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Peloton Minerals Advances All Four Gold Exploration Projects in 2019 and Announces Recommendations for Follow-up Exploration in 2020
January 9, 2020 - TheNewswire - London, Ontario - Peloton Minerals Corporation ("Peloton" or the "Company") (CNSX:PMC.CN) (OTC:PMCFF) advanced all four of the C
About this update from Peloton Minerals Corp.
[{"type":"text","content":"January 9, 2020 - TheNewswire - London, Ontario - Peloton Minerals Corporation (\"Peloton\" or the \"Company\") (CNSX:PMC.CN) (OTC:PMCFF) advanced all four of the Company's gold exploration projects during 2019 and all four projects are recommended for follow-up exploration programs in 2020. Three of the projects are located in Elko County, Nevada and one project is in the Virginia City Mining District, Montana with the 2019 exploration results and 2020 plans provided in alphabetical order of the project as below. Golden Trail Project, Nevada - In late 2019, Peloton conducted 1,213 feet of core drilling with 11 holes completed to an average depth of 65 feet and average length of 110 feet each from one of eleven drill pads covering a strike length of 300 feet and width of about 110 feet along a 310 degree azimuth. Ten of the holes were drilled in two rows of five drill holes forming five panels of scissored drill holes with - 45 degree inclination and opposing 220 and 40 degree azimuths. All holes contained gold and silver mineralization, typically from the top to the bottom of the hole with 82% of the tested footage and 75% of the samples above the gold detection limit. Gold assays (ALS Minerals fire assay with AAS finish) above the detection rate ranged from 0.005 grams per tonne (g/t) to 0.092 g/t with Silver assays ranging from 0.5 g/t to 74.8 g/t. This mineralized zone is continuous over a strike length of 300 feet and to a depth of 65. It is open in both directions along strike and to depth. The Company considers this continuity from such an early stage drilling program to be significant and would look for both expansion of the zone and an increase in grade from follow-up exploration. At this time, drill data including assays, geochemical analysis, mineralogy and hyperspectral mineralogical data are being compiled into a three dimensional model to help identify structural controls and to guide further exploration. Included in this data set is an airborne hyperspectral survey covering the surface of the entire 900 acre property and extensive historical surface sampling and trenching described below. The follow-up recommendations are expected to be an IP geophysical survey, detailed mapping, and additional drilling along strike and at depth. Gold mineralization at Golden Trail is generally centered on approximately 10 square ...