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Carlin Gold Corporation - Agreement on Cortez Summit Property Terminated
VANCOUVER, British Columbia, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Carlin Gold Corporation (TSX Venture:CGD), ("Carlin" or the “Company”) announces that Barrick Gol
About this update from Carlin Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Carlin Gold Corporation (TSX Venture:CGD), (\"Carlin\" or the “Company”) announces that Barrick Gold Exploration (“Barrick”) has terminated the Exploration and Earn-in agreement on Carlin’s Cortez Summit property (“Cortez Summit” or the “Property”), Eureka County, Nevada. In 2017 Barrick completed one vertical core hole, SJV17-D, to a depth of 5,171 ft. (1,577 m.) collared near the Fourmile structural zone in the southwest portion of the Property. This drill hole was collared in post-mineral Miocene basalt and encountered altered and mineralized upper plate Vinini strata at 283 ft. (86 m.). The hole continued in upper plate rocks to the base of the Roberts Mountain thrust at 4,234 ft. (1,291 m.) below which is an essentially complete section of the favorable carbonate host rocks. The Company thanks Barrick for their work, and continues to believe that Cortez Summit is an excellent mining exploration opportunity. This view is supported by the existence of multiple additional quality targets on Cortez Summit which is located within one of the most well-endowed gold regions in North America. Drilling to date by Carlin and Barrick has tested only a small portion of ground in the southwest corner of the 4 square mile Property, and SJV-17-1D is the only hole to have fully penetrated the favorable lower plate section. Hornfels alteration in upper plate rocks, likely produced by the thermal effects of the nearby Jurassic age Mill Canyon quartz monzonite stock, has been encountered in most of the Carlin/Barrick drill holes. The thermal contact zone around the stock plays an important role in Barrick’s high grade success at their Fourmile target (below). Carlin is encouraged that this geological environment appears to extend east onto Cortez Summit and into the influence of the northwest trending Fourmile structural zone target. Carlin remains encouraged by the potential at Cortez Summit, and is evaluating future plans. Cortez Summit is contiguous with Barrick claims on all sides and on the west boundary (Goldrush side) adjoins the new Fourmile exploration target area described by Barrick in its February 22, 2016 News Release. Two high grade holes drilled by Barrick in 2015 at their Fourmile target north of the Goldrush re...