A Different Approach To Exploring For Gold. Pt. 2
This is a continuation of Nevada Explration NGE. In the first part we looked at the company's theory of using Groundwater Chemistry to located gold deposits. In this part we'll take a quick look at NEG's properties and mining claims and also look at the progress of work on these properties.
NGE has five different land holdings of claim blocks and properties. These are the Grass Valley, South Grass valley, Kelly Creek, Hot Pot and Awakening. All of these properties are in various stages of exploration.
The Grass Valley property was a property that was identified in 2012. This property is located in the Cortez Trend which is about 10 miles south of Barrick Gold's Pipeline property. That property is one of the riches low cost gold properties in the world. At present McEwan Mining is doing exploration on this property through an agreement in place. So far with all the data that has been compiled it is looking like this property is going to represent a compelling new gold exploration target with significant upside.
The Grass Valley South project is about 15 miles south of the Grass Valley project. This property also is presently being advanced by McEwen Mining Inc. under an exploration partnership. NGE has compiled data on geochemistry through out this area and is at present looking for someone to partner a joint venture with much like McEwan Mining on the northern portion.
Kelly Creek is a property that is located northwest of Battle Mountain in Humboldt County. Using their Groundwater Chemistry the company believes the results indicate a strong potential for covered gold mineralization beneath the Kelly Creek Project area. This property has seen a lot of work done by the company including a large scale reconnaissance groundwater sampling program that has collected 97 samples and analyzing each for gold and 80 other trace elements.
The Hot Pot property is located not far from Kelly Creek. This property is very close to some of the large miners. It is a few miles east of Newmont's Lone Tree mine (+5,000,000 oz Au), and 6 miles from Goldcorp's Marigold mine (+4,000,000 oz Au). This property also shows a lot of promise and since 2005 the company has completed a lot of work including the drilling of 9 Vertical Reverse Circulation drill holes, 200 Groundwater Chemistry samples, 1,211 Samples along 11 survey lines, Two 4 Kilometre seismic lines and obtained gravity readings at 522 stations on a 200 meter grid for a total of 20 km2 of new gravity data. Then is 2008 the compay drilled another ten, RC drill holes ranging in depth from 50m (165ft) to 175m (575ft), for a total of 1,086m (3,565ft).
The last property is the Awakening property. This property is only 3 miles north of the Sleeper Gold Mine. The company has so far collected 85 Groundwater Chemistry samples and has done 600 Gravity Stations. In 2008 NGE acquired a 900 line miles of detailed airborne magnetic data. These results showed a pronounced geologic fabric suggesting varied rock types, covered fault zones, and possible alteration.
Well the gives you a brief over view of not only what NGE has for properties but also how they are going about adding value by discovery using Groundwater Chemistry to find more gold in Nevada.
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