New Placer Dome Gold Boosts Treasury Ahead of Q1 Drilling

New Placer Dome Gold (TSX-V: NGLD)(OTC: NPDCF) — currently trading around C$0.10 per share — has completed the first half of its 2021 induced polarization (IP) / resistivity geophysical surveys at the flagship Kinsley Mountain Gold Project, Nevada.

Seven lines totaling 30 km have now been completed resulting in the extension of the existing 2020 Shale Saddle grid north to connect and overlap with the south end of the Western Flank Zone (WFZ) grid.

Chargeability anomalies have been detected on all lines coincident with modeled Secret Canyon shale rocks, representing the main host of high-grade sulfide gold mineralization at the WFZ and Secret Spot.

The program is a follow-up to last year’s successful drilling, which produced highlight intercepts of:

  • 15.1 grams per tonne (g/t) gold over 7.6 meters at the Western Flank Zone (WFZ)

  • 9.83 g/t gold over 7.6 meters at Main Pit North

  • 1.77 g/t gold over 25.3 meters at Secret Spot 

New Placer Dome CEO, Max Sali, commented via press release:

“The number and quality of new Secret Canyon shale drill targets generated by the first phase of IP/resistivity surveying at Kinsley has far exceeded our expectations. High grade gold mineralization intersected during the Company's 2020 drilling at the WFZ and Secret Spot illustrate the substantial prospectivity of Secret Canyon shale rocks within the Project area. The results of the ongoing geophysical surveys will allow the Company to focus and prioritize drill targeting in its search for blind zones of high-grade gold mineralization within the vast areas of untested Secret Canyon shale throughout the Kinsley Mountain Project.”

Kinsley boasts a current NI 43-101 resource of 418,000 oz Indicated at 2.63 grams per tonne (g/t) gold plus 117,000 oz Inferred at 1.51 g/t gold with current exploration activities aimed squarely on resource expansion and new target identification.

New Placer Dome is cashed up, recently completing a C$5 million financing, and the field team is excited to begin IP testing at the northern part of the 10,300-acre property.

The company will then deploy analytics to delineate the next set of drill targets with plans to resume drilling in the first quarter of next year. 

My colleague Gerardo Del Real of Junior Resource Monthly who has been onsite at Kinsley — most recently in May — caught up with New Placer Dome Gold CEO, Max Sali, for a detailed discussion on all-things New Placer Dome Gold. Enjoy!

Check out additional New Placer Dome Gold news, exclusive interviews, and much more on our website.

For interested speculators make sure to read our feature report on New Placer Dome Gold.


Yours in profits,

Mike Fagan
Editor, Resource Stock Digest

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