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Nevada Exploration Advancing Four Carlin-Type Gold Targets at South Grass Valley

Mining News - Published on Thu, 21 Nov 2019

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Nevada Exploration Inc reported that its planned drilling program to advance the four Carlin-type gold targets it has identified at its South Grass Valley Project. Guided by its latest geologic model, Nevada Exploration has designed a 9,500-metre, 23-hole reverse-circulation drilling program to achieve specific objectives at each of the four targets, with clear definitions of success. The company believes the Carlin-type mineral system it has discovered at its South Grass Valley Project has the architecture and scale to support multiple gold deposits, with the potential to host an entire new district. By integrating: detailed mapping of and structural measurements from the nearby exposed bedrock; air magnetic and gravity geophysics; large soil and groundwater geochemistry sampling programs; and wide-spaced orientation core holes, Nevada Exploration has identified four discrete gold targets, defined by geologic settings analogous to those hosting deposits in Nevada’s three largest Carlin-type districts, and supported by gold and related pathfinders in multiple sampling mediums.

NGE's President James Buskard said “We started with a blank canvas at South Grass Valley, and by integrating the best geoscience, guided by the latest research and recent discoveries at Nevada's three major Carlin-type gold districts, our team has taken a systematic approach to advancing this otherwise-blind project. Our generative and greenfield exploration program has been characterized as a big company type effort in terms of its scope, and we have been rewarded by discovering Nevada's largest new Carlin-type mineral system. It is because of our big-picture approach, acquiring district-scale information at every stage that we have built the wide-coverage of data and geologic context to have identified and now advance our four targets, each of which we believe has the potential to host a significant gold deposit. We've designed our next drilling program to test each target based on their specific geologic settings, with well-defined metrics for success, giving us a clear focus. Importantly, we believe large portions of all of the targets are within the depth range of medium-sized RC drilling, which offers the potential to considerably decrease our drilling costs for this next phase of exploration.”

He added “While there are other projects in Nevada that can check many of the same Carlin-type boxes, what differentiates South Grass Valley is the scale of the mineral system we've discovered. Large districts are the products of large mineral systems, and with cubic kilometres of Carlin-type alteration, silicification, and geochemistry in bedrock, extending over more than 3.5 kilometres, which remains open, this is exactly what we've found. We're leading the industry in the search for the next Carlin-type gold deposits waiting to be discovered under cover in Nevada's large valley basins, and these results strongly validate our program. This is an exciting milestone for the Company, and we sincerely thank our stakeholders for their support as we continue to advance the Project.’

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Posted By : Rabi Wangkhem on Thu, 21 Nov 2019
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