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New Placer Dome Gold Corp. Drills 6.1 Metres of 10.22 g/t Gold, Expanding Gold Mineralization at its Kinsley Project in Nevada

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New Placer Dome Gold Corp. Drills 6.1 Metres of 10.22 g/t Gold, Expanding Gold Mineralization at its Kinsley Project in Nevada

 

 

 

 

 

New Placer Dome Gold Corp. (TSX-V: NGLD) (OTCQB: NPDCF) (FSE: BM5) is pleased to report assay results for the initial nine reverse circulation drill holes completed during 2020 at its flagship Kinsley Mountain Gold Project in mining friendly Nevada. Eight of the nine drill holes had significant gold intercepts and have the potential to increase mineral resources in several different zones.

 

Kinsley Mountain is located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture), hosts Carlin-style gold mineralization, hosts historical run-of-mine heap leach production, and has NI 43-101 indicated resources at the Western Flank Zone of 302,000 ounces of gold grading 6.11 g/t Au (1.54 million tonnes)1.

 

The recently completed 2020 Kinsley Mountain RC and diamond drill campaign comprised 49 drill holes totaling 17,970 metres (39 RC holes for 13,610 metres, and 10 diamond drill holes for 4,360 metres), and tested five target areas within the greater resource area (Figure 1 and Table 1). Assay results from the remaining 40 holes are still pending. Drill holes were selected to test extensions to existing resource areas as well as undrilled, high conviction targets.

 

Highlights include:

 

  • 2.63 g/t Au (sulphide) over 38.10 metres; including 10.22 grams-per-tonne gold (g/t Au) (sulphide) over 6.10 metres in KMR20-017 (Figure 2)
  • 3.38 g/t Au (oxide) over 21.34 metres; including 5.78 g/t Au over 6.10 metres in KMR20-016 (Figure 2)
  • 5.15 g/t Au (oxide) over 10.67 metres in KMR20-004 (Figure 3)
  • 4.83 g/t Au (sulphide) over 6.10 metres and 1.74 g/t Au (sulphide) over 7.62 metres in KMR20-008; and 1.15 g/t Au (sulphide) over 6.10 metres in KMR20-007 (Figures 4 and 5)
  • 1.19 g/t Au (oxide) over 16.76 metres in KMR20-005; and 0.51 g/t Au (oxide) over 18.29 metres in KMR20-006 (Figure 6).

 

Max Sali, CEO and founder of New Placer Dome commented, “We are extremely encouraged by the results from the initial nine Kinsley drill holes, which reinforce the exceptional exploration potential of the Kinsley Mountain Project. With an existing resource including 302,000 high-grade indicated ounces of gold grading 6.11 g/t at the Western Flank Zone, and high-grade gold in our new holes on the margins of the deposit, we look forward to the potential of resource growth driven by the results of the remaining 40 drill holes which targeted proven and new areas at Kinsley. With the 2020 drilling program now complete and analysis of most samples now underway at the laboratory we look forward to continued news flow in the months ahead.”

 

Table 1. Kinsley Mountain Gold Project 2020 Significant Drill Intercepts

 

Hole ID Zone From (m) To (m) Interval (m)1 Au (g/t)* CN Soluble Au Recovery** (%)
(dip/azimuth)
KMR20-004 Western Flank

Extension Target

260.60 271.27 10.67 5.15 69%
(-68/160)
including 265.18 269.75 4.57 8.12 74%
KMR20-005 KNW Fault 22.86 39.62 16.76 1.19 86%
(-70/235)
KMR20-006 KNW Fault 19.81 38.10 18.29 0.51 81%
(-50/235)
KMR20-007 Western Flank 283.46 289.56 6.10 1.15 Sulphide
(-75/280)
KMR20-008 Western Flank 294.13 300.23 6.10 4.83 Sulphide
(-83/305)
and 310.90 318.52 7.62 3.07 Sulphide
KMR20-009 Western Flank 283.46 295.66 12.19 1.74 Sulphide
(-70/110)
KMR20-015 Western Flank No significant intercepts
(-85/225)
KMR20-016 Western Flank 309.37 330.71 21.34 3.38 73%
(-85/235)
including 316.99 323.09 6.10 5.78 100%
KMR20-017 Western Flank 320.04 358.14 38.10 2.63 Sulphide
(-75/320)
including 326.14 332.23 6.10 10.22 Sulphide
*True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths.
*Drill composites were calculated using a minimum cut-off of 0.20 g/t gold.
**“Sulphide” defined as CN soluble gold recovery of <50%

 

Methodology and QA/QC

 

The analytical work reported on herein was performed by ALS Global (ALS), Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of New Placer Dome and the QP. RC drill samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Gold determination was via standard 30-gram fire-assay (FA) analysis with atomic absorption spectroscopy (AAS) finish, in addition to 51 element ICP-MS geochemistry. Samples returning greater than 10 g/t Au are subject to gravimetric finish. Gold values returning greater than 0.1 g/t Au are also subject to leach analysis where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.

 

New Placer Dome follows industry standard procedures for the work carried out on the Kinsley Mountain Gold Project, with a quality assurance/quality control program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. New Placer Dome detected no significant QA/QC issues during review of the data. New Placer Dome is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

 

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)2. 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 100% of the Troy Canyon Project, located 120 km south of Ely, Nevada. New Placer Dome is run by a strong management and technical team consisting of capital markets and mining professionals with the goal of maximizing value for shareholders through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

 

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 and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.

 

 


Figure 1. Kinsley Mountain Gold Project 2020 Drill Holes and Exploration Targets (CNW Group/New Placer Dome Gold Corp.)

 

 


Figure 2. Western Flank Zone Drill Section KMR20-016 / KMR20-017 (CNW Group/New Placer Dome Gold Corp.)

 

 


Figure 3. Western Flank Extension Target Drill Section KMR20-004 (CNW Group/New Placer Dome Gold Corp.)

 

 


Figure 4. Western Flank Zone Drill Section KMR20-008 (CNW Group/New Placer Dome Gold Corp.)

 

 


Figure 5. Western Flank Zone Drill Section KMR20-007 (CNW Group/New Placer Dome Gold Corp.)

 

 


Figure 6. KNW Fault Zone Drill Section KMR20-005 / KMR20-006 (CNW Group/New Placer Dome Gold Corp.)

 

Posted January 11, 2021

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