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Gold In Nevada Is Booming, Here’s One Stock To Watch Out For

Stockhouse Editorial
1 Comment| September 10, 2020

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(Image via Peloton Minerals Corporation.)

The state of Nevada produces around 175 tonnes of gold every year and if it were a country, it would be the fifth largest gold producer in the world. One of the richest areas in Nevada for gold production is Elko County ….

Peloton Minerals Corporation (CSE: PMC, OTC: PMCCF, Forum) is an exploration Company focused on the acquisition and exploration of gold projects.

PMC is actively exploring three gold projects in Elko County, Nevada, all of which have seen various types of activity this summer with further activity planned over the fall. One project lies on the historic Carlin Gold Trend and two are located on the newly identified Long Canyon Gold Trend.

Stockhouse Editorial recently had the chance to speak with Peloton’s President and Chief Executive Officer, Edward (Ted) Ellwood, MBA, to find out more ….


1. Thank you for your time today. To begin, can you explain to our readers the importance of Peloton Minerals’ business model?

Peloton is a pure exploration company in that we are focused solely on the exploration phase of the mine life cycle. Our strategy is to acquire and advance a portfolio of projects that we feel could have the potential to interest a major company at some point. The end game it to sell the company. The portfolio approach, like investment, diversifies the risk and increases exposure to potential upside.


2. What are Carlin-style deposits and what makes them distinct?

Carlin-style gold deposits are often called the “invisible gold deposits” as the gold is very fine, is not visible and can only be detected through assay or geochemistry. In Nevada they are typically hosted in sedimentary rock, which is easy to crush and process, and the gold is often very evenly disseminated so production is typically low cost and reliable. The best part is that they can be very big, in the multi-million ounce range. They are perfect for major companies which is exactly why we are focused on Carlin—style deposits.


3. Can you speak to the geology in the area of Nevada that the Company is exploring?

In short, NE Nevada is a former sea or ocean bed, known as the Great Basin, which is why the surface rocks are sedimentary. In Nevada there are a series of Major Gold Trends, as they are called, which are trends that have hosted mine after mine all along each trend. One of our projects is situated on the famous Carlin Gold Trend itself and the other two are situated on the NE margin of the newly identified Long Canyon Trend. The new Long Canyon Trend is an exciting opportunity.


4. The 2020 drill targets were identified using Airborne Hyperspectral Imaging Technology. This sounds rather advanced, how does it work and what benefit does it offer your exploration work?

All minerals or species of mineral give a different electronic signature under UV light. That is the technology employed on the Mars Rover to see what kind of rocks are on Mars. We flew a 20,000 acre area around our Golden Trail project using hyperspectral UV to objectively map the mineralogy at surface. In particular, we were looking for important Carlin-style hydrothermal alteration minerals, specifically Alumina Illite and Ammonia Illite. We found several strong anomalies of this type just off of the original Golden Trail Property, which we subsequently acquired by staking, and also at our new Texas Canyon Project, five miles away, that we staked as a result of that airborne survey. This fall we will be drilling the hydrothermal alteration anomalies at Golden Trail and finishing a 43-101 report at Texas Canyon.


5. Peloton also has one past-producing gold project in Montana, the Silver Bell & St. Lawrence (SBSL) Project in the Virginia City Mining District with a joint venture partner funding exploration. What more can you tell us about this?

This project is an underground quartz vein type system which is not our main focus so we brought in a private equity firm as joint venture partner to move it forward. They are to spend US $2,000,000 by 2023 and last year they completed an initial drill program hitting 34 grams gold per ton in one intersection so that is a pretty good start!


6. Gold prices are trending higher and higher and records continue to be broken this year, what kind of comment can you provide on this positive news?

Of course, a higher gold price is great for the entire industry but especially for junior companies such as ourselves. It has been a long drought for the junior exploration sector but this rising price has given us a little water and shall I say the leaves are already starting to sprout!


7. The Company recently closed its $597,000 private placement, can you elaborate how these funds will be used to advance gold exploration in Nevada?

Yes, at a minimum this fall we will drilling about 2,500 feet at Golden Trail using RC, completing and publishing a 43-101 report on Texas Canyon, and filing applications or amendments for drilling permits on all three Nevada projects. We may also conduct a very sophisticated AMT geophysical survey at Golden Trail following the drilling.


8. Looking six months to a year down the road, what do you predict for the future of your business to excite investors?

Well, a new discovery in Nevada “elephant country” would surely be exciting but we will have to see where the science takes us. As I say, we are moving our projects forward as a portfolio, diversifying the risk but also increasing the exposure for upside. With our disciplined project selection approach and dedication to the science, I feel that it is only a matter of time before one or more significant discoveries are brought forward.


9. Thank you again for your time today, anything further to add?

Just to thank our shareholders for their continued support, we have a great foundation of investors and we are looking forward to sharing more exciting news on the Nevada projects soon.

To find out more about this Company, visit pelotonminerals.com.



FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.


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Peloton's shareholders can rest assured they have completely devoted and qualified Management, Board of Directors, Advisory team and Consultants to develop their Exploration Projects in Nevada and Montana.
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September 10, 2020

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