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Riley Gold Executes Strategic Land Package Agreements to Extend Pipeline West/Clipper Project Adjacent to the Nevada Gold Mines JV
VANCOUVER, British Columbia, May 19, 2021 (GLOBE NEWSWIRE) -- Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (“Riley Gold” or the “Company”). is pleased to annou
About this update from Riley Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 19, 2021 (GLOBE NEWSWIRE) -- Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (“Riley Gold” or the “Company”). is pleased to announce that the Company has significantly increased its land holdings near and adjacent to the Pipeline West/Clipper Project (“PWC”), located 80 kilometers (“km”) southwest of Elko, Nevada. This strategic acquisition includes two claim blocks totaling approximately 3.25 square kms (1.26 square miles) between the already well-positioned PWC and the Nevada Gold Mines joint venture (“JV”) (operated by Barrick and Newmont) boundary, just west of the Gold Acres and Pipeline deposits within the Cortez complex portion of the Battle Mountain-Eureka Trend (Figure 1). “We were happy to be able to execute agreements that strategically fills the gap, along strike, between our PWC property boundary and the Gold Acres/Gap/Pipeline deposits controlled by the Nevada Gold Mines JV. This property transaction was important in order to enhance Riley Gold’s district scale land package and cover the west to east extension of the Wenban geological unit that is known to be the host of gold mineralization in this district, including gold production at the Nevada Gold Mines JV, Pipeline and Cortez facilities. An exploration program will be designed to enhance the known information within the district as well as garnered from previous historical work, where Riley Gold believes that the Wenban target was not tested adequately”, commented William Lamb, Executive Chairman of the Board of Riley Gold. About the Pipeline West/Clipper Project PWC constitutes a very prospective, early staged exploration property for Carlin-type disseminated and replacement gold deposits. The project consists of a land package now totaling approximately 24.7 square kms (9.5 square miles) of unpatented mining claims and patented (fee) lands adjacent to properties controlled by the massive Nevada Gold Mines JV. PWC lies within the exceptionally productive Cortez trend portion of the Battle Mountain – Eureka Trend in north central Nevada (Figure 2). The Cortez section of this trend has a gold endowment of more than 50 million ounces (past production + current reserves & resources). Several multi-million ounce past and currently producing gold mines including Pipeline, Cortez Hills, Fourmile and Goldrush are located southeast...