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North Peak Resources Signs Non-Binding Letter of Intent for Option on Black Horse Gold Property, White Pine, Nevada
North Peak Resources Signs Non-Binding Letter of Intent for Option on Black Horse Gold Pr...
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[{"type":"text","content":"\n \n \n \n North Peak Resources Signs Non-Binding Letter of Intent for Option on Black Horse Gold Property, White Pine, Nevada\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n CALGARY, AB,\n \n Oct. 14, 2021\n \n /CNW/ -\n \n North Peak Resources Ltd.\n \n (TSXV: NPR) (the \"\n \n Company\n \n \") announces it has signed a non-binding Letter of Intent (the \"\n \n LOI\n \n \") with Minex LLC (\"\n \n Minex\n \n \") dated effective\n \n October 7, 2021\n \n for a potential purchase option on the 2,733 acre Black Horse gold and silver property located 50 miles east of\n \n Ely\n \n in\n \n White Pine County, Nevada\n \n (the \"\n \n Option\n \n \"). Acquired by Minex in 1997, drilling campaigns in 1997-1998 of more than 300 holes identified a mineralization trend that strikes NE and appears to have a strike length of two miles with drilling generally at 100-foot centers.  A historical surface based resource of gold and silver for the Black Horse property was outlined in a\n \n Nov. 2016\n \n technical report for Minex, as described below.\n \n \n \"The Black Horse property last drilled in 1998 could provide the low cost gold production required to anchor North Peak's growth and ambitions,\" said\n \n Brian Hinchcliffe\n \n , Executive Chairman and CEO of the Company\n \n .\n \n \"\n \n Gary Grauberger\n \n who rediscovered and drilled out the Black Horse property in the late 1990's has a track record of finding and commercializing gold deposits and with Company director\n \n Mike Sutton\n \n will design new drill programs utilizing modern exploration technology.\"\n \n \n \n Black Horse Property Highlights:\n \n \n \n \n \n Historic resources\n \n – Historical inferred mineral resource estimates of 350,000 troy ounces of gold with a grade of 1.2 grams gold or 0.045 oz (using a base case cut off of 0.005 opt Au), plus 1,140 million oz of silver at 0.14 ounce per ton, was prepared for Minex in a technical report dated effective\n \n November 18, 2016\n \n by\n \n Scott E. Wilson\n \n , C.P.G. (the \"\n \n Techni...