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Peloton Minerals: Drilling Confirms Hydrothermal Alteration and Mineralization Continues to Depth at the Golden Trail Project, Elko County, Nevada
London, Ontario – TheNewswire - June 17, 2021 – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE:PMC) (OTC:PMCCF) (CNSX:PMC.CN) reports that a 2,100 f
About this update from Peloton Minerals Corp.
[{"type":"text","content":"London, Ontario – TheNewswire - June 17, 2021 – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE:PMC) (OTC:PMCCF) (CNSX:PMC.CN) reports that a 2,100 foot reverse circulation (RC) twelve hole drilling program conducted earlier this year at the Company’s Golden Trail Project in Elko County, NV has confirmed that a series of hydrothermal alteration anomalies identified at surface by airborne hyperspectral analyses extend to at least a vertical depth of 195 feet, with high temperature hydrothermal alteration minerals intersected in all of the drill holes as well anomalous gold, silver (average 0.98 g/t; range 0.08 to 8.52 g/t; 420 analyses) and pathfinder elements. The hydrothermal alteration appears to be within the hanging wall of north-west striking and north-east dipping faults mapped at surface. The next step will be to conduct two deep-penetrating geophysical programs to try to image the source of the mineralizing fluids and to plan a deeper drilling program in this area. The RC drilling samples were subjected to multi-element analysis as well as hyperspectral imaging to classify the minerals and mineral mixtures. Most samples contained muscovite, illite, NH4 illite, or white mica and were anomalous in gold, silver, and/or pathfinder elements (As, Cu, Sb, Pb, Sn, V, and Zn) to the depth of drilling. These minerals indicate relatively higher temperatures of epithermal hydrothermal fluids. The series of surface hydrothermal anomalies was first identified by an airborne hyperspectral survey and followed up in the field using a portable spectrometer and parallels the north-west trend of a gradient change in a gravity anomaly. This drilling confirms the anomalies extend to depth and are not limited to the surface, like a veneer. The hydrothermal alteration appears to be oriented to a series of north-west trending faults and the next step will be to conduct an Audio-frequency Magnetotellurics (AMT) geophysical imaging survey as well as an Induced Polarization (IP) geophysical survey to image the sub-surface structure and potentially image the source of the mineralizing fluids. This should enable effective planning of a deeper drill program. Golden Trail is a gold exploration prospect that has a Carlin-style alteration mineral assemblage associated with anomalous gold. The prospect is 100% owned by Peloton, comprises approx...