Ashburton Ventures, a Canadian exploration company, declared that it has concluded the gravity survey program on the Golden Edge property, which is situated 50 km east of Winnemucca in Nevada.
By studying magnetic data and historical gravity, the company had discovered a north-south structure to expand into the Golden Edge property through the Lone Tree Mine, which is operated by Newmont Mining and lies 8 km to the south.
Nevada-based company, Magee Geophysical Services was employed by Ashburton Ventures to gather gravity information to identify the depths and structure for possible mineralization over 400 gravity stations with a 0.01 mGal resolution. Magee Geophysical Services has completed the gravity data collection phase and results will be inferred by a geophysical consultant shortly.
The company has studied the prior gravity information, which showed a gradient that extends northward from the Lone Tree Mine into the Golden Edge property. In addition, a number of bends denoted structural complexity.
The magnetic and CSAMT information mapped out layered units that comprise a basalt layer of different width between tuff and alluvium layers. A further CSAMT survey may be needed to determine the locations of the drill hole, wherein the direction and line length of the survey will rely on understanding the gravity results.
Back in 2011, the Golden Edge property was optioned from Premier Gold Mines, wherein Ashburton Ventures established a 50-50 joint venture deal with Premier Gold Mines by concluding a work commitment, in which a minimum of $500,000 was allotted for drilling. A further $2,250,000 is needed to conclude the 50% interest in the property.
Geologist Brion Theriault has been engaged by Ashburton Ventures to supervise the Golden Edge project.