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North Peak Receives Permission to Expand Exploration Zone; New Area in Prospect Mountain East to Be Drilled Targeting Previous Homestake Hole
Calgary, Alberta--(Newsfile Corp. - October 8, 2024) - North Peak Resources Ltd. (TSXV: NPR) (t...
About this update from North Peak Resources Ltd
[{"type":"text","content":"North Peak Receives Permission to Expand Exploration Zone; New Area in Prospect Mountain East to Be Drilled Targeting Previous Homestake HoleCalgary, Alberta--(Newsfile Corp. - October 8, 2024) - North Peak Resources Ltd. (TSXV: NPR) (the \"Company\" or \"North Peak\") is pleased to announce that the Bureau of Land Management (United States Department of the Interior) has approved the Company's application to modify the Plan of Operations (PoO) at its Prospect Mountain property at Eureka, Nevada (the \"Property\"), resulting in a 642% increase (to 189.9 acres) of the area on which the Company can conduct surface exploration. This newly expanded surface exploration area now covers the main mountain ridge on the Property, including the more accessible east side.\"This extension of the permitted surface exploration area allows drilling for gold mineralization across a wider area of the Property than the original Plan of Operations exploration area covered,\" commented Brian Hinchcliffe, CEO. \"Drilling at Prospect Mountain East targeting the historic Homestake hole and its mineralization intervals is expected to begin shortly, as the four remaining holes being drilled in the Wabash zone should be finished this week.\"The Company will now move its focus on following up on the Prospect Mountain East area, which is at the foot of the east side of the mountain and where there is a historic Homestake hole intersection, where potential Carlin style mineralization was intersected. This isolated historical Homestake hole identified significant gold mineralization at this contact beneath overthrust barren rocks and opens up the potential along the eastern portion of the Property for \"hidden\" mineralization that doesn't outcrop, in an area previously thought as non-prospective. The Dunderberg shale Hamburg dolomite contact is important for localising CRD and Carlin style mineralization throughout the district and this is the same contact that is found at the Ruby Deeps area, just 6km away within i-80's Ruby Hill property. To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9875/225953_4c0bdbad34a87a1f_002full.jpgReview by Qualified PersonMr. Mike Sutton, P.Geo., a director of the Company, is the Qualified Person, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Pr...