by Mike Fagan
New Placer Dome Gold (TSX-V: NGLD)(OTC: NPDCF) — currently trading around C$0.15 per share — has announced results of last year’s IP survey at its flagship Kinsley Mountain Gold Project, Nevada, revealing high-grade gold mineralization at the Western Flank Zone associated with changeability anomalies along the primary Kinsley fault zone.
The company’s upcoming drill program at Kinsley will focus on increasing the current resource — which now stands at 418,000 oz Indicated at 2.63 grams per tonne (g/t) gold plus 117,000 oz Inferred at 1.51 g/t gold — plus exploration drilling at several high-priority targets including those identified via the recently completed IP work.
New Placer Dome CEO, Max Sali, commented via
press release:
"With the release of the 2020 IP/resistivity survey results we are extremely pleased to have identified a new gold vectoring tool that has potential to contribute to new discoveries within the Kinsley Mountain Gold Project. During 2021, we look forward to expanded geophysical surveys and drilling to build on multiple new discoveries made during 2020 and increase the current indicated and inferred resource at the Western Flank Zone, Main Pit North Oxide and Secret Spot targets."
My colleague Gerardo Del Real visited the Kinsley Mountain Gold Project last week, and he was immediately struck by the excellent infrastructure, the size of the property, and the amount of targets to choose from.
This release shows NGLD recognizes the need to better define high-priority targets and should lead to a more targeted drilling season in 2021.
Additionally, the company is advancing its second core Nevada property — the Bolo Gold-Silver Project — where 7 of 10 holes released to-date have encountered significant gold oxide mineralization. The company expects to spend around US$1.1 million exploring Bolo this summer with a maiden resource targeted for 2022.
At a sub-C$15 million market cap and with gold sharply on the rise, NGLD represents an intriguing ultra-low-priced drill speculation in the junior precious metals space with targeted drilling on multiple Nevada projects just around the corner.
Our feature report on New Placer Dome Gold is available here.
Yours in profits,
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.