ORIGINAL: New Placer Dome and Copaur Minerals Commence Drilling Aa the Bolo, Nevada Project and Provide Operational Update
2021-12-22 03:06 ET - News Release
VANCOUVER, BC / ACCESSWIRE / December 22, 2021 / New Placer Dome Gold Corp. ("New Placer Dome" or the "Company") (TSXV:NGLD)(OTCQB:NPDCF)(FSE:BM5) and Copuar Minerals ("Copaur Minerals") (TSX-V:CPAU) are pleased to announce that a 1,700 metre diamond drill program has commenced at the Bolo gold-silver project (the "Bolo Project" or "Bolo"). New Placer Dome is also pleased to announce that the final share issuance pursuant to the Bolo earn in agreement has been made. The diamond drill program will focus on expansion of existing at surface, Carlin style, high-grade gold-silver oxide, mineralized zones.
New Placer Dome has planned an initial 6 high-priority diamond drill holes at Bolo totaling approximately 1,700 m targeting the Mine Fault and other mineralized structures that host the South Mine Fault, Uncle Sam, and Northern Extension mineralized gold zones. The program is expected to significantly assist the development of a 3D geological model for the South Mine Fault Zone.
Jeremy Yasenuik and John Williamson of the Metals Group, Max Sali, CEO of New Placer Dome Gold Corp., on site at the Bolo Project - December 2021
Bolo diamond drill rig testing a priority target - December 2021
Drill core from drill hole BL21-01 showing mineralized, decalcified, silicified, and brecciated interpreted Windfall Formation within South Mine Fault Zone ( 579-599 ft.)
"Last week, our team and the Metals Group completed a site visit to Bolo where core drilling of initial priority holes and dirt works for future pads is already underway. Seeing Bolo in person again reminded us of the potential of this Carlin asset and both parties are very excited to work together on advancing this asset" stated New Placer Dome's CEO Maximilian Sali.
Copaur Mineral's CEO Jeremy Yaseniuk commented, "Witnessing this asset for the first time, drives home why Nevada is such a world class jurisdiction to work in. The project is easily accessible by vehicle year-round and the mineralization is open to expansion. It will be exciting to explore its full potential. We look forward to completing the transaction with New Placer Dome."
The 2021 program will in part expand and step-out on results from the successful 2019 and 2020 RC programs (see New Placer Dome news releases dated November 7, 2019, and February 1, 2021) including:
- 84 metres of 1.37 g/t gold in hole BL19-011, and
- 122 metres of 1.2 g/t gold; including an upper zone of 37 metres of 2.1 g/t Au and a new discovery lower zone of 12.2 metres of 3.32 g/t gold in hole BL19-041, and
- 24 metres of 1.38 g/t Au; including 6.1 metres of 4.35 g/t Au at surface in BL20-021, and
- 61 metres of 0.74 g/t Au in hole BL20-031, and
- 98 metres of 0.54 g/t Au in hole BL20-051, and
- 98 metres of 0.41 g/t Au in hole BL20-061
The combined 2019/2020 and historical RC drilling at Bolo defines a 1.2 kilometer north-south trending corridor of gold-silver mineralization containing the South Mine Fault Zone, Uncle Sam, and Northeast Extension zones. Gold mineralization at Bolo exhibits characteristics of classic Carlin-type mineralization, including strong subvertical structural control in addition to evidence of gold mineralization extending laterally at low angles within favorable silty carbonate units. The relatively untested 500 m strike length South Mine Fault-Uncle Sam segment is particularly prospective and is the continued focus of the 2021 drilling (Figure 1).
In conjunction with the diamond drill program, a program of expanded induced polarization (IP) resistivity geophysical surveys are now underway. The 2021 IP/resistivity surveys will extend geophysical coverage one (1) km northward to encompass the north extensions of the prospective Mine Fault and East Fault targets.
Surface sampling at Bolo has defined widespread gold mineralization, associated with jasperoids, iron-stained structures, and anomalous pathfinder elements including barium, mercury, arsenic, and antimony along two parallel north-south trending faults known as the Mine Fault and the East Fault. Alteration along the Mine Fault has been traced for 2,750 metres, with outcrop sampling returning gold values of 5.2 g/t gold (South Mine Fault Zone). The East Fault has been mapped for 2,200 metres and has returned gold values of 4.6 g/t gold (East Fault).