... historic drilling at SGV encountered ...... lower plate carbonates under shallow cover. Deepest contact with the lower plate carbonates was 130 metres so they have confirmed the right geology for a Cortez Look a like deposit exists at SGV.
What I find interesting about the 8 shallow holes that were drilled at SGV were right around the high gold in ground water samples? How did they know to drill this area of the basin other than there were lower plate carbonates exposed at Goodwynn Butte and at the south end of the basin. Blind luck but they didn’t drill far enough to hit gold mineralization? NGE must be hoping the gold mineralization associated with the gold in ground water anomalies is much deeper at SGV.
I also assume they feel SGV is the best target to drill for chance of success. I wish I was a geologist so I could understand why this area has a better chance of delivering a discovery than Kelly Creek which Scorpion rig has already proved the area has a gold deposit (just uncertain on size and grade).
Anyways ... I seem to keep repeating myself trying to understand the exploration and drilling strategy. I can only hope they hit at SGV, raise more money at higher share price, and then drill Kelly Creek for another discovery. And before they tip their hand to the market, the stake the two dozen other prospects where they have identified gold in groundwater anomalies.
If they hit at SGV, Kelly Creek and wrap up over 20 more prospective properties, it is conceivable that NGE could be the biggest gold company in the world with zero production.
Don’t listen to me though. I am a novice investor.
ShellsRFun69