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Nevada Exploration: South Grass Valley Carlin-Type Gold Project - June 2022 Update
Highlights: Drillhole SGVC014 stopped at 534 metres due to lost tooling, being redrilled as SGVC014A, and now at 640 metres. Features of significance in the ~60
About this update from Urz3 Energy Corp.
[{"type":"text","content":" Highlights: Drillhole SGVC014 stopped at 534 metres due to lost tooling, being redrilled as SGVC014A, and now at 640 metres. Features of significance in the ~600 metres logged match the Company’s expectations based on its exploration model. Alteration, geochemistry, structure, and lithology all continue to provide evidence for a characteristic setting for Carlin-type mineralization that has been exploited by mineralized hydrothermal fluids. Pathfinder and alteration intensities suggest the mineralizing fluids seen in the upper units drilled so far were sourced from depth in the direction of the Hales Formation, which underlies the Goodwin Formation that SGVC014A is drilling through presently. Results from upper units highlight importance of completing the drillholes in the southern area of project to their planned ~1,000 metre depths to reach the Hales Formation, the targeted host unit at the project. RENO, Nevada, June 9, 2022 (GLOBE NEWSWIRE) — Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) is pleased to provide an update from the ongoing core drilling program at its South Grass Valley Carlin-type gold project (the “Project”) located 50 kilometres south-southwest of Nevada Gold Mines’ Cortez complex. Drillhole SGVC014 was stopped in early May at 575 metres due to the drill steel breaking at 347 metres (~228 metres above the bottom of the hole), which NGE’s drill contractor Drill NV believes was the result of ongoing challenges associated with voids within the bedrock. Drill NV has restarted drilling in this location with drillhole SGVC014A, has successfully installed PQ-sized drill rods to a depth of 356 metres to effectively case off the challenging interval, and is now continuing to core drill with HQ rods. SGVC014A is presently at a depth of 640 metres. NGE has now completed logging and collecting pXRF-derived geochemistry from the core from SGVC014 (core samples collected from 359 to 575 metres). As suggested by the early logging, the observations and data from the completed logging are consistent with the Company’s exploration model at this south end of the project. STRATIGRAPHY: after entering the Antelope Valley Formation at 130 metres, SGVC014 continued into the Goodwin Formation. Near the bottom of the hole, the sequence of Goodwin units began to also contain what appear to be smaller inter...