Buscar Company (OTC: CGLD) Announces Completion of Exploration Target Geological Report for the Treasure Canyon Gold-Copper Project, Plumas County, California
Rhea-AI Summary
Buscar Company (OTC: CGLD) announced completion of an Exploration Target Geological Report for its 100%-held Treasure Canyon gold-copper project in Plumas County, California, effective August 20, 2026. The Qualified Person, Martin L. Gallon, P.Geo., identifies three mineralization styles: auriferous quartz veins, placer gold, and a copper soil anomaly at Sulfide Ridge.
The conceptual exploration targets total approximately 1.9 million oz gold in primary veins, 57,900 oz gold in placer deposits, and 89.3 million lb copper at Sulfide Ridge, which are not mineral resources under S-K 1300 or NI 43-101. Gallon recommends a 29-hole, 10,378-foot diamond drill program costing about $2.48 million, plus an optional $250,000 underground program. Buscar lacks sufficient capital and will need additional, possibly dilutive, financing, and cannot start drilling until U.S. Forest Service and related permits are obtained.
Positive
- Exploration Target report completed for Treasure Canyon effective August 20, 2026
- Conceptual primary vein target ~3.7M tons at 0.5 oz/ton Au (~1.84M oz Au)
- Conceptual placer target ~100k–130k tons at 0.3–0.7 oz/ton Au (~57,900 oz Au)
- Conceptual Sulfide Ridge target ~10.9M tons at 0.41% Cu (~89.3M lb Cu)
- Defined Phase 1 program 29 diamond drill holes totaling 10,378 feet
- Budgeted Phase 1 cost approximately $2.48M plus optional $250k underground work
Negative
- Company discloses it has no mineral resources or reserves on any property
- Exploration targets are conceptual only and non-compliant with S-K 1300 and NI 43-101
- Historical Ada Vein assays unverified; exploration adit collapsed, original QA/QC unknown
- Insufficient capital to fund the ~$2.48M Phase 1 drill program
- Any required financing may be dilutive to existing CGLD shareholders
- Drill program cannot commence until permits are obtained; timing and approvals uncertain
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Project held by wholly owned subsidiary Eon Discovery Inc.; report by a Qualified Person identifies three styles of mineralization and recommends a 29-hole, 10,378-foot diamond drill program
The report was prepared by Martin L. Gallon, P.Geo., CPG, a qualified person (a "Qualified Person") as that term is defined under subpart 1300 of Regulation S-K of the
Highlights
- Exploration Target Geological Report completed on the Treasure Canyon Project, held
100% by wholly owned subsidiary Eon Discovery Inc., effective August 20, 2026. - Three distinct styles of mineralization identified: auriferous quartz veins, placer gold, and a copper soil anomaly at Sulfide Ridge.
- Historical underground sampling of the Ada Vein returned strongly variable gold values: working-face samples assayed up to 2.75 oz/ton and black sulfide vein material assayed 2.75–3.25 oz/ton, while a single isolated crosscut sample containing visible wire and flake gold assayed 29.2 oz/ton — a nugget-effect result that is not indicative of average grade (historical results; not verified).
- A 29-hole, 10,378-foot (approximately 3,163-meter) surface diamond drill program is recommended as the initial phase of work. The estimated cost of the program is approximately
$2.48 million - A Plan of Operations submitted to the
U.S . Forest Service in the first quarter of 2026 remains under review, with related permits advancing in parallel; the recommended program cannot commence until all required permits are obtained.
Project Overview
The Treasure Canyon Project comprises 54 unpatented BLM lode mining claims totaling approximately 1,105 acres within the Plumas National Forest (the "Property"). The Property lies roughly 85 miles west-northwest of
The Project hosts three distinct styles of mineralization:
- Auriferous quartz vein systems of Mother Lode affinity, comprising the Ada, Otto, Wayne, South, and North-South veins;
- Placer gold deposits along and adjacent to Lights Creek; and
- A copper soil anomaly at Sulfide Ridge, with characteristics interpreted as consistent with iron oxide copper-gold (IOCG) or porphyry-related mineralization.
Exploration Targets (Conceptual — Not mineral resources)
Because modern sampling of the Property has been limited, the report does not present Mineral Resources compliant with NI 43-101 or S-K 1300, and the Company has no mineral resources or mineral reserves, as those terms are defined under S-K 1300 and NI 43-101, on the Project or any other property. As a conceptual guide only, the Qualified Person estimated the following exploration targets ("Exploration Targets"), which are conceptual estimates of potential mineralization based on limited data and not compliant with S-K 1300 or NI 43-101, derived from surface traces of the vein systems, limited historical underground sampling, soil geochemistry, and assumed grades and continuity, with the vein target constrained to a nominal depth of 100 feet and the copper anomaly to 300 feet:
Target | Approximate tonnage and | Approximate contained metal |
Placer deposits | ~100,000 to 130,000 tons at 0.3- | ~57,900 oz gold |
Primary vein systems | ~3.7 million tons at 0.5 oz/ton Au | ~1.84 million oz gold |
Sulfide Ridge | ~10.9 million tons at | ~89.3 million lb copper |
These figures are conceptual in nature. Insufficient exploration has been completed to define a mineral resource ("Mineral Resources" are estimates of mineralization that meet the technical and confidence requirements of S-K 1300 or NI 43-101), and it is uncertain whether further exploration will delineate the targets as a mineral resource. These are in-place, conceptual estimates only: they take no account of metallurgical recovery, mining or processing costs, dilution, permitting or any other modifying factor, and the contained-metal figures must not be treated as an indication of economic value. Other estimates prepared for the Company place the vein target both below and above the tabulated figure, depending on the assumptions applied to continuity and tonnage.
Historical underground sampling of the Ada Vein exploration adit returned strongly variable gold values. Working-face samples assayed up to 2.75 oz/ton gold, and associated black sulfide vein material assayed 2.75 to 3.25 oz/ton. A single isolated sample from a crosscut, taken where wire and flake gold were visible, assayed 29.2 oz/ton; this is a nugget-effect result and is not indicative of average grade. These results are historical, were not verified by the Qualified Person or the Company, and are not necessarily representative of mineralization on the Property as a whole; the exploration adit has collapsed and cannot currently be re-sampled. The veins are comparable in style to those of the
Soil sampling at Sulfide Ridge defines copper as an anomaly larger than those associated with the nearby historic Engels and Superior mines, which together produced approximately 73,250 tons of copper plus gold and silver credits. Mineralization on nearby or geologically similar properties, including the
Recommended Work Program
Mr. Gallon recommends an initial surface diamond drill program of 29 holes totaling 10,378 feet (approximately 3,163 meters). The program is designed to:
- Test the geometry, width, and grade of the principal gold-bearing vein systems (Ada, Otto, and South veins); and
- Evaluate the continuity and grade of copper mineralization at Sulfide Ridge.
Additional recommendations include limited underground development from a new portal and follow-up geophysics once initial drill results are available. The estimated cost of the recommended Phase 1 drill program is approximately
A Plan of Operations was submitted to the
Management Commentary
"We are very pleased to receive this Exploration Target Geological Report from Martin Gallon," said Aleksandr Dekhtyar, Chairman and Chief Executive Officer of Buscar Company. "Treasure Canyon sits in a historically productive multi-commodity district with encouraging high-grade gold vein potential, active placer deposits, and a significant copper target at Sulfide Ridge. The recommended drill program gives us a clear, disciplined path to test these conceptual targets and determine whether Mineral Resources can be estimated in accordance with S-K 1300 and NI 43-101; there can be no assurance that drilling will result in the estimation of a mineral resource. We look forward to securing the remaining permits and commencing systematic exploration."
Qualified Person
The scientific and technical information in this press release has been reviewed and approved by Martin L. Gallon, P.Geo., a Qualified Person under NI 43-101 and S-K 1300. Because the underlying sampling predates Mr. Gallon's engagement and the exploration adit has collapsed, Mr. Gallon could not independently verify the historical sample data compiled by Thomas W. Heathman; original drill records are unavailable, and the quality-assurance and quality-control protocols applied to historical sampling cannot be assessed. The Company's business plan identifies Mr. Gallon as the proposed Chief Operating Officer of Eon Discovery under a projected staffing structure; however, he currently holds no office with the Company.
About Buscar Company
Buscar Company (OTC: CGLD) is a public company that holds and advances mineral exploration assets through its subsidiaries. The Company files periodic reports with the U.S. Securities and Exchange Commission. Its wholly owned subsidiary, Eon Discovery Inc., explores and advances mineral projects in the western United States, with the Treasure Canyon gold-copper project in Plumas County, California, as its flagship asset.
On behalf of the Board of Directors,
Aleksandr Dekhtyar
Chairman and Chief Executive Officer
Buscar Company (OTC: CGLD)
Investor and Media Contact
Buscar Company (OTC: CGLD)
9663 Santa Monica Blvd 688
Beverly Hills, CA 90210
Email: office@cgld.email
Cautionary Notes
The potential quantity and grade of the Exploration Targets described in this release are conceptual in nature. Insufficient exploration has been completed to define a Mineral Resource, and it is uncertain whether further exploration will confirm a mineral resource. These estimates represent exploration targets only and do not constitute mineral resources or mineral reserves as those terms are defined under National Instrument 43-101 or U.S. Securities and Exchange Commission Regulation S-K 1300. The Company's previously disclosed estimates relating to the Project — including the third-party appraisal announced in February 2022 — were not prepared in accordance with S-K 1300 or NI 43-101, are superseded by the report described in this release, and should not be relied upon.
This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws, including statements regarding the proposed drill program, permitting timelines, and the potential to define mineral resources. Forward-looking statements are based on expectations, estimates, and projections as of the date of this release and involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially, including, among others: the absence of any Mineral Resources or mineral reserves on the Project; the risk that drilling does not establish grade or continuity sufficient to support the estimation of a mineral resource; the Company's need for additional financing and the absence of any assurance that financing will be available on acceptable terms, or at all; the pendency of the Plan of Operations and other required permits and approvals; limitations of the historical data set, including unavailable drill records, unassessed quality-control protocols and the collapsed exploration adit; metallurgical uncertainty; commodity price volatility; the Company's concentration in a single exploration-stage property; annual claim-maintenance requirements; and seasonal, wildfire and other operating risks. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements except as required by law. Because the Company's common stock is a "penny stock," the statutory safe harbors for forward-looking statements under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 are not available to the Company; the Company instead relies on the meaningful cautionary statements set out above.
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company, nor shall there be any sale of the Company's securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
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SOURCE Buscar Company (CGLD)