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Nevada Exploration Presents Final RC Drilling Results from South Grass Valley Carlin-Type Gold Project
RENO, Nev., May 27, 2020 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to report that the recently-
About this update from Urz3 Energy Corp.
[{"type":"text","content":" RENO, Nev., May 27, 2020 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to report that the recently-completed reverse-circulation (“RC”) drilling program at its South Grass Valley Project has focused the Company’s search for new Carlin-type gold deposits (CTGDs) to a mineralized corridor, which the Company believes is the potential common fluid source for three of the four target areas that the program was designed to advance. Having used RC drilling to cost-effectively increase its data coverage at the project, and thus its confidence in its geologic model, NGE is now preparing to return to core drilling to complete a carefully-targeted deeper drilling program to test this corridor, which NGE has named East Golden Gorge, for Carlin-type gold mineralization. Discussing how the latest drilling program has advanced the project, Wade Hodges, NGE’s CEO: “The objective of our preliminary, 2018-2019 core-drilling program at South Grass Valley, which consisted of 10 core holes spread along nearly four kilometers north-south, was to test for the presence of a Carlin-type mineral system large enough to support one or more multi-million-ounce Carlin-type gold deposits, at what is a completely-covered project that we identified as part of our hydrogeochemistry-led exploration program. Achieving this objective was a big milestone for the project and NGE, though it is important to point out that at the end of this initial program, while we believed we had successfully discovered a large new Carlin-type mineral system, our geologic model was made up of only a couple handfuls of drill holes across an area comparable in size to the entire northern Carlin Trend, in a part of Nevada where geologic features important for mineralization can change quickly, over short distances. “To continue to advance and de-risk this still early-stage project, the goal for our second round of drilling at South Grass Valley was to establish the major geologic controls for mineralization in order to guide our search for potentially economic deposits, and for this we needed to improve the resolution of our geologic model, which required many more drill holes. To maximize the number of pierce points we could complete, for this second round of drilling we changed to less-expensive RC drillin...