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Nevada Exploration: South Grass Valley Carlin-Type Gold Project – March 2022 Update
Highlights Diamond drillhole SGVC013A completes objective of verifying the location of and sampling a 149-metre drill-thickness of the district-scale Water Cany
About this update from Urz3 Energy Corp.
[{"type":"text","content":" Highlights Diamond drillhole SGVC013A completes objective of verifying the location of and sampling a 149-metre drill-thickness of the district-scale Water Canyon structural corridor (“WCSC”); The upper portion of SGVC013A intersects fault-hosted hydrothermal breccias containing intensely silicified transported fragments from host rocks below that suggest the drillhole is proceeding towards the source of the Carlin-type hydrothermal fluids; NGE to mobilize additional deep-capacity drill rig to facilitate drilling deeper to follow these features of significance down to the primary host unit; and While preparing to drill deeper at SGVC013A, NGE begins drillhole SGVC014 targeting two potential traps for mineralization where lower-plate host rocks meet the Grass Valley Stock. RENO, Nev., March 28, 2022 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) is pleased to provide its March update from the ongoing exploration program at its South Grass Valley Carlin-type gold project (the “Project”). NGE CEO, James Buskard: “As we shared in January, based on our latest geologic model we chose to carefully reorient SGVC013A to maximize our chances of intersecting the WCSC. It was not easy, nor fast, but we have now successfully penetrated and sampled a 149-metre drill-thickness of what we believe to be the main fault corridor. The early results validate our exploration concept and suggest that the drillhole is proceeding towards the source of the mineralized hydrothermal fluids, in the direction of our East Golden Gorge target. Now that we are finished sampling the challenging WCSC above, we are preparing to drill a new deeper rotary pre-collar with core tail to maximize our chances of intersecting the targeted host rock, the Hales Formation. “In parallel to preparing to drill deeper at SGVC013A, we have begun our next drillhole SGVC014, located 1.1 kilometres west, in the vicinity of the highest gold in groundwater we see at the Project, where the favourable lower-plate host rocks project closer to the surface, along the margin of the Grass Valley Stock. The location of SGVC014 allows us to test two target concepts – exploring for Fourmile-style, structurally controlled high-grade mineralization within the metamorphic aureole of the intrusive stock, as well as testing the Hales Formation below, w...