- Nevada Exploration (NGE) is updating progress at its South Grass Valley Gold Project
- The carlin-type gold project is located approximately 50 kilometres south-southwest of the Cortez complex in north-central Nevada
- During May, the company completed the first hole of the program, to a final depth of 1,405 metres
- During June, the company completed sampling the drill core, and submitted samples from the entire hole for lab analysis
- Nevada Exploration is up 20 per cent, trading at C$0.18 at 3:56 pm ET
Nevada Exploration (NGE) is updating progress at its South Grass Valley Gold Project.
The carlin-type gold project is located approximately 50 kilometres south-southwest of the Cortez complex in north-central Nevada.
In May, the company completed the first hole of the program, to a final depth of 1,405 metres, successfully sampling the lower-plate Clm unit that hosts its primary East Golden Gorge target.
During the month of June, NGE completed sampling the drill core and submitted samples from the entire hole for lab analysis.
“It’s been an exciting couple of months logging what is now the deepest hole on the project, and this first hole of 2021 has already significantly de-risked our target concept at East Golden Gorge.
All of our work to date had pointed to the Clm unit effectively providing the dominant fluid superhighway for the mineralizing Carlin-type fluids to move laterally through the district, and quite simply, our goal with this current drilling program is to test whether our eastward down-dip projection of this superhighway is correct and whether it supported the type and volume of hydrothermal fluid flow necessary to support a globally significant new gold deposit.
Drilling more than 1,000 metres to get down to our target in this part of the project took fortitude, especially through the middle part of the hole which had seen very little in the way of any hydrothermal fluid flow, but as predicted by our geologic model, once we approached our target zone, the rocks began to change,” said Nevada Exploration CEO Wade Hodges.
Based on the results of its combined exploration datasets, NGE believes it has discovered a mineral system at South Grass Valley with the architecture and scale to potentially support multiple carlin-type gold deposits.
Nevada Exploration is up 20 per cent, trading at C$0.18 at 3:56 pm ET.