Aug 25 2016
Nevada Exploration Inc. ("NGE" or the "Company") is pleased to announce that it has completed mapping, range front sampling and geophysical data reduction on its wholly-owned South Grass Valley Project establishing a favorable geologic context for its previously announced gold in groundwater chemistry anomaly and has added another 232 new claims covering 19.4 km2 (7.5 mi2) to its South Grass Valley land position. With the addition of these new claims to its current land holdings, NGE now controls 22.1 km2 (8.5 mi2) at the Project.
The South Grass Valley Project is located within the Eureka - Battle Mountain Gold "Trend" in central Nevada and is approximately 48 km (30 mi) south of Barrick's Cortez Hills (+8.76 Mozs) and Gold Rush (+15.6 Mozs) complexes. The project area is largely covered by sand and gravel.
Geologic mapping and rock sampling of exposed range front bedrock confirm the presence of hydrothermally altered and geochemically anomalous Roberts Mountains Formation Carlin-Type Host Rock. Air magnetic and gravity geophysics further confirm the projection of the favorable geologic environment beneath significant areas of adjacent sand and gravel cover. And, most importantly, NGE's pioneering groundwater sampling technology has identified significant concentrations of gold and gold-related trace elements in groundwater over a large part of that covered area measuring 11 km by 1.6 km (7 mi by 1 mi).
Readers are encouraged to review http://www.nevadaexploration.com/_resources/presentations/South_Grass_Valley_Technical_Update_2016-08-24.pdf for maps, rock samples, 3D images and other technical details that establish the important geologic context for a very large gold in groundwater anomaly.
With strong support for favourable lower plate carbonate host rocks coincident with elevated gold and supporting Carlin-Type gold deposit trace element geochemistry in the groundwater, NGE believes that the South Grass Valley Project presents one of the most exciting new gold exploration projects in Nevada, and is very pleased to be able to significantly increase its land holdings in the project area.
Source: http://www.nevadaexploration.com/