New Placer Dome Resumes Geophysical Survey at the Kinsley Mountain Gold Project and Drilling at the Bolo Gold-Silver Project in Nevada
VANCOUVER, BC / ACCESSWIRE / January 10, 2022 / New Placer Dome Gold Corp. (" New Placer Dome " or the " Company ") (TSX-V:NGLD)(OTCQB:NPDCF)(FSE:BM5) is pleased to announce resumption of the diamond drilling and the completion of induced polarization (IP)/resistivity geophysical survey at the Bolo Gold-Silver Project (the " Bolo Project " or " Bolo ") in Nye County, Nevada. Geophysical crews have been re-tasked to the Company's flagship Kinsley Mountain Gold Project (the " Kinsley Mountain Project " or "Kinsley Mountain" ) in Elko County, Nevada, to complete the remaining IP/resistivity surveys in the underexplored Kinsley North Range area of the Kinsley Mountain Project.
During late 2021, a total of 260 metres (853 feet) of core was drilled in hole BL21-01 at the South Mine Fault Zone, the first ever diamond core hole drilled at Bolo. Semi-quantitative hand-held portable X-ray fluorescence (XRF) analysis of the drill core indicates the presence of anomalous gold pathfinder elements, including elevated arsenic and antimony values. These values are associated with visually observed oxidation, decalcification, and silica alteration, coincident with the interpreted depth projection of the gold zone.The Company plans to complete the remainder of its 6 initial high-priority diamond drill holes at Bolo during Q1 of 2022, totaling approximately 1,700 m. The planned drill holes will target the Mine Fault and other mineralized structures associated with the South Mine Fault, Uncle Sam, and Northern Extension mineralized gold zones.
Max Sali, CEO and Founder of New Placer Dome commented, "We are encouraged by the initial observations and data collected from the first diamond core drilling program completed at Bolo. The Company looks forward to receiving laboratory analytical results from the first, and subsequent drill holes in the coming months. We are also pleased to resume geophysical surveys at Kinsley Mountain after completing a successful IP/resistivity program at Bolo in December."
Gold mineralization at Bolo exhibits characteristics of classic Carlin-type (CT) mineralization, including strong structural control and evidence of gold mineralization that extends laterally within favorable silty carbonate stratigraphic units. The 2021-2022 Bolo diamond drilling program is utilizing oriented core measurements that will yield valuable structural and stratigraphic data to assist the development of a 3D geological model for the South Mine Fault Zone and reveal detailed structural and stratigraphic controls on mineralization.
The Bolo IP/resistivity geophysical surveys were completed in December 2021, expanding coverage
1 km north from the limits of the 2019 IP/resistivity surveys to encompass the north extensions of the prospective Mine Fault and East Fault targets ( see New Placer Dome news release dated December 22, 2021 ). A total of 14.4 line-km were completed over 5 lines, the results of which are currently being reviewed by the Company's technical team.
Geophysical crews have been re-tasked to Kinsley Mountain to resume IP/resistivity surveys in the Kinsley North Range area ( see New Placer Dome news releases dated July 20, 2021, October 7, 2021, and November 22, 2021 ). A total of 37.5 line-km, over 10 lines were completed during 2021. That first phase of IP/resistivity surveys both infilled between the 2020 Shale Saddle and Western Flank Zone grids and extended it. A single line was completed in the underexplored Kinsley North Range in 2021, with an additional 39 line-km planned.
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's flagship Kinsley Mountain Gold Project is located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture) and hosts Carlin-type gold mineralization. It had a previous run of mine heap leach production and has
NI 43-101 indicated resources of 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 Company core asset, similarly hosting Carlin-type gold mineralization. New Placer Dome also owns
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
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, the completion of the planned drilling at Bolo and the completion of the geophysical surveys on the Kinsley Mountain Project, receipt of assays from the drilling at Bolo, 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, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, 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.
[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)
SOURCE: New Placer Dome Gold Corp.
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