News
ORIGINAL: New Placer Dome Geophysical Surveys at Kinsley Mountain Continue to Generate New Targets and Completes Two Diamond Drill Holes at the Bolo Gold-Silver Project, Nevada
2022-02-14 08:00 ET - News Release
VANCOUVER, BC / ACCESSWIRE / February 14, 2022 / New Placer Dome Gold Corp. ("New Placer Dome" or the "Company") (TSX-V:NGLD)(OTCQB:NPDCF)(FSE:BM5) is pleased to announce the completion of the first phase of diamond drilling at the Company's Bolo Gold-Silver Project (the "Bolo Project" or "Bolo") in Nye County, Nevada. A total of 701 metres of core was drilled in two holes at the South Mine Fault Zone ("SMFZ"). Induced polarization (IP) / resistivity geophysical surveying continues at the Company's flagship Kinsley Mountain Gold Project (the "Kinsley Mountain Project" or "Kinsley Mountain") in Elko County, Nevada.
The purpose of the core drilling was to advance the development of a 3D geological model, and to continue to test the depth extent of SMFZ gold mineralization. The program included oriented core measurements to provide valuable structural and stratigraphic data that will used in the development of the 3D geological model and a potential future SMFZ initial mineral resource estimate. Both drill holes exhibited elevated arsenic, barium, and antimony values as determined by semi-quantitative hand-held portable X-ray fluorescence (XRF) analysis, associated with intervals of oxidation, decalcification, silicification, faults and breccias, all of which are known gold hosts at the SMFZ.
Max Sali, CEO and Founder of New Placer Dome commented, "Given the encouraging pathfinder element values and visual alteration observed in the Bolo core, we eagerly await the assay results from the drilling program. The data collected from the Bolo drill core will be instrumental in modeling the gold mineralization with the eventual goal of establishing an initial mineral resource for the SMFZ. With work also well underway at Kinsley, we look forward to leveraging the geophysical data collected to develop robust targets for drilling programs at both projects later in the year."
IP/Resistivity surveying is ongoing at Kinsley Mountain, currently targeting the frontier Kinsley North Range. Five lines totaling 15.9 line-km have been completed at Kinsley North to date. An additional nine lines totaling 29.7 line-km remain.
Highlights of New Kinsley North Range IP/resistivity and Geochemical Exploration Targets:
- 2021-2022 IP/resistivity surveys expanded 6.5 km north of the high-grade gold Western Flank Zone to test underexplored Kinsley North Range targets (Figure 1)
- Chargeability breaks indicative of significant displacement and arsenic ± antimony in soil anomalies are associated with property-scale northwest-trending fault structures analogous to those host significant gold resources along the Kinsley NW fault
- Chargeability/resistivity breaks and broad arsenic ± antimony in soil anomalies associated with northeast to northwest-trending block faulting exposing prospective lower Pogonip Group carbonate rocks, the host for much of the gold mineralization at the Long Canyon Mine[1]
- Chargeability highs associated with mapped jasperoid and arsenic-antimony in soil anomaly along north-trending fault structure in the centre of the range
- Nine Kinsley North IP/resistivity lines remain to be completed that cover a significant strike length of block faulted Pogonip Group and upper Notch Peak Formation rocks on the east side of the Kinsley Range.
Figure 1. North-northeast facing isometric view of Kinsley Mountain Project showing the 2020-2022 IP/resistivity survey chargeability inversions. Kinsley North Range inversions featured.
Methodology and QA/QC
A total of 14 lines totalling approximately 50.9 line-km have been completed during the 2021-2022 Kinsley Mountain Gold Project geophysical program. The lines are spaced 150 to 1,000 metres apart, with line lengths ranging from approximately 2.5 to 4.0 kilometres. Data were collected using the Direct Current Resistivity, Induced Polarization ("DCIP") method, on a 16-channel pole-dipole array with a dipole size (a-spacing) of 100 metres. A GDD GRx16 receiver and GDD 5000W-2400V-20A IP Tx model Tx4 transmitter was used. Raw data were loaded into GDD IP Post-Process software and Geosoft Oasis Montaj software for quality control and review. The reviewed data were used to produce pseudo section plots of apparent resistivity and apparent chargeability and were the input for the inversion. Inversions were completed using the UBC-GIF DCIP2D inversion codes. Each line of data was inverted independently. The resistivity and IP inversion is a two-step process. The resistivity inversion is run first, and this model is used in the chargeability inversion. Multiple inversions were completed for quality control.
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 Dome's flagship Kinsley Mountain Gold Project located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture), hosts Carlin-style gold mineralization, previous run of mine heap leach production, and NI 43-101 indicated resources containing 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)[2]. The Bolo Project, located 90 km northeast of Tonopah, Nevada, is another core asset, similarly hosting Carlin-style gold mineralization. New Placer Dome also owns 100% of the Troy Canyon Project, located 120 km south of Ely, Nevada. New Placer Dome 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) 604 367 8117
Email: msali@newplacerdome.com
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