .................................. ............................. 40

16.0 MINING METHODS ........................................................................................ 40

17.0 RECOVERY METHODS ............................................................................... 40

18.0 PROJECT INFRASTRUCTURE .................................................................... 40

19.0 MARKET STUDIES AND CONTRACTS ..................................................... 40

20.0 ENVIRONMENTAL STUDIES, PERMITTING, ETC. .................................. 41

21.0 CAPITAL AND OPERATING COSTS ........................................................... 41

22.0 ECONOMIC DATA .......................................................................................... 41

23.0 ADJACENT PROPERTIES ............................................................................. 41

24.0 OTHER RELEVANT DATA AND INFORMATION ..................................... 41

25.0 INTERPRETATION AND CONCLUSIONS ................................................... 41



26.0 RECOMMENDATIONS .................................................................................. 42

27.0 REFERENCES .................................................................................................. 44

28.0 DATE AND SIGNATURE PAGE .................................................................... 45

FIGURES

Figure 4-1. Location of Tip Top property. Modified from Preuss (2009) .................... 3

Figure 4-2. Locations of Parker mining claims. Modified from Devlin, 2001 ............ 4

Figure 4-3. Corner 3 of Buena Vista patented claim ..................................................... 6

Figure 4-4. Corrected position of Buena Vista and Gold Standard patented claims .... 7

Figure 5-1. Panoramic view south across the Tip Top property from Sugarloaf Peak .. 9

Figure 5-2. Looking west up Sugarloaf Canyon ....................................................... 10

Figure 5-3. Workings on the Tip Top Vein ............................................................. 10

Figure 7-1. Geologic map, after Devlin (2001) .......................................................... 13

Figure 7-2. Geologic map by Gold Summit ................................................................ 14

Figure 7-3. Relevant part of stratigraphic column from USGS ................................... 15

Figure 7-4. Stratigraphic column for the Tip Top area................................................. 15

Figure 7-5. Dipping section of flow-banded andesite west of Hill 9132 ................... 16

Figure 7-6. Crackle breccia in rhyodacite .................................................................. 16

Figure 7-7. Altered rhydodacite .................................................................................. 16

Figure 7-8. Fracture Pattern ........................................................................................ 18

Figure 7-9. Interpretation of fracture pattern ............................................................ 18

Figure 7-10. Setting of Tip Top fracture pattern ........................................................ 19

Figure 7-11. Overview of geology and alteration ..................................................... 20

Figure 7-12. Highly altered rhyolite or rhyodacite ...................................................... 21

Figure 7-13. Mercury mineralization ......................................................................... 22

Figure 7-14. Quartz replacing "dog-tooth" mineral .................................................... 26

Figure 7-15. Similar quartz replacement texture ......................................................... 26

Figure 7-16. Sample locations .................................................................................... 26

Figure 9-1. Resistivities from CSMT Survey .............................................. .............. 31

Figure 9-2. Fritz's interpretation of resistivities .......................................................... 31

Figure 9-3. Cross-section on Line 2400 E ................................................................. 31

Figure 10-1. Drill Plan of the Tip Top Adit Area ................................................. ..... 33

Figure 10-2. Core from Gold Summit hole #17 .......................................................... 34

Figure 14-1. Location of drilling and cross-section in the Tip Top Adit Area ............ 38

Figure 14-2. Cross-section along 7,900 N .................................................................... 39

Figure 14-3 Parker Mining's modeled 300-foot-deep pit ............................................. 39

TABLES

Table 4-1. Parker Mining's claims on the Tip Top property ........................................ 5

Table 4-2. Coordinates points on or near Parker Mining claim boundaries ................. 5

Table 6-1. Exploration at the Tip Top project ............................................................ 12

Table 7-1. Paragenesis from Hansley report ............................................................... 27

Table 7-2. Tentative synthesis of paragenesis ............................................................. 27

Table 10-1. Drilling in Tip Top Adit Area ..................................................................... 32

Table 10-2. Tip Top drilling outside the Adit Area ...................................................... 34

Table 14-1. Summary of Gold Summit resource tabulation ......................................... 37



------------------------------------------------------------------------------------------------------------------------------- PARKER MINING CORPORATION 1 TIP TOP GOLD PROPERTY, NEVADA

1.0 SUMMARY

The Tip Top property consists of 22 unpatented mining claims held by Parker Mining

Corporation, a private Nevada company. The property is located at the north end of the White

Mountains in Esmeralda County, Nevada.

Several epithermal veins of bonanza type (low base metals) on the property are peripheral to an

altered rhyodacite intrusive within a suite of Tertiary bimodal volcanic and intrusive rocks. Two

of the veins historically produced a total of 6,900 ounces of gold, with some silver.

Since 1980, the property has been drilled by five companies, with 143 drill holes totaling over

24,000 feet. Most of the holes are in or adjacent to the Tip Top Vein. The Tip Top Vein has a 43-

101-compliant resource totaling 60,600 ounces of gold at a 0.03 opt cutoff. A more recent

floating-cone estimate (not 43-101 compliant) by Parker Mining, using a lower cutoff of 0.015

opt, totals 101,400 ounces in open-pit configuration.

Significant exploration potential exists on the property:

- additional mineralization along the Tip Top Vein on strike and down-dip. There is a good

probability of expanding the known mineralization by 25% or more.

- the Riddle Vein has received relatively little attention, and has never been drilled, in spite of

interesting gold assays from the vein. There is excellent potential for mineralization in the

Riddle Vein, of grade and size expected to be similar to that at Tip Top.

- a rhyodacite porphyry-related disseminate or stockwork system may be beneath the apparent

center of intrusion, radiating faults, alteration, and (presumably) mineralizing fluids, in the area

south of the Tip Top adit and west of the Riddle adit.

- other areas such as the Pinon vein have scarcely been examined, and are worthy of attention.

2.0 INTRODUCTION

2.1 Purpose and Scope

The writer was engaged initially in August 2012 by Parker Mining Corporation (herein "Parker Mining",

a closely-held Nevada corporation, to update a summary of the exploration opportunities at the Tip Top

epithermal gold property in Esmeralda County, Nevada. The author of this report, Fred Barnard, is a

shareholder and Director of Parker Mining, and thus not independent of Parker Mining.




This report is an update of the initial report, which was dated January 25, 2013. It is formatted in the

general style of a Canada NI-43-101 Technical Report for convenience of the reader, but is NOT a 43-101

report. Parker Mining Corporation is a private Nevada corporation, and is not a public company in

Canada or in any other jurisdiction.

This report is intended to highlight the exploration potential of the Parker Mining claims and surrounds,

where potential exists for bulk-tonnage gold mineralization, additional to the vein-hosted mineralization

in the Tip Top Vein and similar veins. Data on the history of exploration and the legal and environmental

status of the property are discussed only briefly, as they are well-documented elsewhere, mainly in the

Gold Summit NI-43-101 report dated 20 October, 2009, (Preuss 2009), as well as in various unpublished

documents.

The discussion of exploration potential focuses outside the intensively-investigated Tip Top Expanded

Model (600 by 750 feet) in the vicinity of the historic Tip Top mine workings, where the bulk of drilling

and sampling have been undertaken in the past. A 43-101 compliant Mineral Resource of some 60,600

ounces Au combined, in Inferred and Indicated categories was defined by Gold Summit (Preuss, 2009)

within the Tip Top Mine area, using 138 holes drilled between 1980 and 2004. Parker Mining calculated

a larger resource (not 43-101 compliant) in the Tip Top mine area containing 101,400 ounces, using 103

drill holes inside a mineralized shell, and a floating-cone algorithm to define an open pit.

2.2 Sources of Information

The writer visited the Tip Top property on 28 August, 2012, in the company of Messrs. Sidney Alderman,

Robert Schenk, and David Watson, all principals of Parker Mining, and again during June 26-30, 2013 in

the company of Messrs. Robert Schenk and Robert Mattox. The writer also briefly reviewed some of the

Hecla drill core stored in Reno on August 27, 2012.

The writer reviewed many documents, including drill logs, prepared by those who previously explored the

property between 1980 and 2009. The geologic map prepared for Arctic Precious Metals (1989), and the

summary exploration reports filed by Hecla (2001), Covik Development (2002) and Gold Summit (2009)

were chief among these. Published sources of information, and the unpublished sources cited herein, are

listed in Section 27, References.

Among other sources, this report relies in part on the NI-43-101 report dated 20 October, 2009 which was

filed on SEDAR in Canada by Gold Summit Corporation (Preuss 2009). The data from Gold Summit's

drilling is now in the possession of Parker Mining.

Some of the information discussed in Section 14 (Mineral Resource Estimates),was prepared by

shareholders/Directors of Parker Mining, and not by independent experts.




3.0 RELIANCE ON OTHER EXPERTS

Information relating to the current status of Parker Mining's mining claims was ascertained by personnel

of Parker Mining, not by independent experts. The author has used other information herein, including

quoting the mineral resource estimates compliant with Canada NI 43-101, from the Gold Summit

Technical Report filed on SEDAR in 2009 (Preuss, 2009).

4.0 PROPERTY DESCRIPTION AND LOCATION

4.1 Type and location of Tip Top property

The Tip Top property consists of 22 unpatented federal lode claims owned 100% by, Parker Mining,

which were staked by Parker and others. The general location is shown on Figure 4-1, and the claim

outlines in Figure 4-2. The individual claims are listed on Table 4-1. The claims lie entirely within

Esmeralda County, Nevada, although close to the Mineral County line, and are within sections 21,22, 28,

and 29 of Township 1 North, Range 33 East, Mount Diablo Baseline and Meridian.

The property lies entirely within the USGS "Mt. Montgomery" 7 1/2-minute quadrangle topographic

map. The property is sometimes described as being in the "Sugarloaf" area, due to the presence nearby of

a prominent cone-shaped summit known as "the Sugarloaf". Since the 1860's, various "mining district"

names have been applied to the region (Oneota, Buena Vista, Mt. Montgomery, Basalt), but in fact

there is no one cohesive "mining district" in terms of geology, logistics, or history, which encompasses all

the metals occurrences in the region.

Figure 4-1. Location of Tip Top property. Modified from Preuss (2009).




Figure 4-2. Locations of Parker mining claims. Modified from Devlin, 2001.

The outer boundary of Parker Mining's claim block, as it relates to topography and geology, is shown on

several Figures in this report, mainly in Section 7. Individual claims are shown on Table 4-1.

Various points on Figures 4-2 and 4-4 have the coordinates shown in Table 4-2, as determined by hand-

held GPS by Parker Mining in 2013. The elevations shown, in feet above sea level, are from a survey

undertaken by the land surveyors Minex Exploration in 1990. A map of the Minex survey on a scale of 1

inch = 400 feet, dated 5/3/90 and signed by B. Bream, is in Parker Mining's possession. The Minex map

ties the claim survey to the Sugarloaf benchmark, elevation 9182 feet.

Although each claim nominally contains 20.66 acres, the overlap among some claims, and the overlap

with the two patented claims (not part of Parker Mining's holdings) to the west, reduce the net area to

approximately 436 acres . The Parker Mining claims are partly surrounded by other unpatented claims, all

of which are junior to the Parker Mining claims, and thus do not affect the valid acreage of Parker

Mining's claims.

All of Parker Mining's listed claims are valid through August 31, 2014, at which time their validity can be

extended by payment of annual fees of $ 150 per claim, a total of $ 3,300. There are no encumbrances on

the property.




Table 4-1. Parker Mining's claims on the Tip Top property.

Name of Claim BLM NMC no. Location date Area, acres Bueno Rico No. 1 507367 07/15/1988 20.66

Bueno Rico No. 2 507368 07/15/1988 20.66

Bueno Rico No. 3 507369 07/15.1988 20.66

Bueno Rico No. 4 507370 07/15/1988 20.66

Bueno Rico No. 5 723742 10/19/1995 20..0

Bueno Rico No. 12 427078 06/06/1987 20.66

Bueno Rico No. 14 723743 10/19/1995 18.5*

Bueno Rico No. 15 477797 02/24/1988 20.66

Bueno Rico No. 16 477798 02/24/1988 20.66

Bueno Rico No. 20 723744 10/19/1995 18.5*

Bueno Rico No. 21 555786 03/29/1989 20.66

Bueno Rico No. 22 555787 03/29/1989 20.66

Ridge No. 1 767009 02/03/1997 20.66

Ridge No. 2 767010 02/03/1997 20.66

BVH No. 3 822106 10/06/2000 20.66

BVH No. 4 822107 10/06/2000 20.66

BVH No. 5 822108 10/06/2000 20.66

BVH No. 6 822109 10/06/2000 20.66

BVH No. 7 822110 10/06/2000 20.66

BVH No. 8 822111 10/06/2000 20.66

BVH No. 9 822112 10/06/2000 17.0*

BVH No. 10 822113 10/06/2000 10.3*

* estimated valid acreage of claims overlapped by senior claims or patents.

Table 4-2. Coordinates points on or near Parker Mining claim boundaries.

description latitude N longitude W UTM - E UTM - N elevation Buena Vista patent, Corner 1 37-55.485 118-18.508 384,997 4,198,069 8,840 ft

Buena Vista patent, Corner.2 37-55. 588 118-18.396 385,165 4,198,256 8,777 ft

Buena Vista patent, Corner 3 37-55.653 118-18.274 385,341 4,198,379 8,870 ft

Buena Vista patent, Corner 4 37-55.720 118-18.330 385,262 4,198,500 8,640 ft

Tip Top adit 37-55.706 118-18.145 385,534 4,198,490 8,510 ft

4.2 Adjacent patented claims.

Two patented claims, not controlled by Parker Mining, lie adjacent to Parker Mining's claims. These are

the Gold Standard and Buena Vista lode patents described by Mineral Survey 2711A, undertaken in June

1906 and approved 12 January 1907; U.S. Patent Number 65355, was issued in June, 1909. The

discussion below on the true location of these patents is necessary because: 1) the patents pre-date, and

thus delimit, Parker Mining's claims; and 2) the patents are mislocated on the USGS 7 1/2 minute

topographic map of the Mt. Montgomery quadrangle, which was field-checked by the USGS in 1994.

That map carries a disclaimer, stating that "this map is not a legal land line or ownership document". The

writer has noted other cases in the western U.S. in which patented claims were significantly mislocated on

USGS topographic maps.




Parker Mining determined, by an intensive ground search in 2013, that the Buena Vista patent corners 1,

2, 3, and 4, listed on Table 4-1, are several hundred feet east of the USGS plotted position. Figure 4-3 is a

photo of Corner 3 of the Buena Vista patent, as found in August 2013. Figure 4-4 shows the actual

position of the patented claims, compared to the erroneous plot on the Mt. Montgomery quadrangle.

According to the 1906-07 Buena Vista patent survey notes and plat, the point of departure for the Mineral

Survey (no. 2711A) was the south quarter-corner of Section 21 (north quarter-corner of Section 28). The

USGS map indicates that this corner was not found during the map preparation, and a concerted search by

Parker Mining in June 2013 did not identify any candidate markers for this quarter corner. In this regard,

it is notable that the Mt. Montgomery quadrangle map does not show "found' section corners or quarter-

corners for any of the sections near the Tip Top property, except the common corner of sections 9, 10, 15,

and 16, which was not the point of departure for any of the surveys relevant to Parker Mining's claims.

Figure 4-3. Corner 3 of Buena Vista patented claim. This lies at the appropriate distances and bearings from

Corners 1, 2, and 4 of this patent. The rustic post at right is believed to date from the original patent survey in 1906,

while the weathered post at left appears to date from a mid-20th Century survey. In 2013, Parker Mining placed the

center post with blue flagging and aluminum tag. Photo by Parker Mining, 2013.




Figure 4-4. Corrected position of Buena Vista and Gold Standard patented claims. The shaded outline is the

erroneous patent block as shown on the Mt. Montgomery quadrangle.

4.3 Permits and Environment

4.3.1 General Statement. The Tip Top property has not been in production for nearly 100 years; thus, no

operating permits are in place. Drilling and associated activities involving surface disturbance require

permits from the U.S. Forest Service. Parker currently holds a provisional approval for implementation of

a mineral exploration program proposed when Gold Summit had an option on the property.

No pre-existing environmental liabilities encumber the property. A number of environmental and

operating permits would be required prior to operation.

The lead federal agency for permitting of the Tip Top claims is the U.S. Forest Service, though the Inyo

National Forest office in Bishop, California. In April 1995 Dos Amigos submitted a Plan of Operations

(POO) for an open pit, heap-leach mining operation at the Tip Top site. This comprised several surveys

required by the Forest Service and/or the Nevada Division of Environmental Protection. These included

water quality, soil erosion plan, environmental assessment, cultural heritage and preliminary

characterization for acid drainage surveys. During this time period, Dos Amigos also applied for and

obtained approval for all Nevada State permits required to allow the project to proceed.




In April 1997 the Forest Service issued its completed environmental Assessment (EA) for public

comment. Additional drilling was called for to test the potential of waste rock generation of acid mine

drainage. The Forest Service then updated the EA to incorporate the new test data and input from public

comments. In June 2001 the agency advised Dos Amigos that the final approval had been interrupted by

changes in the Federal Land and Resources Management Plan (Amended February 12, 2001). This

forced the Forest Service to undertake additional analysis on the proposed plan. Dos Amigos later ran out

of funding and the Forest Service terminated the update process. More recently, a POO for mineral

exploration was completed for pending approval in August 2012, when Gold Summit/Crown Gold

discontinued their lease option on the property.

Any future development of the property will require all of the above mentioned surveys to be completed,

plus surveys for air quality, bat habitat and sage grouse habitat and possibly other surveys to meet USFS

regulations. Per discussions with Forest Service personnel in 2009, a mitigation plan will probably be

required for relocating the historical 10-stamp mill near the Tip Top adit.

4.3.2 Roadless Area. A Roadless Area was established by the Forest Service in the 1980’s as part of the

national RARE II program, encompassing the area southwest of the Tip Top adit, or about two-thirds of

the property. No precise legal description of the boundary of the area is available from the Forest

Service; the only available definition of the Roadless Area is the outline on a sketchy 1982 map

(Schmauch, et al, 1982; see Figure 7-13 in this report).

The Roadless Area contains numerous roads, including an often-used County-maintained road which

passes a less than 1,000 feet from the Tip Top adit. The establishment of any new roads, including drill

roads would require high-level Forest Service approval. In the past the Forest Service has indicated that

use of trackless drilling equipment in the Roadless Area would be satisfactory. Mining is allowed (with

the relevant permits) within the Roadless Area. For additional information about Forest Service

permitting the reader is invited to contact Margaret Wood, District Ranger, Lone Pine, CA at (760) 876-

6227, email: [email protected]

The Tip Top adit, and a significant proportion of the Tip Top property are north of the Roadless Area

boundary. According to the Schmauch map, the boundary extends in an easterly direction from the

westernmost corner of the Buena Vista patented claim, which is probably mislocated on the Schmauch

map (see discussion above in Section 4.2).

4.3.3 Biota. There is some concern in the northern White Mountains about the status of two animals: the

Greater Sage Grouse, and bats.

The Greater Sage Grouse occurs in the northern White Mountains. This bird, which occurs in eleven

western states and two Canadian provinces, is currently the subject of a national study to determine

whether it needs federal protection. A draft EIS prepared by the BLM and Forest Service for Nevada and

northeastern California, dated November 1, 2013, refers to the White Mountains as a “USFS non-priority

forest” with regard to sage-grouse management.




The Tip Top underground workings have become a habitat for a small colony of bats. As part of an

exploration drilling permit in 2003, a bat survey was completed. When asked in 2009, the Forest Service

advised that, should the area be disturbed, then removal of the bats from the underground workings

would be necessary. If attempts to force the bats out of the mine workings to other available local habitat

areas were not successful, then a new bat habitat enclosure would need to be erected.

5.0 ACCESSIBILTY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND

PHSIOGRAPHY.

5.1 Location and Access

The Tip Top property is located in Esmeralda County, Nevada at the north end of the White Mountains,

five miles south of Montgomery Pass, which is on U.S. highway 6 between Bishop, CA and Tonopah,

NV (Figure 4-1). Figures 5-1 to 5-3 show views of the property.

The property is at an elevation between 8,300 and 8,700 feet in the Inyo National Forest, in scattered

juniper-pine forest with extensive sagebrush areas . It is accessible by an improved dirt road maintained

by Esmeralda County. Some of the numerous lesser side roads have been blocked by the Forest Service,

but can be opened to provide access for approved mineral exploration activities.

Figure 5-1. Panoramic view south across the Tip Top property from Sugarloaf Peak. Photo by

author, 2012.




Figure 5-2. Looking west up Sugarloaf Canyon. Figure 5-3. Workings on the Tip Top Vein.

The Portal of the Tip Top adit is at the center.

5.2 Logistics

All essential services are available in Bishop (population 3,900), which is 45 miles to the south along U.S.

Highway 6. Many services can be obtained in Tonopah (population 2,500), located 60 miles east of

Montgomery Pass on U.S. Highway 6. Benton and Chalfant Valley, California, north of Bishop, offer

very limited services.

Field work can typically be carried out during April to early November, depending on winter snowfall.

Although part of the property is steeply sloping, there are sufficient areas for mining operations. Water,

power, and personnel were addressed in a 1995 Dos Amigos Plan of Operations (POO) for an open pit,

heap-leach mining operation at the Tip Top site. Areas for a waste rock dump, topsoil stockpiling, a leach

pad and processing plant together with site drainage control systems were all identified.

6.0 HISTORY

6.1 Exploration History.

Part of this discussion is taken from Preuss (2009).

The Tip Top vein was discovered in the late 1800's and was operated by the Louisiana Consolidated

Mining Company from 1915 to 1919. A ten stamp mill was erected, with a cyanide leach plant nearby.

The mine was developed from a single adit, producing 6,540 ounces of gold from about 10,000 tons of

ore in a shallow, outcropping ore shoot.




The Brownie Mine is a mile southwest of the Tip Top Mine, and on the Tip Top property. It appears to lie

on the same southwesterly structure as the Tip Top Mine. The Brownie was developed on five adit levels,

and was productive during 1908, 1914-1915, and 1931 to 1941. It yielded 393 ounces of gold and 327

ounces of silver from 2,682 tons of ore (Schmauch, et al, 1983).

In 1980, Cordex, a Reno-based Canadian exploration group headed by Andy Wallace and John

Livermore, staked the area and drilled 26 rotary and two core holes along the two-mile strike length of the

Brownie-Tip Top vein system. At the then existing gold price of $480 per ounce, the resource at depth

was too low grade for an underground mining approach. Cordex dropped its claims in 1984.

During the early 1980's, the White Mountains were subjected to an evaluation of Roadless Areas by the

U.S. Bureau of Mines and the U.S. Geological Survey, under the national RARE II. This work resulted in

several published reports, by McKee (1982), Schmauch, et al. (1983), and Smith, et al. (1983), among

others. This program did not involve any drilling or trenching, and only modest sampling of known

mineral prospects. The Tip Top workings lie outside the Roadless Area, and were therefore not addressed

in the RARE II study, but the Brownie workings were addressed.

Parker Mining Corporation located claims in the area, and in 1989 optioned the property to Arctic

Precious Metals (Steve Moore, geologist), who undertook detailed geological mapping on the property.

Arctic completed 15 RC holes, mostly in the footwall of the Tip Top vein.

In 1994 Dos Amigos, a private mine development group headed by Chester Millar (of Glamis Gold),

leased the property from Parker and drilled 52 shallow (<80 feet each) percussion holes and 17 RC holes

in the Adit Area. This drilling not only confirmed the underground sampling, but also discovered a

previously unknown high-grade stockwork zone extending southwest under alluvial cover. This

mineralized zone remains open and untested along strike.

Hecla Mining leased the property in 2001, and drilled 9 core holes to test the Tip Top Adit Area down-dip

to test for mineralization suitable for underground mining. Hecla’s criteria for this program was five feet

of plus one-half ounce of gold, which was achieved in only one hole.

Parker then leased the property in 2002, and again in 2009, to Gold Summit Mines (Anthony P. Taylor of

Reno, operating as successor to Millenium Mining Corp.) which carried out an extensive exploration

program including geologic mapping, geophysics, and the drilling of 22 holes. This drilling confirmed the

shallow mineralization in the Adit Area, and extended the high-grade vein and stockwork zone 600 feet

to the southwest. In 2010, Gold Summit merged with Crown Gold Corporation, which dropped the lease

in July 2012 due to a lack of funding.

Additional claims were staked to the north and northeast of Parker Mining's claims, some of which were

later dropped, and none of which are currently part of the Tip Top property described here.




A summary of the work at Tip Top is shown in Table 6-1. Some of the work was conducted outside the

current Tip Top property boundaries, including a small portion of the drilling.

Table 6-1. Exploration at the Tip Top project.

time period company type of work drilling comments* 1862-1980 various prospecting, mining none ? 6,900 oz Au prod.

1980-84 Cordex mainly drilling, metallurgy 26 RC, 2 DDH "C" hole series

1986-present Parker Mining mapping, sampling 2 horizontal

channels UG

channels in Tip Top

adit & crosscut, 1987

1989-1990 Arctic Precious Metals mapping, sampling, drilling 15 RC "A" hole series

1994-1998 Dos Amigos/Big Sky drilling, resource estimate,

column-leach tests, mine plan

52 air-track,

17 RC

"DA" and "DA98"

hole series

2001 Hecla Mining Drilling 9 DDH "H" hole series

2002 Millennium/Covik

Development

Review of earlier data, for

Gold Summit

none report written

(Price, 2002)

2003-2009 Gold Summit Geophysics, drilling, resource

estimation

15 DDH

7 RC holes

"GS" hole series,

43-101 report filed

2013 Parker Mining Geology, petrography 2 channels this report

* Hole series designations are those shown on compilation maps by Parker Mining; original hole designations may

vary.

6.2 Historical Mineral Resource Estimates.

A draft report on the 1983 RARE II project (Schmauch, et al., 1983) contains resource estimates for the

Brownie Mine which were not included in the final report. This shows "indicated" and "inferred"

resources totaling 8,780 tons grading 0.21 opt Au, which would be equivalent to 1,844 ounces of gold.

The USGS-USBM estimate is based on their sampling within the accessible workings and surface

exposures, which yielded samples assaying up to 0.744 opt Au across 4.5 feet, apparently within 100 feet

down-dip from surface. The Tip Top workings lie outside the Roadless Area, and were not addressed by

the RARE II project.

Parker Mining has not done sufficient work to classify the RARE II historical 1983 Brownie Mine

estimate as current mineral resources or mineral reserves, and is not treating the historical estimates as

such.

7.0 GEOLOGICAL SETTING AND MINERALIZATION

7.1 Geology

The Tip Top property is in the White Mountains, the western-most range in this part of the Basin and

Range Province. The regional geology is well-described in Preuss (2009), Crowder, et all (1979) and

other publications. The principal geologic maps of the Tip Top property and surrounds are those by the

USGS (Crowder, et al, 1972) and McKee (1982); Moore (1989), Devlin (2001), and Casteel (2004). The




USGS maps were broad-brush in nature, and show relatively little detail in the Tip Top area. Devlin's

(2001) map is largely drawn from Moore (1989) with some additions to surface geology.

The White Mountains are within a geologically-complex region, with rocks ranging from Paleozoic to

Pliocene, including a sequence of Tertiary bimodal intrusive and extrusive igneous rocks. However, the

Tip Top property itself and the immediate environs expose only the Tertiary volcanic and intrusive rocks.

These rocks are the hosts for mineralization, and thus of the utmost importance. The pre-Tertiary rocks

exposed some distance north, west, and south of the Tip Top area do not have any obvious relationship to

the precious-metals mineralization, and are not discussed further here.

Part of Devlin’s (2001) map of the Tip Top area is shown below as Figure 7-1, while the Gold Summit

map (Casteel 2004 and Preuss, 2009) is in Figure 7-2. In spite of considerable differences, one essential

point of agreement is that the gold-mineralized structures lie within, or bound, units which may be older

than the flow-banded rhyolite.

Figure 7-1. Geologic map, after Devlin (2001). Examination by the writer of the detached area of "rhyodacite" 1/2

mile southwest of the Riddle adit, indicates that this is brecciated intrusive andesite, not rhyodacite.




Figure 7-2. Geologic map by Gold Summit. Legend modified for this report after Preuss (2009).

7.1.1 Tertiary Volcanic Stratigraphy

It is apparent from the maps produced by the USBM, USGS, and various exploration companies, that the

relationships of the Tertiary volcanics have not been fully unraveled. The available reports and maps

present highly varying interpretations of the distribution of volcanic units and fractures (faults and veins)

in the Top Top area. For example, the USGS Benton GQ map, and the detailed compilation map by

Devlin (2001, which is based on mapping by Moore, 1989), differ greatly. In turn, the fractures shown by

Preuss (2009, page 33, after Casteel's (2004) mapping, are again different from the other two.

The Tertiary volcanics form a complex bi-modal assemblage which are apparently inter-fingering in part.

Figure 7-3 is modified from Crowder, et al. (1972) to show only the units in the Tip Top area. Figure 7-4

is a stratigraphic column deduced by the writer from mapping and reports by Moore (1989), Devlin

(2001), and Casteel (2004). The writer has spent only three days doing field geology at Tip Top, and

admits to considerable uncertainty about the sequence of the Tertiary units. For example, flow-banded

rhyolitic rocks with lithophysae may be of more than one age.




Figure 7-3. Relevant part of stratigraphic Figure 7-4. Stratigraphic column for the Tip Top

column from USGS. After Crowder, et al (1972). area. Deduced for this report after Moore (1989)

and Casteel (2004).

The panorama in Figure 7-5 shows the contact of andesite with rhyodacite on the south side of Riddle

Ridge, looking east toward Hill 9132. Mapping by Moore (1989) shows that this sequence dips about 20

degrees north. The andesites locally show weak propylitic alteration (chlorite, pyrite, calcite). It

appears likely that the barely-altered, flow-banded andesites immediately south of the ridge are

unmineralized and could be post-mineral in age. Given the contrast with the highly-altered rhyodacite to

the north, the contact is likely a fault; no evidence of incorporation of rhyodacite fragments into the

andesite was noted by the writer.

A significant issue is whether the glassy (perlitic) rhyolites/rhyodacites on Sugarloaf Peak and elsewhere

are the same generation as, or later than, the similar but altered rocks within the mineralized corridor.

There is also the question of whether there is more than one generation of andesites.

The inter-volcanic sediments, Tcg and Tal of Figure 7-4 are potentially valuable as marker units to

unravel the volcanic stratigraphy. On the county access road about a mile north of the Tip Top adit, the

sediments occur beneath flow-banded, lithophysae rhyolite. They contain abundant rounded clasts of

Paleozoic (?) chert up to 4 inches diameter, which are not exposed anywhere on the Tip Top property.

The chert clasts probably represent steam channels which formed on the surface of Paleozoic rocks, prior

to the advent of vulcanism.




Figure 7-5. Dipping section of flow-banded andesite west of Hill 9132. Photo by author, 2013.

7.1.2 Intrusive rocks

Central to both maps, Figures 7.1 and 7.2, the porphyritic rhyodacite extends southwest from the Tip Top-

Riddle area, to the Brownie-Sagehen Flat area, forming the core of the south part of the Tip Top property.

Some investigators have surmised that the rhyodacite is gradational from a sub-volcanic intrusive to a

flow. According to Preuss (2009), breccias in its central part (similar to Figure 7-6) are interpreted as roof

breccias that may have graded into an extrusive phase represented by rhyodacite exposed about 1000 feet

to the southeast.

Figure 7-6. Crackle breccia in rhyodacite. Figure 7-7. Altered rhydodacite. Exposures north of

Interpreted as near-surface intrusive or flow. Outcrop Hill 9132. Angular voids and altered patches indicated

is west of Hill 9132. Photo by writer, 2013. by "ph". Photo by writer, 2013.




The rhyodacite contains sparse biotite and 10% or more feldspar phenocrysts. Some areas mapped as

rhyodacite contain a large proportion of lithic fragments, reminiscent of a lithic tuff. Locally it contains

blocky voids to several centimeters long.

At this point it appears that the intrusive phase (poorly- or non-banded) is centered on the smooth slope

("Riddle Ridge"), shown in Figure 7-11 below, due west of the Riddle adit and south of the Tip Top adit.

Moore (1989) notes a "core of fresh rock in Trd stock" (i.e. "center of fresh rock in rhyodacite stock") in

this area. The material found by this writer was highly-altered, with altered or leached-out angular

fragments (see Figure 7-7), but unaltered rock could also exist. No assured in-situ outcrops were seen on

Riddle Ridge , as opposed to abundant monolithologic float.

The large, angular altered fragments or voids seen locally in the rhyodacite were initially believed by the

present writer to be altered or leached potassium feldspar (orthoclase or sanidine) phenocrysts. However

petrographic study (Hansley, 2013) shows that the fragments are spherulitic (perlitic) volcanic glass,

locally altered to smectite clays and fine-grained potassium feldspar. Locally they have also been leached

completely, leaving angular open cavities, as discussed below under Alteration in Section 7.1.4.

The isolated "rhyodacite" (Trd) area mapped by Moore (1989), lying about 3,000 feet south of the Tip

Top adit, is, in the author’s opinion, actually an andesite breccia lying adjacent to, and apparently

beneath, andesite flows. (See Figure 7-5) It is much less altered than the rhyodacite areas.

Further mapping and study are still needed on the rhyodacite, which might hold the key to

controls on mineralization.

7.1.3 Structure

As mentioned previously, the available reports and maps present highly varying interpretations of the

distribution of volcanic units and fractures (faults and veins) in the Tip Top area. For example, the USGS

Benton GQ map, and the detailed compilation map by Devlin (2001, which appears to be based on

mapping by Moore, 1989), are utterly different. In turn, the fractures shown by Preuss (2009, page 33,

after Casteel's mapping) are again different than the other two. The writer believes that the Devlin map is

probably most accurate in the Tip Top area. Figure 7-30 below shows the fractures on Devlin's map,

along with some other salient features for ease of location with respect to other maps. For example, the

Sugarloaf rhyolite is shown as a locational aid, but as discussed above, is not considered to be closely

related to the auriferous fracture system.

The fracture pattern in Figure 7-8 is suggestive of an uplift and source of hydrothermal fluids centered

beneath the Tip Top-Riddle area. Conjugate radial-tangential fracture patterns such as seen here

sometimes occur around and above porphyry-type intrusives. There is a good chance that the source

magma for the rhyodacite intruded in the Tip Top-Riddle area.




Figure 7-8. Fracture Pattern. (After Devlin, 2001). Figure 7-9. Interpretation of fracture pattern.

Figure 7-9, is this writer's interpretation of the fracture pattern. Several features are noted:

1) Most fractures can be classed as either tangential ("T") or radial ("R") to the Tip Top area.

2) The mineralized fractures (i.e. veins, in red) are northeasterly, whether tangential or radial.

3) The fracture system is centered in the Tip Top - Riddle area, within the Trd (rhyodacite) unit.

Note that the two superimposed circles are merely intended to highlight the tangential relationship of the

fractures; the circles do not show specific structures. Note also that lithology is not shown on Figures 7-8

or 7-9.

The spatial relation between the center and the precious-metals trend in the region is shown on Figure 7-

10. Readers are again reminded that the grey circle on Figure 7-9 is not a geological structures, only an

arbitrary circumference around the center. Figure 7-10 strongly suggests that Parker Mining's Tip Top

property is directly athwart the most favorable area in the entire region for the development of

hydrothermal precious-metals systems.

Where dips can be measured unequivocally, they are normally less than 20 degrees. However, the

combination of sparse outcrops and the presence of flow banding of highly variable original orientation

in rhyolites greatly complicates interpretation of post-volcanic structure. Figure 7-5 above is one of the

few places noted by the writer where a reliable original dip and strike can be obtained.




Figure 7-10. Setting of Tip Top fracture pattern.

7.1.4 Alteration

The pre-Jurassic rocks in the White Mountains are regionally metamorphosed, locally to almandine-

amphibolite facies. However, the Tertiary rocks have not been subjected to regional metamorphism.

Hydrothermal alteration of some of the Tertiary rocks has been described briefly in various reports

(Casteel, 2004, and especially Parker Mining, 2005). A synthesis of the areal distribution of alteration

types was undertaken by Moore (1989, Plate II), who outlined a large area of "argillic" alteration, as

generalized in Figure 7-11. This largely coincides with the rhyodacite. To date the writer has not seen

any unaltered rhyodacite. It is always altered to a fine-grained mixture of clays and other minerals,

although original igneous textures are usually preserved.

A compilation map by Parker Mining (2005) indicates that bleaching and opalization are abundant in the

younger (post-mineral ?) rhyolites units. The older units, especially andesites, are shown as commonly

altered by a propylitic assemblage (chlorite, pyrite, calcite veins). Hematite staining also occurs locally.

Veins of calcite up to 2 feet thick occur east of Sugarloaf, relatively far from known mineralization.




Figure 7-11. Overview of geology and alteration.

The rhyodacite is variously bleached, argillized, and/or silicified. Figure 7-12, below, illustrates very

advanced alteration of rhyodacite groundmass, with total leaching of some clasts, especially those of

rhyolitic glass. Some of the altered rocks have a soapy or greasy feel when wet, due to smectite clays,

kaolin, and occasionally sericite as alteration products. These and some other fine-grained alteration

minerals can only be identified by thin-section or X-ray work, as described in Section 7.13 on mineral

paragenesis.

"Riddle Ridge", shown on Figure 7-11, is the ridge extending southwest from the Riddle Adit, to the hill

with spot elevation 9132, and beyond. As has long been noted, this ridge has generated one or more

landslips on the north face, toward the Tip Top adit. They are visible on the left edge of Figure 5-1,

around the label "to Riddle adit". The presence of the landslips, and the absence of assured outcrops, are

likely due to the altered and fractured nature of the rhyodacite in this area.




Figure 7-12. Highly altered rhyolite or rhyodacite showing

completely leached clasts. Sample TTF-1 from near Riddle adit.

In mid-2013, Parker Mining contracted Petrographic Consultants International Inc. (Paula Hansley) of

Colorado to undertake a thin-section study of 7 specimens collected by the writer. Two of samples were

also subjected to X-ray diffraction for identification of fine-grained alteration minerals. Results of this

work, with respect to both economic mineralization and alteration, are discussed in Section 7.13 on

mineral paragenesis.

7.2. Mineralization

Within the project area and surrounds, there are several differing types of mineralization. These are each

described below:

a) Mercury mineralization occurring along a broad northwesterly trend, shown on Figure 7-13.

b) Gold-silver mineralization, occurring in a narrow, southwesterly trend, as shown in Figure 7-

10.

c) Fluorite, apparently without accompanying metals, on the same trend as gold-silver; see

Figure 7-10. This mineralization is far off the Tip Top property, and is not further discussed

here.

d) Lead-zinc-silver, lying on a northwesterly trend far to the south, in Queen Canyon.; see

Figure 7-10. This type of mineralization is at least partly hosted in pre-Tertiary rocks and is

far from the Tip Top property, so it is not further discussed here.




7.2.1 Mercury Mineralization

Descriptions of mercury mineralization exist in several primary sources, the most important of which are

Bailey and Phoenix (1944), Albers and Stewart (1972), and the RARE-II study (Schmauch, et al, 1982).

In addition, all companies exploring the Tip Top property have examined the Starlight deposit on

Sugarloaf, and the Buckskin deposit.

All of the mercury deposits located within Figure 7-13 share certain features:

1) all are hosted in rhyolite, often flow-banded and/or glassy, and often with lithophysae

2) all have opalite in the host rocks

3) excepting cinnabar, which can be deposited directly from a vapor phase, no sulfides are present

4) other metal values are apparently absent, except trace amounts of Ag, and (at Buckskin) Sb

oxides. Hecla's final report (Devlin, 2001) stated that "Mineralized structures at the

Starlight Mine are devoid of any significant gold and silver values."

5) mineralization is usually shallow, with no important underground workings,

6) mineralization ranges in elevation from 9,000 feet at Starlight, to below 8,000 feet at others.

The present author concludes that mercury mineralization in the Tip Top region is likely younger

than the gold mineralization, and occurs along a northwesterly trend which is only partly, if at all,

related to the gold mineralization described below. This interpretation differs from that of most

explorers at Tip Top, who have assumed that the Starlight and other nearby Hg deposits occur at the tops

of precious-metals systems. This assumption guided the exploration philosophy in some cases.

Figure 7-13. Mercury mineralization. The shaded outline is the RARE II Roadless Area. Map adapted from

Schmauch, 1982




7.2.2 Distribution of Gold Mineralization

Within the Tip Top and surrounding area are several gold occurrences, which also carry modest amounts

of silver. Figure 7-10 shows the distribution of these. Note that along the strike extension of the

"epithermal gold trend" there are several fluorite prospects which do not apparently carry precious metals.

The discussion immediately below pertains only to the "epithermal gold trend". The "Old Sheepherder"

prospect is described in Schmauch, et al (1983, Table 2) as being a quartz vein in granodiorite, and is

considered by the current writer to not be related to the epithermal veins in Tertiary rocks.

Some of the epithermal descriptions below are paraphrased from Preuss (2009)

The Tip Top gold/silver mineralization is a volcanic-hosted, low sulfidation, epithermal vein and

stockwork system. Gold mineralization occurs in northeast-striking, southeast-dipping quartz-calcite-

adularia veins and silicified stockwork breccias at the Tip Top and Brownie gold mines.

The mineralized zone extends for a distance of two miles from the Brownie gold mine to the Gold Hit

area, including the Tip Top Mine near the center. It consists of at least two sub-parallel structures which

may be normal faults bounding a horst of intrusive rhyodacite. Extrusive volcanics appear to overlap the

rhyodacite, and elsewhere are deposited on the eroded surface of underlying Jurassic granite. Important

host rocks for the mineralized veins are rhyolite, rhyodacite, and andesite (Casteel, 2004).

Tip Top mineralization has vein textures typical of epithermal low- to intermediate-sulfidation veins with

crustiform to colloform banded quartz, adularia, and massive to bladed calcite. Much of the vein material

is recrystallized to a sugary quartz, with leached vein material replaced by calcite. Almost no sulfides are

present in exposed vein material, although sparse pyrite is occasionally encountered in drill core. Wall

rock alteration immediately adjacent to the veins varies in width and type depending upon lithologies.

Most is argillic alteration with smectite-illite and minor chlorite.

The Tip Top adit was exploited along two discrete veins – one in the hanging wall the other in the

footwall along 360 feet of strike length. About 10,000 tons of material was mined from the Tip Top adit

with approximately 6,000 ounces of gold recovered (Albers and Stewart, 1972). The footwall vein has an

average width of 6 feet and is hosted in andesite, while the hanging wall vein is narrower, just under 3

feet average width and sits at the andesite-rhyolite contact. These veins appear to come together creating a

zone up to 15 feet wide. The strike length of the vein in this area is over 1,000 feet. The Tip Top

mineralized vein has an identified strike-length as far as 1,200 feet to the NNE from the adit portal

(Casteel, 2004).

The silver-to-gold ratio at the Tip Top mine varies widely. Probably the best estimate is based on the six

underground bulk samples taken by Kappes Cassiday in August 2009 for their metallurgical test work.

Fire assays of the head samples indicated 0.131 opt of gold, and 1.21 opt of silver: a Ag:Au ratio of 9.23.

Most of the observed mineralization is oxidized, although sparse pyrite has been encountered in a number

of drill holes.




The Brownie Mine was developed on 5 levels along a northeast-trending vein cutting andesite and

rhyolite. Moore (1989) considered the Brownie vein to be related to the Tip Top vein. The main Brownie

adit was driven 150 feet eastward to intercept a strong northeast-trending fault zone. A winze followed

the mineralized vein, with the mineralized zone described as lens-shaped, typically 30 feet wide, but

widening to 80 feet at the surface (Price, 2002). The Brownie vein structure is covered to the northeast by

slumped material.

The underground workings at the Brownie were sampled by Cordex and by Parker Mining. Cordex

defined a mineralized zone 9 to 16 feet wide and 500 feet long, averaging about 0.15 opt Au. Northeast of

the mine, drilling by Cordex revealed the Brownie Fault split into a number of splays (Price, 2002). Ten

holes were drilled in this area by Cordex, with mineralization intersected in 3 drill holes, though no

intercepts were greater than 0.03 opt Au. The Brownie vein structure is covered to the northeast by

slumped material. At the Brownie # 5 Level (upper) working, mineralization occurs in both sugary quartz

and in quartz veins containing leached layers of quartz capping what were probably original dogtooth

calcite crystals, just as at the Tip Top.

At both the Tip Top and Brownie Mines, the high-grade gold mineralization appears to plunge gently to

the northeast down the dip-slope of the veins.

The Buena Vista exploration adit and the surface vein exposures lie between the Brownie and Tip Top,

and have not been examined by the present writer. They were sampled by Parker Mining, and showed

weakly anomalous gold and silver values. Cordex drill holes 1, 2, 26, and 28 test this area at depth. Hole

28 was cored from 440 feet to 923 feet (TD) and encountered gold mineralization between 440 feet and

510 feet averaging about .02 opt Au.

The Riddle Vein is exposed in a road cut 1,200 feet southeast of the Tip Top adit. Sampling of the

outcrop by Parker Mining gave values of 0.15 opt over a vein width of about ten feet. The surface

expression of the Riddle vein is parallel to the Tip Top vein, extending southwesterly for about 4,000 feet

where it may possibly merge with the Pinon Vein (a.k.a Sagehen Flat Vein).

The Pinon Vein, known as the Sagehen Flat Vein in some reports, has not been examined in detail by

Parker Mining nor by the writer. According to the map by Devlin (2001), it lies at the contact between

andesite and flow-banded rhyolite, about 200 feet southeast of the inferred contact between andesite and

the rhyodacite body and andesite.

In 2004, Gold Summit drilled a reverse-circulation (RC) hole GS-10 (initial designation MMR-10),

collared about 1100 feet east of the Pinon prospect. This hole was oriented N 24 W, and was inclined 60

degrees; thus it was targeted somewhat to the north of the Pinon prospect. The hole was collared in

andesite, entered rhyodacite at 450 feet, and ended in the same at 820 feet. This indicates that the

rhyodacite-andesite contact dips to the south. A gouge zone with veinlets was encountered at 380 to 400

feet. Some rhyodacite intervals were brecciated. Assay results showed anomalous gold and silver values




from 350 to 470 feet; i.e. lower andesite and just into the rhyodacite. The highest values were 15 feet

averaging 592 ppb Au and 1.7 ppm Ag, between 355 and 370 feet. This result was not followed up by any

of the subsequent Gold Summit holes.

7.2.3 Paragenesis of Gold Mineralization

The writer investigated the time relationships of alteration and vein minerals through 20-power binocular

microscope examination, and through a petrographic and X-ray study contracted to Paula Hansley of

Petrographic Consultants International Inc. in Colorado. Observations from drill core stored in

Reno/Sparks, and remarks in various exploration reports were also used.

The great majority of samples of all types which were examined did not contain sulfide minerals, except

for deep core drill samples, which sometimes showed traces of pyrite. Evidence of oxidized sulfides

(cubic cavities or pseudomorphs; iron oxides), is sparse, indicating that the original sulfide content was

very low, probably less than 1%. Most samples examined were from the oxide zone, from which sulfides

and calcite have been leached..

7.13.1 Hand-specimen data. Samples examined mesoscopically by the writer for Parker Mining were

mainly from the Tip Top adit dump, the Tip Top upper open-stope dump, the Riddle dump, and the upper

Brownie workings and dump. All show similar features:

a) No or very rare sign of current or former sulfides. If present they must have been

very fine-grained (as sulfosalts and electrum ?)

b) Quartz pseudomorphs in two habits, both of which are probably after original calcite:

i) bladed (“angel-wing”) laths or compact masses of laths, the calcite

morphology thought to be associated with boiling in hydrothermal fluids, and

ii) elongate, tapered pyramids, (“dog-tooth” shape)

c) Possible sequence of events as follow::

i) brecciation of host volcanics, possibly during explosive boiling events

ii) infill by fine-grained milky quartz or chalcedony (now quartz)

iii) deposition of calcite (+barite ?), possibly alternating with silica

(chalcedony or quartz)

iv) dissolution of calcite (post-boiling ?)

v) deposition of drusy quartz in open spaces left by dissolved calcite

Scans of two specimens from the Tip Top and Riddle veins are below in Figures 7-14 and 7-15. These

textures suggest to the writer that a similar fluid history pertained at both Tip Top and Riddle. The bladed

calcite is commonly assumed to indicate a boiling event, which often accompanies gold-silver deposits of

“bonanza” type, i.e. without large amounts of accompanying copper, lead, or zinc, but often with

sulfosalts.




Figure 7-14. Quartz replacing "dog-tooth" mineral, Figure 7-15. Similar quartz replacement texture,

presumably calcite, in Tip Top Vein. Riddle Vein

7.13.1 Microscopic and X-ray data. Locations of the seven thin sections examined by Hansley are shown

below in Figure 7-16, all from within the rhyodacite area. None of the samples are from assured

outcrops, as the writer did not find any exposed outcrop within this area; however, the samples were all

derived from rocks underlying the smooth slopes on which they were collected..

Figure 7-16. Sample locations. Blue line shows outer limit of argillic alteration,

from Moore (1989). For other symbols, see Figure 7-11.




Table 7-1 below is summarized from the Hansley report. The two thin sections from specimen TTF-4 are

considered as one herein, as they are two thin sections cut a few centimeters apart from the same hand

specimen. This was felt necessary due to the large size of fragments in TTF-4. The three samples from

locality 29-7 (A, C, and E) are from specimens with differing lithologies and textures collected within a

3-meter radius on Riddle Ridge (see photo in Figure 7-7).

Note that calcite is not a listed mineral, as it has apparently been leached from the samples, as it was in

the veins. Samples 8-1 and 29-7-C contained some olivine-bearing andesite /basalt fragments, and thus

contain traces of chrysotile asbestos. The chalcopyrite in sample TTF-4-1 was confined to several tiny

blebs (1 to 2 microns), too small to positively identify even under the microscope. Very small grains of

pyrite were also observed in several specimens, usually in the interiors of rock fragments in breccias.

Table 7-1. Paragenesis from Hansley report.

Sample rock area Paragenetic sequence (early to late)

8-1 volcanic

breccia

Lower

Riddle Rd.

silica + smectite-chlorite (?) + zeolite (?) > chrysotile > leaching

> alunite > iron oxides.

29-7-A rhyodacite

Riddle

Ridge

silica + smectite (?) > K-feldspar > leaching > kaolinite > iron

oxides.

29-7-C rhyodacite

breccia

silica + smectite (?) + zeolite (?) > K-feldspar + sericite >

chrysotile > leaching > alunite + jarosite > pyrite + specular

hematite > oxidation.

29-7-E rhyodacite

breccia

silica + smectite > K-feldspar > leaching > brecciation > quartz

(matrix and veins) . kaolinite > jarosite + alunite (?) > iron

oxides.

30-2-1 rhyodacite

breccia

Upper Rid-

dle Road

silica + smectite (?) – K-feldspar – brecciation – leaching – silica

- kaolinite (?) - alunite + jarosite (?) –– iron oxides.

TTF-4-1 rhyolite

breccia

Riddle Rd.

near R. adit

silica + smectite + chalcopyrite > K-feldspar > leaching >

kaolinite > alunite > iron oxides. TTF-4-2

Table 7-2 shows the writer's tentative generalization of Hansley's observed paragenesis. The "classic

porphyry alteration types" are listed for reference.

Table 7-2. Tentative synthesis of paragenesis.

STAGE: ---> silica +

smectite*

K-spar

(adularia) leaching kaolinite alunite iron oxides

Timing earliest Early middle mid-late late latest

no. samples

showing 6 (all) 5 6 3 or 4 5 6

Possible

variations

+ zeolites,

chalcopyrite

+ sericite,

chrysotile

+ silica,

brecciation,

+ silica

+ jarosite,

pyrite, hem. --

postulated

temperature rising highest boiling falling low near-surface

classic porphyry

alteration type propylitic

potassic

(+phyllic)

(faulting?)

(boiling ?) argillic

(only in acid-

sulfate systems)

supergene

(weathering)

postulated

quartz vein

formation

calcite +qz,

(calcite only,

in veins N of

Tip Top)

adularia calcite

leached out

vein selvages,

barren ? secondary gold

mobilization

barren ? gold-silver barren or base metals




These data show a good correspondence between alteration and mineralization events in the

rhyodacite and in the Tip Top, Riddle, and Brownie veins. The writer considers it very likely that

the rhyodacite intrusive was the source of fluids and heat for emplacement of the bounding veins.

7.2.4 Exploration potential.

The writer's conclusions are as follow:

1) the mineralized corridor defined by the Tip Top-Brownie trend on the north side, and the Riddle-Pinon

trend on the south side should be the focus of exploration. This corridor is about 1,000 feet wide and

5,000 feet long.

2) Drilling results to date at the Tip Top indicates that some additional mineralization can be discovered

by follow-up drilling for lateral or at-depth extensions of the known mineralization. There is a good

probability of expanding the known mineralization by 25% to 50% in the immediate Tip Top Vein area,

along strike and down-dip.

3. The Riddle Vein has received relatively little attention, and has never been drilled, in spite of

interesting gold assays from the vein in the Riddle adit (0.15 opt Au over a width of 10 feet), and the

strong alteration in the adjacent rhyodacite. Based on the evidence discussed above, the Riddle plumbing

system is closely related to that at Tip Top. Thus, there is excellent potential for mineralization in the

Riddle Vein, of grade and size similar to that at Tip Top.

4) The Brownie vein lies on essentially on a dip slope, and daylights at the upper workings (Level 5). The

potential tonnage of unmined vein material is thus limited.

5) The epicenter of intrusion, radiating faults, alteration, and (presumably) mineralizing fluids, is most

likely beneath the smooth slope south of the Tip Top adit and west of the Riddle adit.

6) A rhyodacite porphyry-related system could exist beneath the "epicenter" mentioned above., it's

possible that the pervasive acidic (alunite) alteration seen at surface is a vapor-phase phenomenon, with a

posited liquid-phase (metals-carrying) system at depth. If so, the known veins at surface could have been

created by early leakage into faults as the rhyodacite intruded. A stockwork system might have developed

in those facies of rhyodacite where the combination of hydrothermal fluid pressure, hydrostatic pressure,

and cooling rock strength were propitious for pervasive fracturing of the stock. Although not mappable at

surface due to alteration and landslide cover, such zones may exist, and if so, would present attractive

bulk-tonnage targets.

7) The Pinon Vein area has scarcely been examined, and is worthy of attention as a possible analog to the

Riddle Vein.




8) Exploration at Tip Top has defined interesting mineralization in the vicinity of the Tip Top adit. Assay

and geological results of the 138 drill holes on the property are in Parker Mining's possession, and are

available for review by interested parties. Geologic maps and cross-sections are also available.

8.0 DEPOSIT TYPES

The Tip Top gold-silver mineralization is a volcanic-hosted, low sulfidation, epithermal vein and

stockwork system. It exhibits all the essential features of epithermal deposits, including:

- occurrence in, or adjacent to, quartz veins cutting across country rocks

- vein textures with crustiform to colloform banded quartz, adularia, and bladed open-space-

filling calcite

- a metals association of gold, silver, and subsidiary copper, lead, and zinc.

- hydrothermal alteration of wall rocks by sericite, alunite, kaolinite, silica, and others

- association with adjacent young, mainly felsic, igneous rocks (rhyolite, rhyodacite) and

andesite.

The mercury mineralization on nearby Sugarloaf Peak and elsewhere in the region is also of epithermal

origin. As discussed in Section 7.11, it is likely only indirectly related to the precious-metals

mineralization.

9.0 EXPLORATION

This section discusses the exploration, other than geology, undertaken by previous operators, as well as

by Parker Mining, as summarized in Table 6-1. Drilling by these operators is discussed in Section 10.

9.1 Rock-chip sampling.

Several of the groups exploring the Tip Top property have undertaken various amounts of rock-chip

sampling on outcrops. Due to steep slopes with abundant talus cover and soil creep, soil surveys have not

been carried out. The results of rock-chip sampling have been not very edifying, due to the sporadic

nature of sampling on the property, and the tendency to sample immediately adjacent to known

mineralization. In addition, information is lacking in some cases on the sampling and assaying

procedures.




9.2 Geophysics.

Because of the high relief, steep terrain, and presence of young igneous rocks, the Tip Top area is not

ideally suited to geophysical surveys. The only geophysical survey of which Parker Mining is aware is the

2004 survey carried out for Gold Summit. Consulting geophysicist Frank Fritz interpreted a CSMT

(Controlled-Source Magneto-Telluric) survey carried out by Zonge Geophysics for Gold Summit (Fritz

Geophysics, 2004).

CSMT is a variant of IP resistivity, in which a large artificial ("controlled") electromagnetic field of

varying frequency is induced at a considerable distance from the targets. The supposed advantages over

traditional IP resistivity are: 1) the large controlled field masks cultural and atmospheric noise, allowing

for greater resolution, and 2) a greater depth of penetration is achieved; as much as several hundred

meters. The survey at Tip Top was undertaken to elucidate subsurface structure, especially low-resistivity

(i.e. conductive) fractures and alteration zones in the Tertiary volcanics and underlying basement.

The final geophysical report (Fritz, 2004) includes these statements:

- "The general picture defined by the CSMT data is a complex pile of structurally deformed

volcanics sitting on a deeper, also structurally deformed, granite basement all intruded by

rhyodacite plugs"

- " .... data have not shown a 'bulls eye type' response possibly associated with mineralization."

- "The dominant structural direction is north-east as defined by the known vein systems and almost

all of the structures interpreted from the CSMT data. Some of these structures appear to extend

through the vertical sections while others are restricted to the upper volcanic section and do not

appear to cut the deeper interpreted granite basement.

- "The second structural direction appears to be north-west, parallel to the CSMT lines and

perpendicular to the surface vein systems. This direction has been interpreted mainly from offsets in

the interpreted granite basement and associations with shallower features. As these structures are

interpreted to be roughly parallel to the lines the locations may not be very accurate".

- "There is an area of lower resistivity ..... extending ENE from the Tip Top Mine area."

- "No additional geophysical work is recommended at this time".

The Figures 9-1, 9-2, and 9-3 illustrate these points. The figures are cropped and re-labeled here for

clarity, after illustrations in Fritz Geophysics (2004). The background contours are topographic contours.




Figure 9-1. Resistivities from CSMT Survey. Figure 9-2. Fritz's interpretation of resistivities

From Fritz (2004). on Figure 9-1. From Fritz (2004), some labels added

for this report.

Figure 9-3. Cross-section on Line 2400 E, Based on CSMT Survey. (Fritz, 2004)

This northwesterly line is about 300 feet northeast of the Tip Top adit.




As would be expected in a young (Tertiary) volcanic terrane with moderate to high relief, the CSMT

survey results are highly subject to interpretation. Nevertheless, the survey reinforces the views that:

1) the dominant (and mineralized, thus better-conducting) fractures are northeasterly.

2) northwesterly faults also occur.

3) rhyodacite of great thickness (1,000+ feet) underlies the block striking NE though Tip Top.

4) there is some kind of a center, characterized by low resistivity) in the Tip Top area.

5) drilling, rather than geophysics, is needed to provide concise data.

10.0 DRILLING

As mentioned in Section 6 and in Table 10-1 below, five companies have drilled at Tip Top since 1980.

The great majority of the drilling was within 500 feet of the Tip Top Adit, as shown on Figure 10-1. This

area contains 108 drill holes, while an additional 31 holes lie outside the Adit Area, mainly along strike to

the northeast and southwest.

Table 10-1. Drilling on the Tip Top property. Lengths are in feet.

company years

drill holes assays

type no. in

RPA*

no.

total

length

total

length

ave.

no. length

Cordex 1980-81 rotary 6 6 2,990 498 169 830

reverse circ. 1 7 2,880 411 123 596

Parker Mining 1987 channels 2 2 763 381 46 583

Arctic 1990 reverse circ. 6 11 5,172 472 994 4,937

Dos Amigos 1995 air track 52 69 3,782 55 449 3,713

1998 reverse circ. 17 19 2,285 120 472 2,239

Hecla 2001 core 9 9 2,000 222 289 1,034

Gold Summit 2003-2005 reverse circ. 0 7 2,130 426 194 2,015

core 10 15 2,878 240 385 1,099

TOTAL 1980-2005 all types 103 145 24,880 172 3,121 17,046

* RPA denotes "Rockworks Project Area", shown in Figure 10-1.




Figure 10-1. Drill Plan of the Tip Top Adit Area (Rockworks Project Area).

Most samples from the Hecla and Gold Summit drilling are stored in Parker Mining's storage facility in

Reno/Sparks, Nevada. Figure 10-2 shows some of the stored core.

Drilling results are summarized in Section 10 of Preuss (2009), which is available at www.SEDAR.com, or

on the Parker Mining website at www.parkerminingcorp.com/tiptopgoldproject.html . Specific locations

and results of drilling on the Tip Top property are available from Parker Mining, which has a largely

complete database of all holes. The calculation of mineral resources is discussed in Section 14 of the

present report.

The 31 holes drilled outside the Adit Area are summarized in Table 10-2. All of the Dos Amigos and

Hecla holes were within the Adit Area. In summary, the holes outside the Adit Area were unsuccessful.

However, nearly all the holes were testing for extensions of the Tip Top Vein, which is known to be of

variable dip. Importantly, only two of the holes, C-1 and C-2, tested the rhyodacite, and they tested it far

away from the Tip Top-Riddle area in which the alteration of the rhyodacite appears to be most intense.




Figure 10-2. Core from Gold Summit hole GS-17.

This box is the beginning of an intercept of 7.4 feet grading 0.27 opt Au.

Table 10-2. Tip Top drilling outside the Adit Area.

company drill holes Location targets assay results comments

Cordex C-1, 2, 5, 26,

28

SW of Adit Area NW margin of

rhyodacite

nil lithology logs

exist

Cordex C-7, 16, 16A,

17, 18, 19,27,

Brownie Mine Brownie Mine area no assays

reported

lithology logs

exist

Cordex C-8, 10, 11,

12, 22, 23, 24,

25,

NE of Adit Area NE extension of Tip

Top Vein

nil except 10 ft

0.1 opt in C-10

collars in young

rhyolite

Arctic A-9, 10, 15 Starlight Hg Mine roots of Hg deposit nil except A-9,

5 ft of 0.03 opt

cuttings possibly

contaminated ?

Arctic A-1, 3, 4, 14, NE of Adit Area NE extension of Tip

Top Vein

nil collars in young

rhyolite

Arctic A-5 NW of Adit Area silicified andesite ? nil collar in andesite

Gold

Summit

GS-9, 15 NE of Tip Top

adit

NE extension of Tip

Top Vein

nil collar in young

rhyolite

Gold

Summit

GS-10 South of Brownie Pinon Vein area anomalous, see

text, p.25

collar in andesite,

rhyodacite below




11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY

Parker Mining has not drilled any holes on the property. The two lengthy underground channel

samples in the Tip Top adit and crosscut were assayed in 1987.

According to Gold Summit, the drilling and assaying prior to 2003 were apparently handled as

follow, as paraphrased below from the NI-43-101 report by Preuss (2009):

Cordex. No records were available that discussed the details of sample preparation,

assaying or analytical procedures used, or the nature and extent of quality control

measures used by Cordex.

Arctic. The assay data was located in electronic spreadsheets or was handwritten on

the drill logs created by Arctic in 1990. Arctic used Chemex Laboratories for

analyzing samples. While specific sample preparation and analytical procedures are

not known, Chemex was and still is an accredited laboratory. According to the

Chemex website, sample preparation and analytical procedures are audited both

internally and by outside parties. Chemex also maintains International Organization

for Standards (ISO) registrations and accreditations.

Dos Amigos. This company used Barringer Laboratories for sample analysis, which

was an accredited laboratory at that time. No records were available that discussed

the sample preparation assaying or analytical procedures used, or the nature and

extent of quality control measures used by Dos Amigos or Barringer Laboratories.

Hecla. A summary report of the 2001 Hecla drilling program states that samples

were submitted to ALS Chemex in Reno, Nevada for analysis. As with Arctic, the

exact procedures used by Chemex during sample preparation and analysis were not

available in the records. However, due to the previous noted accreditations, there is

no reason at this time to question the validity of the analytical results. A Hecla

summary report states that 12 check assays were selected from pulp samples. These

along with 10 assay standards, and 22 blanks were submitted to Bondar-Clegg in

Vancouver B.C, Canada for check analysis. No significant concerns regarding

laboratory protocol were identified, and all check analysis was found to be within

acceptable limits.

Gold Summit Corporation drilled the property in 2004 using both reverse circulation and

diamond core drilling. The RC drill cuttings were collected from the site by the analytical

laboratory, American Assay Labs located in Reno, Nevada. The core from the diamond

drilling program was photographed, logged and marked for samples on site, and was cut by saw

at a temporary facility at Montgomery Pass on U.S. Highway 6. Samples were bagged and

delivered to American Assay Labs (verbal communication to Gold Summit from Ruth Carraher,

2009). American Assay Laboratories is accredited through ISO certification, the Society of

Mineral Analysts, and several other accreditation groups.




12.0 DATA VERIFICATION

Parker Mining has not attempted to verify results of past drilling, which results were accepted by Gold

Summit in their NI 43-101 report (Preuss, 2009). The reader is referred to Section 14 of Preuss (2009)

for an explanation of their verification.

13.0 MINERAL PROCESSING AND METALLURGICAL TESTING

As described in Section 16 of the Gold Summit 43-101 report, bottle roll tests were run on selected

samples taken underground from the Tip Top adit In 1988 a bulk sample column cyanide leach test was

completed for Dos Amigos as part of their project development activity. The bulk sample recovery rate

was 75.3% for gold and 36% for silver.

In 2010 metallurgical test work on six samples from the Tip Top adit were completed by Kappes,

Cassiday and Associates. . In addition to column leach testing, bottle roll tests were also undertaken

together with agglomeration testing. The column leach tests using cyanide on a 0.25 inch crush size

showed average recoveries of 76 percent gold and 39 percent silver. The full report is available from

Parker Mining.

14.0 MINERAL RESOURCES ESTIMATES

Sulfides are very sparse in the exposed workings of the Tip Top, and in drill core. All the mineral

resources discussed below are oxides with only traces of sulfides, mainly pyrite.

14.1 Gold Summit estimates.

In 2009, Gold Summit filed a 43-101 compliant Technical Report in Canada (Preuss, 2009), based on a

Surpac block model study using Ordinary Kriging that estimated, at a .029 opt (1.0 ppm) gold cutoff, an

Indicated and Inferred Resource in the Tip Top Adit Area. This consisted of 712,150 short tons at a grade

of .085 opt, with an in-place total of 60,609 ounces of gold, including both Indicated and Inferred classes.

This model is based on samples from 116 drill holes and ignores the channel and bulk samples from the

Tip Top workings. Table 14-1 below is taken directly from the Technical Report (Preuss, 2009).

Gold Summit did not drill the Brownie workings, nor significantly address Brownie mineralization or

resources, nor mineralization anywhere outside the Tip Top Adit Area.




Table 14-1. Summary of Gold Summit resource tabulation. Copied directly from Preuss, 2009.

14.2 Parker Mining estimates.

Beginning in 2001, and most recently in 2012, Parker Mining has calculated tonnages and grades in open-

pit configuration, using the RockWorks 3D block model program. In the latest (2012) iteration, assays

from 101 drill holes, plus continuous underground channel samples in the Tip Top adit and crosscut, were

entered into the database. The Tip Top adit has 38 channel sample intervals over a horizontal distance of

154 feet, and the cross-cut has 8 channel samples over a distance of 75 feet. This yielded is a total of 113

sample intervals in the heart of the mineralized vein area.

Several models were created for alternative scenarios. Parker Mining's "open-pit" models used the

results of the floating-cone software. For each model, different cut-off grades, distance filters, and

modeling algorithms were used resulting in a large number of results for alternative scenarios. The

various model details are available from Parker Mining.

The open-pit floating-cone configurations evaluated by Parker Mining included one model in the

Rockworks Expanded Project Area, with a pit depth of 300 feet. This model used a .015 opt (0.5 gpt) gold

lower cutoff , 3.0 opt upper cutoff, and a bulk density (SG) of 2.60. It yields an open-pit tonnage of

804,816 dry short tons, grading 0.126 opt gold, containing 101,407 ounces of gold and 362,167 ounces of

silver. The cutoff of 0.015 opt (0.5 g/tonne) gold is equivalent to a gross value of about $ 17 per short

ton, at a $1,200 gold price.




Figure 14-1shows the drill holes used by both Gold Summit and Parker Mining in the Tip Top Mine area,

in relation to the Roadless Area's approximate north boundary. Figure 14-2 is an east-west cross-section,

as indicated on Figure 14-1. Figure 14-3 depicts the 300-foot-deep pit,.

Figure 14-1. Location of drilling and cross-section in the Tip Top Adit Area. From Parker Mining, 2005.




Figure 14-2. Cross-section along 7,900 N, showing drill holes and "inferred" mineralization.

Figure 14-3 Parker Mining's modeled 300-foot-deep pit .




The higher tonnage and gold ounces, and lower gold grade, of the Parker mining estimation are logically

due to the use of a lower cutoff grade (due to higher current gold prices) compared to Gold Summit's

estimation, and the definition of a floating-cone pit with its attendant dilution.

The tonnages and grades defined by Parker Mining are not compliant with Canada NI 43-101. They do

not have demonstrated economic viability, and there is no assurance that permits can be obtained which

would allow their extraction.

Given the sparse nature of drill data in the Brownie Mine area (10 holes of Cordex, of which 3

encountered low-grade mineralization), Parker Mining did not address the resource potential in that area.

15.0 MINERAL RESERVE ESTIMATES

The Tip Top property does not contain any Mineral Reserves according to any accepted definition of

"reserves".

16.0 MINING METHODS.

The Tip Top property is not an advanced property, and this section is treated in an abbreviated fashion.

The tonnage-grade estimate by Parker Mining described in Section 14.2 assumed that an open pit could

be mined by conventional bulk-tonnage methods.

17.0 RECOVERY METHODS


The bench and bulk column tests mentioned in Section 13 were based on cyanide leaching.

18.0 PROJECT INFRASTRUCTURE


All infrastructure for a mining project at Tip Top, except access roads, would have to be developed for the

project. This would include water, power, and sites for dumps, stockpiles, leach pads, and tailings

disposal. In this regard water, power, and personnel were addressed in a 1995 Dos Amigos Plan of

Operations (POO) for an open pit, heap-leach mining operation at the Tip Top site. Areas for a waste

rock dump, topsoil stockpiling, a leach pad and processing plant together with site drainage control

systems were all identified at that time.

19.0 MARKET STUDIES AND CONTRACTS

Gold and silver are readily-saleable products in a variety of forms, and have prices quoted hourly.

Therefore, market studies and contracts are not necessary, other than medium- to long-range predictions

about prices.




20.0 ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY

IMPACT

The Tip Top property is not an advanced property, and the subjects of this section are treated in Section

4.3, above.

21.0 CAPITAL AND OPERATING COSTS

The Tip Top property is not an advanced property, and the cost structure of any eventual project has not

been addressed in detail.

22.0 ECONOMIC DATA

Economic data have not been developed at Tip Top.

23.0 ADJACENT PROPERTIES

The mineral resources disclosed in this report lies within the boundaries of the Tip Top property, and are

based on drilling and other sampling from within the property boundaries.

Regional geologic data, including geologic data from outside the current property boundaries, have been

used to establish a geologic framework for the geology on the property.

The Tip Top property of Parker Mining is bounded in part on the west by two patented claims, and on the

north and northeast by unpatented mining claims, as mentioned in Sections 4.1 and 4.2 The adjacent

properties are owned by parties not related to Parker Mining, and Parker Mining is not aware of any

significant exploration or mining activity on these properties within the past several years, nor of any

delineated mineral tonnages located on them.

24.0 OTHER RELEVANT DATA AND INFORMATION

The author is not aware of any material fact or change with respect to the subjects of this report which is

not reflected in this report, the exclusion of which would make this report misleading.

25.0 INTERPRETATION AND CONCLUSIONS

The Tip Top gold-silver mineralization is a volcanic-hosted, low sulfidation, epithermal vein and

stockwork system. It exhibits all the essential features of epithermal deposits, including occurrence in, or

adjacent to, quartz veins cutting across country rocks; association with adjacent young, mainly felsic,

igneous rocks (rhyolite, rhyodacite) and andesite; vein textures with crustiform to colloform banded

quartz, adularia, and bladed open-space-filling calcite; a metals association of gold, silver, and very




minor base metals; and hydrothermal alteration of wall rocks by silica, smectites, kaolin, adularia,

alunite, and other minerals.

The mercury mineralization on nearby Sugarloaf Peak and elsewhere in the region is also of epithermal

origin, but is likely only indirectly related to the precious-metals mineralization.

Textural and mineralogical data show a good correspondence between alteration and mineralization

events in the rhyodacite and in the Tip Top, Riddle, and Brownie veins. The rhyodacite intrusive was very

likely the source of fluids and heat for emplacement of the adjacent veins.

Significant exploration potential exists on the property:

- additional mineralization like exists on the Tip Top Vein, along strike and down-dip. There is

a good probability of expanding the known mineralization by 25% or more.

- the Riddle Vein has received relatively little attention, and has never been drilled, in spite of

interesting gold assays from the vein. There is excellent potential for mineralization in the

Riddle Vein, of grade and size similar to that at Tip Top.

- a rhyodacite porphyry-related disseminate or stockwork system could exist beneath the

apparent center of intrusion, radiating faults, alteration, and (presumably) mineralizing fluids,

in the area south of the Tip Top adit and west of the Riddle adit.

- other areas such as the Pinon vein have scarcely been examined, and are worthy of attention.

The Tip Top property merits exploration for gold-silver targets in the vein areas, and also within the

rhyodacite stock. Either type could be explored independently, based on the objectives of the operator.

Based on previous practice, exploration work would typically be carried out between April and

November. Work could proceed with transfer of the current pending POO mineral exploration approval

held by Parker Mining.

26.0 RECOMMENDATIONS

Geological work

As a prelude to any drilling, it is recommended that further field mapping should be undertaken:

- Selective examination of drill core and cuttings in Reno. This could lead to better definition of

drill targets. Holes reported to have bottomed in "Jurassic granodiorite" should be examined to ensure that

the rock is not a coarser phase of the Tertiary rhyodacite.

- mapping of geology and alteration of the rhyodacite area between the Tip Top, Brownie,

Pinon, and Riddle areas to better-define the patterns of mineralization and alteration.

- rock-chip sampling should be carried out in promising areas of altered rhyodacite.

- mapping to clarify the age relationships among the various volcanic units, and the relationship

of host units to mineralization.




Riddle Vein area

- underground examination of the Riddle adit to describe structure and mineralization

- detailed mapping/sampling of the Riddle Vein area, followed by drill-testing with 3 or 4 holes.

Tip Top Adit Area veins

- re-examination of existing core in the area of the CSMT geophysical anomaly, to determine

whether a discernible increase in alteration or sulfide content occurs in the anomaly area, at the depths

attained by drilling.

- drilling of perhaps a dozen additional holes, with more possible as follow-up, building on the

resources defined by Gold Summit and Parker Mining.

Rhyodacite target

-The main rhyodacite mass between Tip Top and Riddle merits drilling to test for a mineralized

hydrothermal system related to the known mineralization in veins. A northwesterly fence of 3 or 4 holes

inclined to the southeast is recommended in the area between the Tip Top and the Riddle, drilled from

existing access roads.

- Several southeasterly holes between the Brownie and Tip Top are also warranted.




27.0 REFERENCES

Albers, J. P, and Stewart, J. H, 1972, Geology and mineral deposits of Esmeralda County, Nevada: Nevada Bureau of Mines and Geology, Bulletin 78, 80 pages.

Bailey, E.H., and Phoenix, D.A., 1944, Quicksilver deposits of Nevada: Univ. of Nev. Bull., v. 38, no. 5,

206 p.

Crowder, D.F., et al., 1972, Geologic map of the Benton quadrangle, Mono County, California, and

Esmeralda and Mineral Counties, Nevada: USGS Geologic Quadrangle Map GQ-1013, scale 1:62,500.

One sheet.

Casteel, M., 2004, Gold Summit Corporation, Tip Top project: internal report on Gold Summits's 2004

exploration program, dated July, 2004. 9 pages.

Devlin, B., 2001, Summary report on the 2001 diamond drilling program, Tip Top gold-silver property:

internal company report for Hecla Mining dated December, 2001. 23 pages plus appendices and large

map.

Fritz Geophysics, 2004, Tip Top project CSMT survey interpretation: consulting report prepared by Fritz

Geophysics for Gold Summit Corp., dated July 2004. 8 pages plus figures.

Hansley, Paula, 2013, Petrography of Tertiary Rocks, Tip Top Property, Esmeralda County, Nevada:

consulting report dated 14 September, 2013 prepared by Petrographic Consultants International, Inc. for

Parker Mining Corporation. 22 pages

Kappes, Cassiday & Associates, 2010, Tip Top Project - Report of Metallurgical Test Work: consulting

report dated February, 2010, prepared for Gold Summit Corporation, 119 pages in .pdf format.

McKee, E.H., 1982, Geologic map of Sugarloaf Roadless Area: USGS map MF-1400-A. Scale 1:62,500.

Moore, S. C., 1989, Tip Top project geology: map prepared for Arctic Precious Metals, Inc. dated 1

October, 1989. One sheet, scale 1 inch to 400 feet.

Nielsen, R.L., 1994, Tip Top Gold Prospect: consulting report prepared by GEOCON, Inc. for Dos

Amigos, Inc, dated 8 may, 1994. 3 pages plus photographs.

Parker Mining, 2005, Tip Top project geology: map at 200 feet per inch scale, compiled from previous

mapping and drilling by previous investigators. One map sheet.

Preuss, N, 2009, Sugarloaf Peak Project, Esmeralda County, Nevada, 43-101 Technical Report:

consulting report dated October 20, 2009, prepared by Nicole Preuss of Highland D&G, LLC for Gold

Summit Corp. 86 pages in .pdf format. Available on SEDAR.com.

Price, B.J., 2002, Technical Report, Tip Top -Brownie gold property: consulting report prepared for

Covik Development Corp., draft dated August 15, 2002. 52 pages plus appendices.




Schmauch, S. W., Horn, M. C., and Winters, R.A., 1983: Mineral Investigations of the Sugarloaf RARE

II area (No. 5296), Esmeralda and Mineral Counties, Nevada, MLA 96-83. 25 pages in .pdf format, plus

unpublished draft material about the Brownie Mine.

Smith, et al, 1983,: A mineral inventory of the Esmeralda-Stateline Resource Area, Nevada: Nevada

Bureau of Mines and Geology Open-File Report-83-11, 175 pages.

Vanderburg, W.O., 1937 A reconnaissance of mining districts in Mineral County, Nevada: U.S.Bureau of

Mines Information Circular 6941.

28.0 DATE AND SIGNATURE PAGE

I, Fred Barnard, of 1835 Alkire Street, Golden, Colorado 80401 USA, hereby attest that:

a) I am Certified Member #CPG-11406 of the AIPG (American Institute of Professional

Geologists), a Fellow of the Society of Economic Geologists, a member of the Geological Society

of America, and an Emeritus Member of the American Institute of Mineral Appraisers..

b) I graduated from the University of California at Berkeley with a B.A. degree in Geology 1963,

and from the University of Colorado at Boulder with a Ph.D. degree in Geology in 1968.

c) I have practiced my profession as an economic geologist continuously from 1968 to 2013, having

worked on exploration and mining projects, mainly for metallic minerals, including gold and

silver, in every Western state of the U.S. and in more than 40 other countries.

d) I have read the definition of “qualified person” set out in Canada National Instrument 43-101

(“NI 43-101”) and certify that by reason of my education, affiliation with a professional

association, and past relevant work experience, I fulfill the requirements to be a “qualified

person” for the purposes of NI 43-101, even though this report is not a NI-43-101 report.

e) This report is NOT a Technical Report as defined by Canada National Instrument 43-101. Parker

Mining Corporation is a private Nevada company, not listed publicly in any jurisdiction. This

report does NOT fulfill all requirements of a 43-101 Technical Report, but is formatted similarly

to 43-101 reports for the convenience of readers.

f) I visited the Tip Top property on 28 August, 2012, and again during June 26-30, 2013

g) I am a shareholder and Director of Parker Mining, I am not independent of that company.

h) I am not aware of any material fact or change with respect to the subjects of this report which is

not reflected in this report, the exclusion of which would make this report misleading.

Dated this 1st day of February, 2014.

Signed,

Fred Barnard, Ph.D., CPG

Documents

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