Overview
The 100%-Company-owned project comprising 34 unpatented lode mining claims is located at the southern extension of the “Turquoise Ridge-Battle Mountain-McCoy Cove Structural Trend” at the structural intersection with the Carico Valley NE-SW extended Fault Zone, approximately 45 kilometers (28 miles) southwest of Crescent Valley and NGM’s Cortez and Pipeline multi-million-ounce gold deposits.
The Pickhandle gold target comprises a small window of Permian Edna Mountain Limestone cut by altered, mineralized dikes. The surface geology, alteration, structural complexity, and geochemical environment are strongly indicative of a “Carlin-type” gold environment. Particularly the pervasive silicification (Jasperoids) and silica-flooded brecciation, superimposed on ferroan dolomite, are especially encouraging (see Figure 3). Gold values from rock chip sampling reached up to 1.5 g/t Au. It is particularly significant that the Pickhandle prospect area has never been drilled and shows no evidence of having been prospected in recent times. NV Gold has completed 4 RC (“reverse circulation”) holes totaling 872.8 meters (2,765 feet). All drill holes intercepted extensive oxidation for several hundreds of feet with weak anomalous Au and trace element geochemistry. The first hole, PH-1, entered a carbon-rich chert unit starting at 745 feet until the end of the hole at 860 feet. This run of 115 feet is continuously containing anomalous gold (10+ ppb) with moderate to locally strong associated pathfinder metals, including selenium up to 17.7 ppm (see Figure 4). The highest gold value encountered during this drilling campaign reached 71 ppb.
Figure 1: Turquoise Ridge-Battle Mountain-McCoy Cove Structural Trend with Pickhandle location.
Figure 2: Pickhandle with first drill-test ever on the property (PH-1). Notable deep oxidation zone from surface down to ~600 feet (looking west).
Figure 3: Pickhandle Au-anomalous jasperoids and pediment target (looking northwest).
Figure 4: Altered and Au-anomalous dike on top (PH-3) and carbon-rich, Au-anomalous cherty unit with elevated antimony and strong selenium (17.7 ppm) in PH-1.