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Black Mountain Gold USA Corp. Receives Final Airborne Geophysical Survey Data, Initiates 2021 Exploration Program at its Mohave Gold Project, Arizona and Announces Private Placement
Vancouver, British Columbia--(Newsfile Corp. - January 19, 2021) - Black Mountain Gold USA Co...
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[{"type":"text","content":"Black Mountain Gold USA Corp. Receives Final Airborne Geophysical Survey Data, Initiates 2021 Exploration Program at its Mohave Gold Project, Arizona and Announces Private PlacementVancouver, British Columbia--(Newsfile Corp. - January 19, 2021) - Black Mountain Gold USA Corp. (TSXV: BMG) (\"BMG\" or the \"Company\") is pleased to announce it has received the final data sets for the airborne magnetic (MAG) and radiometric (RAD) geophysical surveys completed its Mohave Gold Project, Arizona in late 2020. The survey was completed by Precision GeoSurveys Inc. (\"Precision\") of Langley, B.C. utilizing helicopter-borne survey equipment over a grid covering the entire Mohave Gold Project (approx. 12 km2) with line spacings of 50m. The Company is also pleased to announce it has initiated its 2021 exploration program at Mohave starting with a mechanical rock-chip sampling program scheduled to commence in February. In addition to the technical work on the project, the Company is pleased to announce a financing via a private placement.Geophysical SurveysThe geophysical surveys were undertaken as part of the initial evaluation of the controls of the low sulfidation epithermal precious metal mineralization outlined on the property by the sampling program completed in 2020 by M3 Metals (see M3 Metals news release dated May 5, 2020). The MAG survey data, predominantly Total Magnetic Intensity (TMI) and Reduced to the Pole (RTP), suggest two domains, north and south, of variable magnetic signature. In the northern half of the project the MAG data outlines several discrete circular MAG-high anomalies which correlate well with mapped diorite bodies associated with areas of precious metal mineralization as well as several additional zones with little to no exploration history. In addition, the MAG data reveals several prominent areas of northeast-trending faulting and zones of intersecting faults that correlate with relatively flat-lying gold-bearing quartz-calcite veining which warrant additional geological mapping and sampling. In the southern portion of the property the MAG data indicates the area is dominated by north-south trending faults which intersect a MAG-low corridor. Historic mining and sampling in the southern portion of the project indicates gold mineralization is hosted primarily by steeply dipping quartz-carbonate veins. The MAG ...