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Nevada Exploration Inc.
Summary
| Project: | South Grass | |
|---|---|---|
| Deposit: | South Grass | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 5/16/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 16-5-2019: Nevada Exploration Inc. announces an Exploration/Drilling Update report for its South Grass deposit at the South Grass project. No significant assays returned from drilling. RENO, Nev., May 16, 2019 -- Nevada Exploration Inc. (“NGE” or the “Com | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Wade Hodges (Internal) | |
| ABSTRACT: | RENO, Nev., May 16, 2019 -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to present the results from its recently-completed 4,000-metre core drilling program at its South Grass Valley Project (the “Project”), where, as previously announced, the Company has discovered a large mineralized Carlin-type hydrothermal system, successfully achieving the objective of the Phase 1 drilling program. By integrating the geologic logging and assay results from the eight, wide-spaced, Phase 1 core holes with the Company’s other geophysical and geochemical datasets, NGE has: (1) confirmed the presence of the critical components required to host a Carlin-type gold deposit (“CTGD”); (2) confirmed that the scale of the geologic system is consistent with that required to host a significant deposit; (3) built a geologic model to guide continued exploration at this otherwise blind, covered target; and (4) designed a program for the next stage of exploration at what NGE considers to be one of the most important projects in Nevada in terms of its potential to host a major new CTGD. Wade Hodges, NGE’s CEO, discusses the results of the program: “If we look at the major Carlin-type systems in Nevada – company-making assets such as Goldstrike, Turquoise Ridge, and Cortez Hills – these deposits are the product of critical geologic components, or building blocks, coming together at the same place at the same time, namely: the right bedrock needs to have been in contact with the right faults and structures that have been used to transport the right hydrothermal fluids that have contained the right concentrations of gold - which in these Carlin-type systems is also found along with a characteristic suite of pathfinder elements. “Based on this known architecture, if there is a large CTGD at South Grass Valley, we would expect massive volumes of characteristic lower-plate limestone bedrock, within a structurally complex setting, showing evidence of intense hydrothermal alteration, and containing enriched concentrations of gold and associated pathfinders. Establishing that these critical components are present together at South Grass Valley, and importantly that each exists at a scale consistent with those same features responsible for Nevada’s major CTGDs, was the specific objective of the program; and as we’ve announced, this is exactly what we’ve found | |
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