8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report:  November 4, 2019

(Date of earliest event reported)

 

Timberline Resources Corporation

(Exact name of registrant as specified in its charter)

Commission File Number: 001-34055

_____________________________________

Delaware	82-0291227
(State or other jurisdiction of incorporation)	(IRS Employer Identification No.)

101 East Lakeside Avenue

Coeur d’Alene, Idaho 83814

(Address of principal executive offices, including zip code)

(208) 664-4859

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, $0.001 par value	TLRS	OTCQB

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter).

Emerging growth company    o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    o

SECTION 7 – REGULATION FD

Item 7.01 Regulation FD Disclosure.

On November 4, 2019, the Company issued a press release entitled “Timberline Initiates Drilling at Paiute and Elder Creek Gold and Copper-Gold Projects, Battle Mountain, Nevada”. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information set forth herein and in the press release attached hereto is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended. The information set forth in Item 7.01 of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits

Exhibit No.      Description

99.1Press Release of Timberline Resources Corporation dated November 4, 2019* 

*The foregoing exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TIMBERLINE RESOURCES CORPORATION
Date: November 4, 2019	By:	/s/ Steven A Osterberg
		Steven A. Osterberg Chief Executive Officer

EXHIBIT INDEX

Exhibit No.      Description

99.1Press Release of Timberline Resources Corporation dated November 4, 2019* 

* Furnished to, not filed with, the SEC pursuant to Item 7.01 above.

EX-99

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

Timberline Initiates Drilling at Paiute and Elder Creek Gold and Copper-Gold Projects, Battle Mountain, Nevada

Coeur d’Alene, Idaho – November 4, 2019 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announces that drilling has commenced at the Paiute and Elder Creek Projects in the Battle Mountain District of Nevada.  

Paiute is a Joint Venture (JV) with Nevada Gold Mines (Barrick-Newmont) in Nevada, where the Company currently owns approximately 75% of the project. Drilling at Paiute will target both a broad corridor of structurally-controlled gold mineralization at surface and porphyry copper-gold mineralization at depth.

At Elder Creek, where Timberline is earning up to 65% ownership through a joint venture with McEwen Mining, the Company has identified a large copper oxide and copper-molybdenum-gold-silver sulfide porphyry system.  Drilling of 2 - 3 holes will offset the mineralization discovered in 2018 drilling.

Paiute Drilling — Follow-up on Historic Discovery Drill-hole and Gold in Outcrop

Timberline’s initial drilling (PDH19-01) at the Paiute project will test the subsurface projection of high-grade gold-silver mineralization (up to 13.4 grams/tonne (g/t) gold) identified in historic surface samples and confirmed by 2018 sampling (Table 1) within a NNE-trending structural zone measuring approximately 2,000 meters long by 500 meters wide (Figure 1)(see also press releases dated May 24, 2018 and November 29, 2018 at http://timberlineresources.co/press-releases, and Technical Report on the Paiute Copper-Gold Project, Humboldt and Lander Counties, Nevada, Effective November 28, 2018, Filed on SEDAR,  November 28, 2018).  

Table 1.  Assay results from 2018 Paiute Project Rock Sampling* **

SAMPLE	Au (g/t)	Ag (g/t)	SAMPLE	Au (g/t)	Ag (g/t)
18PC-001	0.345	6.8	18PC-012	3.25	59.5
18PC-002	17.2	723	18PC-013	0.271	0.5
18PC-003	0.609	20.5	18PC-014	0.336	2.7
18PC-004	1.425	1.7	18PC-015	0.01	0.2
18PC-005	0.304	9.4	18PC-016	0.211	2.4
18PC-006	0.214	3.6	18PC-017	42.9	527
18PC-007	1.22	8.8	18PC-018	2.94	36.7
18PC-008	0.967	1.5	18PC-019	10.4	80
18PC-009	0.667	4.3	18PC-020	1.82	6.4
18PC-010	4.12	58.4	18PC-021	2.18	13.5
18PC-011	0.12	5
*Grab samples are selective and do not represent the true mineralization of the prospect **The above assays were determined by ALS USA Inc. from grab samples. The samples were crushed and pulverized and a fraction was selected for analyses. Gold was determined by 30g Fire Assay with an Atomic Adsorption finish.  Samples assaying over 10 ppm gold were re-assayed and completed with a gravimetric finish.  Silver and base metals concentrations were analyzed using Aqua Regia ICP-AES.

Figure 1.   Paiute Project Geology, Rock Geochemistry, and Proposed Drill Holes

 

A second hole (PDH19-02) will test depth extension of historic hole 96-5 which terminated in 1.24 g/t gold over 4.6 m with visible, but un-assayed copper sulfide (chalcopyrite) mineralization within a porphyritic intrusion (Figure 1)(see press release dated May 24, 2018 at http://timberlineresources.co/press-releases).  

Timberline’s President and CEO, Steve Osterberg commented, “We are pleased to begin Timberline’s initial drill program at the Paiute project.  The historical drill results and our surface sampling, similarities to the nearby Lone Tree gold mine, and the proximity to porphyry gold-copper mineralization at the nearby, recently closed Copper Basin mine validate the exploration potential at Paiute within this metallogenically well-endowed district.”  

Cautionary Statement

Apart from recent sampling redisclosed in Table 1, all other geochemical data are considered “historical” and do not conform to NI 43-101 standards.  These data include historical drill information for which drill logs and assay certificates from industry standard laboratories are available and compiled in a database including UTM coordinates for each sample site.  Locations are available for all historical rock grab samples of which a representative group has been field verified; ALS assay certificates are available for rock samples collected between 2014 and 2017.  

Elder Creek Drilling — Follow-up on 2018 Copper Oxide and Gold-Silver Drill Intercept

Drilling at Elder Creek will off-set 2018 reverse circulation hole RCEC18-01 (Table 2; Figure 2) which intercepted a thick section of near-surface, copper-silver ± gold mineralization which includes copper oxide minerals. Two to three holes will test the lateral extent of the mineralization.  

Copper oxide mineralization in RCEC18-01 occurs within a fragmental (breccia) rock along the periphery of the large, circular Elder Creek porphyry system defined by mineral alteration zoning and a donut-shaped magnetic anomaly. The mineral alteration and associated stockwork veins, and a strong induced polarization anomaly remain open in all directions.   

Table 2.  Summary of Drill Hole RCEC18-01 Assay Intercepts at Elder Creek

Drill Hole	From (feet)	To (feet)	Total* (feet)	From (meters)	To (meters)	Total (meters)	Cu   (%)	Mo (ppm)	Au (g/t)	Ag (g/t)
RCEC 18-01	0	500	500	0	152.4	152.4	0.21	145	-	3.0
Including:
	0	270	270	0	82.3	82.3	0.28	147	-	4.0
	160	270	110	48.8	82.3	33.5	0.44	181	-	5.0
	195	210	15	59.5	64.0	4.6	0.55	132	0.33	13
	*True thickness of drill intercepts is unknown;

Mr. Osterberg continued, “The copper oxide mineralization at surface and in drill hole RCEC18-01, multiple geologic and geophysical indicators, and copper mineralization in deeper drilling (e.g. CCEC18-02) document that Elder Creek is a very large porphyry-related system.  Our drilling will provide valuable initial information on the areal extent and geometry of the copper oxide component of the mineralization occurring along the northern portion of the system.”  

Figure 2. Elder Creek Project Area Geology, Alteration Zoning, IP Anomaly, and Proposed Drill Holes  

 

Steven Osterberg, Ph.D., P.G., Timberline’s President and Chief Executive Officer, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this release.

About Timberline Resources   

Timberline Resources Corporation is focused on advancing district-scale gold exploration and development projects in Nevada. These include its 23 square-mile Eureka property, comprising the Lookout Mountain, Windfall, and Oswego projects which lie along three separate structural-stratigraphic trends defined by gold mineralization, the Paiute joint venture project with Nevada Gold Mines, and the Elder Creek joint venture with McEwen Mining.  All of these properties lie on the prolific Battle Mountain-Eureka gold trend.  Timberline also owns the Seven Troughs property in Northern Nevada, which is one of the state's highest-grade former gold producers.   Timberline has increased its owned and controlled mineral rights in Nevada to over 43 square miles (27,500 acres).  Detailed maps and NI 43-101 estimated resource information for the Eureka property, and NI 43-101 Technical Reports for the Elder Creek and Paiute Projects may be viewed at http://timberlineresources.co/.

Timberline is listed on the OTCQB where it trades under the symbol "TLRS" and on the TSX Venture Exchange where it trades under the symbol "TBR".

Forward-looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties.  These include, but are not limited to, statements regarding the advancement of projects, and exploration potential.  When used herein, the words "anticipate," "believe," "estimate," “upcoming,” "plan," “target”, "intend" and "expect" and similar expressions, as they relate to Timberline Resources Corporation, its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. There are no assurances that the Company will complete the earn-in on the Elder Creek project as contemplated or at all. Factors that could cause or contribute to risks involving forward-looking statements include, but are not limited to, changes in the Company’s business and other factors, including risk factors discussed in the Company's Form 10-Q for the quarter ended June 30, 2018.  Except as required by law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For Further Information Please Contact:   

Steven A. Osterberg

President and CEO

Tel:   208-664-4859

E-mail:  info@timberline-resources.com

Website:  www.timberline-resources.com