Business
Nevada Exploration July 2019 Exploration Update, South Grass Valley Gold Project, Battle Mountain–Eureka (Cortez) Trend, Nevada
RENO, Nev., Aug. 01, 2019 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide an update on exp
About this update from Urz3 Energy Corp.
[{"type":"text","content":" RENO, Nev., Aug. 01, 2019 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to provide an update on exploration activities at its South Grass Valley Project (the “Project”). Following up from the successful Phase 1 core drilling program the Company completed earlier this year, NGE is now drilling its second deep (>600 metre) diamond core hole of its spring–summer 2019 field program, representing another step-out to the north along the extension of the mineralized Carlin-type hydrothermal system discovered by the Phase 1 program. Based on the geologic logging and assays received to date from these new drill holes and the results of the Phase 1 program, NGE believes that it has defined a large blanket of silicification at South Grass Valley, with a strike length of more than three kilometres, that is consistent both in terms of size and architecture with the zones of silicification surrounding large Carlin-type gold deposits (“CTGDs”) within the Carlin and Battle Mountain–Eureka trends. NGE’s hole SGVC011 is currently ongoing and presently drilling through a multi-phase silica-sulfide breccia, starting at 630 metres and continuing to at least 770 metres, indicative of the characteristic hydrothermal processes associated with CTGDs in Nevada. Discussing the ongoing program, Wade Hodges, NGE’s CEO: “Large CTGDs cannot exist without affecting large volumes of adjacent bedrock. With our latest drill holes, we have direct evidence that suggests 1.8 cubic kilometers (and likely more) of lower-plate bedrock, the characteristic host rocks for CTGDs, has been highly altered and mineralized by pregnant Carlin-type hydrothermal fluids. This incredible volume of altered and mineralized bedrock simply cannot exist without major, complex, and long-lived fault zones having acted as a plumbing system to move mineralizing hydrothermal fluids to and through these rocks. “Carlin-type hydrothermal fluids will deposit silica, gold, and related pathfinder elements when they move upwards and encounter changes in pressure, temperature, and chemical conditions. As this depositional process continues the silica tends to seal off the conduits that have moved the fluids. With nowhere to go, the fluids build up pressure until they are released and form a bre...