v.NGLD
ORIGINAL: New Placer Dome Resumes Geophysical Survey at the Kinsley Mountain Gold Project and Drilling at the Bolo Gold-Silver Project in Nevada
2022-01-10 08:03 ET - News Release
VANCOUVER, BC / ACCESSWIRE / January 10, 2022 / New Placer Dome Gold Corp. (" New Placer Dome " or the " Company ") (TSX-V:NGLD)(OTCQB:NPDCF)(FSE:BM5) is pleased to announce resumption of the diamond drilling and the completion of induced polarization (IP)/resistivity geophysical survey at the Bolo Gold-Silver Project (the " Bolo Project " or " Bolo ") in Nye County, Nevada. Geophysical crews have been re-tasked to the Company's flagship Kinsley Mountain Gold Project (the " Kinsley Mountain Project " or "Kinsley Mountain" ) in Elko County, Nevada, to complete the remaining IP/resistivity surveys in the underexplored Kinsley North Range area of the Kinsley Mountain Project.
During late 2021, a total of 260 metres (853 feet) of core was drilled in hole BL21-01 at the South Mine Fault Zone, the first ever diamond core hole drilled at Bolo. Semi-quantitative hand-held portable X-ray fluorescence (XRF) analysis of the drill core indicates the presence of anomalous gold pathfinder elements, including elevated arsenic and antimony values. These values are associated with visually observed oxidation, decalcification, and silica alteration, coincident with the interpreted depth projection of the gold zone.The Company plans to complete the remainder of its 6 initial high-priority diamond drill holes at Bolo during Q1 of 2022, totaling approximately 1,700 m. The planned drill holes will target the Mine Fault and other mineralized structures associated with the South Mine Fault, Uncle Sam, and Northern Extension mineralized gold zones.
Max Sali, CEO and Founder of New Placer Dome commented, "We are encouraged by the initial observations and data collected from the first diamond core drilling program completed at Bolo. The Company looks forward to receiving laboratory analytical results from the first, and subsequent drill holes in the coming months. We are also pleased to resume geophysical surveys at Kinsley Mountain after completing a successful IP/resistivity program at Bolo in December."
Gold mineralization at Bolo exhibits characteristics of classic Carlin-type (CT) mineralization, including strong structural control and evidence of gold mineralization that extends laterally within favorable silty carbonate stratigraphic units. The 2021-2022 Bolo diamond drilling program is utilizing oriented core measurements that will yield valuable structural and stratigraphic data to assist the development of a 3D geological model for the South Mine Fault Zone and reveal detailed structural and stratigraphic controls on mineralization.
The Bolo IP/resistivity geophysical surveys were completed in December 2021, expanding coverage
1 km north from the limits of the 2019 IP/resistivity surveys to encompass the north extensions of the prospective Mine Fault and East Fault targets ( see New Placer Dome news release dated December 22, 2021 ). A total of 14.4 line-km were completed over 5 lines, the results of which are currently being reviewed by the Company's technical team.
Geophysical crews have been re-tasked to Kinsley Mountain to resume IP/resistivity surveys in the Kinsley North Range area ( see New Placer Dome news releases dated July 20, 2021, October 7, 2021, and November 22, 2021 ). A total of 37.5 line-km, over 10 lines were completed during 2021. That first phase of IP/resistivity surveys both infilled between the 2020 Shale Saddle and Western Flank Zone grids and extended it. A single line was completed in the underexplored Kinsley North Range in 2021, with an additional 39 line-km planned.
About New Placer Dome Gold Corp.
New Placer Dome Gold Corp. is a gold exploration company focused on acquiring and advancing gold projects in Nevada. New Placer's flagship Kinsley Mountain Gold Project is located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture) and hosts Carlin-type gold mineralization. It had a previous run of mine heap leach production and has
NI 43-101 indicated resources of 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes).[1] The Bolo Project, located 90 km northeast of Tonopah, Nevada, is another Company core asset, similarly hosting Carlin-type gold mineralization. New Placer Dome also owns 100% of the Troy Canyon Project, located 120 km south of Ely, Nevada. The Company is run by a strong management and technical team consisting of capital market and mining professionals with the goal of maximizing value for shareholders through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favorable jurisdictions.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of New Placer Dome Corp., and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects . Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.
On behalf of the Board of Directors,
/s/ "Max Sali"
Max Sali , Chief Executive Officer
Contact Information:
Max Sali, Chief Executive Officer & Director
Tel: (604) 367-8117
Email: msali@newplacerdome.com