centsability4me
4 years ago
South Grass Valley Project - March 2020 Drilling Update
https://www.nevadaexploration.com/news/2020/south-grass-valley-project---march-2020-drilling-update
March 31, 2020
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide an update regarding its reverse-circulation (“RC”) drilling program at its South Grass Valley Carlin-type gold project (the “Project”). Since beginning the program in January 2020, the Company has completed the first of its two planned drilling cycles at all four of its initial targets, and has begun the second cycle of drilling at its Golden Gorge and Freddie targets. NGE is pleased to share that early results have significantly improved the resolution of the Company’s geologic model at this covered, district-scale Carlin-type mineral system, and have focused the Company’s efforts at each of its target areas.
Specifically, the Company reports that:
At Water Canyon, NGE has completed first-cycle drilling – initial assays show highly-anomalous Carlin-type gold deposit (“CTGD”) pathfinder geochemistry, and once the Company has received all assays it will begin detailed logging of the sample chips;
At Golden Gorge, NGE has attempted two second-cycle drill holes, both of which successfully encountered lower plate, though the RC drill rig could not reach target depths at either location;
At Waterfall, NGE has received all assays for the first-cycle drill holes – in general, gold and pathfinders are lower than at Golden Gorge and Freddie;
At Freddie, based on results of first-cycle drilling, NGE has begun second-cycle drilling to sample thicker sections of the targeted lithologic units; however, similar to at Golden Gorge, the RC drill rig is performing below expectations in terms of its penetration rate; and
At East Golden Gorge, NGE believes that the target area may represent a common, deeper feeder system to the shallower mineralization seen up dip (to the west) at Golden Gorge and Freddie, and the Company expects to incorporate advancing Eastern Golden Gorge into its next phase of drilling.
Discussing the program, Wade Hodges, NGE CEO: “As we shared in our last update, the first cycle of drilling accomplished its objectives in terms of improving the resolution of our geologic model across each target area, as well as refining the larger geologic context across this otherwise-covered, district-scale project. Driven by this improved resolution, we’re seeing that the first holes of our second cycle of drilling are intersecting the predicted geologic units; however, the RC drill rig is not reliably completing holes down to the depths needed to test our targets.
“There is growing evidence that the intensity of mineralization increases towards the eastern edges of the Golden Gorge and Freddie target areas, where the favourable stratigraphic units dip deeper. With this in mind, now that we’ve been able to use the first-cycle RC drill holes to cost-effectively focus our targets, we’re now winding down the RC drilling program and looking at transitioning back to core drilling, in order to more confidently reach the depths needed to test what we believe have become even more compelling targets.
“In the coming weeks, once we’ve received all data from the RC drilling and incorporated it into our geologic model, we look forward to providing a substantive update on each target area, and lay out a detailed plan for our next phase of drilling, which we expect to consist of a number of highly-focused, deeper core holes.”
Figure 1
WATER CANYON TARGET
Target Description
Water Canyon is located at the intersection of a NNW lineament, a NW fault fabric, and a NE fault, to the east of an historic adit and trench workings exposed in outcrop. The target is supported by elevated mercury and arsenic in soils, as well as gold, antimony, and arsenic in groundwater. The concepts to be tested at Water Canyon are that of typical Carlin-type mineralization in Roberts Mountains Formation units below upper-plate cap rocks, as well as that of potentially higher-grade mineralization in hornfelsed lower-plate carbonates emplaced along a series of SE-plunging folds and structural trap sites.
RC Drilling Program Objectives
NGE’s objectives for its planned program are to test for evidence of ponding, mineralized Carlin-type hydrothermal fluids in low-angle trap sites sitting beneath the upper-plate cap rocks, as well as for gold and related pathfinders within hornfelsed host rocks close to the Grass Valley Stock.
Progress
During March, NGE completed its first cycle of drilling at Water Canyon, which consisted of two drill holes, the first located at the southwestern edge of the target (SGVR013), and the second located at the eastern edge of the target (SGVR014). In total, the Company has now completed 580 metres of RC drilling at Water Canyon, and has received complete assay results from its first hole, SGVR013.
First-Cycle Drill Holes
SGVR013 encountered bedrock at 20 metres, which based on preliminary logging consisted of alternating units of lower-plate Roberts Mountain Formation and granite, down to the bottom of the hole at 270 metres. NGE has now received assays for the entire hole, and will soon begin detailed logging of the sample chips. Of note, the assays show highly-anomalous CTGD pathfinder geochemistry, with arsenic up to 554 ppm, antimony up to 20.8 ppm, and thallium up to 1.5 ppm.
SGVR014 hit bedrock at 188 metres, in this case a mudflow unit sitting immediately on top of lower plate, comprised of a mudstone that began at 218 metres that transitioned into limestone at 278 metres until the bottom of the hole at 311 metres. Once full assay results for the hole are available, NGE will begin detailed logging.
NGE expects to provide a detailed update for Water Canyon once it has completed the detailed logging and incorporated the data into its geologic model.
GOLDEN GORGE
Target Description
Golden Gorge is located to the east of the Grass Valley Stock, where NGE’s earlier core drilling confirmed the presence of anomalous gold and CTGD pathfinders within silicified and marbled breccias along the intrusive margin surrounding the Grass Valley Stock. The target is supported by the coincident alignment of the highest gold-in-groundwater concentrations seen at the Project, which closely map the interface between the lower-plate bedrock units and the intrusive. The concepts to be tested at Golden Gorge are that of high-grade, oxide gold mineralization within the hornfelsed lower plate, as well as potential additional gold mineralization in breccia units.
RC Drilling Program Objectives
NGE’s objectives for its planned program are to establish the extent of and test for mineralization within the hornfels aureole on the east flank of the intrusive, as well as to test the western extension of the intensely-altered breccia units seen in the earlier drilling.
Progress
As described in the Company’s February 2020 update (https://www.nevadaexploration.com/news/south-grass-valley-project---february-2020-drilling-update), NGE has completed its first cycle of drilling at Golden Gorge, consisting of five relatively shallow holes along the western edge of the target, for a total of 900 metres. The majority of the first-cycle drill holes were located too close to the intrusive to test for mineralization. NGE has now received the remaining assays for holes SGVR008, SGV011, and SGVR012 (all of which encountered granite), and as expected there is little evidence for mineralization within the granite, as also seen in hole SGVR005.
These holes did, however, help to constrain the relative location of the intrusive margin, placing it further to the east. Of the first-cycle drill holes, only SGVR006 was located far enough away from the granite to intersect the projected favourable host units surrounding the intrusive margin, though the hole did not go deep enough to test the desired stratigraphy.
During March, driven by its updated geologic model and improved understanding of the location of the intrusive margin, NGE began its second cycle of drilling towards the eastern edge of the target, with the goal of sampling thicker sections of lower plate along the intrusive-margin, contact-aureole interface.
Second-Cycle Drill Holes
SGVR015 was located between NGE’s earlier core holes SGVC001, which had encountered granite, and SGVC005, which had encountered highly-anomalous CTGD pathfinder geochemistry associated with intensely-altered breccia units. Preliminary logging is still in progress, though NGE can confirm that SGVR0015 encountered lower-plate bedrock at 146 metres until the bottom of the hole at 311 metres, where the hole was terminated due to extremely slow penetration in densely silicified, hard, and broken bedrock.
SGVR016 was located approximately 250 metres ESE of SGVR006, with the goal of testing a deeper and thicker section of the altered and geochemically-anomalous lower-plate units seen in SGVR006. SGVR016 hit lower-plate bedrock at 67 metres, consisting of a non-calcareous mudstone. At 229 metres, the hole began to encounter silicification and decalcification, until the hole was stopped at 256 metres, again due to slow penetration in hard and broken bedrock.
With the RC drill rig at the Project not able to reach the planned target depths in either SGVR015 or SGVR016, these holes did not test the target concept at Golden Gorge. To continue to advance Golden Gorge, NGE is now looking at transitioning back to core drilling in order to reach the depths needed to test this very important area of the Project.
WATERFALL
Target Description
Waterfall is located within lower-plate bedrock in close proximity to the Grass Valley Stock, at the projected intersection of high-angle NW and NE-trending faults. The target is supported by evidence that some component of the high concentration of gold in groundwater centred over Golden Gorge could possibly have originated from the Waterfall area, as well as by a discrete zone of elevated arsenic in soil across the western part of the target. The concept to test at Waterfall is that of fracture-controlled mineralization within hornfelsed lower-plate.
RC Drilling Program Objectives
NGE’s objectives for its planned program are to: (1) define the interface between the lower-plate and the Grass Valley Stock in this area, and (2) test this geologic setting for evidence of mineralization.
Progress
As described in the Company’s February 2020 update, NGE has completed its first cycle of drilling at Waterfall, consisting of a NE-SW fence of three drill holes (SGVR004, SGVR009, and SGVR010) along the northwestern edge of the target, for a total of 966 metres. The first-cycle drill holes confirmed the presence of a thick section of the projected favourable carbonate host rocks above large areas of the Grass Valley Stock, which achieved this first objective of the program in confirming the target’s exploration concept.
During March, NGE received the remaining assays for SGVR009 and SGVR010. The results show that the hard siliceous mudstone and chert units in these holes contain similar anomalous CTGD pathfinder geochemistry to that seen in SGVR004, with SGVR009 containing gold up to 20 ppb, arsenic up to 129 ppm, and antimony up to 9.8 ppm, and SGVR010 containing gold up to 22 ppb, arsenic up to 287 ppm, and antimony up to 13.0 ppm. Based on a preliminary review, while anomalous, the gold and pathfinder concentrations at Waterfall appear lower and less consistent compared to those seen at Golden Gorge and at Freddie.
Now that all assays have been received, the Company is updating its geologic model at Waterfall, and expects to provide a detailed update once complete.
FREDDIE
Target Description
Freddie is centred northeast of Goodwin Butte, where initial drilling defined large zones of sulphide-bearing, silicified breccias within silty carbonate units that show evidence of low-angle thrust faulting. These favourable host units sit below a shale cap rock at the intersection of high-angle NNW and NE district-scale faults along an antiformal fold hinge, which together represent a characteristic combination of host rocks and mineral controls for CTGD mineralization. The target is supported by elevated gold and related pathfinders within the silicified breccias, as well as by strong geochemistry anomalies in soils and groundwater. The concept to be tested at Freddie is that of oxidized, silicified breccia-hosted gold mineralization, analogous to the mineralization at Goldrush.
RC Drilling Program Objectives
NGE’s objectives for its planned program are to: (1) determine the extent and controls of the silicification, and (2) test the up-plunge extensions of the pathfinder-bearing breccias seen in the earlier drilling for higher-grade mineralization.
Progress
As described in the Company’s February 2020 update, NGE has completed its first cycle of drilling at Freddie, consisting of four drill holes located in the southwestern portion of the target, for a total of 1,800 metres. All of the first-cycle drill holes encountered at least the top of the targeted favourable lithologies as well as alteration features seen in NGE’s earlier drilling, and together have established that the Carlin-type hydrothermal-system at the Project extends another kilometre to the WNW, which achieved the first objective of the program. Of the first-cycle drill holes, only SGVR002, the northwesternmost hole, was completed deep enough to test the full thickness of the targeted lithologies, and in general, the assay results for SGVR002 show a decrease in gold and pathfinder budgets relative to those seen in holes to the east, suggesting that the direction of hydrothermal fluid flow was from the east.
Based on the first-cycle drill results, NGE has selected second-cycle drilling locations, eastwards from SGVR002, to sample thicker sections of the now-confirmed up-plunge extension of the favourable lithologies seen in the earlier core drilling, which is the remaining second objective of the program, and during March, NGE began its second cycle of drilling.
Second-Cycle Drill Holes
SGVR017 is currently in progress, and is located approximately 400 metres SE of SGVR001, and approximately 600 metres, ENE of SGVR007. This hole was started with the goal of continuing considerably deeper than SGVR007, which encountered significant alteration and pathfinder geochemistry, but was stopped at only 238 metres. SGVR017 hit bedrock at 59 metres, consisting of a volcanic unit sitting on top of the lower plate, which began at 73 metres, made up of alternating limestone and chert. SGVR017 is presently at 116 metres and proceeding slowly in challenging hard and broken bedrock conditions.
Similar to at Golden Gorge, now that the first-cycle RC drill holes at Freddie have helped to focus the target, NGE is looking at transitioning back to core drilling to reach the targeted favourable lithologies at the depths projected by the earlier core holes.
EAST GOLDEN GORGE
As described in the Company’s February 2020 update, NGE engaged Mira Geoscience to prepare a constrained inversion model of the major geologic units at the Project by integrating data from NGE’s air magnetic, gravity, and core drilling programs. Based on the results of the inversion model, NGE believes that the linear, NNW-oriented, air magnetic feature located east of Golden Gorge and Freddie may represent a structurally-controlled trough or canyon-like topographic feature within the prospective Paleozoic units that has been filled with a magnetic mudflow unit, marking a regional-scale, high-angle structural feature. These types of major high-angle structural features represent critical, deep-seated fluid pathways at Nevada’s major CTGD camps, such as the Post-Gen fault, which cuts through the northern Carlin trend. Given its potentially important role in the larger South Grass Valley district, NGE believes East Golden Gorge is an important area of focus at the Project.
During March, NGE incorporated the latest drilling results to update its geologic model, which continues to suggest that the favourable lithologic units seen at Golden Gorge and Freddie dip downwards to the east, towards the East Golden Gorge lineament. The target concept at East Golden Gorge is the projected intersection of these favourable host units with a major, district-scale structure. First-cycle drilling at Freddie has provided evidence that the source direction of the mineralized hydrothermal fluid flow at the district is likely from the east at depth, which supports the concept that the fluids would have likely also passed through the Eastern Golden Gorge target area.
NGE believes that Eastern Golden Gorge may represent a common, deeper mineralized root or feeder system to the shallower mineralization seen up dip at Golden Gorge and Freddie, and expects that following this mineralization deeper at both targets, towards where they meet the Eastern Golden Gorge area, will be an important component of the Company’s next phase of drilling.
About the South Grass Valley Project
The Project is located approximately 50 kilometres south-southwest of the Cortez complex operated by Nevada Gold Mines (Barrick Gold Corp. and Newmont Mining Corp. joint venture) and Barrick Gold Corp.’s latest Fourmile discovery. As described in detail in the Company’s January 7, 2020, news release (https://www.nevadaexploration.com/news/2020/nevada-exploration-commences-2020-drilling-program-at-south-grass-valley-carlin-type-gold-project), NGE is presently completing a follow-up RC drilling program to achieve specific objectives at four target areas at the Project (Water Canyon, Golden Gorge, Waterfall, and Freddie), as well as developing an exploration plan for a fifth target (East Golden Gorge).
As NGE continues to advance the Project, per NI 43-101, 2.3(2), the Company must remind its stakeholders that the Project remains an exploration target for which the potential quantity and grade of any mineral resource is still conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
About Nevada Exploration Inc.
With mature, exposed, search spaces seeing falling discovery rates, NGE believes the future of exploration is under cover.
The Company has spent 15 years developing and integrating new hydrogeochemistry (groundwater chemistry) and low-cost drilling technology to build an industry-leading, geochemistry-focused, under-cover toolkit specifically to explore for large new Carlin-type gold deposits (“CTGDs”) in the more than 50% of Nevada where the bedrock is hidden beneath post-mineral cover. Nevada’s exposed terrains have produced more than 200 Moz of gold, and experts agree there is likely another +200 Moz waiting to be discovered under cover in Nevada.
NGE has completed the world’s largest hydrogeochemistry exploration program, focused on north-central Nevada, and is now advancing a portfolio of three district-scale projects in the heart of the Cortez (Battle Mountain-Eureka) Trend.
NGE’s most advanced project is South Grass Valley, located south of Nevada Gold Mines’ Cortez Complex. In 2019, NGE completed an initial program of 10 wide-spaced core holes across the project, and based on the Company’s resulting geologic model, NGE believes it has discovered a mineral system at South Grass Valley with the architecture and scale to support multiple Carlin-type gold deposits (CTGDs), and the potential to host an entire new district. NGE’s widespread groundwater, soil, and core sample geochemistry coverage has provided the data to prioritize specific targets for the Company’s next stages of exploration. NGE believes South Grass Valley is one of the most exciting new district-scale, Carlin-type projects in Nevada.
For more information, the Company’s latest videos are available at:
https://www.nevadaexploration.com/investors/media/
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
centsability4me
4 years ago
South Grass Valley Project - February 2020 Drilling Update
March 2, 2020
https://www.nevadaexploration.com/news/2020/south-grass-valley-project---february-2020-drilling-update
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide an update regarding its ongoing reverse-circulation (“RC”) drilling program at its South Grass Valley Carlin-type gold project (the “Project”). Since beginning the program in January 2020, the Company has completed the first of two planned drilling cycles at three of its targets, for a total of approximately 3,600 meters, for which the Company has now received and begun to review assay results for approximately the first 2,400 metres.
The Company is pleased to share that the drilling is proceeding on schedule, and that early results from the first three targets are providing additional confidence in the target concepts, described in detail in the Company’s November 15, 2019, news release and accompanying video (www.nevadaexploration.com/news/2019/nevada-exploration-advancing-four-carlin-type-gold-targets-at-south-grass-valley, and www.youtube.com/watch?v=XYMIH-mqIKo&feature=youtu.be).
Specifically, NGE is pleased to report that:
At Water Canyon, the first drill hole is now in progress;
At Golden Gorge, the first-cycle drill holes have validated the target concept, though were generally located too close to the intrusive – these holes have helped to better define the location of the intrusive margin, and will guide second-cycle drilling further from the intrusive, towards the east;
At Waterfall, the first-cycle drilling confirmed the presence of a thick section of favourable carbonate host rocks above the Grass Valley Stock, and NGE is now completing logging and is waiting for full assays to test for evidence of Carlin-type gold deposit (“CTGD”) mineralization;
At Freddie, first-cycle drilling confirmed that the large Carlin-type hydrothermal system encountered in earlier drilling extends another kilometre to the WNW; however, only one drill hole, located at the western edge of the target, was completed deep enough to test the targeted lithologic units – assays from this western drill hole, while still highly-anomalous, show decreasing gold and pathfinder budgets, and accordingly, for the second cycle of drilling, the Company will be looking to complete a series of deeper drill holes back towards the east; and
Based on a detailed review of a NNW-oriented geophysical feature located east of and parallel to Golden Gorge, and based on growing evidence that the source direction of the mineralized hydrothermal fluids at the district is likely from the east, the Company has identified a fifth target at the Project, called East Golden Gorge.
Discussing the ongoing program, Wade Hodges, NGE CEO: “We’re pleased with our relatively quick progress here on the ground. It’s been a big step forward for the Project to add so many new data points to our geologic model at this otherwise blind project, and the first cycle of drilling is achieving what it was designed to do. We’re validating the target concepts in terms of their geologic settings and improving the resolution of our model in each area, and importantly, we’re using this information to direct and narrow the focus of our second cycle of drilling.”
While NGE integrates the results from its first-cycle drill holes into its exploration model to plan the locations and target depths of the second-cycle drill holes, the Company is keeping one RC drill rig active at the Project, which is presently located at Water Canyon.
WATER CANYON TARGET
Target Description
Water Canyon is located at the intersection of a NNW lineament, a NW fault fabric, and a NE fault, to the east of a historic adit and trench workings exposed in outcrop The target is supported by elevated mercury and arsenic in soils above the target, and by elevated gold, antimony, and arsenic in the groundwater flowing past the target. The concepts to be tested at Water Canyon are that of typical Carlin-type mineralization in Roberts Mountains Formation units below upper-plate cap rocks, as well as that of potentially higher-grade mineralization in hornfelsed lower-plate carbonates emplaced along a series of SE-plunging folds and structural trap sites.
RC Drilling Program Objectives
NGE’s objectives for its planned program are to test for evidence of ponding, mineralized Carlin-type hydrothermal fluids in low-angle trap sites sitting beneath the upper-plate cap rocks, as well as for gold and related pathfinders within hornfelsed host rocks close to the Grass Valley Stock.
Progress
The company is currently drilling its first drill hole at Water Canyon, SGVR013, at the southwesternmost proposed hole location.
GOLDEN GORGE
Target Description
Golden Gorge is located to the east of the Grass Valley Stock, where previous-stage drilling confirmed the presence of anomalous gold and CTGD pathfinders within silicified and marbled breccias along the margins of the intrusion. The target is supported by the coincident alignment of the highest gold-in-groundwater concentrations seen at the Project, which closely map the interface between the lower-plate and the intrusion. The concepts to be tested at Golden Gorge are that of potentially high-grade, oxide gold mineralization within the hornfelsed lower plate, as well as the potential for additional gold mineralization in breccia units.
RC Drilling Program Objectives
NGE’s objectives for its planned program are to establish the extent of and test for mineralization within the hornfels aureole on the east flank of the intrusion, as well as to test the western extension of the intensely-altered breccia units seen in the earlier drilling.
Progress
NGE has now completed its first cycle of drilling at Golden Gorge. The first two drill holes of the program were located at the north end of the target (SGVR005 and SGVR006); the third hole was located at the southern edge of the target (SGVR008); the fourth hole was located at the western edge of the target (SGVR011); and the fifth hole was located in the north-central part of the target (SGVR012). In total, the Company has now completed 900 metres of RC drilling at Golden Gorge, and has received the first 305 metres of assay results, from holes SGVR005 and SGVR006.
First-Cycle Drill Holes
SGVR005 quickly entered granite beneath the alluvium. While often important for improving rock preparation, and often in direct contact with favourable host rocks, granitic rocks themselves are generally poor host units in CTGD systems. The Company stopped the hole at 110 metres. As expected, assays have confirmed that the granite in SGVR005 is not mineralized.
SGVR006 encountered a shallow package of favourable limestone and chert units that were exhibiting increasing silicification, sulfides, and marbleization, until the hole was unfortunately lost at 198 metres, well above its planned depth of 500 metres, due to drilling issues. While this relatively-shallow hole encountered the predicted favourable host units, which assays confirm contain anomalous CTGD trace element geochemistry (including arsenic up to 102 ppm, antimony up to 35 ppm, and thallium up to 1.6 ppm), SGVR006 was not completed deep enough to adequately test the intended target along the intrusive-margin, contact-aureole interface.
SGVR008 was located along the projected southern extension of the intrusive margin, and is still being logged; however, the dominant unit encountered in the hole was granite, which began immediately below the alluvium at 190 metres and continued to the bottom of the hole at 305 metres.
SGVR011 provided an initial drill hole near the middle of the NNW-oriented target area, along its western edge. Like SGVR008, SGVR011 immediately entered granite under the alluvium, in this case at 110 metres until the bottom of the hole at 151 metres.
SGVR012, located approximately 500 metres NNW of hole SGVR011, was designed to step further east, away from the intrusive, though it too intersected granite at 86 metres to the bottom of the hole at 146 metres.
Summary of First-Cycle Results
All first-cycle drill holes, with the exception of SGVR006, were located too close to the intrusive to test for mineralization within either the hornfelsed lower plate units or the altered breccia units. The holes did, however, help constrain the relative location of the intrusive margin, placing it further to the east. SGVR006 did not go deep enough to test the desired stratigraphy, however, the hole did confirm the presence of the projected favourable host units proximal to the intrusive, which further validates the exploration model at the target, as well as provides additional stratigraphic data to improve the resolution of the geologic model at this important intersection of features. Notably, this information was collected by using only relatively shallow drill holes (average depth of 180 metres), for a total of approximately 900 metres.
Plans for Second-Cycle Drill Holes
The Company is using the information from the first cycle drill holes to update its geologic model and is amending its drilling permit to complete the second cycle of drilling at Golden Gorge further from the intrusion, towards the east, which NGE expects to consist of three relatively-deep RC holes along the eastern edge of the target.
WATERFALL
Target Description
Waterfall is located within lower-plate bedrock closely associated with the Grass Valley Stock, at the projected intersection of high-angle, district-scale, NW and NE-trending faults. The target is supported by evidence that some component of the high concentration of gold in groundwater centred over Golden Gorge could possibly have originated from the Waterfall area. Additionally, there is also geochemistry support in the soil samples across the western part of the target, where there is a discrete zone of elevated arsenic. The concept to test at Waterfall is that of fracture-controlled mineralization within hornfelsed lower-plate.
RC Drilling Program Objectives
NGE’s objectives for its planned program are to establish what looks to be the irregular geometry of the interface between the lower-plate and the Grass Valley Stock in this area, and to test this geologic setting for evidence of mineralization.
Progress
NGE has now completed its first cycle of drilling at Waterfall, drilling a NE-SW fence of three drill holes (SGVR004, SGVR009, and SGVR010) along the northwestern edge of the target. In total, the Company has now completed 966 metres of RC drilling at Waterfall, and has received the first 305 metres worth of assay results, from hole SGVR004.
First-Cycle Drill Holes
SGVR004 encountered bedrock at 46 metres, consisting of a volcanic tuff that transitioned into an andesite mudflow unit. At 155 metres, the drill hole entered black, limey mudstone, and below that a hard, siliceous mudstone and chert unit, before finally entering granite at 280 metres, which continued until the bottom of the hole at 305 metres. Assay results confirm that the Paleozoic mudstone and chert units contain anomalous CTGD pathfinder geochemistry, with arsenic up to 83 ppm, antimony up to 21.8 ppm, and thallium up to 3.0 ppm.
SGVR009 was located 600 metres southwest of SGVR004. The first unit it encountered was a volcanic tuff under the alluvium at 80 metres, then the hole proceeded into a mixed mudflow unit, before entering the hard siliceous mudstone and chert unit at 177 metres, which continued until the bottom of the hole at 321 metres.
SGVR010 was then located another 600 metres to the southwest. The hole hit bedrock at 61 metres, in this a case a mixture of volcanic, granitic, and lower-plate cuttings characteristic of the mudflow unit encountered in SGVR004 and SGVR009, and then entered hard, siliceous mudstone and chert at 122 metres, which continued until the hole entered granite at 271 metres that continued until the bottom of the hole at 340 metres.
Summary of First-Cycle Results
The fence of three, first-cycle drill holes has confirmed the presence of a thick section (150+ metre) of potentially favourable carbonate host rocks sitting above large areas of the Grass Valley Stock, and has largely achieved this first objective of the program. Once all assays have been received and the three holes have been fully logged, the Company will evaluate if there is evidence for potential CTGD mineralization and consider its next plans for the Waterfall target.
FREDDIE
Target Description
Freddie is located northeast of Goodwin Butte, where initial drilling defined large zones of sulphide-bearing, silicified breccias within silty carbonate units that show evidence of low-angle thrust faulting. These favourable host units sit below a shale cap rock at the intersection of high-angle NNW and NE district-scale faults along an antiformal fold hinge, which together represent a characteristic combination of host rocks and mineral controls for CTGD mineralization. The target is supported by elevated gold and related pathfinders within the silicified breccias, as well as by strong geochemistry anomalies in soils and groundwater. The concept to be tested at Freddie is that of oxidized, silicified breccia-hosted gold mineralization, analogous to the mineralization at Goldrush.
RC Drilling Program Objectives
NGE’s objectives for its planned program are to determine the extent and controls of the silicification, and to test the up-plunge north-northwest extension of the pathfinder-bearing breccias seen in the earlier drilling for higher-grade mineralization.
Progress
NGE has now finished its first cycle of drilling at Freddie, which consisted of a grouping of three holes in the southwestern portion of the target (SGVR001, SGVR002, and SGVR003), as well as a fourth hole located 400 metres south of Goodwin Butte (SGVR007). In total, the Company has now completed 1,800 metres of RC drilling at Freddie, and has received the first 1,580 metres worth of assay results, from holes SGVR001, SGVR002, and SGVR003.
First-Cycle Drill Holes
SGVR001 entered a sequence of limestone and gray chert bedrock beginning at 15 metres, that transitioned into a silty mudstone unit at 247 metres, and then into a limey mudstone at 329 meters until the hole was lost due to drilling issues at 371 metres. While the hole did not go deep enough to reach and sample the targeted lithologic units, it did encounter evidence of silicification associated with anomalous gold and highly-anomalous CTGD pathfinder geochemistry (gold up to 41 ppb, arsenic up to 230 ppm, antimony up to 45.6 ppm, and thallium up to 1.8 ppm).
SGVR002 was located 850 metres north-northwest of SGVR001. It encountered bedrock at 70 metres, starting with tuffaceous and sedimentary rocks that sit on top of the Paleozoic, lower-plate bedrock, which began at 247 metres, and which consisted of a sequence of siltstone +/- black chert, black siliceous mudstone and chert, and black shale, that continued until the bottom of the hole at 628 metres. This relatively deep hole successfully tested the western, up-dip, extension of the targeted prospective lithologic units, based on the earlier core holes located more than a kilometre to the east. Of note, these targeted units exhibited significant decalcification and silicification, as well as evidence of silica-pyrite brecciation, and the assays have confirmed that these features are associated with anomalous gold and highly-anomalous CTGD pathfinder geochemistry, with Au up to 32 ppb, As up to 641 ppm, antimony up to 234 ppm, and thallium up to 7.6 ppm.
SGVR003 was sited 550 metres east of SGVR002, and encountered bedrock at 186 metres, consisting of an unidentified siltstone. At 186 metres, the hole transitioned into a sequence of black chert, limestone, and mudstone, that extended from 186 metres to the bottom of the hole at 585 metres. Based on detailed logging of the cuttings, the hole did enter and sample the top of the desired target lithology, however, it did not go deep enough to sample the entire thickness of the unit. Logging has confirmed that what was sampled contains silica-pyrite brecciation and silicification similar to the features seen in the nearby earlier core holes, and the assay results have confirmed that these features are associated with highly-anomalous CTGD pathfinder geochemistry, with arsenic up to 485 ppm, antimony up to 137 ppm, and thallium up to 4.3 ppm, as well as anomalous gold up to 97 ppb.
SGVR007, located south of Goodwin Butte, entered a tuff unit at 34 metres under the alluvium, and then entered a limestone and chert unit at 61 metres that transitioned into interbedded limestone and mudstone until the bottom of the hole at 238 metres. The chips are still being logged, though they show significant decalcification, with porous spongey textures, which the assays have confirmed are associated with highly-anomalous CTGD pathfinders, including a particularly anomalous zone with arsenic up to 1,215 ppm, likely associated with increased, fault-related, hydrothermal fluid flow.
Summary of First-Cycle Results
All of SGVR001, SGVR002, and SGVR003 encountered at least the top of the targeted favourable lithologies and alteration features, as seen in NGE’s earlier drilling, and have established that the Carlin-type hydrothermal system at the Project extends another kilometre to the WNW, which was the first objective of the program, and which further highlights the massive scale of the system.
Unfortunately, only SGVR002, the northwesternmost hole, was completed deep enough to test the full thickness of the target lithologies for mineralization, which is the second objective of the program. In general, the assay results for SGVR002 show a decrease in the total gold and pathfinder budgets seen in the earlier core holes to the east, which suggests that direction of hydrothermal fluid flow was from the east.
The first-cycle holes have provided lithologic contact information across new areas of the Project, that together have improved the resolution of the Company’s geologic model. Of note, the updated model suggests that in some parts of the Freddie target the prospective lithologic units may be in close contact with the alluvium, potentially providing the opportunity to source the anomalous gold and CTGD pathfinders seen in the groundwater and soils above the target.
Plans for Second-Cycle Drill Holes
For the second-cycle of drilling NGE plans to complete a number of deeper holes eastward from SGVR002, to collect samples across the full thickness of the prospective lithologies, which is the remaining second objective of the program.
EAST GOLDEN GORGE
As part of its ongoing review of the air magnetic and gravity geophysical data at the Project, NGE has been examining a NNW-oriented linear feature that sits east of and parallel to the Golden Gorge target. In October 2019, the Company engaged Mira Geoscience to integrate the results from its recently completed core drilling program at the Project with its geophysical datasets to build a constrained inversion model of the major geologic units at the Project. One of the focuses of this review has been to consider the potential geologic units and features that could be responsible for this NNW lineament.
Driven by the final outputs from this modelling, the Company believes the lineament seen in the air magnetics may represent a structurally-controlled trough, or canyon-like topographic feature, within the prospective Paleozoic units that has been filled with a magnetic mudflow unit, effectively marking a regional-scale high-angle structural feature. These types of major structural features represent critical, deep-seated fluid pathways at Nevada’s major CTGD camps, such as the Post-Gen fault, which cuts through the northern Carlin trend.
Based on the assay data from an increasing number of drill holes at the Freddie target, there is growing evidence that the general direction of the mineralized hydrothermal fluid flow at the district is likely from the east, which supports the presence of a district-scale structure in the East Golden Gorge area. Given its potentially important role in the larger South Grass Valley district, NGE believes East Golden Gorge is becoming an important fifth target area at the Project. As the Company refines its exploration model in this area, it looks forward to providing a more detailed introduction to the target.
About the South Grass Valley Project
The Project is located approximately 50 kilometres south-southwest of the Cortez complex operated by Nevada Gold Mines (Barrick Gold Corp. and Newmont Mining Corp. joint venture) and Barrick Gold Corp.’s latest Fourmile discovery. As described in detail in the Company’s January 7, 2020, news release (https://www.nevadaexploration.com/news/2020/nevada-exploration-commences-2020-drilling-program-at-south-grass-valley-carlin-type-gold-project), NGE is presently completing a follow-up RC drilling program to achieve specific objectives at four target areas at the Project (Water Canyon, Golden Gorge, Waterfall, and Freddie), as well as developing an exploration plan for a fifth target (East Golden Gorge).
As NGE continues to advance the Project, per NI 43-101, 2.3(2), the Company must remind its stakeholders that the Project remains an exploration target for which the potential quantity and grade of any mineral resource is still conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
About Nevada Exploration Inc.
With mature, exposed, search spaces seeing falling discovery rates, NGE believes the future of exploration is under cover.
The Company has spent 15 years developing and integrating new hydrogeochemistry (groundwater chemistry) and low-cost drilling technology to build an industry-leading, geochemistry-focused, under-cover toolkit specifically to explore for large new Carlin-type gold deposits (“CTGDs”) in the more than 50% of Nevada where the bedrock is hidden beneath post-mineral cover. Nevada’s exposed terrains have produced more than 200 Moz of gold, and experts agree there is likely another +200 Moz waiting to be discovered under cover in Nevada.
NGE has completed the world’s largest hydrogeochemistry exploration program, focused on north-central Nevada, and is now advancing a portfolio of three district-scale projects in the heart of the Cortez (Battle Mountain-Eureka) Trend.
NGE’s most advanced project is South Grass Valley, located south of Nevada Gold Mines’ Cortez Complex. In 2019, NGE completed an initial program of 10 wide-spaced core holes across the project, and based on the Company’s resulting geologic model, NGE believes it has a discovered a mineral system at South Grass Valley with the architecture and scale to support multiple Carlin-type gold deposits (CTGDs), and the potential to host an entire new district. NGE’s widespread groundwater, soil, and core sample geochemistry coverage has provided the data to prioritize specific targets for the Company’s next stages of exploration. NGE believes South Grass Valley is one of the most exciting new district-scale, Carlin-type projects in Nevada.
For more information, the Company’s latest videos are available at:
https://www.nevadaexploration.com/investors/media/
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Wade A. Hodges, CEO & Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
centsability4me
4 years ago
NVDEF NEWS 1/30/20 South Grass Valley Project - January 2020 Drilling Update
https://www.nevadaexploration.com/news/2020/south-grass-valley-project---january-2020-drilling-update
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide an update regarding its ongoing reverse-circulation (“RC”) drilling program at its South Grass Valley Carlin-type gold project (the “Project”). Shortly after beginning the program on January 6, 2020, the Company mobilized a second drill rig to the Project, and has now drilled a total of 2,146 metres. Based on preliminary geologic logging, the Company is pleased to report that the additional drill holes are improving both the resolution of and its confidence in its exploration model at the Project.
Specifically, NGE is pleased to report that: (1) the silicic blanket seen in the northern cluster of 2018-2019 core holes has now been intersected further to the west, beneath the Freddie target area; (2) drilling at the northern end of the Golden Gorge target area has encountered the hornfels contact aureole predicted based upon the Company’s exploration model; and (3) drilling at the Waterfall target area intersected a thick section (125 metre) of favourable black, limey mudstone and siliceous mudstone and chert, that together sit immediately above the granite associated with the Grass Valley Stock. The significance of these results is highlighted under each of the specific target areas below.
The Project is located approximately 50 kilometres south-southwest of the Cortez complex operated by Nevada Gold Mines (Barrick Gold Corp. and Newmont Mining Corp. joint venture) and Barrick Gold Corp.’s latest Fourmile discovery. As described in detail in the Company’s November 15, 2019, news release (www.nevadaexploration.com/news/2019/nevada-exploration-advancing-four-carlin-type-gold-targets-at-south-grass-valley) and accompanying video (www.youtube.com/watch?v=XYMIH-mqIKo&feature=youtu.be), NGE has designed a 9,500-metre reverse-circulation (“RC”) drilling program to achieve specific objectives at four target areas at the Project (Water Canyon, Golden Gorge, Waterfall, and Freddie). Below is a summary of activities to date at each target area.
Water Canyon
No drilling activity yet. NGE expects to commence drilling at the Water Canyon target area during February 2020.
Golden Gorge
NGE’s first drill hole of the program at the Golden Gorge target, SGVR005, encountered granitic bedrock at only 29 metres, which then continued to the bottom of the hole at 110 metres.
NGE’s second drill hole of the program at the Golden Gorge target, SGVR006 (located approximately 550 metres northeast of SGVR005) encountered bedrock at 46 metres, consisting of a package of limestone and chert to 140 metres, and then marble, calc-silicates, and increasing silicification with sulfides until 198 metres, where the drill hole was stopped due to drilling issues.
The presence of the shallow granite in SGVR005 confirms both the magnetic interpretation of granitic bedrock and the gravity interpretation that this bedrock is shallow. The significant changes in geology between the two holes, over a relatively short distance, are typical of the contact aureole interface surrounding large intrusives, which represent highly favourable depositional settings and known ore controls at Nevada’s major Carlin-type gold districts. These features of significance are what NGE is targeting at Golden Gorge, and this will be the interface that the Company expects to continue to test with additional holes at this target.
Waterfall
NGE’s first drill hole of the program at the Waterfall target area, SGVR004, encountered bedrock at 46 metres, which consisted of a volcanic tuff that transitioned into an andesite mudflow unit. At 155 metres, the drill hole entered black, limey mudstone; and below that a hard, siliceous mudstone and chert unit; before finally entering granite at 280 metres, which continued until the bottom of the hole at 305 metres.
Importantly, based on the geologic units encountered in SGVR004, NGE is pleased to report that the granite-limestone interface immediately beneath Waterfall is resolving into a more complex geologic domain than simply a large mass of granite, within the larger magnetic-high feature seen in the airborne magnetic data. This first drill hole in this area of the Project supports the Waterfall exploration model of favourable host units located within close proximity to the Grass Valley Stock, immediately beneath the highest concentrations of gold in groundwater at the Project. NGE expects to complete a number of additional holes to continue to refine its understanding of the granite-limestone interface across the target.
Freddie
NGE’s first drill hole of the program at the Freddie target area, SGVR001, was located immediately next to Goodwin Butte, and very quickly entered a limestone and gray chert bedrock unit at 15 metres. The Paleozoic stratigraphy that it encountered closely followed that of core hole SGVC006, 263 metres to the east, and similarly, also encountered silicification features, in this case at 329 metres. Unfortunately, silicified chips clogged and damaged the tri-cone bit, and subsequent re-entry was unsuccessful due to collapsing limestone and chert bedrock, which resulted in stopping the hole at 371 metres.
NGE’s second drill hole of the program at the Freddie target area, SGVR002, was located 850 metres NNW of SGVR001, and was completed to a total depth of 628 metres. The drill hole hit bedrock at 70 metres, and intersected tuff then likely mudflow, before entering a sequence of siltstone +/- black chert, black siliceous mudstone and chert, and bottoming in black shale.
NGE’s third drill hole of the program at the Freddie target area, SGVR003, is located 550 metres east of SGVR002, and remains in progress, currently at 536 metres. SGVR003 hit bedrock at 168 metres, entering a likely mudflow unit sitting on top of a sequence of siltstone, black chert, limestone, and mudstone, from 186 metres to the current bottom of the hole, which included silica-sulfide breccia units as well as other alteration features that will be further examined with the addition of geochemistry data, once assays are available.
The alteration, and specifically the silicification, seen in holes SGVR001 and SGVR003 have confirmed that the silicification at the target horizon, based on NGE’s earlier core holes, extends towards the west, as well as have also confirmed that both the lithology and hydrothermal alteration plunge towards the east, as predicted based on the NGE’s exploration model. NGE plans to use the geochemistry results from these first three holes at Freddie to guide its next series of drill holes at the target.
Recent Events
On January 17, 2020, NGE Senior Technical Consultant, Simon Griffiths, presented a talk entitled “An integrated, mineral systems approach to generating & advancing blind Carlin-type gold projects” at the IMDEX Xploration Symposium in Vancouver. All talks from the symposium were video taped, and will be released by the organizers over the coming months. In the interim, the slides from the presentation are now available on NGE’s website at: https://www.nevadaexploration.com/investors/presentations/
On January 21, 2020, NGE President, James Buskard, presented a talk entitled “Generating and Advancing Blind Targets Using Hydrogeochemistry: An Integrated and Multi-Scale Approach” as part of the 2020 Theme Session: “Seeing the Unseeable” at AME Roundup in Vancouver. The talks from the session were not video taped, though the slides from the presentation are now available on NGE’s website at: https://www.nevadaexploration.com/investors/presentations/
Upcoming Event
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming industry event:
PDAC (Toronto)
Sunday to Wednesday, March 1 to 4, 2020
Booth: IE2527
https://www.pdac.ca/convention
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale Carlin-type gold projects in north-central Nevada. NGE is led by an experienced management team that has been involved in several major discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine).
NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program. With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets.
By integrating hydrogeochemistry with conventional exploration methods, NGE is leading the industry to open this important new search space to explore for large new Carlin-type gold deposits.
For more information, the Company’s latest videos are available at:
https://www.nevadaexploration.com/investors/media/
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
centsability4me
5 years ago
NEWS 8/1/19 Nevada Exploration July 2019 Exploration Update, South Grass Valley Gold Project, Battle Mountain–Eureka (Cortez) Trend, Nevada
https://www.nevadaexploration.com/news/2019/nevada-exploration-july-2019-exploration-update-south-grass-valley-gold-project-battle-mountaineureka-cortez-trend-nevada
Nevada Exploration July 2019 Exploration Update, South Grass Valley Gold Project, Battle Mountain–Eureka (Cortez) Trend, Nevada
August 1, 2019
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide an update on exploration activities at its South Grass Valley Project (the “Project”). Following up from the successful Phase 1 core drilling program the Company completed earlier this year, NGE is now drilling its second deep (>600 metre) diamond core hole of its spring–summer 2019 field program, representing another step-out to the north along the extension of the mineralized Carlin-type hydrothermal system discovered by the Phase 1 program. Based on the geologic logging and assays received to date from these new drill holes and the results of the Phase 1 program, NGE believes that it has defined a large blanket of silicification at South Grass Valley, with a strike length of more than three kilometres, that is consistent both in terms of size and architecture with the zones of silicification surrounding large Carlin-type gold deposits (“CTGDs”) within the Carlin and Battle Mountain–Eureka trends. NGE’s hole SGVC011 is currently ongoing and presently drilling through a multi-phase silica-sulfide breccia, starting at 630 metres and continuing to at least 770 metres, indicative of the characteristic hydrothermal processes associated with CTGDs in Nevada.
Discussing the ongoing program, Wade Hodges, NGE’s CEO: “Large CTGDs cannot exist without affecting large volumes of adjacent bedrock. With our latest drill holes, we have direct evidence that suggests 1.8 cubic kilometers (and likely more) of lower-plate bedrock, the characteristic host rocks for CTGDs, has been highly altered and mineralized by pregnant Carlin-type hydrothermal fluids. This incredible volume of altered and mineralized bedrock simply cannot exist without major, complex, and long-lived fault zones having acted as a plumbing system to move mineralizing hydrothermal fluids to and through these rocks.
“Carlin-type hydrothermal fluids will deposit silica, gold, and related pathfinder elements when they move upwards and encounter changes in pressure, temperature, and chemical conditions. As this depositional process continues the silica tends to seal off the conduits that have moved the fluids. With nowhere to go, the fluids build up pressure until they are released and form a breccia, often triggered by a structural or tectonic event, at which point, the fluids rise again, depositing silica and gold-bearing pyrite until the conduits are sealed off once more. What ultimately builds up the gold grades associated with large CTGDs is the repeated focusing of this process within the same volume of suitable host rock. What we’re seeing in our drilling at South Grass Valley is this exact type of multi-phase Carlin-type process over a large area and it’s very exciting. This is the size and quality of Carlin-type hydrothermal system we’ve been looking to define at the early stages of the Project, and we’re extremely pleased to be able to share that we’ve reached this milestone, at what is a camp-scale target, with less than a dozen drill holes. Our exploration program remains ongoing at the Project, and we look forward to updating our stakeholders as the new datasets improve and refine our exploration model.”
Spring–Summer 2019 South Grass Valley Work Program
The spring–summer 2019 field program is following up from the Company’s recently completed eight-hole Phase 1 program at the Project. The first diamond core hole of this follow-up program, SGVC009, was a 540-metre step-out to the northeast of the northernmost Phase 1 drill holes. As described in the Company’s June exploration update (see news release dated June 27, 2019), the bottom of SGVC009 contained the most intense multi-phase silicification and secondary pyrite seen to date at the Project. However, the hole was stopped prematurely due to difficult drilling conditions at 621 metres.
Based on these significant features seen at the bottom of SGVC009, NGE continued to step out towards the north, locating SGVC010 400 metres northwest of SGVC009, with the objectives of: (1) continuing to test the northern extension of the Carlin-type hydrothermal system encountered by the Phase 1 drill holes to the south, as well as (2) establishing more information about the vertical extent of the silicification now seen in most of the drill holes. Unfortunately, SGVC010 also encountered difficult drilling conditions and was abandoned at 348 metres shortly after encountering altered, lower-plate carbonate host rocks. NGE immediately offset SGVC010 with SGVC011, located on the same drill site. SGVC011 remains in progress, currently at a depth of 770 metres, and importantly is again into bedrock that contains intense multi-phase silicified breccia and secondary pyrite – even more so than seen in the bottom of SGVC009. The Company plans to keep drilling SGVC011 deeper as long as the bedrock continues to exhibit significant alteration, brecciation, and mineralization, provided drilling conditions permit. It should be noted that the difficult drilling conditions encountered in the recent drill holes are typical in areas of complexly-broken bedrock commonly encountered in and around large CTGDs.
The combined drilling results highlight a consistent sequence of alteration zoning across the Project, specifically with a generally oxidized upper argillic cap zone, characterized by calcite veining, bleaching, decalcification, clay alteration, and dissolution brecciation that transitions to silicification with depth. Ten of the eleven holes encountered this transition, and seven of these drill holes continued deeper into pervasive silicification, marked by multi-phased silicified breccias with black, sooty, secondary pyrite. The consistent alteration zoning with depth throughout the drill holes suggests a large blanket of silicification extends N-S along the axis of the Project for a length of at least 3,500 metres, with a likely width of more than 1,000 metres. Reviewing the drill assays for these drill holes, the geochemistry defines a pattern of anomalous CTGD pathfinder elements scattered throughout the upper argillic cap above the silicification, then increasing concentrations of gold and CTGD pathfinders once into the silicification. The alteration, geometry, and associated geochemistry of this extensive blanket of silicification that extends through the favourable lower-plate host rocks at South Grass Valley is typical in terms of its size and architecture with the zones of silicification surrounding large CTGDs within the Carlin and Battle Mountain–Eureka trends, and is consistent with the scale of Carlin-type hydrothermal system required to support significant CTGD mineralization. While the blanket of silicification sits relatively deep in the drill holes to date, the structural interpretation of the E-W oriented drill fences shows that this feature dips towards the east, and is likely present at shallower depths (closer to the surface) towards the west.
In terms of assay results for the latest drill holes, the Company has received all results from SGVC009. As described in more detail in the Company’s news release dated June 27, 2019, SGVC009 entered a sequence of lower-plate carbonate rocks at 412 metres, beneath alluvium on top of Tertiary ash-flow tuff, volcanic mudflow breccia, and other volcaniclastic sediments. Importantly, the mudflow contains cobbles of rounded volcanic, upper plate, and lower plate rocks, as well as more angular fragments of silicified breccia containing anomalous gold and CTGD pathfinders that are identical to the silicified breccia units seen at the bottoms of many of the drill holes. The features of the breccia fragments indicate that they have only travelled a short distance, which is significant because it further suggests the mineral system extends upwards, closer to the surface, towards the west. The first bedrock unit encountered in SGVC009 at 412 metres is clay-altered, bleached, and oxidized Roberts Mountains Formation. At 570 metres the alteration abruptly changes to silicification, which intensifies with depth. Consistent with the earlier drill holes, gold and CTGD pathfinder concentrations in SGVC009 increase with depth together with the intensity of the pyritic, multi-phase brecciation. In addition to the geochemistry and geologic logging, oriented core measurements have added considerable new information about the orientation of bedding planes, structures, and veins, and their relationship to the changes in lithology and alteration. This new information is guiding an improved understanding of the structural geology at the Project, which is a primary control for mineralization, and which will be an important input for the next phases of exploration. A down-hole strip log for SGVC009, including lithology, structure, alteration, and assay results for gold plus the CTGD pathfinders, as well as core photos, is available at: http://www.nevadaexploration.com/_resources/SGVC009_Data_Package.pdf.
In parallel with the core drilling program, the Company has also begun its next phase of groundwater sampling at the Project to: (1) improve the resolution of its hydrogeochemistry data above and proximal to major structural features across the primary target area; and (2) extend its data coverage south of the main target area, over the projected extension of the Carlin-type hydrothermal system discovered by the Phase 1 drill program. To maximize sample coverage, at this time the Company is using its smaller borehole equipment, rather than its larger Scorpion drill rig, because the smaller equipment is able to collect samples more quickly to cover a larger area. So far, NGE has completed 30 additional boreholes, from which it has collected a total of 73 new groundwater samples. Preliminary results from field-measured parameters are encouraging, and NGE expects to continue the groundwater sampling borehole program into August.
Also, as outlined in the Company’s news release dated May 16, 2019, building on the success of the Company’s initial soil mercury program in complementing its hydrogeochemistry data to domain the Project and focus exploration efforts, NGE has begun a large follow-up program to significantly increase its soil mercury sample coverage. The objectives of the program are to: (1) infill the existing sample lines by reducing line spacings from 400 metres to 200 metres – consistent with the sampling strategy used to define the soil-mercury anomaly over Cortez Hills; and (2) expand sample coverage to the north and south, along the projected extension of the favourable geologic features seen in the Phase 1 drilling. The planned program consists of 18 additional sample lines consisting of more than 1,800 new samples, effectively doubling the previous coverage. Through July, the Company has now collected 1,440 of the samples.
As NGE continues to advance the Project, per NI 43-101, 2.3(2), the Company must remind its stakeholders that the Project remains an exploration target for which the potential quantity and grade of any mineral resource is still conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
South Grass Valley Project
NGE’s South Grass Valley Project is a covered (blind) gold exploration project located approximately 50 kilometres south-southwest of the Cortez complex operated by Nevada Gold Mines (Barrick Gold Corp. and Newmont Mining Corp. joint venture), within the specific region of north-central Nevada known to host world-class CTGDs. NGE originally identified and staked the Project based on elevated concentrations of gold and CTGD pathfinder elements in groundwater that the Company discovered during a generative basin-scale hydrogeochemistry-supported exploration program. Since acquiring the Project, NGE has completed: an in-fill borehole groundwater sampling program, detailed air magnetic and gravity geophysics surveys, a soil geochemistry sampling program, and most recently, a Phase 1 core drilling program.
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several major discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
centsability4me
5 years ago
Nevada Exploration June 2019 Exploration Update, South Grass Valley Gold Project, Battle Mountain – Eureka (Cortez) Trend, Nevada
https://www.nevadaexploration.com/news/2019/nevada-exploration-june-2019-exploration-update-south-grass-valley-gold-project-battle-mountain--eureka-cortez-trend-nevada
June 27, 2019
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide its stakeholders with an update on its June 2019 exploration activities. Since beginning its 2019 field program at South Grass Valley (the “Project”), the Company has completed drill hole SGVC009 to a depth of 621 metres, and is now drilling hole SGVC010, which is located 500 metres northwest of SGVC009. Preliminary logging has confirmed that the significant Carlin-type geologic features seen in NGE’s earlier drill holes extend northwards beyond the limits of the Phase 1 drilling area, and has established that the bottom of SGVC009 contains the most intense multi-phase silicification and secondary pyrite seen to date at the Project.
Discussing the ongoing drilling, Wade Hodges, NGE’s CEO: “We’re off to a great start. Our Phase 1 drilling established we have a large Carlin-type hydrothermal system at the Project, along with a characteristic gold and pathfinder budget. The next step in systematically advancing and derisking the Project is to establish places where geologic conditions may have provided suitable catalysts, or controls, to focus the deposition of gold to form higher grades. Not only did SGVC009 bottom in the best-looking rocks we’ve seen so far in terms of the type and degree of alteration they contain, importantly, we’re also now seeing abrupt transitions in alteration minerals and textures coincident with abundant secondary pyrite veining, which are indicative of the sorts of rapid changes in solution chemistry that are often associated with zones of efficient gold deposition. With such positive encouragement from SGVC009, we’ve stepped to the north again with SGVC010, and this time will be working hard to get the drill hole deeper to collect more information from these highly prospective units.”
South Grass Valley Gold Project, Battle Mountain – Eureka (Cortez) Trend, Nevada
Drill hole SGVC010
As described in more detail in the Company’s news release dated May 16, 2019, based on the results of Phase 1 drilling, NGE has built a geologic model that domains the Project into smaller target areas, and suggests significant potential to identify additional targets. Driven by this model, NGE’s plan for its current phase of exploration is to use a combination of diamond core drill holes, reverse circulation drill holes, and soil sampling to add geologic, geochemistry, and stratigraphic information, both within and beyond the limits of its recently-completed Phase 1 drilling program, with the objectives of: (1) establishing the extent and size of the mineralized Carlin-type hydrothermal system at the Project; and (2) prioritizing targets for infill drilling.
Drill hole SGVC009 is located 600 metres north of the northernmost Phase 1 drill holes, beneath coincident gold-in-groundwater and mercury-in-soil anomalies along the NNW projected extension of the Carlin-type system discovered during the Phase 1 program. SGVC009 entered lower-plate bedrock at 412 metres, consisting of interbedded finely laminated mudstone and limestone units of the Roberts Mountains Formation, beneath a sequence of alluvium on top of tertiary-aged ash-flow tuff, mudflow breccia, and other ash-fall sediments containing highly silicified boulders likely derived from nearby source areas. Beginning at a depth of 487 metres, these lower-plate units exhibited increasingly argillized, bleached, and decalcified thinly laminated silty limestone indicative of vertical chemical zonation, which at 570 metres abruptly transitioned to abundant black sooty pyrite, brassy late-stage pyrite blebs, and stringers contained in a vuggy, shingle breccia texture showing increasing silicification with depth, supporting pronounced vertical zonation. Importantly, the pyritic silicification is accompanied by volume loss, which is commonly associated with gold mineralization in Carlin-type gold deposits. Silicification and secondary pyrite continued to increase in intensity with depth; however, due to challenging drilling conditions, on day 32 of drilling SGVC009, NGE was forced to abandon the hole at 621 metres. Based on early logging, the sooty pyritic silicification seen at the bottom of SGVC009 is similar to that seen in the bottoms of holes SGVC002, SGVC004, SGVC006, and SGVC007, which together now cover an area measuring more than three kilometers in strike. All SGVC009 core samples have now been submitted for assay.
Following up on the notable increase in silicification and secondary pyrite seen towards the bottom of SGVC009, at the northern limit of the holes drilled to date, NGE moved another 500 metres to the northwest for drill hole SGVC010. To avoid the drilling challenges encountered in SGVC009 and maximize the odds of completing SGVC010 deeper into the prospective stratigraphy, NGE has cased SGVC010 down to 323 metres, into what is believed to be the start of the lower-plate units, and is now continuing to core drill the hole.
In addition to the core drilling program, NGE’s follow-up soil-mercury sampling program is well underway, adding additional sample coverage at both the northern and southern ends of the Project. NGE has not yet begun its anticipated Scorpion drilling program as its field personnel are focused on supporting the core drilling program.
South Grass Valley Project
NGE’s South Grass Valley Project is a covered (blind) gold exploration project located approximately 50 kilometres south-southwest of the Cortez complex operated by Nevada Gold Mines (Barrick Gold Corp. and Newmont Mining Corp. joint venture), within the specific region of north-central Nevada known to host world-class CTGDs. NGE originally identified and staked the Project based on elevated concentrations of gold and CTGD pathfinder elements in groundwater that the Company discovered during a generative basin-scale hydrogeochemistry-supported exploration program. Since acquiring the Project, NGE has completed: an in-fill borehole groundwater sampling program, detailed air magnetic and gravity geophysics surveys, a soil geochemistry sampling program, and most recently, a Phase 1 core drilling program.
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several major discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
centsability4me
5 years ago
Nevada Exploration Welcomes Simon Griffiths as Technical Advisor
February 28, 2019
https://www.nevadaexploration.com/news/2019/nevada-exploration-welcomes-simon-griffiths-as-technical-advisor
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to welcome Simon Griffiths as a Technical Advisor.
Simon is an economic geologist with 28 years of mineral exploration experience with major mining companies around the world. Most recently, Simon spent the past 10 years working with Barrick Gold Corp., providing technical leadership on a global scale as Chief Geochemist, Global, and then Chief Geologist, South America. As Chief Geochemist, Simon provided field-based and strategic geochemical support to Barrick’s exploration programs across six continents (from regional grass-roots up to and including pre-feasibility studies), promoted the application of new geochemical tools specifically to support exploration through cover, and contributed to developing the exploration models (including 3D geochemistry signatures and footprints) at Barrick’s Carlin-type gold deposits (CTGDs) in Nevada, as well as their other deposits. As Chief Geologist, South America, Simon implemented Barrick’s global project generation approach to the South American continent, and led innovation to develop and apply new exploration approaches that resulted in faster and lower-cost discoveries.
Discussing Simon’s addition, NGE’s President, James Buskard: “We are excited to welcome Simon to the team. From executing successful generative exploration programs internationally to building exploration models at some of Nevada’s largest Carlin-type gold deposits, Simon brings a wealth of experience that compliments both our regional-scale exploration program, as well as our drilling and exploration efforts at our projects. Developing innovative exploration tools to explore for new deposits in covered terrains, where the bedrock is hidden beneath sand, gravel, and other types of cover, is unquestionably the future of exploration. Simon has championed innovation at the highest levels throughout the exploration pipeline, and we are fortunate to be able to incorporate his expertise as we advance our industry-leading hydrogeochemistry-supported exploration program, as well as push to leverage new low-cost drilling platforms, such as our Scorpion drill rig, to lower the costs and improve the success rates of exploring in Nevada’s highly-prospective covered valley basins. Having now spent time with our team in Nevada to help with the geologic and geochemical review and interpretation of the drilling results at our South Grass Valley Project, Simon is already helping guide our exploration model at the Project, and we look forward to his ongoing input as we work to advance our projects.”
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
centsability4me
5 years ago
Nevada Exploration Reports Latest Drill Results from South Grass Valley Project, Battle Mountain – Eureka Trend, Nevada
February 26, 2019
https://www.nevadaexploration.com/news/2019/nevada-exploration-reports-latest-drill-results-from-south-grass-valley-project-battle-mountain--eureka-trend-nevada
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to report the next round of results from its drilling program at its South Grass Valley Project (the “Project”), where the Company’s early, wide-spaced drill holes continue to intersect characteristic Carlin-type gold deposit (“CTGD”) geologic controls, together with anomalous and highly-anomalous CTGD pathfinder element concentrations over a target area at least 3,000 metres along strike.
Discussing the latest results, NGE’s CEO, Wade Hodges: “As we keep taking these large step outs, we’re seeing that this system is still open, really in all directions and at depth. The last three holes all bottomed in increasing silicification, which we now know in SGVC006 and SGVC007 is associated with consistent runs of increasing gold concentrations. With such a wide spread of drill holes across our target area, that together have tested a significant thickness of the regional stratigraphic sequence, we have the pieces to look closely at the different bedrock units, interpret the project geology, and focus on identifying the controls to vector towards potentially high-grade mineralization. We are now busy using these latest assay results to update our exploration model and lay out a clear plan for the next phase of drilling.”
Latest Drill Results
The most recent drill holes at the Project have been completed at the north end of the Project (holes SGVC006 and SGVC007) and in the middle of the Project area (hole SGVC008).
As described in the Company’s news release dated January 23, 2019, SGVC006 was located 600 metres northwest of SGVC002, and entered lower-plate limestone at 158 metres below the gravel, which continued along with alternating mudstone units to the bottom of the hole at 650 metres. The upper part of SGVC006 showed alteration features similar to the upper part of SGVC002, with decalcification, dissolution, and disruption textures. The bottom 230 metres of SGVC006 encountered black, carbonaceous, debris flows with significant diagenetic pyrite exhibiting intense silicification, brecciation, and high levels of secondary pyrite.
Following up on the favourable geologic units seen in SGVC006, SGVC007 was located 400 metres east of SGVC006, and entered lower-plate limestone at 220 metres below the gravel, which continued along with alternating mudstone units until the bottom of the hole at 589 metres. These units represent largely the same stratigraphic units seen in SGVC006, though are relatively lower than in SGVC006. SGVC007 bottomed in the upper portion of the same debris flow unit and showed the same increasing intensity of silicification but with elevated CTGD pathfinder elements encountered sooner within the zone of silicification than in SGVC006 suggesting SGVC007 might be closer to the primary fluid source for this area.
Reviewed together, the results from SGVC006 and SGVC007 show an upper mineralized zone that is about 250 metres thick, dominated by syn-cataclastic dissolution breccias, as well as a lower zone, 100 to 150 metres deeper, dominated by intense silicification that extends below the depths of the holes (both holes bottomed in this silicified material). Reviewing the assay results, both the upper and lower zones contain anomalous and highly-anomalous CTGD pathfinder elements across significant intervals, though each zone contains marked differences in terms of their other trace element concentrations. The silicification in the lower zones is associated with increasing geochemical level concentrations of silver, copper, zinc, and molybdenum (though all are still relatively low and consistent with CTGD alteration), which suggests the zones represent different parts of the same, larger system.
NGE has added the downhole strip logs for SGVC006 and SGVC007, with assays for gold and CTGD pathfinders, plus core photos, to the Project datafile available at: http://www.nevadaexploration.com/news/nevada-exploration-reports-latest-drill-results-from-south-grass-valley-project-battle-mountain--eureka-trend-nevada.
From SGVC007, at the north end of the Project, NGE returned to the middle of the Project for SGVC008, 400 metres west of SGVC003. SGVC008 was placed in the west central part of the property and drilled at an angle of -80° due west to support the collection of oriented core samples from an up dip (higher) sequence of the stratigraphic units seen across the Project. The Company expected that the hole would provide a thicker section of potentially less-altered and structurally less-damaged stratigraphy to provide additional information about bedding and fault attitudes to improve the interpretation of the lithologic, structural, alteration, and mineralization features of the larger system.
As expected, SGVC008 encountered the same interbedded limestone and mudstone units as in SGVC003, though considerably higher, beginning at only 94 metres beneath the gravel cover, compared to 174 metres in SGVC003. Importantly, the measurements from the oriented core have established predominant, moderate to steep bedding dips towards the NE, which is consistent with the regional NW trend of fold axes – the same orientation of fold axes that are also associated with the controls for mineralization at CTGDs in the region. Unexpectedly, SGVC008 encountered syn-cataclastic dissolution alteration similar to SGVC003, and bottomed in increasing silicification similar to that encountered at the bottoms of SGVC002, SGVC006, and SGVC007. Unfortunately, the drill hole entered a major fault within this zone of silicification that could not be drilled across. The hole was terminated at 248 metres, before reaching its target depth of 600 metres. The drill samples from SGVC008 have been submitted for assay.
Having now completed the first phase of drilling at the Project, the Company is incorporating the latest drilling results into the Project’s exploration model to establish the critical controls for CTGD mineralization and direct its efforts for the next round of drilling. Once complete, the Company looks forward to providing its stakeholders with a more detailed update.
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Wade A. Hodges, CEO & Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
centsability4me
5 years ago
Nevada Exploration Soil Sampling Extends South Grass Valley Target Additional 1,500 metres, Battle Mountain – Eureka Trend, Nevada
https://www.nevadaexploration.com/news/2019/nevada-exploration-soil-sampling-extends-south-grass-valley-target-additional-1500-metres-battle-mountain--eureka-trend-nevada
January 30, 2019
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to announce that the results of a mercury soil sampling program combined with the results of its earlier hydrogeochemistry (groundwater) sampling program have extended the geochemistry support for its NNW-trending target at South Grass Valley another 1,500 metres beyond the 2,500 meters established based on the results of its ongoing drilling program, for a total of 4,000 metres, which still remains open.
Mercury is one of the characteristic pathfinder elements associated with Carlin-type gold deposits (CTGDs): thallium, antimony, mercury, and arsenic. As the most volatile of the CTGD pathfinders, mercury is the most easily transported vertically, in vapour phase. Because of its vertical mobility and strong association with CTGDs, testing for mercury in soils to detect covered CTGD mineralization is a logical tool for focusing exploration efforts at covered targets. As part of a deposit case study at the Cortez Hills deposit at the north of end of Grass Valley, soil sampling demonstrated that mercury concentrations in soil increase immediately above the footprint of gold mineralization.
NGE identified its blind, covered exploration target at South Grass Valley using hydrogeochemistry, specifically responding to highly-anomalous concentrations of gold in groundwater. With bedrock getting deeper towards the north end of the target area, and with NGE’s groundwater sampling predominantly limited to shallow depths (< 60 metres), the distance above bedrock that NGE collected groundwater samples varied considerably across different areas of the Project, which introduces a potential source of variability for the gold and related pathfinder element concentrations in the groundwater samples. Accordingly, while the absolute gold-in-groundwater concentrations at the north end of the Project, where samples were collected further from the bedrock surface, are not as high as at the south end, where samples were collected closer to the bedrock surface, the concentrations at the north end are still highly anomalous and coincident with the NNW projection of a structurally complex package of favourable lower-plate carbonate host rocks based on air magnetic and gravity geophysics, which together provide evidence that the CTGD-style hydrothermal system recently discovered by the Company may extend northwards beyond the limits of NGE’s initial phase of drilling.
To compliment the hydrogeochemistry data and provide an additional source of geochemistry data to focus the next phase of drilling, NGE completed a mercury soil sampling program across the Project. NGE completed 13 E-W sample lines spaced every 400 metres, with an average length of about 3,000 metres, and with sample locations spaced every 50 metres along the lines, for total of approximately 930 samples.
In terms of the distribution of mercury-in-soil concentrations, the results of the program show:
background concentrations as low as 6 ppb;
a median (50th percentile) concentration of 37 ppb;
the majority (72%) of samples contain concentration less than 50 ppb;
100 ppb corresponds to the 93.6 percentile (top 6.4%) of all samples collected; and
the 100+ ppb samples cluster almost exclusively within the Company’s NNW target area, and importantly extend northward beyond NGE’s initial area of focus, coincident with the anomalous concentrations of gold in groundwater that continue in this direction.
Discussing the results of the mercury soil sampling program, Wade Hodges, NGE’s CEO: “We know that at Cortez Hills, at the north end of the valley, mercury in soils does a great job of mapping the extent of this large covered deposit; and we know based on our recent drill assay results that we’re getting highly-anomalous concentrations of mercury along with elevated gold in thick intervals of favourable lower-plate bedrock containing significant concentrations of CTGD pathfinders associated with intense hydrothermal-alteration. Combining mercury in soils with hydrogeochemistry has given us further evidence that the hydrothermal system we’ve discovered at South Grass Valley may continue another 1,500 metres, beyond the 2,500 meters we’ve seen in the drilling so far, for a total of 4,000 metres (which is still open). For context, with the addition of Fourmile, the mineralization along Barrick’s Goldrush-Fourmile camp extends for 7,000 metres. We’ve set our bar at looking for projects that offer plus five million-ounce potential, and each new layer of information is reinforcing that our target at South Grass Valley is large enough to support this scale of mineralization.”
The Company has submitted a permit application to provide additional drill sites at the north end of the Project, as well as additional locations at the south end of the Project to infill around the drill holes completed to date. At this time, NGE is currently drilling SGVC007, located 400 metres east of hole SGVC006. For more information about the Company’s current drilling program at South Grass Valley, please see the recent news release dated January 23, 2019: https://www.nevadaexploration.com/news/nevada-exploration-drilling-enlarges-target-at-south-grass-valley-project-battle-mountain--eureka-trend-nevada
As NGE continues drilling at South Grass Valley, per NI 43-101, 2.3(2), the Company must remind its stakeholders that the Project remains an exploration target for which the potential quantity and grade of any mineral resource is still conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
centsability4me
5 years ago
Nevada Exploration Drilling Enlarges Target at South Grass Valley Project, Battle Mountain – Eureka Trend, Nevada
https://www.nevadaexploration.com/news/2019/nevada-exploration-drilling-enlarges-target-at-south-grass-valley-project-battle-mountain--eureka-trend-nevada
January 23, 2019
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide an update from its ongoing core drilling program at South Grass Valley, including assay results from drill hole SGVC005 and early logging from hole SGVC006.
As wide-spaced step-outs, SGVC005 and SGVC006 now establish that the thick intervals of favourable “lower-plate” carbonate host rocks exhibiting intense hydrothermal-alteration and significant concentrations of Carlin-type gold deposit (CTGD) pathfinder elements seen in holes SGVC002, SGVC003, and SGVC004 (together defining a NNW-SSE strike length of at least 2,500 metres), extend at least 400 metres in an E-W direction. By adding this third dimension (width), these results further quantify the large scale of this important new exploration target.
As described in the Company’s news release dated December 13, 2018, SGVC005, located 400 metres west of SGVC004, encountered a sequence of carbonaceous and calcareous lower-plate stratigraphy right from the top of bedrock at 159 metres (below the gravels) to the bottom of the hole at 595 metres, including an intensely-altered 100-metre-thick debris-flow breccia unit containing secondary pyrite and multiple cross-cutting fracture zones. Similar to SGVC004, the assay results for SGVC005 show anomalous and highly-anomalous Carlin-type gold deposit pathfinder elements across a thick (225 metre) interval, with increasing gold and pathfinder values within narrow fractures (gold up to 132 ppb, thallium up to 1.79 ppm, antimony up to 326 ppm, mercury up to 2.69 ppm, and arsenic up to 1,000 ppm, together the highest concentrations seen at the Project to date). NGE has added the downhole strip log for SGVC005, with assays for gold and CTGD pathfinders, plus core photos, to the Project datafile available at: https://www.nevadaexploration.com/_resources/January_2019_South_Grass_Valley_Data_Package.pdf.
From SGVC005, at the south end of the Project, NGE returned to the north end of the Project for SGVC006, 600 metres northwest of SGVC002. SGVC006 entered lower-plate limestone at 158 metres below the gravels, which continued to the bottom of the hole at 650 metres. The upper part of SGVC006 showed alteration features similar to the upper part of SGVC002, with decalcification, dissolution, and disruption textures. The bottom 230 metres of SGVC006 encountered black, carbonaceous, debris flows with significant diagentic pyrite exhibiting intense silicification, brecciation and high levels of secondary pyrite. Together the alteration seen in SGVC006 suggests these units were subject to significant hydrothermal fluid flow. All SGVC006 core samples have now been submitted for assay.
Once the assay results from SGVC006 are available and the logging is complete, the Company expects to provide a detailed summary of the results from this initial six-hole program and its plans for the next phase of drilling at the Project.
Discussing the results from SGVC005, NGE’s CEO, Wade Hodges: “First: significant thicknesses of CTGD host rocks have been encountered in 5 of 6 holes drilled to date. Second: rock types do not easily correlate between any holes implying significant structural complexity over a large area. Third: significant volumes of gold-bearing CTGD hydrothermal fluids circulated along the complex structural controls as documented by significant thicknesses of CTGD alteration, oxidation and pathfinder geochemistry. It is also important to note that processes that deposit gold from CTGD hydrothermal fluids do not affect arsenic (As), antimony (Sb), mercury (Tl) and thallium (Tl) deposition in the same manner. Gold will be most effectively deposited from CTGD hydrothermal fluids where all three above conditions intersect. Pathfinder elements will be deposited along fluid conduits at generally greater distances from where the gold was deposited. We are now focused on locating those areas where all three processes intersected to effect larger volumes of higher-grade gold mineralization.“
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
centsability4me
5 years ago
Nevada Exploration Drilling Extends Carlin-style Footprint Additional 1,200 Metres Along Strike at South Grass Valley, Battle Mountain-Eureka Trend, Nevada
https://www.nevadaexploration.com/news/2018/nevada-exploration-drilling-extends-carlin-style-footprint-additional-1200-metres-along-strike-at-south-grass-valley-battle-mountain-eureka-trend-nevada
December 13, 2018
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) is very pleased to report that the assay results from hole SGVC004 of its ongoing core drilling program at its South Grass Valley Project have extended the thick (> 200 metre) intervals of enriched Carlin-type gold deposit (CTGD) pathfinder elements previously announced in holes SGVC002 and SGVC003 a further 1,200 metres to the south. With these three holes, spaced a total of 2,500 metres along the interpreted strike of the NNW-SSE target, all intersecting favourable “lower-plate” carbonate host rocks exhibiting intense hydrothermal-alteration and containing significant concentrations of CTGD pathfinder elements, including gold, NGE believes these results further confirm the presence of a district-scale Carlin-style hydrothermal system at the Project.
With the positive results from these first drill holes, NGE is now offsetting the holes with the objective of establishing the controls of and vectoring towards potential higher-grade gold mineralization.
Discussing the results, NGE’s CEO, Wade Hodges: “As we shared in our last news release, we knew visually that the lower-plate bedrock in SGVC004 contained a similarly thick interval of CTGD-style alteration to those seen in holes SGVC002 and SGVC003, and now with the assays back for SGVC004, we can confirm that the associated CTGD pathfinder elements are there as well, including increasing concentrations of gold. Seeing such robust intervals of anomalous and highly-anomalous concentrations of CTGD pathfinder elements over such a large area further confirms we’re into what could be the peripheral parts of a potentially significant, mineralized CTGD-style hydrothermal system.
“Having established what we believe is a strike length of at least 2,500 metres, with holes on each of our three fences, we’ve begun our next phase of drilling, which is stepping out along the fences to define its lateral extent. In the last few days we finished drilling SGVC005, located 400 metres to the west of SGVC004, and have now collared SGVC006, located 600 metres northwest of SGVC002.”
For a complete description of the objectives of NGE’s drilling program at South Grass Valley, please refer to Company’s news release dated October 15, 2018: https://www.nevadaexploration.com/news/2018/nevada-exploration-intersects-shallow-highly-altered-lower-plate-carbonate-bedrock-and-provides-update-for-south-grass-valley-project-battle-mountain-eureka-trend-nevada
For discussion on the results of holes SGVC001, SGVC002, and SGVC003, including a video, please refer to the Company’s news release dated November 26, 2018: https://www.nevadaexploration.com/news/2018/nevada-exploration-discovers-large-carlin-style-hydrothermal-system-and-stakes-additional-claims-at-south-grass-valley-battle-mountain-eureka-trend-nevada
Latest Results From SGVC004
Located towards the eastern end of the southern fence, 1,168 metres south of SGVC003, SGVC004 entered bedrock at 377 metres from surface, about 200 metres deeper than seen in SGVC002 and SGVC003, in what NGE believes is the down-dropped, eastern side of a major N-S high-angle fault zone that runs parallel to the target area. Just as in SGVC002 and SGVC003, SGVC004 encountered favourable lower-plate limestone from the top of bedrock to the bottom of the hole at 640 metres.
Similar to holes SGVC002 and SGVC003, a >200-metre-thick interval of bedrock in SGVC004 was subjected to intense alteration typical of large CTGDs characterized by: crackle, vuggy, dissolution, and collapse breccias; multiple periods of calcite veining; argillization; bleaching; and decalcification. Compared to SGVC002 and SGVC003, SGVC004 exhibits a noticeable increase in silicification, secondary pyrite, and an-as-yet-unidentified grey sulfide.
Hole SGVC004 is oxidized over a similar interval as holes SGVC002 and SGVC003, though at slightly deeper depths, from 417 metres to 640 metres, suggesting post-mineral fault movement. Additionally, SGVC004 provides continuing evidence for multiple periods of intense high-angle and low-angle zones of structural disruption consistent with the complex structural setting already interpreted based on detailed gravity and airborne magnetic geophysics, which bodes well for the presence of numerous structurally-controlled fluid pathways and depositional traps.
Compared to SGVC002 and SGVC003, SGVC004 encountered more consistent and higher gold values. Based on grade-thickness calculations for standardized, 245-metre-thick intervals centered on the mineralized zones in the three holes, SGVC004 returned more than twice the gold budget, indicating that at this southern fence, hole SGVC004 could be closer to the mineralized controls of the system at the southern end of the target area. In all, the variability in the gold and CTGD pathfinder elements distributions provide a systematic basis for vectoring towards potential higher-grade gold mineralization with the next phase of drilling.
NGE has added the downhole strip log for SGVC004, with assays for gold and CTGD pathfinders, plus core photos, to the Project datafile available at: https://www.nevadaexploration.com/_resources/December_2018_South_Grass_Valley_Data_Package.pdf. For context, the results are presented along with the “Anomalous” (lower/farther) and “Highly Anomalous” (upper/closer) exploration thresholds established through research lead by the Mineral Deposit Research Unit (MDRU) at UBC, as published most recently in Herron (2018), based on thousands of samples from large CTGDs in Nevada to define the extent of the pathfinder element footprints (halos) in the bedrock surrounding these deposits.
Phase 2 Step Out Drilling
NGE located SGVC005 between SGVC001 and SGVC004, to test for increasing concentrations of gold and CTGD-style pathfinder elements in the up-dip side of the favourable limestone stratigraphy seen in SGVC004. SGVC005 entered bedrock at 158 metres, more than 200 metres higher than in SGVC004, which represents a significant vertical offset over a relatively short distance, further highlighting the structural complexity of the target area.
In terms of stratigraphy, the major units encountered in SGVC005 included: (1) a fossiliferous limestone crackle breccia – a distinctive breccia unit consisting of angular to sub-rounded clasts of black carbonaceous siltstone, limestone showing bleached selvages, and other yet-to-be-identified rock types not seen in outcrop or drilling to date, supported by a black, non-calcareous matrix with secondary pyrite; (2) an unaltered volcanic dike; and (3) at the bottom, a unit of light to dark limestone with alternating beds of phosphate-enriched, carbonaceous siltstone with diagentic pyrite, which is thought to be correlative with slope debris flows encountered in the bottoms of SGVC002, SGVC003, and SGVC004. Based on initial logging, SGVC005 shows similar structural and alteration textures as seen in previous holes, with oxidation to a similar depth; and in general, the porosity, alternating rheologies, and structural complexity seen in SGVC005 represent characteristic features of CTGD host units.
While the rock types encountered in SGVC005 are similar to those encountered in previous holes, the similarities are still not clear enough to provide traceable lithologic correlations between holes required for a more detailed structural interpretation of the project area. Detailed logging and interpretation for SGVC005 will have to wait until assays are available, though at this stage and scale of exploration, NGE considers such structural complexity to be good for the deposition of gold.
NGE located SGVC006 600 metres northwest of SGVC002 and 200 metres east of Goodwin Butte to test for increasing concentrations of gold and CTGD-style pathfinder elements towards the west of SGVC002, as well as to test an inferred structure to the east of Goodwin Butte for a potential control for mineralization at the north end of the target. SGVC006 has encountered bedrock at 158 metres.
As NGE continues drilling at South Grass Valley, per NI 43-101, 2.3(2), the Company must remind its stakeholders that the Project remains an exploration target for which the potential quantity and grade of any mineral resource is still conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Upcoming Events
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming events:
VANCOUVER RESOURCES INVESTMENT CONFERENCE (Vancouver)
Sunday and Monday, January 20th and 21st, 2018
https://cambridgehouse.com/e/vancouver-resource-investment-conference-2019-76
PDAC (Toronto)
Sunday to Wednesday, March 3rd to 6th, 2019
https://www.pdac.ca/convention
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
centsability4me
6 years ago
NEWS 11/26/18
Nevada Exploration Discovers Large Carlin-style Hydrothermal System and Stakes Additional Claims at South Grass Valley, Battle Mountain-eureka Trend, Nevada
https://www.nevadaexploration.com/news/2018/nevada-exploration-discovers-large-carlin-style-hydrothermal-system-and-stakes-additional-claims-at-south-grass-valley-battle-mountain-eureka-trend-nevada
November 26, 2018
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is very pleased to report that the early results from its ongoing core drilling program at its South Grass Valley Project have established the presence of a large hydrothermal system defined by intense and widespread hydrothermal alteration across three drill holes, together nearly 2,500 metres apart, and that the assay results from the first two holes received to date confirm this widespread alteration is associated with significant (>200 meter) intervals of enriched Carlin-type gold deposit (CTGD) pathfinder elements. With thick intervals of hydrothermally-altered, favourable “lower-plate” carbonate host rocks, containing characteristic CTGD pathfinder elements across multiple wide-spaced drill holes, this first phase of drilling has successfully achieved the objective of confirming the presence of a district-scale Carlin-style hydrothermal system, and NGE is now beginning the next phase of drilling to vector towards potential mineralization. Based on these positive results, the Company has enlarged its land holdings at the Project, staking approximately 400 hectares of additional claims, for a total district-scale land package of 4,500 hectares (45 km2).
Discussing the results, NGE’s CEO, Wade Hodges: “The lower-plate bedrock we encountered in SGVC002 contained a plus-200-metre interval of intense, CTGD-style, hydrothermal alteration. From SGVC002 we moved almost 1,300 meters to the south-southeast to SGVC003, where we again encountered lower-plate limestone containing similarly intense and thick intervals of CTGD-style alteration. We’ve now completed SGVC004 and are still seeing lower-plate limestone exhibiting these same important alteration features a further 1,200 metres to the south of SGVC003, and nearly 2,500 meters south of SGVC002. By any definition, this is a large system.
“After confirming the intersection of favourable lower-plate bedrock and a large Carlin-style hydrothermal system, the next box we needed to check was to confirm that the system contains a significant budget of CTGD pathfinder elements. With assay results back for SGVC002 and SGVC003, we are excited to share that the system does contain large zones of anomalous and highly-anomalous CTGD-style pathfinder elements. This is exactly what we needed to see from these early, wide-spaced drill holes, and these CTGD pathfinders give us the information we need to continue to systematically de-risk and advance the Project.
“At the same time as we’re excited about our early results at South Grass Valley, I think it’s especially important, and appropriate, at this milestone to highlight their significance in terms of what they say about our under-cover exploration program as a whole. Here in Grass Valley, we began with a 500 km2 covered search space, with little to indicate the potential for a large Carlin-style system hidden beneath the gravel. By incorporating groundwater sampling at each stage of investigation, we’ve been able to systematically evaluate and constrain this blind, covered search space, down to a discrete target, and with only a handful of drill holes, intersect a district-scale, Carlin-style system that is now ready for a significant follow-up drill program. These are the quality and size of exploration targets that the industry is desperate for, and we are proving that we have the technology and experience to lead the industry in finding them under cover here in Nevada. Accordingly, we believe that these early results at South Grass Valley speak not only to the merits of the Project, but also to the value of our larger program and the other projects in our pipeline.”
South Grass Valley Map November 2018
NGE has prepared a video providing additional context on the results and the expected next steps for the Project, available at: https://youtu.be/Pc07Bd_-b_U.
Downhole strip logs, with assays for CTGD pathfinders, and core photos for SGVC002 and SGVC003 are available at: November 2018 South Grass Valley Data Package
For context, the results are presented along with the lower (farther) and higher (closer) exploration thresholds established through research lead by the Mineral Deposit Research Unit (MDRU) at UBC, as published most recently in Herron (2018), based on thousands of samples from large CTGDs in Nevada to define the extent of the pathfinder element footprints (halos) in the bedrock surrounding these deposits.
Program Description and Objectives
NGE’s South Grass Valley Project is located approximately 50 kilometres south-southwest of Barrick Gold Corp.’s Cortez complex, within the specific region of north-central Nevada known for large CTGDs. NGE originally generated the Project based on elevated concentrations of gold and CTGD-style pathfinder elements in groundwater identified during a basin-scale hydrogeochemistry-supported exploration program.
NGE’s objective for the first round of core drilling at South Grass Valley was to confirm whether the enriched gold and CTGD-style pathfinder-element geochemistry in groundwater at the Project is associated with a hydrothermal system of a scale consistent with those responsible for Nevada’s large CTGDs, such as Cortez Hills at the north end of the valley.
As described in more detail in the Company’s news release dated October 15, 2018, to accomplish this objective, NGE’s plan for the first phase of drilling was to complete wide-spaced core holes, spread out across three fences of permitted drill holes (the northern, middle, and southern fences), to test for thick intervals of hydrothermally-altered carbonate host rocks that contain significant concentrations of pathfinder elements in line with those that define the footprints surrounding other large CTGDs.
Results to Date
SGVC001: located towards the west end of the southern fence, drill hole SGVC001 intersected granite beneath 125 metres of gravel cover. While granitic intrusives are commonly found along structural corridors associated with CTGDs, they themselves are generally poor host rocks for gold mineralization. NGE stopped the hole at 196 metres. NGE has since returned to the southern fence where it completed SGVC004 and where it is now also drilling SGVC005, both described below.
SGVC002: located towards the western end of the northern fence, SGVC002 entered bedrock at 185 metres from surface. From the top of bedrock to the bottom of the hole at 585 metres, SGVC002 encountered what appear to be Ordovician age limestone units, based on stratigraphic similarities to other units seen in the region (conodont age dating is in progress), representing a >400-metre-thick sequence of “lower plate” bedrock units, the favoured host rocks for CTGDs in Nevada, which were oxidized down to 560 meters. The hole encountered a 235-meter-thick interval of intense and episodic hydrothermal alteration, as well as additional narrower intervals. Of most significance, the assay results from SGVC002 define a largely-continuous 235-metre-thick section of highly-enriched CTGD pathfinder geochemistry. While similar, the limestone units in SGVC002 are separate from those seen at nearby Goodwin Butte, 800 metres to the west, which suggests the presence of a major structural offset that could prove to be important as we begin to understand the controls of the potential mineralization. For more detailed information on SGVC002, NGE has provided a downhole strip log and core photos in the November 2018 South Grass Valley Data Package (see link above).
SGVC003: located towards the eastern end of the middle fence, 1,287 metres south-southeast from SGVC002, SGVC003 entered bedrock at 174 metres from surface, and like SGVC002, encountered favourable lower-plate limestone from the top of bedrock to the bottom of the hole at 497 metres, with oxidation down to 430 metres. Of note, while both drill holes encountered bedrock at comparable depths from surface, the lithological units in SGVC003 appear to be stratigraphically lower in the regional sequence, with the units at the top of SGVC003 corresponding more closely with the units seen towards the bottom of SGVC002, suggesting another major structural offset. While the lithological units are different, the characteristic textures and intensity of the hydrothermal alteration seen in SGVC003 are very similar to those in SGVC002 and are seen over similar thicknesses. As in SGVC002, the assay results from SGVC003 confirm the intense alteration is associated with a largely-continuous 200-metre-thick section of highly-enriched CTGD pathfinder geochemistry. For more detailed information on SGVC003, NGE has provided a downhole strip log and core photos in the November 2018 South Grass Valley Data Package (see link above).
South Grass Valley core November 2018
SGVC004: located towards the eastern end of the southern fence, 1,168 metres south from SGVC003 and 800 metres east of SGVC001, SGVC004 entered bedrock at 377 metres from surface, which is considerably deeper than in each of the three earlier holes, which is consistent with SGVC004 being on the down-dip side of a major high-angle fault zone that runs north-south, parallel to the target area, as suggested by the gravity and air magnetic geophysics. While the depth to bedrock was deeper in SGVC004, as with SGVC002 and SGVC003, SGVC004 encountered favourable lower-plate limestone from the top of bedrock to the bottom of the hole at 640 metres. Furthermore, early logging from SGVC004 shows similarly intense alteration over similarly thick intervals to those seen in SGVC002 and SGVC003, as well as intervals near the bottom of the hole with a moderate increase in silicification, as well as visible pyrite. Once NGE has logged and received the assays for SGVC004, the Company expects to provide similar downhole logs and photos as those provided for SGVC002 and SGVC003.
Providing additional commentary on the major features of exploration significance seen in the drilling to date, NGE’s CEO, Wade Hodges: “Thick sections of lower-plate in all of SGVC002, SGVC003, and SGVC004 have been subjected to intense alteration typical of large CTGDs, characterized by: crackle, vuggy, dissolution, and collapse breccias; multiple periods of calcite veining; argillization, bleaching, and decalcification; and silicification. Alteration textures broadly scattered throughout these favourable host rocks, consisting of numerous thin alternating bedding planes of contrasting limestone, siltstone, carbon, phosphate, and diagentic pyrite, are diagnostic of the action of acidic CTGD fluids. We’re also seeing evidence of multiple periods of intense structural disruption, with cross-cutting zones of angular to sub-rounded breccia clasts surrounded by rock flour and clay. When combined with the large volume of relatively shallow, favourable lower-plate limestone containing anomalous and highly-anomalous concentrations of CTGD pathfinder elements, these early results suggest we are now into what could be the peripheral parts of a potentially significant, mineralized CTGD-style hydrothermal system. This is exciting for all of us, and we’re looking forward to continuing the program.”
Expected Next Steps
With an interpreted strike length of at least 2,500 metres oriented roughly north-south, NGE expects the next phase of drill holes at South Grass Valley to begin stepping out along the east-west fences to vector towards increasing concentrations of gold and CTGD pathfinder elements within the favourable and prospective units seen in all of the northern fence (SGVC002), middle fence (SGVC003), and southern fence (SGVC004).
To begin this next stage of drilling, NGE is now drilling SGVC005, located approximately 400 metres west of SGVC004, where NGE is looking to sample the up-dip side of the stratigraphy seen in SGVC004, with the goal of encountering the same favourable bedrock units closer to surface and closer to an area of highly-anomalous gold in groundwater.
SGVC005 appears to have encountered bedrock at 158 metres, consistent with expectations, and drilling continues.
As NGE continues drilling at South Grass Valley, per NI 43-101, 2.3(2), the Company must remind its stakeholders that the Project remains an exploration target for which the potential quantity and grade of any mineral resource is still conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Upcoming Events
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming events, including Mines and Money London beginning Monday November 26, 2018:
MINES AND MONEY (London) – BOOTH C26
Monday to Thursday, November 26th to 29th, 2018
https://london.minesandmoney.com/
Corporate Presentation: 11:20 am, Thursday November 29th, Spotlight Theatre - Canada
Mining Pitch Battle: 12:40 am, Thursday November 29th, Spotlight Theatre - Canada
AMERICAN EXPLORATION & MINING ASSOCIATION (Spokane)
Monday to Friday, December 3rd to 7th, 2018
https://www.miningamerica.org/2018-annual-meeting/
VANCOUVER RESOURCES INVESTMENT CONFERENCE (Vancouver)
Sunday and Monday, January 20th and 21st, 2018
https://cambridgehouse.com/e/vancouver-resource-investment-conference-2019-76
PDAC (Toronto)
Sunday to Wednesday, March 3rd to 6th, 2019
https://www.pdac.ca/convention
centsability4me
6 years ago
NEWS 10/26/18
https://www.nevadaexploration.com/news/2018/nevada-exploration-appoints-new-chief-financial-officer
Nevada Exploration Appoints New Chief Financial Officer
October 26, 2018
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to announce the engagement of PNW Corporate Services & Advisory Ltd. (“PNW”) to provide the services of Ms. Christina Blacker, who has been appointed to the role of Chief Financial Officer of the Company.
Ms. Blacker is a Chartered Professional Accountant (CA) and has more than 13 years of experience working with public companies, predominantly in the mining industry, including current roles as controller for two other TSX Venture listed issuers. Ms. Blacker obtained her undergraduate degree from the University of California, Los Angeles, and obtained a diploma in accounting from the Sauder School of Business at the University of British Columbia.
In connection with Ms. Blacker’s appointment, the Company has accepted the resignation of Cyrus Driver as Chief Financial Officer of the Corporation. The Company would like to express its sincere appreciation for Cyrus’s dedication and contributions to NGE during his 9 years with the Company, both as Chief Financial Officer as well as Director for much of that time.
The Company also announces that pursuant to its stock option plan, subject to TSX Venture Exchange approval, NGE has granted incentive stock options to PNW to acquire a total of 150,000 common shares of the Company, exercisable for a period of ten years at an exercise price of $0.35, subject to vesting requirements.
Upcoming Events
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming events, including the Silver and Gold Summit in San Francisco beginning this Sunday, October 28, 2018:
SILVER AND GOLD SUMMIT (San Francisco) – BOOTH 406
Sunday to Monday, October 28th to 29th, 2018
https://cambridgehouse.com/e/silver-and-gold-summit-2018-75
Presentation #1: Sunday, October 28, 2018 (limited space, register at: https://investor.nevadaexploration.com/silver-gold-summit/)
Presentation #2: Monday, October 29, 2018, at 2:10 PM in the Silver Hall (open to all conference registrants)
MINES AND MONEY (London) – BOOTH C26
Monday to Thursday, November 26th to 29th, 2018
https://london.minesandmoney.com/
AMERICAN EXPLORATION & MINING ASSOCIATION (Spokane)
Monday to Friday, December 3rd to 7th, 2018
https://www.miningamerica.org/2018-annual-meeting/
VANCOUVER RESOURCES INVESTMENT CONFERENCE (Vancouver)
Sunday and Monday, January 20th and 21st, 2018
https://cambridgehouse.com/e/vancouver-resource-investment-conference-2019-76
PDAC (Toronto)
Sunday to Wednesday, March 3rd to 6th, 2019
https://www.pdac.ca/convention
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
centsability4me
6 years ago
NEWS 10/15/18
https://www.nevadaexploration.com/news/2018/nevada-exploration-intersects-shallow-highly-altered-lower-plate-carbonate-bedrock-and-provides-update-for-south-grass-valley-project-battle-mountain-eureka-trend-nevada
Nevada Exploration Intersects Shallow, Highly-Altered, Lower-Plate Carbonate Bedrock and Provides Update for South Grass Valley Project, Battle Mountain-Eureka Trend, Nevada
October 15, 2018
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide guidance on the scope and objectives of its recently begun core drilling program at its South Grass Valley Project, and to announce that new geophysical datasets combined with early information from its drilling program have provided additional confirmation for the Company’s geologic model at the Project, including the presence of shallow, intensely-altered, “lower-plate”, carbonate bedrock.
Scope and Objectives of South Grass Valley Drilling Program
NGE’s South Grass Valley Project is located approximately 50 kilometres south-southwest of Barrick Gold Corp.’s Cortez complex, within the specific region of north-central Nevada known for Carlin-type gold deposits (CTGDs). NGE originally generated the Project based on elevated concentrations of gold and CTGD-style pathfinder elements in groundwater identified during a basin-scale hydrogeochemistry-supported exploration program. The objective of NGE’s first round of core drilling at South Grass Valley is to confirm whether the enriched gold and CTGD-style pathfinder-element geochemistry in groundwater at the Project is associated with a hydrothermal system of a scale consistent with those responsible for Nevada’s large CTGDs, such as Cortez Hills at the north end of the valley.
One of the most significant challenges in exploring for gold in districts where bedrock is covered is vectoring towards mineralization before encountering a first significant gold intercept. To confront this challenge, industry researchers have been focused on enlarging deposits’ footprints to make them easier to find, largely based on the understanding of the size and concentration of the pathfinder element and (most recently) isotopic halos seen in the bedrock surrounding deposits. Based on recently-published, extensive research on the footprints of CTGDs, as described in NGE’s news release dated July 11, 2018, the pathfinder element and isotopic footprint that surrounds Cortez Hills extends more than 1,000 metres into the surrounding bedrock, compared to actual widths of economic mineralization that are in many places less than 300 metres wide. More specifically, the deposit footprints at Cortez Hills and other large CTGDs in Nevada are defined by specific concentrations of pathfinders that each travel different distances beyond the deposit, which are generally found in the following order as they extend outwards from the economic ore zones: (nearest) Au < 13C & Tl < Sb < Hg < As < 18O (farthest).
This new research on the size and composition of the deposit footprints at Cortez Hills and other CTGDs in Nevada provides valuable information for establishing the appropriate drill hole spacing to systematically de-risk and advance a CTGD exploration project. While the limits of economic mineralization at a deposit such as Cortez Hills may in places only measure 300 metres across (presenting an exceedingly small, and thus risky, target to hit with an early-stage, wide-spaced, drilling program), explorers can now respond to footprints that are greater than 1,000 metres across. The effective result is that explorers can now meaningfully advance early-stage CTGD projects with fewer and more widely spaced drill holes to confirm the presence of a CTGD footprint, prior to committing to large and more detailed drilling programs. Furthermore, the results of these studies also provide the necessary thresholds (benchmarks) needed to vector towards gold mineralization once inside the footprint.
Based on the results of this research, NGE has permitted three E-W fences of drill holes, spaced approximately 1,200 metres apart, across the exploration target at South Grass Valley, with permitted drill hole locations spaced approximately 400 metres apart along each fence. For the first phase of drilling, NGE expects to drill up to two wide-spaced holes along each fence, for a total of up to 6 drill holes, with the specific objective of providing the appropriate coverage to test for the footprint of a large CTGD. At this stage, NGE will be testing for thick intervals of hydrothermally-altered carbonate host rocks that contain significant concentrations of CTGD pathfinder elements in line with the thresholds that define the deposit footprints surrounding other large CTGDs.
If these first wide-spaced core holes do successfully discover a large CTGD footprint, NGE would expect the subsequent phase of drilling to then include the balance of the permitted drill holes, with the objective of using CTGD pathfinder elements to vector towards the centre of the potentially gold-bearing system.
Recent Additional Geophysics
To maximize the likelihood that the wide-spaced, early drill holes are positioned in locations that can test for (intersect) known controls for mineralization in CTGDs, namely suitable host rocks and structures (faults), NGE has added to and refined its geophysical datasets, which are important inputs to its exploration model. To establish the locations of potentially important high-angle fault zones, NGE acquired additional gravity data during September and October, which included collecting 472 new in-fill gravity stations. To delineate areas of the Project underlain by favourable carbonate host rocks (“lower-plate”), NGE contracted a Reno-based geophysicist to review the airborne magnetic dataset that NGE flew in early 2018.
The results of the new detailed gravity data have resolved what had previously been interpreted as a broader structural corridor into a more focused N-S fault zone, the location of which is also corroborated in offsets seen in the air magnetic data. Additionally, the latest air magnetic interpretation continues to suggest a large area of carbonate host rocks across the Project punctuated by what are now interpreted as likely granitic intrusive units, which are often tracers of major structural corridors, and which provide additional evidence for the projected N-S fault zone seen in the gravity.
Drilling Update
NGE began drilling on September 29, 2018, at drill site SGV001, located towards the west end of the southern fence of permitted drill sites, above what was interpreted to be the up-dip edge of the lower-plate units beneath relatively shallower cover. The rationale for selecting an initial drill site with shallow cover was to minimize the potential complications of drilling through the cover material in order to complete as deep a hole as possible to provide important stratigraphic information early in the drill program; however, choosing an up-dip location also presented the risk of being closer to the granitic intrusive units interpreted in the air magnetics. While granitic intrusives are commonly found along structural corridors associated with CTGDs, they themselves are generally unreactive and poor host rocks for alteration zoning and gold mineralization. Drill hole SGV001 encountered bedrock at 125 metres, which turned out to be a granitic intrusive unit, and NGE stopped the drill hole at 196 metres. The bedrock at SGV001 does show evidence of hydrothermal activity, and NGE expects to return to complete an additional hole at the eastern end of the southern fence, further from the projected extent of the granitic intrusive units based on the air magnetics, with the goal again of encountering and sampling a thick section of lower-plate carbonates.
After SGV001, NGE moved the drill rig to the northern fence, to drill site SGV002, which is located approximately 1,000 metres to the east of Goodwin Butte, along the focused N-S fault zone defined in the most recent gravity geophysics. The rational for choosing this location was to complete a deep drill hole into what was interpreted to be: (a) shallow lower-plate carbonates; (b) coincident with a projected structural corridor; and (c) near the already known enriched CTGD pathfinder elements seen in outcrop at Goodwin Butte. SGV002 encountered bedrock at 185 metres. Beginning from the top of bedrock downwards, SGV002 has penetrated what appears to be a high-angle fault zone within lower-plate carbonates that early logging suggests has been associated with several periods of intense hydrothermal activity. Drilling at SGV002 continues.
South Grass Valley October 2018
Discussing the ongoing drilling at South Grass Valley, NGE’s CEO, Wade Hodges: “We’re happy to report that drilling is going smoothly at the Project. Obviously, we had hoped that SGV001 would have gone directly into the lower plate, but we’ll head back to the southern fence and complete another hole further to the east later in the program. In the meantime, at the north end, SGV002 is going very well. Right from the top of bedrock at SGV002, it looks like we’re into a major fault zone cutting through lower-plate carbonates that have experienced considerable hydrothermal activity, clearly marked within at least a 200-metre interval exhibiting decalcification, clay, multiple sequences of calcite veining and brecciation, and silicification, as well as intense oxidation. These geologic markers and their intensity over such a thick interval are consistent with those that characterize the hydrothermal systems associated with large CTGDs, and these samples now provide a thick sequence of bedrock to test for the pathfinders that define CTGD footprints. It’s also great to see that the projected intersection at SGV002 of shallow favourable carbonates and the N-S structural corridor has been confirmed as it builds additional confidence in our geophysical interpretations across the rest of the Project.
“We know that CTGDs are the product of specific and characteristic critical geologic components, namely favourable: structures, host rocks, zones of permeability, alteration, and geochemistry. If there is a large CTGD at South Grass Valley, we would expect to see multiple, independent lines of evidence for the presence of these critical components. If we’re as close as we think we could be with our target at South Grass Valley, the surrounding country rocks should also contain the right types of rocks and alteration, which they do; likewise, if there is indeed the required major structural zone to have sourced mineralized hydrothermal fluids, we should see a suggestion of it in the geophysics, which we do; and now that we’re drilling, if our projections of favourable host rocks and structures are correct, we should see thick intervals of altered lower-plate carbonates, which we now have. The next box we need to check is whether this system contains suitably enriched concentrations of pathfinder elements consistent with a large CTGD. In summary, we’re very pleased with the results we’re seeing; we’re drilling into the types of rocks we had hoped to encounter; we’re getting important information to continue to refine our exploration model; we’re looking forward to being able to review the pathfinder element concentrations when assays become available; and we’re certainly excited to keep drilling.”
Upcoming Events
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming events:
Silver and Gold Summit (San Francisco)
Sunday to Monday, October 28th to 29th, 2018
https://cambridgehouse.com/e/silver-and-gold-summit-2018-75
JOIN NEVADA EXPLORATION FOR BREAKFAST TO OPEN THE CONFERENCE: https://investor.nevadaexploration.com/silver-gold-summit/
Mines and Money (London)
Monday to Thursday, November 26th to 29th, 2018
https://london.minesandmoney.com/
American Exploration & Mining Association (Spokane)
Monday to Friday, December 3rd to 7th, 2018
https://www.miningamerica.org/2018-annual-meeting/
Vancouver Resource Investment Conference (Vancouver)
Sunday and Monday, January 20th and 21st, 2018
https://cambridgehouse.com/e/vancouver-resource-investment-conference-2019-76
PDAC (Toronto)
Sunday to Wednesday, March 3rd to 6th, 2019
https://www.pdac.ca/convention
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Wade A. Hodges, CEO & Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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