Nevada Gold: New High-Grade Intercepts Confirm Resource Extension

by Mike Fagan

Mike Fagan


New Placer Dome Gold (TSX-V: NGLD)(OTC: NPDCF) — currently trading around C$0.20 per share — has released assays from fourteen additional RC drill holes from its flagship Kinsley Mountain Gold Project, Nevada, confirming an extension of the Main Pit North oxide gold target by 75 meters.

Highlights from this most recent batch of assays include:

  • 9.83 grams per tonne (g/t) gold oxide over 7.6 meters
  • 2.13 g/t gold oxide over 9.1 meters

The recently completed drill campaign comprised 49 holes totaling 18,000 metres testing 5 targets within the greater resource area at Kinsley; assays from the final 13 holes are still pending and include all core holes.

New Placer Dome CEO, Max Sali — whom you’ll be hearing more from in a moment — commented via press release:
 

"The Kinsley Mountain Project is well-known for its high-grade Western Flank Zone with its flotation amenable, sulphide gold mineral resource. However, we have not lost sight of the potential for discovery of relatively shallow oxide gold at Kinsley. Last year, the New Placer Dome technical team recognized the potential of high-grade oxide gold values intersected within a limited number of drill holes adjacent to the historical heap-leach oxide Main Pit. We targeted the area with a modest campaign of ten RC drill holes totaling 1,500 m. The exceptional results released today point the way to future drilling to target these exceptionally high-grade oxide gold mineralization zones."


Kinsley boasts an Indicated resource of 418,000 ounces at 2.63 g/t gold and an Inferred resource of 117,000 ounces at 1.51 g/t gold.

The New Placer Dome team believes results received to-date have the potential to expand the known resource toward the 1 million ounce mark through the discovery of new zones of high-grade oxide gold mineralization in and around the current resource pit shells.

The team is currently putting together an expanded 2021 drill campaign focused on the newly extended Main Pit North area.

Additionally, the company is advancing its second core Nevada project — the Bolo Gold-Silver Project — where 7 of 10 holes released to-date have encountered significant gold oxide mineralization.

And finally, the team is also delineating initial drill targets at its Troy Canyon Gold Project strategically located just 30 minutes from Bolo. While early-stage, Troy Canyon has shown potential for high-grade gold-silver mineralization with stope samples returning values of 47.8 g/t gold, 48.4 g/t gold, and 576 g/t gold, including 229 g/t silver.

With multiple projects underway in mineral-rich Nevada, and with a market cap below C$20 million — New Placer Dome Gold offers speculators exposure to gold-silver with plenty of drill results due in the coming months.

Our own Gerardo Del Real of Junior Resource Monthly sat down with New Placer Dome Gold CEO, Max Sali, to discuss the latest high-grade gold oxide intercepts from Kinsley Mountain. You can listen to that interview here (transcript is available also).

And don’t forget to click here for our most recent report on New Placer Dome Gold.

Yours in profits,

Mike Fagan

Mike Fagan
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.