New Placer Dome and Copaur Minerals Defines New Drill Targets at Separate Zone at the Bolo Gold-Silver Project, Nevada
New Placer Dome Gold Corp. and Copaur Minerals have announced positive results from a geophysical survey at the Bolo Gold-Silver Project in Nevada. The 14.4 km IP/resistivity survey identified high-priority exploration targets north of the drill-confirmed South Mine Fault Zone. Key findings indicate the presence of a 1,000 x 500 metre outlier of Windfall Formation rocks and associated pathfinder element anomalies. CEO Max Sali emphasized the significance of these findings for future drilling campaigns, highlighting the potential for new gold mineralization.
- Geophysical survey identifies high-priority exploration targets extending 1 km north of previous limits.
- Discovery of a 1,000 x 500 metre outlier of Windfall Formation rocks within the East Fault area.
- Pathfinder element anomalies (As, Ba, Sb) indicate favorable geology for potential gold mineralization.
- None.
VANCOUVER, BC / ACCESSWIRE / January 24, 2022 / New Placer Dome Gold Corp. ("New Placer Dome" or the "Company") (TSX-V:NGLD)(OTCQB:NPDCF)(FSE:BM5) and Copuar Minerals ("Copaur Minerals") (TSX-V: CPAU) are pleased to report the results of the recently completed 14.4 line-kilometre induced polarization (IP) / resistivity geophysical survey completed during Q4 of 2021 at the Bolo Gold-Silver Project (the "Bolo Project" or "Bolo") in Nye County, Nevada. IP/resistivity surveys in conjunction with existing grid rock sampling and geological mapping have defined high priority untested exploration targets north of drill confirmed gold mineralization at the South Mine Fault Zone ("SMFZ") along a major parallel fault structure (East Fault).
Highlights of the IP/resistivity Survey:
- 2021 IP/resistivity surveys expand coverage 1 km north of the 2019 survey limits to test underexplored northern extensions of the prospective Mine Fault and East Fault targets (Figure 1).
- Inverted chargeability and resistivity data highlight the boundaries of a 1,000-metre x 500-metre outlier of Windfall Formation rocks that occurs within the East Fault target area.
- Windfall rocks are cut but fault controlled jasperoid units and coincident arsenic (As), barium (Ba) and antimony (Sb) pathfinder element anomalies within surface grid rock samples (Figure 2).
- The results highlight the prospective East Fault that hosts an outlier of the Windfall Formation, which is the primary host for gold mineralization at the South Mine Fault Zone that has yet to be drill tested.
Max Sali, CEO and Founder of New Placer Dome commented, "We are excited to expand our focus to areas beyond the South Mine Fault Zone and Uncle Sam prospect. The favorable geology, structure, and pathfinder element anomalies highlighted in the East Fault area provide a compelling exploration target worthy of significant follow-up work, including future drilling. This is further underpinned by the results of the 2021 IP/resistivity surveys that provide evidence of favorable geology and potentially mineralized fault structures extending to depth."
IP/resistivity Survey Details
A sharp resistivity gradient associated with depressed chargeability values defines the eastern fault boundary of the Windfall Formation in the East Fault area. A significant chargeability contrast marks the fault boundary with younger shaley units to the west. Significantly, chargeability inversions define an internal fault structure within the mapped Windfall Formation, associated with fault-related jasperoids and anomalous As, Ba, and Sb pathfinder values. The geophysical data suggest there may be considerable vertical offset along the structure within areas of the Windfall Formation.
The East Fault target area Windfall Formation is largely underexplored and untested by drilling. An internal fault structure defined by chargeability inversions and associated with jasperoid and elevated pathfinder values within Windfall Formation rocks represents a compelling, high-priority exploration target. The Company plans to follow up with additional prospecting and rock sampling grids in the northern areas of the Bolo Project to further refine targets prior to drilling.
Figure 1: 2021 Bolo IP/resistivity Survey Results
Figure 2: 2021 Bolo Gold Zones and Exploration Targets
Methodology and QA/QC
Five IP/resistivity lines were completed during Q4 of 2021 at the Bolo Gold-Silver Project. The lines are spaced 200 metres apart, with line lengths of approximately 2900 metres. Data were collected using the Direct Current Resistivity, Induced Polarization ("DCIP") method, on a 16-channel pole-dipole array with a dipole size (a-spacing) of 100 metres. A GDD GRx16 receiver and GDD 5000W-2400V-20A IP Tx model Tx4 transmitter was used. Raw data were loaded into GDD IP Post-Process software and Geosoft Oasis Montaj software for quality control and review. The reviewed data were used to produce pseudo section plots of apparent resistivity and apparent chargeability and were the input for the inversion. Inversions were completed using the UBC-GIF DCIP2D inversion codes. Each line of data was inverted independently. The resistivity and IP inversion is a two-step process. The resistivity inversion is run first, and this model is used in the chargeability inversion. Multiple inversions were completed for quality control.
About New Placer Dome Gold Corp.
New Placer Dome Gold Corp. is a gold exploration company focused on acquiring and advancing gold projects in Nevada. New Placer Dome's flagship Kinsley Mountain Gold Project located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture), hosts Carlin-style gold mineralization, previous run of mine heap leach production, and NI 43-101 indicated resources containing 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes)(1). The Bolo Project, located 90 km northeast of Tonopah, Nevada, is another core asset, similarly hosting Carlin-style gold mineralization. New Placer Dome also owns
(1) Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin, Ph.D., and Gary L. Simmons, MMSA and filed under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (www.sedar.com).
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of New Placer Dome Corp., and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.
On behalf of the Board of Directors,
/s/ "Max Sali"
Max Sali, Chief Executive Officer
Contact Information:
Max Sali, Chief Executive Officer & Director
Tel: (604) 367-8117
Email: msali@newplacerdome.com
Jeremy Yaseniuk, Chief Executive Officer & Director, Copaur Minerals Inc
Tel: (604) 773-1467
Email: jeremyu@copaur.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release includes certain statements that constitute "forward-looking information or statements" within the meaning of applicable securities law, including without limitation, additional exploration work on the Bolo Project including prospecting and rock sampling to further refine drill targets, other statements relating to the technical, financial and business prospects of the Company and its properties, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather and climate conditions, increase in costs, equipment failures, government regulations and policies, litigation, exchange rate fluctuations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE: New Placer Dome Gold Corp.
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