Sphere Resources and its subsidiary, Spartan Gold and Mexivada Mining have reported that the Railroad Fault gold target has been modeling at its Poker Flats property, which is located in the Railroad-Bullion sub-district of Nevada. This property connects Gold Standard Ventures’ Railroad property, wherein a Carlin-style high-grade gold mineralization was discovered at the property.
The mineralization also included core drill intercept of 3.38 g/t gold over 537 ft and high-grade core of 16.4 g/t gold over 22 ft in hole RR12-1. Sphere Resources holds controlling interest of 53.48% in Spartan Gold, which has option to earn 75% interest in the property.
The Railroad Fault system has been considered to directly pass through the Poker Flats property, and is analyzed to include at least three sub-parallel fault strands near to the property blocks of the company. Many holes have been drilled by Gold Standard along the different faults, located towards the Poker Flats property’s western part.
Additional drill program carried out by Gold Standard will offer further assistance to Spartan or Sphere on how to advance the exploration campaigns at the Poker Flats property, in order to decrease the inherent risks in exploration.
According to Sphere Resources’ Executive Chairman, Malcolm Stevens, the company is delighted to encounter high-grade gold intercepts at the Railroad property. The drill target areas will be outlined through this new modeling work to identify key gold deposit. The company discovered majority of the gold in the Carlin Trend on and around the sides of same magnetic and gravity anomalies. These individual resource discoveries contained gold that ranged from below 1 Moz to over 20 Moz, Malcolm stated.
Source: http://www.sphereresources.com/