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Consolidated Goldfields Increases Nevada Land Position with the Signing of the King Solomon Property, Nye County
Consolidated Goldfields Increases Nevada Land Position with the Signing of the King Solomon Property, Nye County.
About this update from Nexgen Mining, Inc.
[{"type":"text","content":"\n \n CONSOLIDATED GOLDFIELDS CORPORATION (“Consolidated” or the \n “Company”) (CDGF) is pleased to announce it has acquired a \n 100% interest in the King Solomon precious metal property with the \n execution of an Exploration and Mining Lease with Option to Purchase \n with Mountain Gold Claims Series 9 LLC and King Solomon Gold LLC.\n \n \n The King Solomon property is located 25 miles east of Tonopah, Nye \n County, Nevada, consisting of 2 contiguous claim blocks for a total of \n 66 claims (1320 acres) in the newly identified Monitor-Eureka Mineral \n Belt. This zone is a 3 mile long “Sediment-hosted/Carlin-type” trend \n similar to the recent Long Canyon discovery in the Pequop Mountains. \n Tertiary rhyolitic ash-flow tuffs and lower Paleozoic to Cambrian age \n carbonate rocks host gold-silver-antimony mineralization within the \n prospective zones.\n \n \n Previous exploration activities conducted in the area by Amselco \n Minerals, Kennecott, Newmont, Electrum, Renaissance Gold and MK Gold \n have provided Consolidated with a robust modern data base with which the \n Company can plan our future exploration programs. Previous drilling has \n delineated a historical, non-compliant NI 43-101 inferred resource of \n 64,000 ounces of gold (2,287,000 tons @ 0.028 opt Au) with opportunities \n for expansion in all directions along strike and at depth. Ore grade \n barite and antimony have also been discovered on the property.\n \n \n Marc J. Andrews, President and CEO of Consolidated Goldfields \n Corporation, remarked: “I believe this property has the potential to \n develop into a multi-million ounce ore body within a newly discovered \n precious metal mineral trend in Nevada with the potential to host \n several million-plus ounce gold ore deposits. We have negotiated a very \n favorable lease agreement with excellent terms under the current \n difficult market conditions allowing us significant flexibility for \n planning and execution of our future exploration and development \n programs. The addition of King Solomon represents a significant \n enhancement of our precious metal project portfolio since it is \n considerably more advanced than our other gold/silver projects.”\n \n \n The lease requires an advanced royalty payment of $2,500 and \n reimbursement of the BLM clai...