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Nevada Exploration Commences Drilling at South Grass Valley

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centsability4me Member Level  Friday, 05/31/19 12:23:20 PM
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Nevada Exploration Commences Drilling at South Grass Valley Gold Project, Battle Mountain – Eureka (Cortez) Trend, Nevada

May 23, 2019

Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to announce that it has commenced its 2019 field program at its South Grass Valley Project (the “Project”). NGE plans 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.

A core drill rig has mobilized to the Project and has begun drilling at drill site SGVC009, 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 drilling.

News Release Image - May 23, 2019

As described in more detail in the Company’s news release dated May 16, 2019, based on the results of the 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, with this next phase of exploration NGE plans to add stratigraphic and geologic information beyond the limits of the Phase 1 drill holes, and to increase the density of geochemistry samples across all areas of the Project, together for the purpose of selecting and prioritizing targets for detailed in-fill drilling.

Wade Hodges, NGE’s CEO, discusses the upcoming program: “With more than three kilometres of strike length that still remains open, we see the potential for an entire new district here at South Grass Valley. To maximize this incredible upside, we plan to stick to our systematic approach to exploration that has brought us to this point.

“Having discovered a new Carlin-type system, our plan now is to increase our data coverage to get a handle on how big the system is and on where the best parts of the system are to potentially support higher-grade mineralization. To answer these questions, we’re looking to complete a combination of: (1) relatively-deep oriented core holes to provide deep stratigraphic, structural, and geochemistry information across new areas of the Project; (2) relatively-shallow reverse circulation drill holes (ideally using our Scorpion drill rig) to collect overburden, groundwater, and top-of-bedrock geochemistry samples to focus our efforts towards potential structural controls for mineralization; and (3) soil-mercury sampling to look for further evidence to support the projected continued extension of this Carlin-type system along strike. Drilling has begun, and we look forward to keeping our stakeholders updated at each milestone.”

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 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.

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