Drilling Into High-Grade Nevadan Gold
by Mike Fagan
New Placer Dome Gold (TSX-V: NGLD)(OTC: NPDCF) — currently trading just below C$0.25 per share — has drilled 24.1 grams per tonne gold over 4.6 meters at the Western Flank Zone of its flagship Kinsley Mountain Gold Project, Nevada, where the company has an 80% earn-in option.
That result is within a longer high-grade gold intercept of 15.1 g/t over 7.6 meters, and, importantly, sits 100 to 200 meters shallower than the average depth of the known resource.
Results from 27 holes are still pending, and the company expects assays from the past-producing Main North pit shallow oxide target imminently.
New Placer Dome Gold CEO, Max Sali — whom you’ll be hearing more from in a moment — commented via press release:
Kinsley is a past-producer that remains open to the northwest. And despite significant lab delays, the company expects additional drill assays to be delivered within the next 4 to 6 weeks, which the company will then utilize in the delineation of drill targets for the upcoming summer drill program.
Keep in mind also that while this is still early-stage, the Kinsley Mountain project has already produced an initial NI 43-101 compliant resource of:
- 418,000 Indicated ounces at 2.63 grams per tonne (g/t) gold;
- Including 302,000 Indicated ounces at 6.11 g/t gold at the Western Flank Zone
- Plus another 117,000 Inferred ounces at 1.51 g/t gold
- With gold mineralization occurring at shallow depths
Management believes the level of Carlin-style gold mineralization confirmed to-date has the potential to increase the above resource in multiple zones while lending to an open pit concept.
For speculators in the junior gold space, New Placer Dome represents an early-stage, high-potential exploration play in a proven mining district where the drills will soon tell the story.
Our own Gerardo Del Real of Junior Resource Monthly sat down with New Placer Dome CEO, Max Sali, to go over the high-grade gold hits and next-steps for Kinsley. You can listen in to the interview here (transcript version is also available).
Our most recent report on New Placer Dome Gold can be accessed here.
Yours in profits,
Editor, Resource Stock Digest
Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers. sign up RSD: