Dual Nevadan Gold Discoveries
by Mike Fagan
Jan. 7, 2021
New Placer Dome Gold (TSX-V: NGLD)(OTC: NPDCF) – currently trading below C$0.40 per share – is preparing to release assays, as early as this coming Monday, from its flagship Kinsley Mountain Gold Project and, soon after, from its Bolo Gold Project — both located in mineral-rich Nevada, USA.
The Kinsley Mountain project, which hosts Carlin-style mineralization, already boasts an NI 43-101 indicated resource of 418,000 ounces of gold at 2.63 grams per tonne and an inferred resource of 117,000 ounces of gold at 1.51 grams per tonne. The company is systematically working toward expanding the known resource at Kinsley by way of the drill.
With approximately 50 holes now complete via multiple rigs, New Placer Dome anticipates releasing an initial batch of 9 holes, early next week, from the western flank of Kinsley — considered one of the highest-grade targets on the entire 4,187 hectare property.
And the news flow will not slow down there as management expects to release about 9 holes from Bolo in the weeks to follow plus additional holes from Kinsely as they’re made available.
As you may recall, last year’s drilling at Bolo delivered a number of exceptional intercepts including 4.35 grams per tonne gold over 6.1 meters with mineralization increasing at-depth.
Needless to say, these next two batches of results have truly been a long time in the making as Nevada labs have been backed up for months due to the thousands upon thousands of meters drilled over the last few quarters coupled with some COVID related delays.
Yet, from a shareholder perspective, drilling is what it’s all about… and Nevada’s mineral-laden geology is ultra-busy for a reason!
Our own Gerardo Del Real of Junior Resource Monthly and Junior Resource Trader sat down with New Placer Dome Gold CEO, Max Sali, for a preview of the forthcoming drill results plus a look ahead to what’s next for the company’s two premier Nevada gold projects.
You can also click here for our most recent report on New Placer Dome Gold.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
New Placer Dome Gold (TSX-V: NGLD) (OTC: NPDCF) CEO, Max Sali, on Forthcoming Assays from Kinsley Mountain and Bolo Gold Projects — Nevada, USA
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO and founder of New Placer Dome Gold — Mr. Max Sali. Happy New Year, Max!
Max Sali: Happy New Year, Gerardo! Thank you for having me.
Gerardo Del Real: Thanks for coming back on. We've been back and forth the last several months waiting for the results from Kinsley Mountain. We know that the labs have been extremely backed up. You and I joked last week privately that you said you had been waiting all year for these results.
I joke that I've been waiting since 2015 to see Kinsley drilled properly. The drilling is complete. The assays are now starting to flow in. We also have holes from Bolo that we should expect in the coming weeks.
So I just wanted to update everybody as to what to expect, when to expect it, and from where to expect it. But first off… Happy New Year, Max! How are you?
Max Sali: I am good, Gerardo. Yes. You know what… as you said, it's been a nightmare waiting for the lab to get results. But thinking about it now, sort of 2021, it almost seems like a blessing because we went through that period of September, October, November, and even part of December where no one was getting any love — even with good drill results. Because, I think, gold was under a lot of pressure.
But going into a new year, I think we're going to see new highs for gold. And as we've seen today so far — the price is up significantly. And I think the timing is as good as it's going to be for New Placer Dome to put out some news flow on Kinsley.
Gerardo Del Real: And so you're starting to receive samples now? You're starting to put that data together? Is that accurate, Max?
Max Sali: We are now done receiving all assays for the first nine holes that we sent to the lab; I think it was August 28th! So this tells you how long things have taken.
Gerardo Del Real: Oh, wow!
Max Sali: And with releases being built right now… so we have all the data… we're just doing the QA/QC. It's going to our partner for review but we expect to announce the first nine holes drilled at the western flank. That is where the current resource is – the high-grade of over six grams for 300,000 ounces – very high grade.
And we will be putting out the news release – if everything goes on schedule – January 11th. So next Monday, you will see the first nine holes out of Kinsley at the western flank zone.
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Gerardo Del Real: Excellent! And just to be clear, you drilled nearly 50 holes. So we're going to get the first nine but there's a lot of news flow coming out of Kinsley over the next several months, correct?
Max Sali: Yeah. So the first nine holes were RC that we did here at the western flank. What you're going to see is these holes. And then moving forward, you're going to see the holes from new areas. So essentially, it's high-priority targets where we're expecting to find a new discovery… different parts of the property that had never been drilled.
And so we're very excited to try and make a new discovery on the property. And then, following the Kinsley release on Monday, in about two weeks, you're going to see the remaining holes at Bolo.
And I think that is nine holes as well. So there's a lot of news flow coming out of New Placer Dome over the next, I would say, two to three months depending on the labs. But we're here and we're very close to showing the market what Kinsley has to offer so far.
Gerardo Del Real: Excellent. Well, I obviously am looking forward to the results. I know subscribers and readers and people that follow both New Placer Dome Gold and Nevada Sunrise are excited for results. Looking forward to that.
I love the fact that you not only drilled to find extensions but you did significant exploration drilling, which, of course — it's high-risk, high-reward.
We all know what exploration is… but I’ve got to believe you and the team feel that you properly tested a good portion of the property and probably have an indication of areas you want to follow up on, right?
Max Sali: Yeah. So we did. We definitely spent a lot more money this season at Kinsley. I think it's been seven years since Kinsley had a real work program. And so we spent about $3.6 million. We drilled almost 18,000 meters in a bunch of new areas.
At one point we had three drills turning. And so we really went and spent the money, like you said before, with the truth machines. What will happen is – as the results are coming in – we'll be able to then make our drill program for 2021.
And the reason is – as our partner, Liberty, said too – is you're kind of drilling blind because the results in the lab were so delayed that you start hoping, in a perfect condition, you get some numbers back. Okay, we're going to drill more here. You get the numbers back; not very good… we're going to do less here.
And so we drilled 18,000 meters blind but we had some very, very good targets. We had a lot of work before we went and drilled those targets with some of the best advisors in the business.
And so I think we gave Kinsley a real shot. And with the success of this year, you're going to see a program probably twice the size next year.
Gerardo Del Real: And then, again, for those that aren't familiar — we know Kinsley is the main event. But Bolo is a significant project in itself in that the grades, so far, are consistent for an oxide, potentially heap leach operation, right?
I know that's getting way off further into the future but some of the smartest geos in the business have commented in a similar tone. Talk a little bit about Bolo because I think it's an underappreciated property. And I think Bolo has the potential to compliment Kinsley extremely well in the future.
Max Sali: So Bolo, like Kinsley, they're both Carlin deposits. Kinsley is more sulfide; Bolo is oxide. In Nevada, anything over a gram oxide is economical. Companies are mining 0.3 of a gram oxide. And so we've hit long intercepts over 12 meters of 3.3 grams oxide.
So you're talking massive, massive amounts of economical grade here especially when the cutoff is so low. And so Bolo, for us, is our original flagship asset before we acquired Kinsley. We had a very successful program at Bolo last summer; a lot of shallow drilling.
And what we did this year is we drilled below every hole we drilled last summer to try and show that Bolo can go deeper. And we've done that. We've shown significant intercepts of over a gram oxide in the first hole we released and very good mineralization at-depth in the second release with some other numbers at over a gram oxide.
We're expecting to put nine more holes out within the next two weeks, and that should really give us an idea of where Bolo sits. And like you said, we had one of the best guys in the business – a gentleman by the name of Mac Jackson – he's one of our senior Carlin advisors. He was the head geologist at Newmont and most recently the VP Exploration at Gold Standard Ventures, which found not one but two sizable deposits.
Gerardo Del Real: Well, I'm looking forward to visiting both Bolo and Kinsley later this year. Max, thank you for your time. We'll be chatting next Monday — it sounds like!
Max Sali: Thank you, Gerardo. Yes, see you then.
Gerardo Del Real: Appreciate it!
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.
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